First Exit Wire Transfer

Andrew Gazdecki shares his experience handling his first major wire transfer after selling his business and transitioning into wealth management.

"When I sold my business, the first thing I did was hire a wealth manager to move all the money out of my bank account. He just bought bonds - I knew nothing about bonds, and then all of a sudden I'm like 'why is there more money?' and they explained that's how bonds work.

When I went to wire the money, my office was in La Jolla in San Diego, which is kind of like the Beverly Hills of San Diego. The banker was like 'this is the biggest wire I have ever done, can we triple, triple, triple, quadruple check this?' I was like 'really? La Jolla? There's $10 million houses everywhere!' He's like 'yeah this is the biggest one, I'm nervous.'

But what I used to do before that - this is kind of a lame move - I would go into the bank a few times before that wire and pull out a $20 bill. I'd be like 'hey can I get $20 out' just so they could see my account. I'd come in looking like this - I was 29 when I sold the business, so I wasn't going to be professional. I hadn't been married, didn't have a kid at the time, so it was party time at that moment."