Thoughts on doing IB for exactly 6 years then retire to Thailand at 30?
I'm a sophomore at a non-target and I've basically spend the past weekend mapping out my entire life plan and need to know if I'm being completely delusional or if this is actually doable.
The goal: work in IB for exactly 6 years (2 as analyst, 2 as associate, 2 as VP), save aggressively, then retire at 30 and move to Thailand. I've done the math and if I can bank around 80% of my comp and live like a monk in NY, I should have enough to live comfortably in Chiang Mai indefinitely. We're talking like $15-20k/year cost of living there vs. what I'd be making all-in.
I know this sounds insane but hear me out - I have zero interest in the prestige or the career progression or any of that. I literally just want the money as fast as possible so I can spend my 30s and beyond doing nothing. I've visited Thailand twice, I know what I'm getting into, and honestly the idea of grinding 100hr weeks is fine if theres a hard end date. I also am hella into southeast Asian women.
My roommate thinks I'm crazy and that I'll "change my mind" once I'm actually in it, but I feel like having this exit plan might actually make the grind more bearable? Like I'm not trying to make MD or build some legacy, I just need the comp for 6 years then I'm out.
Problem is, the grid has started. It's GO time baby I'm networking, grinding on RecruiterBase BUT when I get asked about my long term career goals I can't say that "I want to retire at 30 in SE Asia" lol. But internally that's the only thing motivating me to recruit for this.
Has anyone actually done something like this? Just treated IB as a pure money extraction vehicle with a predetermined exit? Or am I gonna burn out year 3 when the reality sets in that I still have 3 more years of this?
Not crazy at all — having a clear end goal can actually help you survive the grind. Just keep in mind 6 years in IB is no joke, and your outlook might change once you’re in it. Nothing wrong with using it as a means to an end, just stay flexible.
So what will you do in Thailand? Moving abroad and doing nothing sounds great in theory, but think you'll find yourself massively disappointed after a few months....I f'ed off to Europe for six months about 5 years ago with no plan or agenda, had a great time for the first couple of months traveling, eating, partying...but by month 4 I was definitely lacking purpose, was working out a ton and learning a new language but definitely felt the need to come back and apply myself....my point being that I don't know that I would just destroy my 20s (grind super hard and save every penny) with the expectation that you'll have an amazing rest of your life screwing around in Thailand
This is only a portion of the population fyi, not everyone. I know some people that are quite happy, although this is anecdotal
I imagine if you're the type of person to gun for IB and willing to deal with the rough wlb for that long than it isn't necessarily for you and you would need a chill job at the least
So, you think making slides that nobody cares about is a better purpose than traveling, partying, and banging chicks?
If OP is thinking about Thailand he's more into banging dudes
You bring up a good point. Doing nothing and living with no purpose is absolute hell. Some of the happiest, most content, most satisfied people I know are the 60+ year olds still working jobs they love. I think those 6 years will be hell if the OP is always thinking about Thailand; always reaching, mind always elsewhere. The chase will define you, but once you achieve the goal, then what? I think that's the key thing to consider. Women, low COL and doing nothing will not bring satisfaction or a meaningful life. You don't need to go to Thailand to get those things, you don't need to grind 6 years of IB either. Really have to look deep and understand the WHY behind this desire.
Depends on the bank but a lot of banks have shifted to 2.5 - 3 years for ANL and at least 3 years for ASO. There's a chance you won't be a VP by the time 6 years roll around. Would haircut expected comp.
That said, I've seen people grind it out to their early 30s and then join a cushy corporate role. Basically as soon as you get $1mn liquid (which is possible as long as you don't have fun, don't eat out, and don't live somewhere nice) by that age.
Nearing that and conflicted what to do. Recently left banking but second guessing if I “settled” too soon.
I also am hella into southeast Asian women - doubt you will make it then with 15/20k a year. Also Chiang Mai is booming and costs are growing likely above normal inflation.
South east asian that were born women or south east asian women in general?
only convertible bond equivalent SEA women
that's a very American question to ask. in Asia they don't count trannies as women, they call them ladyboys.
another shameless recruiterbase shill
I moved here because, well, I had to leave the States, but I picked Thailand because I always had a thing for Asian girls, you know? And when I got here, oh I was like kid in a candy store. If you’ve got money, no attachments, nothing to do… I started partying, it got wild.
I was picking up girls every night, always different ones. Petite ones, chubby ones, older ones, sometimes multiple ladies at night. I was out of control, I became insatiable, and, you know, after about a thousand nights like that, you start to lose it. I started to wonder. Where am I going with this? Why do I feel this need to fuck all these women? What is desire? The form of this cute Asian girl, why does it have such a grip on me? Because she's the opposite of me? Is she gonna complete me in some way? I realized I could fuck a million women, I'd still never be satisfied. Maybe what I really want is to be one of these Asian girls.
So, one night, I took home some girl who turned out to be a ladyboy, which I’d done before, but this time, instead of fucking the ladyboy, the ladyboy fucked me, and It was kind of magical. And I got in my head, what I really wanted was to be one of these Asian girls getting fucked by me, and to feel that.
So, I put out an ad looking for a white guy my age to come over and fuck me, got a guy that looked a lot like me. Then, I put on some lingerie and perfume, made myself look like one of these girls. I thought: I look pretty hot. And then this guy came over and railed the shit out of me, then I got addicted to that. Some nights, three, four guys would come over and rail the shit out of me. Some I even had to pay, and at the same time, I’d hire an Asian girl who’d just sit there and watch the whole thing. I’d look in her eyes while some guy is fucking me, and I’d think: "I am her and I'm fucking me."
Hey, we all have our Achilles heel, man, you know? Where does it come from? Why are some of us attracted to the opposite form and some of us the same? Sex is a poetic act, it’s a metaphor; a metaphor for what? Are we are our forms? Am I a middle-aged white guy on the inside, too? Or inside, could I be an Asian girl?
I guess I was trying to fuck my way to the answer, then I realized, I gotta stop the drugs, the girls, trying to be a girl. I got into Buddhism, which is all about spirit versus form, detaching from self, getting off the never-ending carousel of lust and suffering. Being sober isn't so hard, being celibate, though, it’s… I still miss that pussy, man.
Is this some kind of copy pasta from the last white lotus season?
yes
This is doable. But you're 19 y.o. your outlook is definitely gonna change, so for now focus on getting into IB and see where it takes you.
most likely won't save enough to retire but will be able to build a good foundation for it. most likely will need to work another 5y+ in the corporate after if pushed out from VP spot. but definitely can retire by 40.
Guess it all depends what you consider enough to retire. OP talking about an annual spend of $20k (definitely fine in most of SEA) so thats only like $500k in capital which is very easy in IB in well less than 6y of working. Realistically, i think that with 10y in IB (so call it from 25 to 35 with usual title progression so to senior VP), you can save up about $2.5m realistically. Thats certainly enough for most people to retire on.
what will his average comp be over 6 years?
if it's $300k, then it's $150k after taxes, 401k, and insurance in NYC. he'll need about $100k to live on. so it's like $50k per year of savings or $300k over 6y.
$2m in savings for 4 years of being a VP/SVP sounds too much as well. it's like the total comp for 4 years. after taxes, 401k, and insurance it's $1m. with lifestyle creep, he'll be spending $150k per year, so total $600k, so savings are $400k.
after 10 years of contributions, that $700k would be $1m+ and he could retire in SEA, but keeping your job in IB for 10 years is not an easy task.
it is do-able. However, a big hurdle will be leaving IB as a VP2 or VP3 at the age of 30 to “retire”. I say that because that is when bankers start making pretty good money (TC of $600k+) yet dont have the added pressure of bringing in fees. You can coast and just be responsible for execution as a senior VP / executive director at most BBs. Would recommend milking it for a few years at the VP/D level and then going off into the sunset… and you’ll still be under 35 years old but with a much bigger bank account.
I think it’s premature to plan retirement before you’ve actually started working. You’ll need inner motivation, not a retirement fund, if you want to stick with banking for that long.
On Southeast Asia, I left finance for a “simple life” there. Six months later I was back. The grass was not greener. Costs creep, routines slip, and finding a place to belong is a lot harder than you think. Chiang Mai and other large Thai cities have gotten much more expensive in the last five years. To use your words, rents are “hella up.”
If you want out, test it with intent. Set a budget and a runway. Try a 3mo trial, not a one way ticket. Line up work you can live with before you go. Explore roles that fit your values without burning your savings, or see whether you can set up something remote that lets you keep a foot in the door and earn on the side in case it doesn't work out.
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