What are all your opinions on having fun?
I'm 24 and graduated almost a year ago from school. During school I had WAY too much fun, flunked a class or two and spent way too much $$ at clubs, on expensive dates, etc.
Now I'm sort of in a mode where I tend to STAY IN on weekends studying finance as opposed to going out and spending $$. I'm studying for my CFA and trying to land a front office job @ either a BB or boutique.
My thought process is.. let the wannabe ballers spend all their money while they're making their measly 40 - 60k/yr, and work hard to move up for the next year or two. Sure, I'll got out every now and then, but none of this Thursday thru Sunday alcohol and drug fest.
Then again there are those who say they can do both.. work hard/play hard. But the point is.. is there ever a time when it's good to slow down and get some knowledge under your belt and THEN go back to the party life on the weekends?
Some input from some elders would be greatly appreciated.
20's are for learning, 30's are for earning.
Consumption later > consumption now
Honestly, you just need to find your exit number, the point where you have enough, and then go out and have fun.
Just remember though: Time is the one thing you can't get back
Good advice so far, I agree that you need to set yourself up now for fun later. Obviously it's all about balance but keep your eye on the prize.
Have time for both -- now and later.
You want to plan for the future (money now), but not live in the future (defer fun). You want to live for the present (fun now), without borrowing too much from the future (i.e. defer making money, or destroying your present health to have fun "now" which you will pay for dearly when you're older).
The thing is, you never know when your time will come. Of course, we all hope to live into old age, but that uncertainty only makes it more worthwhile to balance both - it's not either/or, but both.
''My thought process is.. let the wannabe ballers spend all their money while they're making their measly 40 - 60k/yr, and work hard to move up for the next year or to. Sure, I'll got out every now and then, but none of this Thursday thru Sunday alcohol and drug fest.''
What are you talking about? The bankers I know work crazy hard. You need to start comparing yourself to more hardcore people, like the 21 yr' olds who are in Goldman SA.
I'm not talking about people who work at Goldman Sachs.. I'm talking about the typical graduates out of non-targets (like myself) who get their above average job and ball out on the weekends, spending all their savings. Even some analysts I know making decent money tends to blow it all on the weekends.
Good advice though.. I do need to start comparing myself more to the top than the bottom.
Thanks for all the other advice.. my thought process was along the same lines (Eyes on the prize now, enjoy the prize later).
Defer as much as possible since it will grow over time but make sure you dont pass on anything today that you truly want or need to do. Define your needs plus a decent sized layer for having fun and then everything else get saved and invested to be enjoyed later in life
Alex summed it up best. Do what you must do now in order to secure your future, but treat yourself to some occasional fun in the interim so that you don't miss out on life.
Very nice username, BTW.
How about you just do what you like and stop giving a fuck what other people do?
Damn, so I take it you've never asked advice from someone who has more experience than you do
He is just referring to the fact that this is a purely personal decision. what makes one person happy might not work for the next etc
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