Can IB set me up for longterm wealth to raise a family?
Before you read this, please don't shit on me for this. I know hours suck, and WLB sucks, but I have nothing, nor do I have a trust fund waiting for me. At the end of the day, I owe this forum many thanks for all its assistance in navigating through recruiting and college without family. Alcoholics and drug addicts, unfortunately, don't have much advice for me. I will be interning at an IB next year (GS, JPM, MS) and am curious if this career path can enable me to raise a family and give them what I never had; a roof above their head, a car to take them places, Christmas presents, vacations, love, a mentor, a teacher. I have been very fortunate to go to college but have had to take out many loans and, ultimately, live in my car at many points during my education. Having landed an internship, I'm curious about what I need to do once I start my professional career to give my future family a great life. If anyone has any pointers, it would be helpful. What percent of my earnings should I be saving? What to look for when apartment hunting? How to improve hours to start a family eventually? Really anything that will prepare me to utilize my future career to set up wealth for my family. Thanks
Of course - IB and PE both pay incredibly well, most people exit IB as soon as they are able (aka immediately to PE or other lower-hour opportunities) given the hours. I'd encourage you to find something you enjoy and that is sustainable when thinking about exits. It sounds like a Lamborghini is not your priority so perhaps you spend 2-5 years in IB/PE and then move to corp dev or a lower hour job for more time with your family.
There are a lot of threads on here with detailed advice around savings, apartment budgets, etc so I'd encourage you to do a search as many of these have very long, helpful posts
First step: take your meds every day
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