
#079 Andrew Wilkinson: De-risking Leverage, Investing vs. Operating, and the Best Part About Business [Replay]
Smart Friends
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Expectations Must Align with Reality
Individuals often struggle to adjust their financial expectations when faced with a significant decrease in income. This challenge is exacerbated when they have committed to lifestyle choices, such as private schooling for their children or purchasing expensive assets like a new car, based on previous earnings. Navigating these financial transitions requires sensitivity and clear communication, as people may find it difficult to cope with the implications of a reduced income after experiencing years of higher earnings.
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