How much is enough?
Which outcome would you rather have? Please humor me and help me to figure out what really makes sense for me.
1. Stable job in a LCOL city, running the family business and taking 1M personal income. You have control of your schedule, golf when you want, and spend as much time as you want with your family.
2. You are in the PE world in a LCOL city, trying to build a roll-up vehicle in a specific niche. You are taking 250-500k personal earnings but have a chance at a 50M outcome if the platform scales and exits. Your lifestyle is hectic, you have less free time, but you are building something that is yours. While you are taking significant risk, you have a shot at lottery ticket upside.
3. You go the NYC PE route, you manage to make partner and are pulling 4-5M cash a year with massive carry checks coming in (let's assume it actually pays out). You are absolutely grinding and rarely have time for your family or kids.
Anyone that doesn't say Option 1 is an actual moron.
Chill life AND wealth… easy answer
literally has everything you could possibly need. nyc or sf is fun for a bit, but i can’t lie having some land is elite.
Is your deal flow/workflow this slow where you are playing fantasy during your downtime? Jesus, some people should be institutionalized.
Just wanted to get perspectives from people that are older to see if what I am striving for is worth it or if I should work in my family business.
The fact that Option 1 is actually something you have access to and you’re considering NOT doing it in favor of some bullshit hardo fantasy is a slap to the face of all us morons that got into this field because they came from nothing and needed to make money. Jesus Christ I hate this forum.
Are you presenting options you actually have available to you? If so, Option 1 is a no brainer unless you're incredibly ambitious in the business world and have no other interests outside of work. I think for most people Option 1 would be a salary significantly lower, so weighing these choices is more difficult due to more trade offs.
Yes these options are available to me. Really trying to weigh options 1 and 2 moreso. I like the idea of building a rollup but feel like I am underestimating the difficulty. I am also not overly ambitious.
Really just wanted to get people’s thoughts on what truly is enough because I have kind of been desensitized due to being around highly successful people in college and growing up.
Is the family business something you're interested in taking over?
Yea option 1 sounds good
That said if my family was horrible option 2/3 also seem like good options 🤣
Can you combine #1-2? You don't need to treat the family business as a lifestyle business. Run it with an eye towards really scaling - even if the focus is more organic. If you do it well with the goal to monetize (even partially) in the next ~10 years, that's where the biggest payout will come of the options you listed.
This is the answer
The happiest people in America are doing some form of #1
I’m on option 3 right now but am actively trying to get to option 1 lol
Option 1 is the true ideal IMO. But for some of us sick fucks "enough" isn't a term we're very comfortable with. There's always some black swan event hanging out in the back of your mind that makes you want more so you can feel confident facing any situation no matter how unlikely it may be.
I've done all three:
So if I had to do it all over again? I would take option 3, but be a partner in LMM PE or start an SBIC down the line. I love investing and growing small business, but hate operating.
If you're more technical would suggest going down the AI Route. Infinite money to be made with the right VC play. Have classmates from my Ivy who are worth couple hundred million/billion on paper. This was the highest risk/highest ROI path.
When you say the AI route, what do you mean exactly?
I am much more social then technical, but want to find a path where I can lean into this.
1 is the best option hands down
In theory one but I’m too international and like walkable cities too much for 1 in the us sadly
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