After reading the recent thread on how much we make in IB I thought it would be interesting to see what people spend their money on. I know that living costs and taxes alone take a lot of our yearly income away, but there is still a good chunk left to spend.
To avoid the “you first” question, I spend a good amount of money on golf when I can. Playing golf and the rare golf trip with friends are things I don’t feel guilty about splurging on. What do you splurge on?
I spend a lot on travel, so my spending is way down right now (but I’m guessing unless I loved clothing or something my spending would be down). Usually nice trips (Europe, Asia, etc with nice hotels) with lots of experiences and a focus on food. A couple times a year I also splurge on a guys trip (golf, vegas, etc).
Do you travel with your wife and kids?
Well no kids so that makes it easy. I’m getting old for guys trips but on those clearly no wife.
Almost all other trips are with wife. Sometimes with my brother who has kids, that seems much more difficult to do (which I’ll have to think about soon), I imagine at that point it’ll be 50/50 with kids.
But trips will probably change, the Aman hotels and super nice meals probably will be replaced by kid friendly resorts and chicken nuggets...Need to fit a few more of those but covid is really ruining it.
Food and flights
All by yourself? Lmao
Food, traveling, and Canada goose vests because they just started making those things in slim fit and they’re fuckin dope.
car collection
car parts
tools, power tools, garages, car storage, car insurances
electronics, gadgets
obviously no need to buy suits, ties, shoes or travel any longer
Wow dude do you like cars?
I guess I do.
Never used ride-sharing in my life.
It was a joke, considering you said cars like 50 fucking times you made it obvious, dumb shithead
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young timers, 80s - early 00s.
stuff Doug Demuro has on carsandbids, comparable to that.
E30 M3 in black
Porsche 993
etc
Awesome. My last toy was a 996 turbo S. Would be nice to have more track time...
Damn you have a 993!
Wow those are two awesome cars. How long did you have to wait to find a black E30 M3 in good shape? And how did you go about finding it?
The E30 M3 was shipped from a garage in Germany, a US GI in Ramstein purchased it when he was stationed in Germany and he then retired (in Germany) a few years back. the previous owner has a German wife and also kids and doesn't want to return to the US. He needed to sell the car quickly.
I normally use websites like bringatrailer, carsandbids, and the other big ones, but I also have a large network in Germany, Italy, Sweden and the UK (speak multiple languages as well). There is a business in bringing cars to the US, if timed correctly and there is no FMVSS compliance work required. I am a former engineer and worked in the automotive space (before I went back into finance).
If you speak multiple languages or are not against buying from abroad, the number of cars will increase significantly.
edit: the total search time for the E30 M3 was about 3 months, shipping was around 2 months including local shipping and insurances and the rest.
Dream garage right here. I’ve got an e92 m3, but looking to get an e36 m3, e46 m3, or Porsche to track
How many years in did you start your collection?
Food, travel, music festivals and parties
Travels, elite bartenders, sushi.
I don''t drink, so forgive my naivety:
What are elite bartenders? Elite bars with better bartenders or are these people you can rent?
"Elite Bartenders" are the bartenders who show the cleavage and finish the night with happy ending. You have to spend a good bit on them.
Renting bartenders to host. They bring their own cavalry (liquor collection) and seduce you with unique hops, flavors and scents that don't exist in a bar.
eliteprivatebartenders.com
Travel and food
Lol....you’re such a bore!
"Hookers, booze, and dancers but mainly hookers"
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Love that guns made the list. If I lived in a city that made it easier to hit a shooting range, then I would spent tons on some guns.
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What's your watch collection so far? What was your first piece as an analyst?
I waited a bit as an analyst and bought a Rolex datejust. Then, I grabbed a GMT batman for my everyday watch now. I tend to lean Rolex, but i'm currently looking around at an A Lange Saxonia and a Jaegar LeCoultre Master Geographic because I want a pretty dressy watch to wear as well.
For an analyst, I think (depending on how much someone wants to spend) a Breitling, Omega or lower prices Rolex is a great option.
You work in IB? Wondering how you allocate sufficient time to fitness.
I'm a VP now, so it's a lot easier at my level but I always made the time when I was younger. The pandemic also helps right now. I'm not married and I don't have kids so that helps; I also basically trade workouts for fun. I would shift some banking work to the weekends so I could work out more during the week (didn't bother me to work 8-10 hours on a Saturday as long as it gave me more workout time during the week). I'd meet up with friends at 9pm or 10pm on Friday night instead of for dinner so I could get another workout in. Don't get me wrong, I had periods of time where I was just trying to get myself in ok shape but it really comes down to what your priorities are. Lastly, I often sacrificed sleep.
Bikes (getting back into mountain biking, and full suspension bikes are not cheap)
Bike parts/accessories
Traveling/weekend trips
Snowboarding
Exact same as me, but replace snowboarding with skiing.
Same here
A lot of weed. A lot of mushrooms.
That’s about it.
Oh yeah, and the Wall Street Journal subscription because it’s important to me.
Gym, supplements, and personal trainer. Helps me physically and emotionally. The days I work out the hardest are the days I kill it at work.
I spend 70% of my post-tax income on drinking, partying, chicks and gambling. The rest ... I waste.
Rent and booze
online gambling has completely taken over a huge part of the cornell student body. Kids who saved +20k this summer have seen huge chunks of it washed away at blackjack within 5 days lmao
Isn’t the school body supposed to do something and stop this from happening?
lol that really every college especially with nba being the only interesting thing to watch right now
Dumped all my money into TSLA back in Jan. Have been holding it since. You guys can figure out the math.
THE CHILD, yep, the prince himself. Gotta roll in style. Seriously huge chunk of spending.
Rare Whiskey Collection
Old Currency. Why do I need a $5,000 and $10,000 Bill? Because I can and most people have never seen em in real life.
Fitness, music (pre covid I went to a lot of shows), food, car stuff, etc. I have spent a lot of money on bandcamp supporting artists/bands. Good finds on there.
3 planes, 2 choppers and horse
Guns, fitness, gambling, and copious amounts of Redman.
London rent, London taxes, renting cars, travel to the US and around Europe.
With a few kids and 1 income
F I gotta get out of London
Not married, no kids, girlfriend also makes low 6 figures, and yet: I feel poor in London as well. I just don't get it.
Pretty sure i used my first paycheck as an IB analyst to build a sick 2K gaming computer. then i spent the rest of my cash on onlyfans because thats the only thing that matters right now.
Anyone wanna recommend some cool OnlyFans i can just dump my cash into. Born to feel you know
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