"Lifestyle" jobs

Looking for some creative ideas for cushy jobs with flexible hours or lots of vacation time, ideally in a warm weather, no income tax state (FL or TX). Emphasis on cushy. Ideal would be teacher's hours with $250k+/year. I don't know of anything like this, but a guy can dream, right?

Thoughts?

 

Franchising Verizon stores or restaurants. Of course, you would have to hire an experienced manager so you could have the time off you want and franchise multiple stores/restaurants to hit your income level, but if you have the capital up front shouldn't be a problem. Car washes are another, also.

[quote=patternfinder]Of course, I would just buy in scales. [/quote] See my WSO Blog | my AMA
 

if you want to live stateside, only option that comes to mind is you're going to need ownership of some type of company/franchise/assets with good mgmt in place under you to free up your time

though if you're up for living overseas.....

//www.wallstreetoasis.com/forums/the-other-road-timelocation-freedom

though i'm not making anywhere near 250k a year :)

maybe you could do something like http://wanderingtrader.com/ ?

if you're able to work making usd online from another country you can leverage geo-arbitrage / ppp and do a lot more on a lot less

WSO Content & Social Media. Follow us: Linkedin, IG, Facebook, Twitter.
 

there are a ton of these jobs, but the problem is that you only get to the really cushy and cash flow part after a lot of work. The best options are definitely working in wealth management (the work is convincing clients to give you their money to manage) or starting a small business or becoming a franchisee as mentioned above (there the issue is getting to scale - 1 franchise is going to be a lot of work and not a lot of money, 20-30 franchises and you'll be raking in millions and won't have to do all that much behind it)

 
SirTradesaLot:
Looking for some creative ideas for cushy jobs with flexible hours or lots of vacation time, ideally in a warm weather, no income tax state (FL or TX). Emphasis on cushy. Ideal would be teacher's hours with $250k+/year. I don't know of anything like this, but a guy can dream, right?

Thoughts?

Sell a business. Buy one in a sector/industry vertical that you know well. Lever up to acquire. Manage it for a few years, then resell at a higher exit multiple and after equity value expansion from debt repayment.

 
SirTradesaLot:
Looking for some creative ideas for cushy jobs with flexible hours or lots of vacation time, ideally in a warm weather, no income tax state (FL or TX). Emphasis on cushy. Ideal would be teacher's hours with $250k+/year. I don't know of anything like this, but a guy can dream, right?

Thoughts?

Most people look at this benchmark the wrong way (especially on this forum). It's understandable. Most finance jobs require at least 55 hours a week if not more which doesn't leave you with too much time to be anything but a wage-earner.

There are very few "jobs" out there that have 9-5 hours with an income of greater than $250+k/year. An important question you also need to ask is how far does $250+k/year go in a certain locale?

My take on cushy hours and an income of $250+k/year is that a good portion of that income is generated through one's wealth. In other words, their total income per year is comprised of both career income and profits from investments.

I'm in my late 20s, I work ~ 40 hours/week, I and take in anywhere from $220-240k/year AFTER tax depending on the revenue from my real estate investments. I live in a much lower cost of living metro area compared to NYC. I'm also a full time employee in the defense sector and I have a part time commitment as a commissioned officer in the National Guard.

I made a post on how I positioned myself: http://www.wallstreetoasis.com/forums/do-a-lot-of-bankers-waste-their-m…

A good portion of it was luck. The details are in that thread.

Best of luck.

 
UFOinsider:
Sounds like the lifestyle of a semi retired accredited investor. Maybe an indepdant trader?

Now I don't work in finance, but I would assume that "most" traders know they would not be nearly as successful as an independent trader because they wouldn't have access to the research, data (high frequency?), etc. that they would have when they worked under a firm.

 
etherlord:
-owning a mining claim to a piece of land, and allowing companies extract resources for a fee
Yah, I know a guy collecting tens of thousands a month renting the land that cell phone towers is on. He does absolutely NOTHING, and it is everything he thought it could be.
BlackHat:
abacab:
Dentist.
This. My brother makes in that $250-300 range and works 30 hours a week.
ibdfromapublic:
Orthodontist. Mine worked four days a week, two of them half days. Makes a lot more than $250k too.
FML finance is bullshit, I never should have left premed
FrankD'anconia:
laundromateur
I LOL'd
Get busy living
 

I remember one of my finance professors telling us how much he got paid one day, and I'm pretty sure it was in the 6 figures. Add onto that, that almost all my business professors also had jobs while teaching. Figure you taught 3 classes- 9 class hrs + ~4 for office hours +~2 for grading and shit= 15 hrs week. Had one teacher stockpile all her classes onto one day, did a 9-12, a 2-5, and a 7-10 and worked her weekly office hours into that day as well. It's pretty decent supplementary money for only having to deal with the little shitheads 1 day/week. Downside of course is that I think you'd need a Phd first, lol.

 
FrankD'anconia:
I remember one of my finance professors telling us how much he got paid one day, and I'm pretty sure it was in the 6 figures. Add onto that, that almost all my business professors also had jobs while teaching. Figure you taught 3 classes- 9 class hrs + ~4 for office hours +~2 for grading and shit= 15 hrs week. Had one teacher stockpile all her classes onto one day, did a 9-12, a 2-5, and a 7-10 and worked her weekly office hours into that day as well. It's pretty decent supplementary money for only having to deal with the little shitheads 1 day/week. Downside of course is that I think you'd need a Phd first, lol.

This is simply not true. I was in a PhD program and on track to do the academic thing. You guys would be surprised how hard professors work, especially in the early years. Sure, you can maybe have a cushy job after you get tenure, but you'll be 35 - 40 when that happens. Also, universities don't want you to start slacking off in terms of research after you earn tenure, so if you do then your salary will not even keep up with inflation and soon you won't be making good money any more.

 
econ:
FrankD'anconia:
I remember one of my finance professors telling us how much he got paid one day, and I'm pretty sure it was in the 6 figures. Add onto that, that almost all my business professors also had jobs while teaching. Figure you taught 3 classes- 9 class hrs + ~4 for office hours +~2 for grading and shit= 15 hrs week. Had one teacher stockpile all her classes onto one day, did a 9-12, a 2-5, and a 7-10 and worked her weekly office hours into that day as well. It's pretty decent supplementary money for only having to deal with the little shitheads 1 day/week. Downside of course is that I think you'd need a Phd first, lol.

This is simply not true. I was in a PhD program and on track to do the academic thing. You guys would be surprised how hard professors work, especially in the early years. Sure, you can maybe have a cushy job after you get tenure, but you'll be 35 - 40 when that happens. Also, universities don't want you to start slacking off in terms of research after you earn tenure, so if you do then your salary will not even keep up with inflation and soon you won't be making good money any more.

My sister is doing the PhD route to become a professor and she works 7 days a week and is always busy. She claims in won't change any time soon either. I did have a professor who taught 3 classes and played golf 3 times a week, but he was a "lecturer" and not a tenure-track prof. BIG difference and he did it more as something to keep himself busy. He writes a great rec letter though...

"Now watch this drive." -W.
 

Thanks everyone. I don't want to start a business or go back to school.

One of the best examples I can think of is a mutual fund board member. Those guys can make something like $200k working about 10-12 days a year. As you could imagine, those positions are hard to come by because it's rare that anyone quits a gig like that.

 
SirTradesaLot:
Thanks everyone. I don't want to start a business or go back to school.

One of the best examples I can think of is a mutual fund board member. Those guys can make something like $200k working about 10-12 days a year. As you could imagine, those positions are hard to come by because it's rare that anyone quits a gig like that.

One of my business school professors is on the board of a few companies. 3 are listed and I've seen that he makes around 100k, 50k and 50k from it.

I don't know the hours involved, but they can't be that heavy because he teaches as a professor (2 classes per semester), works on his thesis, spends time with his children/wife and networks frequently (travels frequently for it). He also oversees real estate/PE investments for himself and others on the side.

- V
 

Lol at everyone telling you to get a franchise . Franchises are the biggest scams in business. You're required invest large sums of money to open the business, pay huge rents in shopping malls (that's where you're going to open it right?), and have to be within the franchises regulations at all times (this can mean having 4 people working in your store when you can get by with two; or having the franchise take 5 percent of your gross revenue). Mystery shoppers are gonna screw you in the ass also. If your store doesn't have enough merchandise or if there's something wrong, they'll take off "points" and can threaten you to close your franchise if the same trends persist. Seriously, it's like having someone choke you 24/7. The real money is in WHOLESALE not in retail. Find a product that's the retailers need and supply it to them. They're plenty of wholesalers supplying crap from china to retailers in flea markets and malls who are pulling off 250k+ a year.

Array
 

[quote=OilBaron]Yeah go work here

http://www.pimco.com/en/Pages/default.aspx[/quote]

You're not being serious, right? PIMCO has pretty intense hours for asset management. Not IB hours, but people sure aren't working 40 hour weeks there.

However, being a PM at a Fund of Hedge Funds or a mutual fund might be the closest thing I can think of to a "lifestyle job" in finance. Maybe working at an endowment too. If you are running a long-only equity fund with 100+ names...good luck out/under-performing your benchmark by a more than a few basis points.

PWM / Financial Advisor work is also really cushy once you get your client base set up. Take on wealthy yet relatively low maintenance clients in a concentrated geographic area...you can work well under 40 per week.

 
hopingtobreakin:
Member of Congress

Like 40 of those guys sleep on their couches every night they are in DC. Even bankers don't do that more than 3-4 times a month.

Also, most credit unions and local commercial banks overpay their executives (and directors). These gigs aren't terribly difficult to get, if you can get a charter, it may even be possible to raise some money and start your own.

 

Thanks for describing my dream job. Is this for yourself?

Personally though, even if I got a free ice cream cone every day I wouldn't live in the great state of Texas.

My guess is the closest thing in finance is a senior PM at some large established buy side investor (asset manager, endowment, foundation, pension fund, etc). I have no data to back that up.

 
Going Concern:
Thanks for describing my dream job. Is this for yourself?

Personally though, even if I got a free ice cream cone every day I wouldn't live in the great state of Texas.

My guess is the closest thing in finance is a senior PM at some large established buy side investor (asset manager, endowment, foundation, pension fund, etc). I have no data to back that up.

Yes, I know I'm probably dreaming. One thing I know is it couldn't be something where you're directly tied to market hours. So, running a mutual fund is out, for instance, because you'll need to know what's going on with your positions, even if you're on vacation.

Here's the best I can come up with so far:

In finance: Family office manager Hedge fund seeder Guy who comes up with indices to license for use in ETFs (don't know what to call that) Mutual fund board member

Out of finance: Career coach (no idea how to find clients or anything about it really, but seems fun) Something like Anthony Bourdain's job (totally badass but not remotely qualified to do it though)

 
SirTradesaLot:
One thing I know is it couldn't be something where you're directly tied to market hours.

Well, if you're at a long term investor, I'd imagine daily P&L isn't super important, unless there was some major blow-up? And you could check your positions from a phone...besides, wouldn't you have minions to do all that for you?

 
streetwannabe:
Montana is the sales tax free state to be!

I went to Montana once. It was like stepping onto another planet. Oddly peaceful though.

I would go with Nevada (yay for Vegas), Washington (make fun of hipsters in Seattle while secretly having similar interests), or New Hampshire (being outdoorsy?) on the no state income tax front. NH apparently still charges taxes on dividend and interest income though...those bastards.

I'm on the fence about Florida. On the one hand, you have Miami, Tampa, etc. On the other hand, I've heard FL being described as death's waiting room...

 
<span class=keyword_link><a href=/resources/skills/finance/going-concern>Going Concern</a></span>:
streetwannabe:
Montana is the sales tax free state to be!

I went to Montana once. It was like stepping onto another planet. Oddly peaceful though.

I would go with Nevada (yay for Vegas), Washington (make fun of hipsters in Seattle while secretly having similar interests), or New Hampshire (being outdoorsy?) on the no state income tax front. NH apparently still charges taxes on dividend and interest income though...those bastards.

I'm on the fence about Florida. On the one hand, you have Miami, Tampa, etc. On the other hand, I've heard FL being described as death's waiting room...

Washington would be great too. I just said MT because I am actually from there; although I would strongly advise against going there, but for a few areas (i.e. western portion of the state). It is quite boring though, but if you're making a good amount of money, there's a ton of out doors stuff to do. But I love fishing and am an avid skier, so the west is better than the east to me in those aspects.

"History doesn't repeat itself, but it does rhyme."
 
streetwannabe:
No amount of money or job satisfaction in the world could make me want to live in Texas or Florida.

Montana is the sales tax free state to be!

I'm guessing you have never been to Miami Beach?

 
John Daggett:
streetwannabe:
No amount of money or job satisfaction in the world could make me want to live in Texas or Florida.

Montana is the sales tax free state to be!

I'm guessing you have never been to Miami Beach?

All for vacationing there and what not; just find the people that live there strange and just doesn't seem like a place to actually reside for me. That is all my opinion there; and don't take offense to Florida being weird, my cousins are from there and we used to go every winter (when I was young) for vacation.

"History doesn't repeat itself, but it does rhyme."
 
streetwannabe:
No amount of money or job satisfaction in the world could make me want to live in Texas or Florida.

Montana is the sales tax free state to be!

Why not Florida? I lived in Florida most of my life.

It's great

Because when you're in a room full of smart people, smart suddenly doesn't matter—interesting is what matters.
 
ricky212:
streetwannabe:
No amount of money or job satisfaction in the world could make me want to live in Texas or Florida.

Montana is the sales tax free state to be!

Why not Florida? I lived in Florida most of my life.

It's great

Well then please don't take offense to my former comment. I grew up in the north, so I like seasons. Plus, while never having lived there, am under the impression that Florida is one of the angriest/pedophile filled/high crime rate states in the country. But this perception may be very bias.

"History doesn't repeat itself, but it does rhyme."
 
SirTradesaLot:
I don't know why private banking/PWM keeps coming up. Cold calling for new business is the opposite of what I would call cushy.

Do you honestly think that the major PWM brands (GS, JPM) that want the UHNW (25mm+) want their PBs and RMs cold calling?

Cold calling is for 250k-5m type of client. Over that you usually get a big fuck off on the phone for someone 5m+.

Don't generalize man.

 
Unforseen:
SirTradesaLot:
I don't know why private banking/PWM keeps coming up. Cold calling for new business is the opposite of what I would call cushy.

Do you honestly think that the major PWM brands (GS, JPM) that want the UHNW (25mm+) want their PBs and RMs cold calling?

Cold calling is for 250k-5m type of client. Over that you usually get a big fuck off on the phone for someone 5m+.

Don't generalize man.

With the exception of JP Morgan, that's exactly what they do. Cold-calling, networking with T&E attorneys/accountants, etc. The whole goal is to be proactively prospecting for new business. Unlike institutional sales, you are not given a book of business to manage and grow, you have to build it yourself. What do you think they do?
 

Become an elite call girl/escort :) They easily pull $250K+, don't pay taxes, work less hours than a teacher, and have plenty of perks on the job.

Other ideas: -owning a mining claim to a piece of land, and allowing companies extract resources for a fee -owning a tropical island and charging tourists for using it for retreats -owning a timber tract and charging companies for harvesting timber -owning a parking lot in a busy location of a major city (but hire a guy to collect money/tow away violators) -keeping $50M on savings account(s) -being a CEO of some kind of nonprofit that collects donations for a cause -being a popular lecturer/celebrity, taking $10-20K per appearance -working in the US as a consul of some exotic country

 

Haha, there were some funny but true ones in here. Congressman/Senator I heard, and that is pretty close, but I'd say you work about 80 hours/week except much of it is not what most people would call traditional "work".

I have a lot of clients. Some of my highest paid clients do business to business sales. I have 2 clients who are in their early 30s/late 20s who earn in excess of $300,000/year selling their firm's IT services to other businesses. They go to baseball games, football games, parties, mixers, etc. They are a huge value add and they earn their commissions, but it's a super cushy, high paid job.

 
John Daggett:
Private Practice Orthodontist, Dermatology, Plastic Surgery, ect. Cardiologist also pays well if you don't mind blood. Also Professor of Economics or Finance.

Agree with orthodontist- if I could comprehend any sort of Chemistry and Biology and could stand looking at teeth for hours I would've done that. Get done with dental school and residency by late 20's and make 250k+, no stress, no real emergency other than fixing a broken bracket on a kid...sounds pretty great. Whenever I saw my orthodontist he was cracking jokes and loving life 24/7.

 

Nobody wants to ask the OP what made him thinking to semi-retire? You haven't made yourself the king of hedge fund. why not keep trying, given your relatively young age? This kind of career transition sounds demoralizing to me.

I'm just a humble clown. I juggle around just for a good laugh of yours.
 

My best suggestion would be fund-of-funds investment management. The hours are 8:15-30AM to 6:00-30PM, obviously not a teacher's hours but quite low compared to IBD and the pay is not bad if you work at a reputbale AUM shop. Starting salary of around 80-90K all in as a first year analyst and you can move up the ranks. The 80-90K especially goes a long way in secondary-finance hubs liks Chicago, as opposed to NYC.

The work is very similar to PWM, but often times with less of the 'corporate' culture and stress of the bulge brackets.

 
mountainvalley:
My best suggestion would be fund-of-funds investment management. The hours are 8:15-30AM to 6:00-30PM, obviously not a teacher's hours but quite low compared to IBD and the pay is not bad if you work at a reputbale AUM shop. Starting salary of around 80-90K all in as a first year analyst and you can move up the ranks. The 80-90K especially goes a long way in secondary-finance hubs liks Chicago, as opposed to NYC.

The work is very similar to PWM, but often times with less of the 'corporate' culture and stress of the bulge brackets.

I can say with confidence that a 1st year analyst at a FoF does not make 80-90k all in.

 

Don't dentists have the 2nd highest suicide rate (after psychiatrists)? Sure, maybe they make decent money with decent hours, but maybe it's also mind numbingly boring most of the time.

 
Best Response

I've done a bit of research on franchises and have some first hand knowledge regarding 7-Eleven's, as my Aunt owns four of them. From what I've been able to gather from 7-Eleven is that it's not the kind of thing you can show up to less 40 hours per week and expect to be successful at. She frequently works holidays and I'm guessing she rarely works less than 60 hours per week. However, she has done quite well for herself and is able to sell each one for significantly more than she paid in the early 90's.

Note: Current 7-Eleven valuations in the NYC metro/suburb area currently offer a very poor ROI for new money. I've heard of people paying $900,000 for a 7-Even and making less than ~$60,000 per year in income off of it. I'm pretty sure most of them hit the ~$100,000 mark, but I'd still rather throw money at an S&P 500 index than wear a 7-Eleven uniform for that kind of ROI.

Subway is another franchise I've done quite a bit of research on, although their SBA default rate has climbed to 9.13%, which is still way above average but still higher than the ~5% default rate they used to offer. Not sure how relevant this information still is, but this guy seemed to know what he's talking about.

http://www.startupnation.com/whats-the-average-income-of-a-subway-resta…

"I own three Subway restaurants. I don`t want to make anyone mad, but some things posted here are either wrong or misleading. First off, I have been involved with Subway for 17 years, since 1989, and it is a good company.

The average store in the US does a little shy of $8,000/week. So for easy round numbers lets say the average store does $400k/year. It is relatively easy to pull 20% profit if you keep an eye on the business. I averaged 22.63% for the first quarter this year and I was in my stores an average of 10 hours or less per week so 20% is not that hard. But for the following estimate, lets use 20% average profit.

If you have a store that is merely average you should profit in the ballpark of $80k/yr.

Now lets say you were lucky enough to get a great location and you store does $15k/week (the area I am in has several stores that do this and much more in sales so it is very possible), well you should be making in excess of $150k per year.

Now, one or two stores are not going to make you a multi-millionaire, but you can make a comfortable living without much of a time investment.

Now lets switch gears. I`m not sure what article in Entrepeneur Magazine said Subway was rated one of the worst franchises? I would love to see a link to this article? Entrepeneur Magazine rated Subway the #1 franchise in their Franchise 500 for 2006. This was the 14th year Subway was rated #1.

Yes, Subway franchisees must purchase the food from one distributor, not from "the parent company". These prices are not "inflated". Infact, its just the opposite. IPC (Independent Purchasing Cooperative) was formed to negotiate prices and ensures all foods/supplies meet "Gold Standard" qualities. Some food distributors dont want Subway`s business because the pricing leaves so little room for distributor profits. With over 26,000 stores we have tremendous buying power.

If you purchase a subway you do not have the rights to a certain territory. Subway does not have "regional managers", but does have "development agents" a.k.a. "DA". Development agents"sole mission in life" is not just to open new stores. Yes, as their company given titles suggest they do focus on developing their given markets/territories. There have been some unhappy franchisees when stores were opened close to their existing store and sales were negatively impacted. However, this is not the norm. It depends on the DA. Most DAs are very conscious of their existing franchisees. DAs have contracts with Subways parent company, Doctors Associates Incorporated. Per their contracts, they must maintain a certain level of sales average in the market. Therefore, they cant just go putting Subways on every corner to meet the development numbers they need. They have to be smart in their development.

If you are considering Subway, talk to existing franchisees in the area and ask about their satisfaction with the DA of that area. Development Agents are also expected to ensure franchisees are operating within company guidelines by having field reps that inspect stores monthly. They do much more than just open stores.

Again, I`m not writing this to offend anyone who posted above. I just want to make sure that anyone considering Subway has accurate information. I hope this helps."

Jimmy John's would probably be my franchise of choice right now. http://www.forbes.com/2011/01/18/best-franchises-for-the-buck-entrepren…

"10. Jimmy John's Champaign, Ill. Founded in 1983, this gourmet sandwich chain rakes in tasty profits. In 2009 its stores posted average gross sales of $688,313 and a 23% average net profit margin. Average initial investment: $383,000 U.S. locations as of 1/1/10: 948 Closures between 1/1/07 and 1/1/10: 18 Hours of training offered: 172 Average royalty rate: 6% of gross sales"

They offer a solid ROI and their 3.51% SBA default rate pretty much indicates that it is a business model that you have to try royally hard to fuck up. Not to mention the average initial investment is pretty reasonable, especially if you manage to get an SBA loan. I'm guessing you can get the ball rolling with less than $100,000 of your own money.

SBA Loan Failure Rates: http://www.bluemaumau.org/sba_franchisee_failure_rates_brand_2012

Competition is a sin. -John D. Rockefeller
 
FrankD'anconia:
Second the laundromat idea: 1) relatively passive income 2) low barriers to entry 3) recession proof 4) all cash business 5) won't have to go back to school

My only concern with laundromats is, how do you verify that the previous owner didn't cook the books the year they put it up for sale? I'm guessing water consumption bills would be a good indicator?

This ROI sort of looks too good to be true: http://www.bizbuysell.com/Business-Opportunity/Laundromat-in-the-front-…

Competition is a sin. -John D. Rockefeller
 
Hooked on LEAPS][quote=FrankD'anconia:
Second the laundromat idea: 1) relatively passive income 2) low barriers to entry 3) recession proof 4) all cash business 5) won't have to go back to school

My only concern with laundromats is, how do you verify that the previous owner didn't cook the books the year they put it up for sale? I'm guessing water consumption bills would be a good indicator?

This ROI sort of looks too good to be true: http://www.bizbuysell.com/Business-Opportunity/Laundromat-in-the-front-…]

You ask for their tax return

 
Hooked on LEAPS][quote=FrankD'anconia:
Second the laundromat idea: 1) relatively passive income 2) low barriers to entry 3) recession proof 4) all cash business 5) won't have to go back to school

My only concern with laundromats is, how do you verify that the previous owner didn't cook the books the year they put it up for sale? I'm guessing water consumption bills would be a good indicator?

This ROI sort of looks too good to be true: http://www.bizbuysell.com/Business-Opportunity/Laundromat-in-the-front-…]

Just a point of interest - if you check the glossary for financial terms listed on the above website, it states:

"Real Estate: If the business has real property that can convey with the business, the value of the property may be included in the asking price or kept separate as an optional purchase."

Thus, that $99k asking price may be for the hoard of used laundry equipment, excluding the Bronx real estate.

 
SirTradesaLot:
Emphasis on cushy. Ideal would be teacher's hours with $250k+/year. Thoughts?

Just wanted to say that teachers work their asses off. I know because both my parents teach. My dad works AT LEAST 60+hours a week as a high school English teacher. And even during breaks he works 30ish hours a week doing teacher training, developing curriculum, etc..

Tenured professors might be a little better off but they do more than just teach and office hours. In addition to teaching professors spend an enormous amount of time doing research, writing papers, peer-reviewing work, sitting on Thesis/Dissertation committees, supervising clubs, and raising money/grants. Easily more than 50 hours of work per week and can get much higher than that. Doesn't mean it isn't fun and can't pay well, but it's not necessarily a "cushy" job in the vein of 35-40 hours a week.

The last act is tragic, however happy all the rest of the play is; at the last a little earth is thrown upon our head, and that is the end for ever.
 

Would have to agree with ARMMonkey on this in regards to teaching hours. My girlfriend is currently an "intern" teacher and works quite a few hours on lesson planning, after school aid, etc. and says that when she becomes "legit" full time teacher, those hours will only increase. While they may have summers off, I think that a lot of teaching jobs are falsely categorized as "cushy" compared to finance just because we work a lot of hours a week.

"History doesn't repeat itself, but it does rhyme."
 
streetwannabe:
Would have to agree with ARMMonkey on this in regards to teaching hours. My girlfriend is currently an "intern" teacher and works quite a few hours on lesson planning, after school aid, etc. and says that when she becomes "legit" full time teacher, those hours will only increase. While they may have summers off, I think that a lot of teaching jobs are falsely categorized as "cushy" compared to finance just because we work a lot of hours a week.

This.

My GF is student teaching right now. She comes home from work and make lesson plans / grades students papers till she goes to bed.

 

Surprised that serving on the Board of Directors for a couple companies or working at a fund of funds haven't been brought up more consistently. A family friend that serves on 3 or 4 BoDs makes ~$100k each and works ~10 days a year for each. Know someone who works at a FoF that makes ~$250k working ~45 hours / week. Both are pretty cushy and high paying.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 
NorthSider:
Surprised that serving on the Board of Directors for a couple companies or working at a fund of funds haven't been brought up more consistently. A family friend that serves on 3 or 4 BoDs makes ~$100k each and works ~10 days a year for each. Know someone who works at a FoF that makes ~$250k working ~45 hours / week. Both are pretty cushy and high paying.

...and you usually get onto those boards after a lifetime of accomplishment.

 
knivek:
NorthSider:
Surprised that serving on the Board of Directors for a couple companies or working at a fund of funds haven't been brought up more consistently. A family friend that serves on 3 or 4 BoDs makes ~$100k each and works ~10 days a year for each. Know someone who works at a FoF that makes ~$250k working ~45 hours / week. Both are pretty cushy and high paying.

...and you usually get onto those boards after a lifetime of accomplishment.

You can do FoFs with 2 years of experience. BoD definitely qualifies as cushy, either way.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 
DCDepository:
If you buy a business based on 1 year of financials then you are a fool.

What about less than 1 year of financials? Oh wait, wasn't that the Facebook IPO?

 

Honestly surprised nobody has said I should try out for the Jets yet. They work part-time and make enough to survive. Of course, they get the shit knocked out of them, but it fits most of the other criteria. Also, there should be plenty of openings.

 
SirTradesaLot:
Honestly surprised nobody has said I should try out for the Jets yet. They work part-time and make enough to survive. Of course, they get the shit knocked out of them, but it fits most of the other criteria. Also, there should be plenty of openings.

Cheerleaders too.

 

Growing up I knew a guy whose parents immigrated to NYC with no money in their pockets, father worked car service and eventually started his own company with a few cars. Fast forward years later he merged with another growing company and is now making $300k per year doing absolutely nothing as a partner.

Does commercial banking make the list? I have been hearing that work/life balance is great (approx 40h) and you can make good money at the upper levels when factoring in bonus. There was a poster on this site who informed me he was making ~150k all in living in a very small town working at a regional bank at the VP level, probably can go up to close to 300k at a BB at the VP/SVP level.

 

Specialized Doctor with own practice. G/F's grandfather started the first practice for a specialized field in his local area. Over time he picked up 7 more doctors and was clearing $450k working 3 days a week in his mid 60s (5 years ago, now retired), largely due to owning the entire practice for the wealthy surrounding county. Now he makes even more money as two of the doctors are paying him off for the practice ownership and he doesn't work at all.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
AsianMonky:
In all seriousness, isn't equity research the best answer? Obviously a lot riskier than starting franchises...I've read somewhere on WSO that after 10~15 years you can work 7-5 and clear 1m+ if you're good.

If you want an II ranking, you are working well past 7-5. Traveling to meet clients, managing executive relationships, preparing industry reports/surveys...it isn't an easy job. Some ER groups work IB hours.

But if you don't care about II ranking and are fine with $300k - $500k, then you can basically go on autopilot. There are some really lazy analysts out there who constantly recycle reports, outsource their writing, rarely arrange client events, etc. Keep in mind, these are the guys who will probably get laid off in a downturn.

 

the best i can think of is a director for a hedge fund.

you get to live in cayman, bermuda, BVI, basically any warm weather tax shelter you'd like.

you get paid over 10,000 per quarter to do nothing. I never met any of the directors for the hedge fund i worked for and i never saw my CFO or COO even speak to them on the phone.

best part is that there is no limit to how many hedge funds you can sit on the board of. so if you're a hot shot lawyer who advertises his availability to sit on boards, you can live wherever you want on minimal work.

corporate governance sounds great in theory, but it's a sham in practice.

 

For the last six years I've worked as a rotational engineer at a major oil and gas company. Pay is in the range you stipulate and I only work half a year (one month on / one month off). Because I am rotating I can live anywhere I want so I chose Thailand. Taking into account travel days I am out of Thailand more than half the year thus no taxes paid.

I worked my backside off to get to this position but my current job is pretty easy considering how much it pays.

 

Since this thread's still chugging along, I actually got 2 real suggestions (apologies if they've been mentioned already... don't feel like checking): 1) fund raising 2) head hunter Both for HFs obviously

 

Being a professor is a great lifestyle job... once you get tenure. I've seen it first-hand, there are many academics in my family. Unfortunately that train has already left the station. It was much easier a few decades ago. In the past couple of decades, there have been tons of foreign students (deservedly so) flooding PhD programs, plus unemployed liberal arts grads getting PhDs just to delay the inevitable.. classic supply and demand imbalance. Meanwhile being a tenured professor is a cushy job with very low turnover, in certain fields, there might be one or two job openings a year. Furthermore, by trying to become a professor you are taking a long position on the higher education industry - is that a bet you want to make?

Most classic "lifestyle" jobs are ones that require a big upfront investment of back-breaking grinding and then a long tail of coasting once you make it. I would include in this bucket academia, the ROAD specialties (radiology, ophthalmology, anesthesiology, and dermatology), PWM/PB/other high end sales jobs, etc. After all, a job that pays well and offers a great lifestyle would represent a classic market inefficiency if it were easy to get - why wouldn't everyone want this job? In other words, assuming a somewhat efficient labor market, these type of jobs should only be attainable by cashing in a load of chips that have been accumulated through hard work or some exceptional qualification.

Head hunter and capital raiser are decent suggestions, assuming you have a strong network (again another form of chips to cash in).

 

Thanks everyone. Things like Doctor, professor, etc. are never going to work for me. Too old to go back to school. I do have some chips to cash in, but not sure if it's quite enough yet to coast forever. Like I said, I'm not really looking for a high paying job, just something that has a lot of flexibility. I guess I'll just keep looking until I find the perfect easy job.

 
SirTradesaLot:
I'm not really looking for a high paying job, just something that has a lot of flexibility. I guess I'll just keep looking until I find the perfect easy job.

$250K+ is a damn well paying job, considering that median income in the US is only a bit higher than $30K. So you do look for high paying jobs, top 0.5% or even more exclusive. And then you want it to be easy on top of that.

Yeah, that's what daydreaming is for.

 
etherlord:
SirTradesaLot:
I'm not really looking for a high paying job, just something that has a lot of flexibility. I guess I'll just keep looking until I find the perfect easy job.

$250K+ is a damn well paying job, considering that median income in the US is only a bit higher than $30K. So you do look for high paying jobs, top 0.5% or even more exclusive. And then you want it to be easy on top of that.

Yeah, that's what daydreaming is for.

Relatively speaking, I mean. I am aware that the average wage is less than $250k in the US, but it's also a lot less than the average person with 15 years of experience on Wall Street. I'm not trying to be a douche, but I guess it kind of comes naturally after working in this industry for so long. Sorry if I offended you somehow.
 

I think in your situation, being a board memeber at various funds / companies can provide that level of income. Also, depending on the chips you have to cash in, you could build up a porfolio of passive investments (somethign like rental properties managed by a management company if you have sufficient properties or an apartment block)

 

I don't know much about it however you could look into buying FedEx ground routes. I don't know how to accurately describe it but essentially FedEx doesn't own the trucks and drivers you see delivering packages. They outsource all (I think) of the ground delivery (not semis though I believe) to bidders who buy the routes and are responsible for the deliveries. They are bought and sold just like equities if you look for routes for sale. Some guys own/operate on their own route and will include the truck(usually Dodge Sprinter) and some training in the purchase sale or they just manage and will include the truck and driver who is familiar. Like I said I am no expert but its something different.... Food for thought

 

Some programming/software engineering jobs have it really good. I know a website consultant/developer and works at home, hours are his discretion, rakes in around 250k a year. Except for occasional spikes in web traffic and certain maintenance work that needs to be done at strange hours, I can't think of a cushier job. He's free to take care of his kids, cook, go to the gym, binge on TV shows, whatever.

Genius though, goes through computer programming books like its a Dr. Seuss book

 

Sure you can make $240,000-$250,000 a year in a "lifestyle" career. Have an ecommerce business or a handful of them profiting $20,000/month. Then outsource all the work and inventory so that customer service is handled overseas(cheap labor) and the product is dropshipped(you don't need to hold inventory). Or better yet, license a brand or product and receive cash flow without doing any of the work. The question you asked is the wrong one, "lifestyle job". You will never make this kind of money and have that kind of freedom working for someone else. You need to be an entreprenuer.

PM me if you want more information. If this down not appeal to you, then become an investor while you work at the bank/hedge fund.

My finance blog: AdviceAboutFinance.com Twitter @samleefinance
 

SirTradesaLot, did you come up with any more ideas? I'm racking my brain trying to come up with similar ideas that lead to a salary of $50K+ while traveling. So far, the only stuff I see are things like copywriter, SEO consultant, PPC consultant, web developer, etc. I guess if you worked your tail off for a few years, you could probably get really good at one of these skills, and then start pulling in $250K+ with more flexible hours.

 
econ:

SirTradesaLot, did you come up with any more ideas? I'm racking my brain trying to come up with similar ideas that lead to a salary of $50K+ while traveling. So far, the only stuff I see are things like copywriter, SEO consultant, PPC consultant, web developer, etc. I guess if you worked your tail off for a few years, you could probably get really good at one of these skills, and then start pulling in $250K+ with more flexible hours.

No. The closest I found was what they call the 'investor' role at JP Morgan and equivalent jobs at other private banks. You can live in many different towns (although, you have to choose one). The job pays about $300-500K per year and it looks like you work about 40 hours per week, plus the occasional sporting or dinner event. Pretty good if you ask me, but not the ultimate in flexibility like I was dreaming about.
 

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