SF Chapter 75: H&P Studio II
Jay and Daniel exchanged a few ideas until Melissa informed them that Mr. Richard Keller had arrived.
She was told he could come in.
"Jay, Daniel, good to see you again," the man in his mid‑fifties said as he walked in.
He was wearing an expensive suit, very much in the style of a bank executive.
Jay stood up and also gave a rare smile. "Richard, you are getting old," he stated, giving him a firm handshake.
"You are one to talk... Jay. Don't know what Gloria sees in you," he retorted.
[Jay Pritchett commentary]
"I've known Richard for years," Jay revealed. "He has been the bank manager who handles both my personal accounts and the company's banking."
"He's also one of the guys I play golf with."
[Commentary ends]
"Okay, let's get down to business," Richard said as he sat in the chair in front of them and pulled a few papers out of his briefcase.
"Daniel, I brought a report with all your expenses from this year and last year. To make things easier, we'll discuss them on an annualized basis."
Daniel picked up the report and began reading out loud. "I spend 16 grand on my Porsche 911 annually, considering maintenance, insurance, gas, and related costs."
"45 thousand on clothes, a good portion of it on suits. 45 thousand on restaurants and 50 grand on travel and similar expenses."
Jay looked a little intrigued. "How did you spend so much on restaurants?" He himself often went to expensive restaurants with Gloria.
"Oh, food at 2 or 3 a.m. is expensive, Dad," Daniel replied. "But well worth it." He called it post‑sex food.
Richard took the opportunity to ask, "Who would Berta be?"
"My housekeeper. 35 thousand per year." He looked at the number he spent. "Well spent. I can't live without her!"
"Next comes 30 thousand, around 2.5 thousand per month that I help with groceries and other things for my brother's house."
Daniel paid some of the household bills there. Without this report, he probably wouldn't even know exactly which ones.
"Then comes gifts, treats, and other things for friends, family, and sometimes girls. 35 thousand annually."
And he finished reading, "Finally, 25 thousand on entertainment, drinks, and parties, and 10 thousand on miscellaneous expenses. 291 thousand dollars in annual spending."
"Now for the income part," Richard said, turning to that section. "Not considering the capital gains from your investments and looking only at royalties and similar earnings from the books, the amount comes to 9.3 million dollars annually."
He went on, "And according to the projections the publisher provided, sales should continue steadily. With you releasing the next editions, the projection is that your annual earnings will be even higher."
Richard adjusted himself in the chair and looked more serious. "We're not even counting the earnings that will come from the film. From the report your dad sent me, it estimates your share could be around 70 million."
"Good Lord, see, Dad," Daniel turned to Jay. "I'm spending less than 3% of my income. I'm basically living like a monk!"
"How did I become the model of financial responsibility?" he exclaimed, sounding a little indignant.
Jay looked a bit exasperated, while the banker seemed amused.
"Now, Daniel," Richard picked up a pen, "are you planning any major expenses?" He asked the question so he could properly adjust the boy's portfolio.
"Hmm," he said thoughtfully, "maybe buy a Lambo. In a few months I'll be 18 years old, so I might as well buy a house. And finally, an awesome trip with the whole family."
"What kind of house?"
Daniel described it, "similar to my brother's. Beachfront in Malibu. The size can be about the same too, just with a bigger deck. And very modern furniture."
To get a better idea of how much it would cost, Daniel called his mom and described again what he wanted.
"Mom said around four million. And she's probably already looking at one..."
The banker did the math. "Even considering a very luxurious 120‑thousand‑dollar trip, plus around 280 thousand for the Lamborghini Murciélago, that's about 4.4 million."
He then handed over another report. "This is the stock portfolio assembled by our team."
"Intel, Apple, Microsoft, Cisco, Oracle, Yahoo, eBay, Coca‑Cola, Johnson & Johnson, Procter & Gamble, Walmart, ExxonMobil, Goldman Sachs, Berkshire Hathaway..." Daniel murmured, not thinking much about it.
That was a subject he still needed to learn more. He had read some nice books by Peter Lynch and Seth Klarman, but that was it.
"What I would suggest, Jay and Daniel, is thinking about hiring a private security service now that Daniel is more famous," Richard added.
Jay nodded. "I already asked someone to look into that."
"Wow, I want a guy the size of a mountain, and a hot woman who knows some martial arts," he proposed, but his father completely ignored him.
-------‐-----------‐-----------‐-----------‐-----------‐-----------‐---
Later, Daniel was sitting on the couch in his sister's living room while Phil helped an assistant install the television.
Claire, who had gone out to do some grocery shopping, arrived and looked at the huge television being placed on the living room cabinet. "What is that?"
Daniel turned from the couch toward his sister. "A 50‑inch plasma TV."
"For?" she asked.
"Phil's birthday!"
"That was months ago," she retorted.
"Luke's birthday."
"Will be in two months..."
Alex, who was nearby, mocked, "I'm so touched that our uncle actually remembers the dates."
"Hey, I know yours, Miss Anastasia. January 14th." Daniel made a face.
"Let me guess, because yours is four days later," she crossed her arms.
He ruffled her hair. "As expected from my brilliant niece!"
Then he turned again to Claire. "Oh, come on, Sis. It's a gift for the family. Sometimes, I come here two or three days a week, so I'll be using it too."
Seeing that everything was already installed, Daniel turned on the DVD and the TV. "See? Now you can watch your Law & Order better."
"This picture is awesome," Phil stared at the show, starstruck.
"Fine... fine. Thanks, Dani," she stepped closer and kissed the top of her brother's head. "But don't go spending your money recklessly."
[Phil Dunphy commentary]
Phil was sitting on the couch. "I understand Claire, I really do!"
"Sometimes - like most of the time - Dani gives expensive gifts. But it's hard to say no to him."
Phil explained, "He came to me and said, 'Come on, P‑Money, I thought we were bros,' 'hey, we can watch the basketball game together.'"
And the TV started showing the game. "And the present is so cool..." he made a conflicted face.
[Commentary ends]
--------------
If you enjoy it, please leave a Review and Power Stones
You can also support me on patreon and read up to 25 chapters ahead, plus 32 chapters of Modern Family: Francis Jacob Pritchett
[email protected]/Japa_Madri