Going to inherit 8 figures: should I bother with IB

Hi, not a troll, sincerely want to hear people's thoughts on this.

I'm from a wealthy family with an 8-figure inheritance waiting for me. It's not a billion dollars, but I have simple tastes and I can easily not work for the rest of my life. Currently at an US Ivy League school. I'm wondering if I should bother trying for an IB job or just do something else entirely.

Pros: learning about how to analyze companies financially. Learning how deals are done. Could come in useful when managing my family's money next time. Networking with other ambitious people who will probably go on to be highly successful in the future.

Cons: sacrificing several years of youth that could be spent on fun. "Wasting" my Ivy League degree by not using it to get a good job. Not building any marketable skills.

I know I'm incredibly fortunate and really did nothing to deserve this, but I would love to hear about what others would do in my shoes.

Comments (89)

May 12, 2022 - 10:03am
whatsapitchbook, what's your opinion? Comment below:

kind of depends on your past. 

IB could be a nick kick in the ass to get you started on the right foot in life, but it could also be very unnecessary if you've already accomplished a lot and have always been very driven. 

STONKS
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  • VP in IB - Gen
May 12, 2022 - 10:10am

I'm in a similar spot and it depends on your long term goals- do you want to be a finance professional? Personally I want to increase my family's wealth and be successful in my own right. IB has given me that

  • Analyst 1 in IB - Cov
May 12, 2022 - 10:52am

The timing of when you get access is also imperative (i.e., if you get access to the money upon graduation from college vs. getting access when you turn 40)

May 13, 2022 - 8:40am
Username_TBU, what's your opinion? Comment below:

This is a good point. What's the communication like with the fam? Are they setting up an irrevocable trust to move it to you now, or is this more like when they pass (which could be when you're already retired!)

Other considerations:

- There are plenty of very wealthy people that go into banking. Actually looking at banking classes most folks are very privileged and either have tons of money in their own account or will inherit it themselves. The motivations vary. Some are to impress mom and dad. Some are because they're generally directionless. Some are to take over the family business (e.g. large public companies where family retains a ton of control). Personality

- Have you thought about what you want to do and what's important to you? Is striving for $10m Hampton houses important? Do you want enough to be comfortable and otherwise want to save the children? These values also change over time.

If I were you, assuming the $$ are "in the bag," I would spend some time truly reflecting on what it is you might want to do / how you want your life to look. If you're really unsure, I'd give banking a shot. You can always quit (in your position), and it does provide a lot of optionality in the corporate world. Or after a year you might just want to be a ski bum, which is perfectly alright too.

Congrats and good luck in your decision making

May 13, 2022 - 8:58am
Username_TBU, what's your opinion? Comment below:

Also you might want to involve your parents in the conversation. It is their money and not yours, and if there are strings attached (monetarily or emotionally), it might be worth discussing. If you said hey, you guys made the money and now I don't want to work hard so I'll be a ski bum, they might have an issue with it. If you said hey I've really thought about what I want to pursue, I'm so grateful for all the opportunity you gave me and that this money gives me and as part of that, I really don't want to be 50 and regret wasting my 20s in an office, I'd rather pursue a career in X so that eventually I can achieve Y, they may be much more open, appreciative and even helpful

May 12, 2022 - 11:05am
JRswede, what's your opinion? Comment below:

Depends on what drives you in life. 

What drives me is the competition, the long hours, doing something not everyone wants to do / can do. If it was only cash that drove me I'd pick something else. 

May 12, 2022 - 4:16pm
wanttobreakin111, what's your opinion? Comment below:

Jesus, fuckers like you are scary. Guess you're the exact type of person to make MD bad grind away whole life.

May 12, 2022 - 11:09am
jocko'sCFO, what's your opinion? Comment below:

Hard times make hard men

Hard men make good times

Good times make soft men

Soft men make hard times 

Controversial
  • Intern in IB - Gen
May 12, 2022 - 2:41pm

pretty sure the nazis/bolsheviks/ basically any horrible regime was born out of hard times, and those times were certainly not good. Maybe don't regurgitate Jordan Peterson?

  • Intern in IB - Gen
May 12, 2022 - 4:54pm

It's more like hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times

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May 16, 2022 - 2:30pm
SafariJoe, what's your opinion? Comment below:

capex fairy

Every time this nonsense gets regurgitated a dog dies of cancer 

😆 🤣

SafariJoe, wins again!
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May 13, 2022 - 11:46am
IncomingIBDreject, what's your opinion? Comment below:

Is it a conservative thing? Drumpfy used to post this all the time.

Array

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  • Analyst 2 in IB - Cov
May 12, 2022 - 1:09pm

I'm in the same position, doing IB then PE because I want to run my own LMM fund with my own money some day. Look at the average search fund return, and imagine washing your own cash through that three or four times over your lifetime

  • Associate 3 in IB-M&A
May 12, 2022 - 1:49pm

Do IB for the branding and then get yourself a cushy, decent-paying exit with decent WLB. If you don't want to do PE that's fine, but think it will be hard for you to get into finance if you do something "fun" for a few years - grind now for 2 years and then coast in an easy corporate job.

You might not get that money until you're 50, so unless your family is willing to support you forever IB is a nice path in the mean time. Plus, even if you have money it's hard to make friends/girlfriends if you literally don't work.

  • Associate 2 in PE - Growth
May 12, 2022 - 2:12pm

Jesus dude. There are a lot of things here. I'm just going to bullet the things that stuck out to me. For context, I also come from significant means and wouldn't have to work if I didn't want to.

  1. If you are on the fence about working hard or doing IB, don't do it. You sacrifice too much in the job to be half in. You either or in or out with the role.
  2. You don't "sacrifice your 20's" you blow up 2 years where you can't really make time for personal connections. If you did the peace corps or worked overseas for 2 years and came back you basically would also be doing this. Point being, 2 years isn't that long a time.
  3. "Not gaining marketable skills" That might be one of the dumbest things written on this website. I don't know what you think IB teaches you, but let me explain the main things you learn:
  • How to work quickly in excel, ppt, and outlook. This applies to basically every corporate job. If you aren't a doctor/ programmer, any high paying job will value speed and proficiency in the office suite.
  • How to work under pressure 
  • How to be professionally polished 
  • Finance understanding/ how to raise capital or create projections for a company-literally every single business on the planet needs someone to do this job. The beauty of finance and an IB education is that no matter the company, your skill set is useful and marketable. You could not be more wrong by asserting your skillset isn't marketable coming from IB. In fact, I would argue it is potentially the most marketable role an undergrad can get-I know many places that will hire only bankers very few that would hire only consultants. 

Finally, maybe you can just piss away the money your parents earned, but I think I would feel like a piece of shit. Does 0 part of you want to feel like you contribute or earn your keep? Instead, consider what you could do with the inheritance and learning how business works-you could buy a business and make more money while also having control of your life, you could raise a fund, the opportunities are endless. Your parents raised you poorly if this is even a question.

  • Associate 3 in IB-M&A
May 12, 2022 - 5:14pm

Agree with this post totally - but I think his "not gaining any marketable skills" was referring to if he went into something "fun" since he was talking about if he didn't get a good job

May 16, 2022 - 3:17pm
SafariJoe, what's your opinion? Comment below:

Associate 2 in PE - Growth

Jesus dude. There are a lot of things here. I'm just going to bullet the things that stuck out to me. For context, I also come from significant means and wouldn't have to work if I didn't want to.

  1. If you are on the fence about working hard or doing IB, don't do it. You sacrifice too much in the job to be half in. You either or in or out with the role.
  2. You don't "sacrifice your 20's" you blow up 2 years where you can't really make time for personal connections. If you did the peace corps or worked overseas for 2 years and came back you basically would also be doing this. Point being, 2 years isn't that long a time.
  3. "Not gaining marketable skills" That might be one of the dumbest things written on this website. I don't know what you think IB teaches you, but let me explain the main things you learn:
  • How to work quickly in excel, ppt, and outlook. This applies to basically every corporate job. If you aren't a doctor/ programmer, any high paying job will value speed and proficiency in the office suite.
  • How to work under pressure 
  • How to be professionally polished 
  • Finance understanding/ how to raise capital or create projections for a company-literally every single business on the planet needs someone to do this job. The beauty of finance and an IB education is that no matter the company, your skill set is useful and marketable. You could not be more wrong by asserting your skillset isn't marketable coming from IB. In fact, I would argue it is potentially the most marketable role an undergrad can get-I know many places that will hire only bankers very few that would hire only consultants. 

Finally, maybe you can just piss away the money your parents earned, but I think I would feel like a piece of shit. Does 0 part of you want to feel like you contribute or earn your keep? Instead, consider what you could do with the inheritance and learning how business works-you could buy a business and make more money while also having control of your life, you could raise a fund, the opportunities are endless. Your parents raised you poorly if this is even a question.

Well said and thanks for the valuable input.

SafariJoe, wins again!
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May 16, 2022 - 3:36pm
Escrownaut, what's your opinion? Comment below:

Yes but does he have to do investment banking to do this? I don't think he is suggesting he won't work, I think he is just considering other less stressful options.

  • VP in IB - Gen
May 12, 2022 - 3:31pm

If i had 8 figures lined up and I was going to inherit it no later than my 30s, I would honestly do something like go to medical school and do doctors without borders or even go into cancer research or something.  You can live an extremely nice life making 4% a year on $10mm, all while feeling good about yourself since you're helping humanity.

  • Principal in RE - Comm
May 13, 2022 - 10:04am

I'm with you. I think we'll see a lot of comments from junior folks that they should do it for the optionality, feel like you're being productive, etc. My guess is the mid-level / senior folks who have been through it will look back and say those other reasons aren't worth it, just the $$ (and if we had the $$ we wouldn't do it)

May 12, 2022 - 6:50pm
Kevin25, what's your opinion? Comment below:

nah, go enjoy life, but still be smart with money. you can spend the whole inheritance within a couple of years if you buy Lambo+Rolls Royce, luxury house in LA, and go party every night and get bottles.

  • Analyst 2 in RE - Comm
May 12, 2022 - 11:35pm

REPE, good pay and learn where/how u can invest ur families wealth with top tier in house research team and make stacks of cash passively overtime. Using leverage could grow a fat portfolio 

  • Analyst 1 in IB - Cov
May 13, 2022 - 1:00am

Similar situation, got 8 figures in college and will prob get a true inheritance of 9 figures. Still doing IB at a top BB. Kinda sucks at times but arguably more valuable because I don't do this job at all for the money so can learn to appreciate and take away all the other stuff you can get from it (discipline, basic business acumen, ablity to work hard when you dont want to etc). Want to do my own thing one day so feel like this is a good starting point while I try to figure out what I really want to do and feel like I can solve for jobs and experience that help get me there vs just going to PE for the money (which lets face it, most people do)

May 13, 2022 - 1:12am
ConfusedGuru, what's your opinion? Comment below:

First of all, you're asking this on a forum that's filled with IB people, and invariably some of those people will be "passionate" about the job and thus biased. It really comes down to whether you truly enjoy the job - and being an engineer and biased against IB myself - I felt compelled to chime in....and I just have to say you would be out of your mind to still want to pursue IB with an 8 figure inheritance. The work is pretty boring for the monkey tier workers and why in the hell would you want to work so many hours for some rich dude in a suit (probably some guy that isn't even as rich as you) if you don't have to?? Moreover, you say you have "simple tastes", so the 8 figure inheritance is more than enough to last you your entire lifetime.

Pursue what you are truly passionate about, or a job that can actually be "fun". I saw someone else suggest this, and I also agree; consulting can be a good gig. Or painting or writing a book or real estate, or teaching a gym class, idek. The world is your oyster dude. Don't limit yourself to god-forsaken IB lmao. My IB internship was one of the most boring, tiring experiences of my life and the reason I switched out to math/cs. If you have financial security, that means you have options - don't waste it.

  • Intern in IB - Cov
May 13, 2022 - 6:16am

why tf would you go into IB, you already have a shit ton of money?????

May 13, 2022 - 7:40am
coffeedrinkinghardo, what's your opinion? Comment below:

In a similar position(Not from a target school), I currently have a job with good WLB where you get great experience. I am hoping to get my MBA. I picked up Computer Science as a second major and I hope to eventually be able to create a fin tech start up or something.

I want to an exciting life where I do not feel constrained by people above me. I also want to work hard and have marketable skills. My current path will (fingers crossed) accomplish that.

May 13, 2022 - 11:48am
CarsnWatches, what's your opinion? Comment below:

Are you serious? He said 8 figures that means it could be anywhere from 10M to 99M. We don't know specifics. Either way if we assume on the low end he is "only" getting 10M, investing that at a high risk level at his age will lead to a large fortune if he doesn't even touch principal. 

May 13, 2022 - 12:30pm
Orlando Salazar, what's your opinion? Comment below:

It's definitely worth working for the first few years of your young adult life. You'll build the network and develop maturity that is hard to re-create anywhere else. Many trust fun kids take Wall Street jobs before returning to the family business. Nobody says you have to put in more than 80 hours a week. After at least 18 months you'll understand yourself better, likes and dislikes. Then and only then will you be suited to start your own business or have good perspective on how much wealth you're actually managing. You can't live a great life without a network of great people, which requires shared sufffering/experiences.

  • VP in IB - Gen
May 13, 2022 - 12:38pm

It's obvious that some of you don't come from families with money given that you think having wealth precludes you from hard work. My great grandfathers were in the oil business. Everyone else in the family has been a corporate lawyer. My sister is a doctor and I am a banker. Our family has an expectation that we all work our asses off and make our own money because there is a sense of paranoia of the family losing wealth. This idea that "you're rich, just enjoy life bro" is the reason most family fortunes don't make it past 3 generations.

May 13, 2022 - 4:06pm
chief_hoss, what's your opinion? Comment below:

It's obvious that some of you don't come from families with money given that you think having wealth precludes you from hard work. My great grandfathers were in the oil business. Everyone else in the family has been a corporate lawyer. My sister is a doctor and I am a banker. Our family has an expectation that we all work our asses off and make our own money because there is a sense of paranoia of the family losing wealth. This idea that "you're rich, just enjoy life bro" is the reason most family fortunes don't make it past 3 generations.

nothing pretentious to see here folks

  • Principal in RE - Comm
May 13, 2022 - 4:07pm

This is a bit harsh. You've obviously had a certain experience and certain perspective. Having wealth provides opportunities for younger generations to get educated and get into well paying fields. It does also provide for people who say screw it, why do I want to work for someone else, or sit in an office, or do stuff I don't care about instead of seeing my family.

Most people aren't going into law or finance for the love of the content of the job. They're doing it for other drivers - money, status symbol, being around intellectual people, participating in the "highest levels" of the economy, etc. I'm surprised you have family that keeps going into corporate law - one of the most depressing jobs I can imagine, never gets better as you get older, etc.

In terms of the money, you even admit that your family has a sense of paranoia around losing it. When you say it like that, it sounds like an overexaggerated fear (that you view it that way even). For a lot of folks who inherit 8 figures and lose it, it isn't because of not working their asses off, it's because they squandered it. If you inherit $20m and spend $300k per year, it's virtually impossible to run out of money and extremely likely you leave your heirs with more than you had. Family fortunes aren't squandered because someone questions if they should go for an 80-hour a week job / a relentless career (a valid question), they squander it by never going to school, getting involved in drugs, gambling or even just generally living beyond their means. I know your response wasn't to OP and was to the folks saying "you're rich, just enjoy life bro," but there are a lot of those "just enjoy life bro" that can do so in a financially responsible way

  • VP in IB - Gen
May 13, 2022 - 5:27pm

Fair point. Maybe I exaggerated a bit. But my family's perspective has been that growing up with such privilege makes it far easier to reach these top careers so anything less is slacking. If your family can pay full tuition for your boarding school, ivy undergrad, and law school it would be a shame for you to not take advantage of the opportunities and perform. Hell, like you mentioned single mothers working harder. I agree. There are people in far worse positions that work way harder to accomplish far less. We have accomplishments nearly handed to us on a silver platter. Not achieving would be a shame considering all the privilege we have been given

May 13, 2022 - 6:05pm
earthwalker7, what's your opinion? Comment below:

I know of a similar situation. When I was in cap intro (introducing hedge funds to LPs) I interacted often with a colleague who was in hedge fund due diligence and research for our private bank. He would deep-dive into each fund. I came to know that he was from a high net worth family, with a sizeable family office. I asked him why he was still working. He said he would always work - but he chose the roles that would help provide him with insight, access, and knowledge to further his goal of growing his own family office. His salary paled in comparison with his at-home fortune, but through his work at the private bank he got to know how to better deploy capital and got to know which products to invest in (not just which products your private banker wants to push on your for commission). He later retired from the bank and took a job as a b-school lecturer to the EMBA program, so that he could keep close to business leaders and find direct investment opportunities.  Now, you're asking if you should bother with IB specifically. It depends. I think if your goal is similar to the guy I speak of, you could look at any of a number of areas that can help you preserve and grow your family fortune. IB would be a great training ground, but so would any of a number of other roles.  One thing for sure - you can't just stay at home and do nothing. So find business things to do that make you happy.  

In fact, because of my work, I encountered a fair few HNW second-generation wealthy people.  They often worked for a living, and many started off in finance at a bank. It gave them credibility to their family and society at large, and gave them skills to later be active in the family business.

I will give you two other case studies to help you. 

1) I know another CEO that took two tech companies public and after running the second one for more than a dozen years, engineered a sale of the company to a bigger tech company.  He was in his late 50s/early 60s, and thought he could golf all day. After 2 months he was climbing the walls. He started making small activist investments into distressed private companies and turning them around. About 6 years ago he bought one tech company from the verge of bankruptcy, brought in VC, and turned it around. He's been running it as chairman/CEO since then. And because it's in renewable energy, he feels he's making a difference.

2) My younger and infinitely smarter younger brother built a unicorn tech company.  It got acquired, somewhat against his wishes (it's complicated). He is in the fortunate position of being incredibly wealthy and liquid. So he took his family on a 1 year celebratory world trip. Now he is building another tech company, is involved in politics. 

So my advice to you is this:  you have the luxury of being able to do whatever work you want. Good for you. I'm jealous. I suggest you thank your gods, but then pick something that keeps you engaged and interested. Do not simply think you can do nothing, because without mental stimulation you will go nuts. Go make something of yourself, and find a career that stimulates and inspires you. Also get smart about preserving and growing your wealth. Be super careful, learn to see the code in the matrix, and don't get bamboozled.  

May 13, 2022 - 6:47pm
iercurenc, what's your opinion? Comment below:

I'm curious to hear more about your brother if you don't mind. What did he do before he founded a unicorn tech company?

May 13, 2022 - 7:24pm
Sr2009, what's your opinion? Comment below:

You have only one life. Do what you want. I think IB is not that stressful if you don't care about money.

Having said that, 8 figure could be just $10m, which is not a lot for passive income. Or could be $20-30m which puts you at a whole different level.

I personally would invest 2-4 years in a professional job that teaches you something related to what your passion is. You'd learn something and enjoy the young professional experience, the happy hours, etc. Doesn't have to be IB.

May 13, 2022 - 7:50pm
us_ski2022, what's your opinion? Comment below:

. Honestly just do what you'd actually want to do if money wasn't an issue. If it's still banking great, go ahead to IB. You have to realize though if you don't love it you're not going to make it through 100hrs weeks  when you know you can just quit and fuck off to vail  for a month 

May 14, 2022 - 1:59am
lucky_22, what's your opinion? Comment below:

I should have added - I'm a computer science major. For me I'm weighing the benefits of going deeper into a technical specialization within computer science, versus going into a more business-focused direction with IB.

To me, it seems like when you get to the very top of the wealth tables, most of your time is spent evaluating, investing and trading various assets to grow your wealth. IB would help in thus direction.

On the other hand, if I gained a deeper understanding of computer science, I might be able to spot opportunities in technically-complex companies that others might miss. Plus, tech generally has a better WLB so I could still have fun while developing myself at the same time

May 14, 2022 - 2:00am
SacrificingAdolescentYears, what's your opinion? Comment below:

If you have 10M then diversify. 1M stocks, 2M savings, 2M real estate, 2M in your checking, 2M in a PE fund or multiple, 1M in whatever other asset. All of these will produce income in one way or another. In the mean time you should work still to keep up with yearly expenses and let your inheritance do the rest of the work in terms of income / wealth.

May 15, 2022 - 12:07am
SacrificingAdolescentYears, what's your opinion? Comment below:

I am not saying this exactly, it was an idea. It's good to have cash on hand in case there is a market downturn and also for him to spend on things he wants. It's a balance for a nice lifestyle. That was my thought process behind the allocation, it's still 60% invested. You could bump that up to 80% I would say but depends on what he wants to do. 2 million can burn in a decade if he spends 200k a year. That's more than enough time for the other assets to appreciate so he'll be fine in the long run.

  • Analyst 3+ in IB - Gen
May 14, 2022 - 9:51am
lucky_22

Hi, not a troll, sincerely want to hear people's thoughts on this.

I'm from a wealthy family with an 8-figure inheritance waiting for me. It's not a billion dollars, but I have simple tastes and I can easily not work for the rest of my life. Currently at an US Ivy League school. I'm wondering if I should bother trying for an IB job or just do something else entirely.

Pros: learning about how to analyze companies financially. Learning how deals are done. Could come in useful when managing my family's money next time. Networking with other ambitious people who will probably go on to be highly successful in the future.

Cons: sacrificing several years of youth that could be spent on fun. "Wasting" my Ivy League degree by not using it to get a good job. Not building any marketable skills.

I know I'm incredibly fortunate and really did nothing to deserve this, but I would love to hear about what others would do in my shoes.

(Ignore the title in my profile - I'm old)

As someone who is also from a wealthy (but under-the-radar) family, I would recommend you spend some time thinking about what kind of life you want. Presumably you are considering pursuing IB because you want to preserve optionality, but this can be a trap as Professor Desai at HBS wrote in a piece for a past Harvard commencement.

Or perhaps it's not so much about optionality as you simply want to be "successful" and IB is the most logical choice since it is the most accessible lucrative career path for someone of your abilities/background (e.g. doesn't require writing code, highly advanced math, etc.) Again, I would tread carefully, because many times the most obvious path to "success" can lead to failure because you get going down that path and you end up somewhere you never wanted to be in.

There are also different kinds of success, and the satisfaction gained from each can be different. Sometimes you are rewarded for things that you are not necessarily proud of, while other times you can be proud of things that you are not rewarded for.

May 14, 2022 - 1:59pm
GoLiftSomeWeightsBro, what's your opinion? Comment below:

Go run an art gallery, many hot chicks and models in that space, why work at a bank with all the other sweaty dudes 

May 14, 2022 - 3:39pm
medellin, what's your opinion? Comment below:

Do not do banking. Jesus. You will absolutely not learn how to manage a family business or 'do deals' as a junior person.

Don't waste your youth life if you come from money. I would start something on your own if you have a founder 'tick', go work for a cool non-profit, join a series A startup, stay at the university, become a DJ, whatever rocks your boat.

May 15, 2022 - 12:32am
tall_investor, what's your opinion? Comment below:

In my opinion, absolutely not.

IB will not teach you how to actually analyze companies in a way that generates longterm profit. Companies are analyzed in a way that justifies higher valuations because higher valuations = higher fees for the IB. You go tell me whether or not you think Rivian was appropriately valued when it IPOd... and look who ran that (MS and GS). Wall Street exists to dump onto bag holding retail.

You are going to inherit a tremendous sum of money and have an Ivy League degree. What have you always wanted to learn about? Pursue that further. Do that casually which is something you enjoy, while building hobbies, and spend your own time obsessively learning how to value companies. 

Perhaps your niche is real estate, maybe it's stocks, maybe you use your ivy connections to invest it in PE as your friends get jobs in that sector. Regardless, you can teach yourself how to value companies well enough. In the meantime, you can stick it in a low-fee index fund or some nice dividend stocks and live off that comfortably for the time being. As you grow more and more confident managing your own money you can invest a bigger and bigger portion of it.

Assuming at a minimum you're inheriting $10Mn, you can always leave $5Mn in an index fund/dividend stocks which would generate anywhere between $250K-$500K a year for you depending on how much you want to take out. That's assuming you decide to manage $5Mn on your own.

You are going to be making money that people going into IB/any other career aren't going to be making until they're like 30+ (and those are the superstars). Why would you waste precious years of your youth to give you access to things you really don't need? Be the investor into private equity funds and profit from people working in it. You are that guy. You are fortunate enough you don't have to do the rigmarole others have to to make money. Capitalize on that.

Just my two cents. Time is so incredibly valuable. Your prestige is in your ivy, your home in LA you can already afford, and your ability to dedicate your time to doing whatever the fuck you want, whenever the fuck you want. You have incredible connections and could fund your own startup. You're in the best position in the world. Do you want to trade that for 80+ hrs/wk for money that is crumbs compared to what you'll have shortly?

Best of luck.

quick edit: I'm not sure when you're receiving this money. I read it as if its imminent. If you are going to inherit it in 5-20 years, some unknown range, then yes, you need to do something to make you money and tide you over. I'd almost pitch it to them that money now is more valuable and them entrusting it to you will allow you to learn how to properly manage it as you get older/give you the opportunity to do what you want with your life now to build the life of your 30s/40s. If I was set to inherit >$10Mn, I'd certainly ask for a chunk now and spin it in a way that demonstrates maturity and I'll use it for good.

May 15, 2022 - 10:18am
DigitalNomad22, what's your opinion? Comment below:

If I were to inherit 7 figures, I would continue to work in investment banking, but with a company that really prioritizes work life balance and I would want 100% remote work.  I would also focus on helping others and making positive contributions to things outside of just myself and my family. 

May 15, 2022 - 4:38pm
SketchyFinanceGuru, what's your opinion? Comment below:

Spending a few years going through an investment banking program would give you a really solid base of how financial markets and transactions work. I'd suggest trying to obtain a job at some of the universal banks (e.g. bulge brackets) who are involved in financings, sell-side, and buy-side, rather than working for a place where you almost exclusively do sell-side M&A. The former is more applicable to understanding the operating and growing of a business. 

May 15, 2022 - 4:54pm
Deo et Patriae, what's your opinion? Comment below:

If I had a college age son with an 8-figure inheritance, I would them him to forget IB and go for ETA (Entrepreneurship Through Acquisition)

Google "Search Funds" and read about it (first few search hits should be from Stanford et al)

It's a path that is usually pursued by freshly minted MBAs from top schools, but I don't think it's totally unreasonable for a kid in his early 20s to have a go at it.

You will miss out on the College 2.0 / having a network of peers of a similar age in IB, but the upside is you will be doing much more interesting work and will learn much more about actually running and growing a business.

May 16, 2022 - 2:02pm
Action Jackson III, what's your opinion? Comment below:

Have you considered going into the military? Airforce, Navy, etc. somewhere you can learn technical skills and see other parts of the world etc. while building friendships. 

I was never in the service myself but a good friend of mine has been in the Coast Guard since he graduated college and he loves 60-80% of it (whenever he's not rescuing someone in a shit storm with 25 ft waves)

May 16, 2022 - 2:30pm
LamborghinisandHoneys, what's your opinion? Comment below:

Literally buy some businesses, and enjoy life. Have a private bank manage your funds. Gltyou

May 16, 2022 - 2:45pm
Extremely-Boring-Person, what's your opinion? Comment below:

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May 16, 2022 - 4:54pm
Illusive Paradigm, what's your opinion? Comment below:

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Natus rem ea quia occaecati dolor dicta. Laudantium modi ex ea consequuntur. Dolor vel quia quis. Deleniti mollitia ullam velit delectus illum.

Eaque quia sit error blanditiis ipsam qui. Magnam sint et voluptates voluptatum.

Earum voluptatem ab nulla eum recusandae quasi natus. Ullam placeat cupiditate laborum labore distinctio deleniti dicta. Non id est nesciunt qui et vero architecto. Corrupti hic nihil quo consequatur. Sequi modi tenetur enim minima iure expedita error reiciendis.

May 17, 2022 - 8:20am
artorislookingforsomeadvice, what's your opinion? Comment below:

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Dignissimos deleniti non nostrum expedita doloremque atque cupiditate. Doloremque debitis ut omnis iste molestiae. Officia accusantium sed nihil quaerat placeat est aut quasi.

Saepe fuga iusto nostrum vero et autem exercitationem. Id fugit ipsum accusantium quibusdam voluptas. Laborum et corporis dolorem molestiae. Sed et alias porro voluptas.

May 17, 2022 - 11:36am
KRMcNamee, what's your opinion? Comment below:

Iure doloremque est ut eum. Suscipit enim molestiae omnis maxime sint ut illo. Officia odio nostrum iste animi ut voluptatem. Quaerat tempora dolorem sint omnis est ut dolor vel.

Error voluptas harum veritatis tempore sunt. Illo ut voluptates minus. Atque omnis corporis rerum veritatis deserunt. Optio quas perferendis sed doloremque odio nisi laboriosam.

Ea voluptates rerum omnis minus aut. Cupiditate sequi dolorum dolor. Porro sint veniam sint quia dicta est.

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May 17, 2022 - 2:47pm
jonaskl, what's your opinion? Comment below:

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