Episode Details

Is a Micro Family Office Worth It at $5 Million?

When I passed $5 million in net worth, I had a house, private equity investments, a portfolio I was starting to build, and an estate plan that wasn’t finished. I was paying a lot in taxes every year. None of it was working together. I had a portfolio, but I wasn’t the CEO of it.

Most people I talk to at this level ask the same question: can I afford a family office? That’s the wrong question. And this was never about firing your financial advisor.

I’ll walk you through the three questions I use to decide whether a Micro Family Office is worth it at $5M. One is about the pieces you already have. One is about what happens when the paycheck stops. The third is the one nobody puts on a spreadsheet.

I’ll be honest with you, too. For some people the answer is yes. For some it’s “not yet.” And for some it’s a clear no, and I’ll tell you who.

By the end, you’ll know which column you’re in, and what your wealth needs from you next.