This summer, Bailey Reutzel decided to quit her job and drive across the country interviewing people about how they are making do (or not) in the post-financial-crisis America.
I wasn’t someone who was addicted to shopping or addicted to spending. I just was really bad at managing money. I never had a budget, I never knew how much was in my account at any given time, and I didn’t build any credit.
they decide to trade. She gets his house, his salary, and his Tesla for the rest of the semester, while he gets a job washing dishes in a Chinese restaurant and lives in the illegal unheated garage she and her roommate call home. And then things get really complicated. And sexy.
While you might have heard of John or Hank Green, you may not have heard of DFTBA Records’ other original co-founder, Alan Lastufka. When he announced in June that he was selling his stake and leaving DFTBA (an initialism for “Don’t forget to be awesome”), I asked him if we could talk about his work with the record label as well as some of the financial lessons he learned while going from “artist and YouTuber” to “President of a successful business.”
So, readers of The Billfold (and Nerdfighters!), consider this a special treat. A conversation with Alan Lastufka about his work on DFTBA Records, from co-founding the record label in 2008 to selling his stake in 2014.
As part of my journey to understand this situation better, I’ve been talking to people at all levels of wealth. One major goal is to find out how professional, active money management differs from the administration of the average middle class nest egg. To that end, I recently talked with a wealth manager for a large bank. Let’s call him Tom.