Just became a Millionaire today!…and I’m not even excited about it
Just became a millionaire today with another day of the markets ripping upwards. Not here to brag about it- just want to get thoughts from folks…
I dont feel a thing! Nothing! To be clear, more money is certainly better than less, and $1mm isnt even much these days in Gotham City, but it should feel like an accomplishment no?
Age 30. Have been in banking for a little while as a post MBA assoc. I’m sure others have hit this mark even earlier if they did IB out of UG, etc.
Am typing this while waiting for comments on some BS work at 9pm on a Friday.
How do others feel when they achieve a financial goal? Is this a sign to quit? In some ways I like high finance, but if not for the money, why do we do this job?
Bro come on. It was just Thanksgiving. Be grateful. Jesus. $1MM is dope. $1MM at 30 years old is even more dope.
Yours,
A 22 y/o debt riddled analyst with a negative net worth
Thanks man! Appreciate you
Congrats, that’s huge. Would be super helpful if you can break down at a high level what you earned in each year or how that $1mm is split by investments / account. Maybe you’ll get some satisfaction from helping others with the roadmap to try and replicate this success!
Agreed. Should I put everything in DOGE? please advise thx
Put it all in $HAWK coin. It's gonna make a comeback, trust me.
Sadly, in my experience, it is just an opportunity to adjust your goals. The second a $2M home becomes attainable, a $5M home becomes desirable. The moment buying a reasonable 911 without any worry becomes reality, a turbo or a GT3 becomes just out of reach.
Keep up the grind for as long as you can, and when you do quit, make sure you’re still doing something you care about, whether or not it makes money.
1mm doesn’t mean much in today’s dollars. Especially if you live in NYC, it’s not gonna change your life one iota. And especially if that 1mm includes retirement accounts you can’t touch for years.
I think once you touch 5mm, it makes sense to make a humble brag post like this. I know you want to show off, but you’re not there yet. Sorry.
But for 1mm? Not a big deal.
5mm doesn’t mean much in today’s dollars. Especially if you live in NYC, it’s not gonna change your life one iota. And especially if that 5mm includes retirement accounts you can’t touch for years.
I think once you touch 10mm, it makes sense to make a humble brag post like this.
But for 5mm? Not a big deal.
10mm doesn’t mean much in today’s dollars. Especially if you live in NYC, it’s not gonna change your life one iota. And especially if that 10mm includes retirement accounts you can’t touch for years.
I think once you touch 25mm, it makes sense to make a humble brag post like this.
But for 10mm? Not a big deal
Millimeters?
M = 1,000
M x M = 1,000 x 1,000 = 1,000,000
Not in banking but have earned a good amount over the years. All I can say is eventually it becomes way more than about the money in order for you to make real money. Motivation is a weird thing. At first the money motivates you. But most find once they have enough to cover their lifestyle, an extra $X doesn't really matter. So in order to drive for that extra $X, you need to have real passion, determination, goals, etc. and they become the driver. The money becomes the byproduct of what you are doing and you need to be jazzed to do it.
I own a business in the AM/WM space. Wholesale and retail. I was very money motivated at your age (and younger). Was a driver. Top Producer. Made a very good living at a young age. Found doing the same thing over and over just got boring. Needed something to juice me. Took some business coaching classes and found some key interests based on what I was uniquely good at and started rebuilding my business around that. Had a blast for several years operating in the same space but looking quite different. That new lease on life brought the next level of compensation and I wasn't doing it for the money. Personal growth is key!
Probably impressive at 25 but not 30. Seven figures is the new six figures given where inflation is.
Not even a decade out of college with a mil is impressive. If left to grow and supplemented it will be a very meaningful chunk of change.
The first mil is the hardest, absolutely true.
“Probably impressive at 25” man gtfoh, you’re so ingrained in the high finance bubble that you don’t understand the value of money
To have a million at 25 would mean you founded a startup in your late teens / early 20s, worked at a hedge fund with an outlier P&L, invested in NVIDIA two years ago, etc. To have a million by 30 means you saved and reinvested 80% of your post-tax income for 8 years.... see the difference?
If you are remotely self made then 1M at 30 is a top 1% achievement. Get the fuck outttta here with your nonsense
How many IB bonuses did it take?
you can give it to me if you don't want it.
What's your Zelle? I'll send you $100M just for fun.
Search coachty_23 on [redacted]
First I'd say congrats. Everyone is going to tell you it's not that big a deal, you should have arbitraged $1M by age 7, or you can't retire on it, blah blah blah. It's a big achievement, a lot of people will never sniff close to that money. Plus, the more you have the faster is accrues, hence more money.
I'd add, it's okay because it really just is a number that we put a lot on for some reason. If you account/wealth fell to $999,999 would you feel less? A lot of people in different fields have this, some professional sports players lose motivation when they get to the league, or people described as "market" (stock, real estate), lose interest when they hit an amount. It's the true psychos who keep going and make billions, but after a while just enjoy your life.
Cum beatae sed omnis in vero modi commodi. Rerum rerum quo qui quo et. Doloribus recusandae sapiente sit perspiciatis enim quis cum. Iusto dolores dignissimos aspernatur quo ad quo et. Sit omnis ut consequatur quia atque et. Iusto ex voluptas ea error fugit velit repudiandae.
Labore sit a perspiciatis soluta aut fuga. Eos sint culpa eum in laboriosam at blanditiis rerum. Ut eaque aut mollitia libero est nemo magnam. Iste aut natus perferendis non.
Iusto amet voluptas id dolore natus beatae. Enim excepturi ipsum pariatur similique sunt accusamus. Possimus quibusdam aliquid ut qui officiis. Soluta reprehenderit ea debitis id ut amet pariatur voluptatem. Eum est tempora est culpa explicabo. Molestias qui error voluptatibus aut voluptatem accusantium. Consectetur quia accusantium asperiores voluptatem velit perspiciatis rerum eum.
Quisquam aut possimus voluptatum. Voluptate ad eos deleniti ut quisquam. Aut aperiam eaque nam quo autem molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quis impedit perspiciatis ut. Vel reprehenderit soluta quod sed. Dolorem in et sit ducimus ut fugiat nesciunt. Asperiores reiciendis nostrum sint non officia est fugit. Ut et dolor aut consequuntur.
Voluptates quisquam ipsam eaque tempora voluptatum quam. Est fugiat quaerat vitae quis. Blanditiis eius voluptas ut. Iure sed expedita libero soluta sunt. Est dolores inventore quod voluptatem consequatur rerum rem.
Nostrum eveniet et odit perferendis distinctio. Nihil inventore iure et necessitatibus recusandae. Pariatur veritatis nihil nisi vel et eos saepe. Nostrum molestias voluptas pariatur fuga. Harum molestiae doloribus sequi modi eligendi soluta vel. Sit error nostrum voluptatem autem totam impedit mollitia. Tenetur autem quam quia molestias qui voluptatum eos est.