Sniffed Links - Scale

We talk a lot about how important technology is to our business. It’s our largest expense. I’d put our efficiency, processes and workflows up against any firm our size. This is mostly due to the way we use the technology we have. Since the very beginning (when we had very few clients) we built out our processes as if we had hundreds of clients. We were scaling before scaling was a thing. I thought a little more about it this week and I think if this were 1995 we would probably need at least 10 people to do what our technology does. That would mean higher costs to clients. Or, we’d have to cut our client base in half. Something would have to give. Luckily, its 2018 and financial technology is booming. Because of the competition the vendors we use are always improving.

Enjoy this week’s links…

Why Spending Rates Matter More Than Savings Rates

When Earning $1 Million A Year Isn’t Enough To Retire Early - Financial Samurai

Bitcoin crash: This man lost his savings when cryptocurrencies plunged