How to stay motivated during Covid? (warning first world problems)

Hi all,

Long time lurker first time poster here. Firstly, please be gentle - I realize this will sound like a first-world problem rant, and I know there are people right now in much, much worse situations than myself. But I know you guys are all very wise so just wanted to come here for some advice - to see if any of you were experiencing this right now, and how to stay motivated/driven?

I am an associate at a mid-size PE firm. Things are very good for me right now compared to most people currently - last year earned $250k, own my own nice apartment (with a big mortgage), have a nice car and used to have $100k savings in the bank. My performance reviews have been excellent and I was looking forward to steady comp increases in the years to come. I am 30 years old (started in the finance game relatively late), not married but living with long-term gf (rocky relationship that is a whole other story).

Now for the bad - since Covid, I have lost around half my savings. Most of my money was in index funds however also decided to put some money into leveraged funds at the end of last year to boost returns - bad idea I know. Now I know $50k in the bank is still far better than most, but it's somewhat depressing to have lost that much. I also should have saved more during my time in finance (I'm a spender not a saver) and this loss just drives it home.
More importantly, while I'm still employed (thankfully) our portfolio companies whilst not in the toilet are in for a very rocky year or two ahead. At first I thought this would be a rapid V-shape recovery, but it certainly doesn't seem that way. So next year's bonus will be keeping my job most likely.
Also the isolation being stuck at home doesn't help (albeit with my gf) - I'm going for runs and exercising and chatting to my friends on the phone when I can, but that's not the same as getting out and doing things regularly.

So with all this, whilst I'm thankfully not anxious about losing my job or have money worries, recently I've noticed a kind of depression has come down on me - as it becomes clearer we will feel the effects of this over the long-term. We are still busy as ever at work but spend most of the time now managing portfolio companies and/or working on fanciful funding projects to somehow help boost returns (which will never become a reality in this market). So at work I've found I'm just really going through the motions and doing the bare minimum for people not to notice I'm slacking - as none of the projects/deals I'm working on right now will amount to anything anyway in this environment.

My question to you guys is - are any of you guys out there in IB/PE going through this right now, and what are your tips to stay motivated/positive at work? I've done the usual stuff like go running once a day etc and it hasn't really helped. I guess also I wasn't in finance during 2008 so haven't experienced a situation like this before.

Thanks in advance!

 
Most Helpful

first, shameless plug for my thread - https://www.wallstreetoasis.com/forums/how-im-navigating-the-coronaviru…

there's no shame in asking how to deal with first world problems. the dickish thing would be to be unaware or insensitive to others who are worse off, I didn't get any of that from you, so take your tail out from between your legs bro.

not in IB but I've seen meaningful declines in my income and assets as a result of this, but I can't say for sure who has it "worse" here. you've started running and are talking to friends, that's great! better than most. do you find these things give you joy? or do they feel like a chore? I know, the first 1-2 miles of any run is a chore, but you know what I'm saying.

you also mentioned you're doing the bare minimum at work because you don't think it will have a meaningful impact on returns, I'd agree with that, there's little that can be done at the moment for existing investments, this is a better time to be hunting in my opinion. you also mentioned you're focusing on your paper losses in leveraged funds.

do you notice a theme here? you're putting the things inside your control (relationship, exercise) as an afterthought and dedicating all of your focus on things that are outside of your control (the market, workload, being "stuck" at home). I don't know what your VP/MD demands are, but I would continue to do what you need to do at work but switch your focus more on the non-work stuff. when is the last time you challenged yourself? it's hard to stay depressed if you have a goal you're trying to achieve. when's the last time you and your gf communicated in a healthy way?

I don't know what's going on in your relationship, but I imagine that is like trying to swim across the hudson with a parachute on your back. sure you're making progress, but it's weighing you down. if you don't think it's too little too late, I'd use this time to increase your communication with your gf, be humble, be vulnerable. tell her you're struggling mentally right now and that you care about her and you want her advice. even if her advice is dogshit, this is disarming to people and could help your relationship.

TLDR - I know I've said it before, but it's applicable as hell - focus on what you can control/influence, and surrender the rest

 

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