What's the smartest thing a recent graduate can do with the money they earn from their first job/bonus?

Just curious what the brilliant minds of WSO have to say about this. Obviously it's a good idea to pay down debt and not spend your money on a sports car, but also given the current interest rate environment - maybe it makes sense to pay down school debt slowly and invest all disposable income into the market?
Should I save for a property right away?
Should I live at home for as long as possible?

What would you do if you could go back to being 22 right out of school to make yourself richer today?

 
whatsapitchbook:

Should I live at home for as long as possible?

What? No. Move out immediately. Be your own man/woman.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Most Helpful

False. If you're working a very high paying job directly out of school (banking) and have the opportunity to live with your parents for your analyst years, absolutely do this. If your parents live conveniently close enough to your job, this will literally be ~100k after tax that you will pocketing, or 150k pre-tax. The majority of the income of any young person's first job will go towards rent, especially if you live in a big city. There is no shame in doing this financial no-brainer. You will have the rest of your life to wear the big boy pants and all the independence and responsibility the comes with it, but this way you will have a 2 year financial head start on your peers. Moreover, the money you save can put you on the path to property ownership in your mid twenties, which is one of the most proven avenues of wealth generation (if you plan on living in your home 5+ years). This is all of course assuming that you and your parents have a good relationship and both parties understand the nature of your job / schedule.

 
Controversial
iggs99988:
False. If you're working a very high paying job directly out of school (banking) and have the opportunity to live with your parents for your analyst years, absolutely do this. If your parents live conveniently close enough to your job, this will literally be ~100k after tax that you will pocketing, or 150k pre-tax. The majority of the income of any young person's first job will go towards rent, especially if you live in a big city. There is no shame in doing this financial no-brainer. You will have the rest of your life to wear the big boy pants and all the independence and responsibility the comes with it, but this way you will have a 2 year financial head start on your peers. Moreover, the money you save can put you on the path to property ownership in your mid twenties, which is one of the most proven avenues of wealth generation (if you plan on living in your home 5+ years). This is all of course assuming that you and your parents have a good relationship and both parties understand the nature of your job / schedule.

This isn't a monetary decision for me. To gain independence and spread your wings is to live.

To find your true self and true desires, you must detach from parental roles and free yourself to provide direction for the beginning of the rest of your life. Without this independence, you are living under their direction, under their wants/needs to a certain extent. You are saving money, but at what cost? What is the opportunity cost of making a misstep in the initial trajectory of your life?

True, you may go to work and perform well and come home to dinner with Mom and Dad and they will applaud you on your bonus and hard work. But, how long have you been listening to them? Is this path your true path? What if you want to do something that they do not approve?

The first couple years after graduation are an outstanding time to find your heart's desires and the direction you wish to travel for the rest of your life. So, choose these steps wisely.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Funniest

Operating under the assumption that said young individual entering the workforce is intelligent, grounded, and has had the opportunity to live independently and find himself (whatever that means) during the four years spent on a college campus, I'm not sure how much "wing spreading" to "live" will be taking place for an overworked analyst coming back to his Hells Kitchen shithole studio at 2 am.

 

Sending all of my money to rent, student loans, and expenses for most of my 20s certainly didn't make me feel very free at all...

Don't live with your parents for ages, but if you swallow your pride for a year and put a $100K in the bank, you're going to be way better than off than a bunch of "free" people who are 5 years older than you.

 

Joseph Kennedy Sr, one of the richest Americans of the 20th century, intellectually independent and tough as nails, lived in his parents' home while being the president of a small Boston bank, running his own "tourist bus" enterprise with a friend and managing the books of a real estate company he ran with another friend. This was all in his mid to late twenties.

 

$100k? Wtf? Even if you live in manhattan, unless you are a dumbass analyst, you shouldn't be paying more than $2k a month which is roughly $25k total x2=$50k + furniture of $5k tops=$55k

Yeah if you can live at home it's great to have $55k to put away but then again if your parents live in manhattan or in commuting distance money probably is not a concern for you lol

 
thexfactor336:
If you have 1-2 months off before you start work, travel the world. There's very few times in your life where you'll have a few months off like this again before retirement. This isn't an ROI decision with your money, but a life experiences decision.

Yeah, this is what I did. I highly recommend it.

I traveled for a couple months. I went back to Europe and also down to Africa. I surfed Jeffrey's Bay in South Africa and ran into Kelly Slater down there in a random bar when he was surfing the Billabong Pro. I even got a picture with him. Pretty surreal. He was playing the guitar in a bar. Anyway, yeah I went to Capetown and also sampled some wine in Stellenbosch, then flew back up to Europe to pick up some clothes in Milan and then back to the US to start working.

I actually went to the city I was moving to after graduation, lined up an apt a couple months in advance and then traveled, flew back to my old city, packed everything in my car and drove straight to my new apartment. It worked out really well.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Isaiah_53_5:
thexfactor336:
If you have 1-2 months off before you start work, travel the world. There's very few times in your life where you'll have a few months off like this again before retirement. This isn't an ROI decision with your money, but a life experiences decision.

Yeah, this is what I did. I highly recommend it.

I traveled for a couple months. I went back to Europe and also down to Africa. I surfed Jeffrey's Bay in South Africa and ran into Kelly Slater down there in a random bar when he was surfing the Billabong Pro. I even got a picture with him. Pretty surreal. He was playing the guitar in a bar. Anyway, yeah I went to Capetown and also sampled some wine in Stellenbosch, then flew back up to Europe to pick up some clothes in Milan and then back to the US to start working.

I actually went to the city I was moving to after graduation, lined up an apt a couple months in advance and then traveled, flew back to my old city, packed everything in my car and drove straight to my new apartment. It worked out really well.

How much can travelling like this cost though? My parents are middle-low class income and can't support me through travels, buying a car, rent, or helping me pay down school in any way. Is travelling going to be a good investment for me still?

STONKS
 

I disagree with the 'move out immediately' comment. If you can live there for even an extra year, you're talking between most likely 12-20K of extra money to be able to put towards an investment/down payment on a house, etc. I don't think you should live at home that long, but it's definitely acceptable until you're 23. It gets really depressing watching the rent check go out the window every month for 5+ years.

"Who am I? I'm the guy that does his job. You must be the other guy."
 
MonkeyWrench:
I disagree with the 'move out immediately' comment. If you can live there for even an extra year, you're talking between most likely 12-20K of extra money to be able to put towards an investment/down payment on a house, etc. I don't think you should live at home that long, but it's definitely acceptable until you're 23. It gets really depressing watching the rent check go out the window every month for 5+ years.

Yeah, good luck dating.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Most girls I dated from 22-27 lived with their parents - it's not like the majority of people are trust fund babies with a loft all to themselves. If you spend one year being disciplined and saving some $, you can buy your own place much quicker. Much easier to date/bring women home to a place you own outright rather than to a one bedroom apartment that you've partitioned and are living in with 3 of your closest friends and 200+ rats living in your ceiling HVAC.

"Who am I? I'm the guy that does his job. You must be the other guy."
 

I'm not even investing in a 401k so I don't have room to talk but I'm billing the firm for every meal i consume as an analyst so thats that.

What concert costs 45 cents? 50 Cent feat. Nickelback.
 

I mean you are and you aren't. If you're not investing the money in anything else then yes, but if you are not investing in a 401k but then use the after tax proceeds to invest in something else like an after tax account/IRA or real estate, it's probably a 50/50 shot which would be more profitable over time. You are going to get taxed on the 401k eventually. There's a high likelihood that the tax rate only increases with time as opposed to decreases, so you may take a bigger hit to value later while you get the tax benefit today. If you avoid a 30% payment today but it's 40% in the future it's not really beneficial unless you hit a period where your returns are absurdly out sized over the term your 401k is active.

"Who am I? I'm the guy that does his job. You must be the other guy."
 

live at home if you can without question.

be careful where you spend your money. buy HIGH QUALITY things - furniture, backpacks, clothes, electronics, etc whatever it is. Go with more is less and higher quality over cheap.

The $30 backpack isn't better than the $130 of high quality given how much use you get out of it for example.

obviously invest money, we are on a finance website...

 

I am more or less in the same position as you. My thinking is sock away as much $$$ as possible in your analyst years. Assuming your family lives in or near the city where you work it makes sense to bite the bullet socially considering your hours might be prohibitively long - so why shell out so much money on rent? Additionally, it makes sense to at the very minimum take the 401K company match since that's free money after it fully vests. I would dice up the rest for your expenses and invest the remainder according to your risk appetite. Main takeaway: hedge against unpredictable events in the future (getting laid off, bootstrapping a startup, etc.) by saving as much money as possible until things stabilize.

 

One thing I DEFINITELY regret was not taking advantage of IRA tax rate arbitrage before/during business school.

While you're working, you're saving the full marginal rate on any investments you make in your retirement account. If you take out the funds the year you complete the first year and start the second, your income will be whatever you pick up from a summer job, so your marginal rate will be very low.

There's a 10% early withdrawal penalty, but the likely round-trip tax benefit will help pay some of your business school bills. Not a ton of dough, but why not?

 

Invest in a start-up. Kitten Mittens.

http://www.youtube.com/embed/47D9-U8hn5I

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

Setup a Vanguard account, spread it out across 4-5 funds, let someone more experienced than you make the investing decisions. Just keep plowing money into it, and you'll be amazed at how much you accumulate.

 
djfiii:
Setup a Vanguard account, spread it out across 4-5 funds, let someone more experienced than you make the investing decisions. Just keep plowing money into it, and you'll be amazed at how much you accumulate.

incredulous response

you may as well give him bernie madoffs number 5 years ago.... Guaranteed way of making money? Doesn't exist.

Whenever i get some cash i'll be putting it into property to rent out, no mortgage purchases. Whatever happens to the value of houses, or the economy, I'll be earning in real current value currency, guaranteeing me an income to sustain a decent quality of life.

 

Check out how most of the landowners in the world got their fortunes....

Trusts ===> Buy property ====> rent or sell leasehold ====> Buy more property with profits.

djfii

"Setup a Vanguard account, spread it out across 4-5 funds, let someone more experienced than you make the investing decisions. Just keep plowing money into it, and you'll be amazed at how much you accumulate."

You could be being incredibly ironic and suggesting that he will lose it all, and be amazed by that, but I doubt it. At no point did you mention what the returns would be, the risks involved and the fees if he makes money/costs if he doesn't, how fast he can access his money if required.

I will answer your sarcastic comment at the end: Food is perishable, and i stand to inherit enough land to sustain myself off so do not adjust my plans for that too much in the current climate (Weather).

I don't live in the US so accumulating a bullet cache is not an issue. I'm not trying to fight off the zombie apocalypse, but for me the mass hoarding of wealth by the rich, and instability in currencies/sovereign debts in the major currencies could lead to hyperinflation in one of them/or a massive increase in the cost of living.

I wish to protect myself against those eventualities and will do so by buying property to rent. This guarantees AN income in a relevant and meaningful currency. It may not result in a profit on my investment but it is highly unlikely that I will not have a comfortable life, if I don't make any suicidal decisions.

I would like to hear why you think it's retarded. Calling someone out on the internet isn't hard. Give reasons if it's so obvious.

Growing population, increased lifespan. Commodity prices soaring.

 
trazer985:
Check out how most of the landowners in the world got their fortunes....

Trusts ===> Buy property ====> rent or sell leasehold ====> Buy more property with profits.

djfii

"Setup a Vanguard account, spread it out across 4-5 funds, let someone more experienced than you make the investing decisions. Just keep plowing money into it, and you'll be amazed at how much you accumulate."

You could be being incredibly ironic and suggesting that he will lose it all, and be amazed by that, but I doubt it. At no point did you mention what the returns would be, the risks involved and the fees if he makes money/costs if he doesn't, how fast he can access his money if required.

I will answer your sarcastic comment at the end: Food is perishable, and i stand to inherit enough land to sustain myself off so do not adjust my plans for that too much in the current climate (Weather).

I don't live in the US so accumulating a bullet cache is not an issue. I'm not trying to fight off the zombie apocalypse, but for me the mass hoarding of wealth by the rich, and instability in currencies/sovereign debts in the major currencies could lead to hyperinflation in one of them/or a massive increase in the cost of living.

I wish to protect myself against those eventualities and will do so by buying property to rent. This guarantees AN income in a relevant and meaningful currency. It may not result in a profit on my investment but it is highly unlikely that I will not have a comfortable life, if I don't make any suicidal decisions.

I would like to hear why you think it's retarded. Calling someone out on the internet isn't hard. Give reasons if it's so obvious.

Growing population, increased lifespan. Commodity prices soaring.

Not going to explain anything. You're not worth our time. This post just sealed it.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
trazer985:
Check out how most of the landowners in the world got their fortunes....

Trusts ===> Buy property ====> rent or sell leasehold ====> Buy more property with profits.

djfii

"Setup a Vanguard account, spread it out across 4-5 funds, let someone more experienced than you make the investing decisions. Just keep plowing money into it, and you'll be amazed at how much you accumulate."

You could be being incredibly ironic and suggesting that he will lose it all, and be amazed by that, but I doubt it. At no point did you mention what the returns would be, the risks involved and the fees if he makes money/costs if he doesn't, how fast he can access his money if required.

I will answer your sarcastic comment at the end: Food is perishable, and i stand to inherit enough land to sustain myself off so do not adjust my plans for that too much in the current climate (Weather).

I don't live in the US so accumulating a bullet cache is not an issue. I'm not trying to fight off the zombie apocalypse, but for me the mass hoarding of wealth by the rich, and instability in currencies/sovereign debts in the major currencies could lead to hyperinflation in one of them/or a massive increase in the cost of living.

I wish to protect myself against those eventualities and will do so by buying property to rent. This guarantees AN income in a relevant and meaningful currency. It may not result in a profit on my investment but it is highly unlikely that I will not have a comfortable life, if I don't make any suicidal decisions.

I would like to hear why you think it's retarded. Calling someone out on the internet isn't hard. Give reasons if it's so obvious.

Growing population, increased lifespan. Commodity prices soaring.

the premise of your strategy is that currencies are so devalued that they become useless, thus owning real property outright shields you from currency risk. But you are relying on rental income from people that will be paying you with currency. Since, in your world, currency is no longer useful..... see the problem you have?

Summary: shut the fuck up. If global currency markets collapse, we'll all have bigger things to worry about that investing for retirement, and no whack job fringe strategy you dream up will protect you from the armed masses that rape / pillage / murder their way across the world searching for food and other resources. And, since you can't reasonably prepare for an eventuality like that, you might as well get on board with the current system and benefit if things do work out ok.

dipshit

 

you're presuming a lot to think that there wouldn't be complete political upheaval in the US in response to an event like hyperinflation of the dollar. You're also presuming a lot to suggest that it would be localized to the US, since the dollar is the reserve currency used by the entire planet. The idea that property rights would survive that process is re-donkulous.

 
djfiii:
you're presuming a lot to think that there wouldn't be complete political upheaval in the US in response to an event like hyperinflation of the dollar. You're also presuming a lot to suggest that it would be localized to the US, since the dollar is the reserve currency used by the entire planet. The idea that property rights would survive that process is re-donkulous.

glad to see we've stopped the name calling.

Given that every man and his dog has a gun in the US, I can see it certainly being harder for people just turning up and taking your land. I won't pretend to understand the US though so I wouldn't stand by that other than as a logical deduction. I live in Europe and we clearly see property very differently, understandably given the difference in size of land available. It's what I will be doing, it's what my family are doing, and it's what some of our well off friends are doing with the majority of their incomes, with spare cash going into cash generative businesses that yield regular dividends.

 

good luck with that.

I don't know why you're surprised at being called a dipshit when you quote a very reasonable suggestion and call it incredulous. Your position assumes a level of certainty about the way things are going to play out that is completely unreasonable. As far as I'm concerned, my approach is far more likely to succeed than yours, and my basis for believing that is at least as bullet proof as yours.

 
djfiii:
good luck with that.

I don't know why you're surprised at being called a dipshit when you quote a very reasonable suggestion and call it incredulous. Your position assumes a level of certainty about the way things are going to play out that is completely unreasonable. As far as I'm concerned, my approach is far more likely to succeed than yours, and my basis for believing that is at least as bullet proof as yours.

The kid has something terribly wrong with him, not sure why you are trying to educate him. I think you'd have better luck training a dog to shit in the toilet.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

your post came across as a way of reaping in huge rewards with very little effort (other than signing over cash). This simply doesn't exist, in my cynical view of the world. Your approach may have a higher probability of success, but what are the losses if it fails? These aren't quantifiable and so arguing this is a futile exercise. What returns do you anticipate from a vanguard account?

 
trazer985:
your post came across as a way of reaping in huge rewards with very little effort (other than signing over cash). This simply doesn't exist, in my cynical view of the world. Your approach may have a higher probability of success, but what are the losses if it fails? These aren't quantifiable and so arguing this is a futile exercise. What returns do you anticipate from a vanguard account?

Let's say I expect an average 6% return over 25 years. That's fairly conservative. If I bank $100k each year, and earn 6% on average, a quick and dirty calculation (i.e. not accounting for actual swings in returns, or timing of deposits throughout the year), gives me about $5M in 25 years. And that assumes zero balance today. That's enough to live on dividend / interest income (for me), with little or no impact to principal. And that doesn't take into account what I already have in the bank, which would put me at $10M in 25 years.

You might make more on real estate, but you have the headache of dealing with tenants, with evictions, with upkeep, with liability, with risk of costly property damage, etc. I don't know how it is in Europe, but over here, a lot of renters don't give a shit about treating your property like it's their own, so you can expect to constantly be replacing carpets, cabinets, painting walls, etc, So, feel free to make that choice for yourself but don't condescend to people that take different approaches to investing. Just because you're paranoid about hyperinflation doesn't mean everyone else has to be.

 

Give it to me. My portfolio (equities only, no short strategy) is up 17% since March 2011.

Just sayin.'

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 
mhurricane:
Give it to me. My portfolio (equities only, no short strategy) is up 17% since March 2011.

Just sayin.'

Excuse my french, but I'm in France.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

Trazer is disagreeing with some pretty smart people, but on some level, he has a valid argument.

Most individual fortunes tend to be made through small businesses and real estate. Yes, stocks are a lot more liquid, but you're (1) paying a lot of money to management, (2) suffering from agency costs, and (3) suffer from accounting risk and (4) insider trading if you have a lot of turnover. Finally, of course, we are in the midst of a ~15-20 year cycle where the markets enter and exit at about the same price (11,000) (Same thing happened with the DJIA at 1000 from 1965 to 1983; same thing happened from 1929-1947 with the DJIA at 100)

If you own a condo that you live in or rent out, you don't have to worry about all of that- assuming you have responsible people on your condo board. You pay your $6000/year in property taxes, $300/month in maintenance, and collect your $1500/month spread in rent.

A condo that you happen to live in and own outright is even better. Collecting investment income in one place and spending it on rent in another is much less tax-efficient than owning property and not paying the economic rent in the first place.

So given cap rates of 5%, dividend rates of 4% on utilities, and the fact that the cap rate you "earn" or avoid paying taxes on in an apartment you own outright is completely tax-free, and 5% state taxes, you're really getting the equivalent of a 6.25% dividend stock by buying your apartment rather than investing in the stock market.

That said, property values don't always go up and can lose fundamental value. Just ask any landlord in Detroit who used to be collecting $700/month on a $100,000 house and is now getting $200/month on a $30K house.

But finally, unless OP lives in Detroit or in a really bad section of town, he can't afford to buy real-estate yet with his summer income. I would advise him to take advantage of his low-tax high-savings situation and stick it into a Roth IRA and also buy some Series I savings bonds.

 

fair enough. I don't know if you've ever been a land lord, but it's almost never the case that a 1 month security deposit is going to cover the cost of damages if there are any. Either way, I suppose I'm willing to pay that premium in exchange for freeing up my time. but to be fair, you're taking a different angle than trazer. His rationale was that the world is coming to an end, so the only sane place to park your money is in hard assets. I dismissed that as paranoid. Your argument on the other hand, is that you can optimize your returns more effectively with those hard assets (real estate in this case), which is true, and is a completely reasonable basis to make the decision to invest your eggs in real estate (assuming you also want to invest that extra time and energy).

also, that calculation was fairly arbitrary. Maybe assume, instead of $100k each year for 25 years, it goes up by $5k each year so that on year 25 you contributed $220k to savings. At the same 6% average return, you have $7.75M at year 25, and $11.75M at year 30. Or maybe you get a little aggressive and open accounts with a couple hedge funds (admittedly I have no idea what kind of minimum balance is required for that little adventure... $1M+ ?), and you pull of an average 8% return. Then you have $10.1M at year 25, and $16.2M at year 30. Even inflation adjusted numbers provide a pretty good living from dividends at those levels.

 

Thank you for the clear and easy explanation. Sometimes I have difficult with some of the videos posted because they go so fast and seem really complex. You broke this down nicely.

 

This guy is one of the best mentors (top 2).

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 

You unemployed?

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

What I did with my first bonus back in the days: - Saved a good majority and allocated part of the savings to equity investments. - Bought a nice watch. - Took a trip with 15 friends (2/3 of them from my analyst class). We ended up spending a lot more than planned (boat rentals, bottle service, car service, dinners, etc). - Got two custom tailored suits and a half dozen shirts from one of these HK-based tailors + 2 pairs of spiffy shoes. - Bought a few gifts for people that mattered, and said "Aaah, don't worry it's on me!" way too many times at the end of dinners and/or drinks with friends not in banking.

Then you face reality and got to go back to living within the means of your base salary. The key is to not subsidize your 2nd year spending habits with your bonus -- an easy temptation.

I can tell you of different stories, like that banker-girl in my group who used almost all of her bonus to pay off her massive credit card debt. (She complained about how it was impossible to live on a 1st year base salary, while putting her $2.5k Burberry coat on.)

Aei ho theos geōmetreî
 

If we're talking about bonus... Spend on some nice clothes, one nice vacation with the woman, send some home to the family, invest the rest (which ends up being > 50%)

If we're talking about base... Rent.

I hate victims who respect their executioners
 
FutureQuant:
1st year analysts aint got no mo money.

Why? Because the rent is too damn high.

You seem to be a litany of second and third hand information. Plenty of analysts live more than comfortably within their base and still have enough left over to splurge every now and then.

It isn't a king's ransom but it isn't a penance either.

[quote=Dirk Dirkenson]Shut up already. Your mindless, reflexive responses to any critical thought on this are tedious. You're also probably a woman, given the name and "xoxo" signoff, so maybe the lack of judgment is to be expected.[/quote]
 

GoldmanRacks, shame nobody has responded. Maybe one of these topics will help:

If we're lucky, the following pros may have something to say: Gman660 bekele white33matt

You're welcome.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
BTbanker:
How does one "stumble" over this?

My guess is that he was googling 'sweet gelatin cubes,' happens to me without realizing probably twice a day.

This to all my hatin' folks seeing me getting guac right now..
 

I'm going to spend my money at the Dior Homme boutique, buying 400 dollar sunglasses and gay looking polos and black skinny jeans.

Then, I'm going to go out with my analyst buddies and get hated on the whole night for spending 2000 on quite possibly the gayest outfit ever.

Rock on.

 

Asking someone how they are going to spend their bonus is like asking someone what they are interested in. People will spend their money on what interests them, regardless of whether it is bonus money or normal wages.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

if my first comment wasnt ridiculous enough, i thought that maybe some of you would get it the third time around

but for those who are still confused, this is how i am really going to spend my bonus...

bender in vegas. thats right. all of it

i thought a car would too closely resemble an "investment." this moneys burning a hole in my pocket, so if you'll excuse me, i have a plane to catch...

catching on yet?

 

Start shoving it up yer ass till you have enough holed up in there for six months worth of not working. Margin of safety. First rule.

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” - Schopenhauer
 

I'd wait and see what other news comes up in the markets. No one really has a clue right now.

I'd start maybe in a month or two maybe putting a 2-3K at a time into the markets.

I like FTR, paying a 10.3% dividend. with stable growth. Not sure if it would make sense with only 10k maybe 40-50k saved up. with 10k I'd buy APPLE at incremental dips (like now) for the next year or so. Or throw 10k in AAPL long and sit.

 

You are already long the market by working in a bank. Have you heard about diversification? Do not invest in equity. As simple as that. That said, given I work markets and sometimes I can see good opportunities, I'll take it (but that happens about once a quarter...) So not investing per se, more like opportunistic money making. (IE: BP after the oil spill, SocGen after the fake rumours in the market, etc...)

If you got cash I suggest you save up for a mortgage, but plenty of people will tell you not to. If you buy a flat, effectively paying the return on your investment based on yourself, that's a pretty good investment; as you don't have to worry about anyone making payments to you but yourself.

So look for the best saving rate you can find out there while saving up for a mortgage kiddo!

I heard Greek bonds pay 21% for 10 yr bonds as well...

 

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Vel laudantium cum impedit veritatis sed voluptate beatae. In sed sequi ad. Praesentium libero eveniet sit ut magnam nihil. Qui ut in culpa et et eum.

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"Every man should lose a battle in his youth, so he does not lose a war when he is old"
 

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Rerum molestiae earum qui delectus recusandae omnis sequi alias. Totam dignissimos nulla voluptatum omnis laudantium et. Temporibus ducimus sit fugit ut impedit voluptatem aut. Et sed et quod et voluptates enim harum.

Ab inventore optio temporibus vero. Impedit vero et nesciunt fuga veniam. Aliquid expedita amet vero consequatur incidunt. Debitis mollitia aperiam deleniti vero. Aperiam est asperiores omnis voluptas itaque sint ut voluptatem.

Rerum modi deserunt quam soluta soluta inventore. Voluptate asperiores aut expedita illum.

 

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"It's a little like wrestling a gorilla. You don't quit when you're tired you quit when the gorilla is tired" -Robert Strauss

Career Advancement Opportunities

March 2024 Investment Banking

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  • Goldman Sachs 19 98.8%
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Overall Employee Satisfaction

March 2024 Investment Banking

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Professional Growth Opportunities

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Total Avg Compensation

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notes
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