Just out of curiosity, how many of you have net worths (assets - liabilities) exceeding $2M+? Seems like a lot of you must be given your base + bonus each year.
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Self-made net worth pls guys
Very recently reached just past that level. 99% luck in the stock market driven by yolo calls.
I’ve made less than $600k from salary + bonus since I started working.
Interesting. Why do you continue to work just out of curiosity?
Tf else am I going to do? I seriously thought about joining the military but have medical issues. I could maybe get in, but my body most likely would not hold up.
The biggest thing it’s given me is freedom knowing I could quit my job and be fine. I no longer stress about money. I have no worries about paying for an MBA when/if I do one, or one day affording a house when I buy one.
One worry I have is getting complacent. Once that influx of money hit, I kept grinding at the gym for a few more months then started getting looser with my regimen. Then my dog died and I kept working out but my diet went to shit. A year and a half later and I’m much heavier than I want to be.
Why not settle down and start a family and/or have kids?
Why not travel the world and explore now to keep yourself occupied?
Sorry to hear about your dog. Your situation makes me think of this John Goodman monologue.
Completely forgot about that movie (solid imo). Yeah that’s basically me but I haven’t bought a house. I was looking today and sure, it might make sense from a numbers perspective, but I plan on leaving my city within 3 years. Maybe a bit more lucrative if I bought a couple years ago when I got the big chunk of change, but I didn’t have near the level of income I have now.
I’ve done a lot of self reflection which I think you can see from my comments/post history. One thing I know I’m not good with is death. Only 2 deaths in my family have truly impacted me: my grandpa my freshman year college, and my dog, which happened a few years after college.
From my POV, you can never fill the hole the death leaves in your heart. My parents got a new dog who I love, but he doesn’t replace the dog I grew up with. It’s just an addition to my life. Since turning 25 (started feeling like this late 24), I’m much more “emotional”. Have seen where males brains develop fully at 25 and truly believe this is what’s happened.
I no longer find cartel murder videos cool or funny. I get a lump in my throat on say Memorial Day reading about POW’s and those MIA at ages younger than I am today. 20 year old me might call today’s me a pussy, and I’d just laugh and say it’s ok, one day you’ll understand.
I didn’t grow up rich. We went to Panama City for family vacations because my dad knew a guy who rented us his condo much cheaper than what it would actually be. Having this amount of money now at such a young age is insane when you think about it. I don’t “deserve” this money, but my direct actions got me it. Life isn’t fair, and luckily I’ve lucked out pretty well so far.
Yes here, crossed that at around 30 years old. Mostly good fund performance and having comp tied to pnl.
Me
Happened pretty quickly once comp got tied to performance in my old job.
Slow grind to 1m from age 23-27. 2m at 28 and then 5m at 29.
Can I PM you Mr. PM
Got it, any suggestions on getting comp tied to performance? Join a HF that allows for that I guess.
Big frustration in banking at junior level (and surely mid level) is not having that option. Not trying to be conceited but from my investing thus far and general ability think it’s something I could be successful at.
I got to the 5m number on the sell-side in fact.
Ultimately, if you can show that you can make money for the bank, they will give you the responsibility to do so and pay you when you do generate the money (not anywhere near as well as a HF though). I was a trader though and you can get responsibility much earlier in that role if you outperform. I have never been on the private-side but I don't think it is possible to get to this stage until you're more senior, so that leaves HFs as the only option to accelerate your earnings in your 20s.
What is it now
.
It's not about the money, money, money ~~~
We don't need your money, money, money ~~~
We just wanna make the world ~~ dance ~~~
Forget about the price ~~ tag ~~~
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The best part is I can say whatever number and role I want here and some idiot intern will believe me
I'm hitting 1Bn (or as they say, a "yard") in my early 30s. Hope to hit 1Trn by my 40s and maybe can just compound afterwards.
What do you think was the best way to achieve that- IB or ER? Also would you take a SM over a MMHF offer? I was thinking I could do baupost after undergrad and then transfer to point 72’s experienced academy. I want to make a yard as well, maybe open up a HF/PE/VC but not sure which yet!
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