Is never getting a job a good idea (pros/cons)?
I do not think I would like a job. The thought of working for someone else makes me sick. Sure, you could make millions trading, but you could easily make billions by starting your own bank or HFT firm. Why slave away doing mindless work (and don't tell me financial modeling is fun)!
To put this in perspective I'm a recent graduate, 25 years old. I've applied to a handful of companies, and although I was offered interviews, I've turned them all down. My parents wouldn't help me at all with school--I ended up having to take a bunch of time off to work 80+ hour weeks, and even then I was still working 40+ hours, struggling to keep As/Bs while doing a double major. It wasn't until I perfected stock and options trading, which allowed me to quit work forever. I've traveled the world, got in the best shape of my life, discovered my passion for theatre, and that I'm a great singer (have my own youtube channel & evenbook venues). I'm even directing something now.
This post is not me trying to brag. This post is to remind everyone that there are unique, innate, almost superhuman abilities present within everyone. We look at and try to emulate our parents, but was the reason they became a doctor for happiness or money?
Can money really make you happy? Once you have a million dollars, your marginal benefit (in terms of life's necessities) is virtually nonexistent (this would assume you know how to manage it, but you would fine with just loans). Like they say: "more money = more problems." That fancy watch, new laptop, house is just more work/clutter.
Not saying jobs are bad, but I've kind of got rid of almost all electronic influence in my life including TV, social networks, video games etc (The only thing I really use the internet for is to trade, check email, program)...
I am an astute admirer of the works of Bertrand Russel and think that reading, writing, inventing, drawing, and pushing the mind/body towards its full potential is what everyone should be doing everyday. There's not enough of that left in America, and even in less in today's youth.
This is my observation: "Do what you love and the money will follow," is almost always true. Even in there is no money, we could argue that happiness in itself is a measure of wealth. If we already know that you will never get rich working for someone else, why do we do it? Some people do it as a means to end to land a better job, some out of hopelessness/conformity, and I guess some people just enjoy corporate slavery. Why would a person, who loves investing and sports, force himself to sit in a chair for 30+ hours a week at a job? In doing so, he cuts off 6+ years of his life. If he had simply worked on investing, he would more than enough.
Just figured I'd be contrarian for once. What does everyone else think (not that it's relevant)?
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^Yes, link or it didn't happen.
This is brilliant! If only I had sought to start my own bank instead of take a job at Lehman...think of how rich I could have been?!?..?!????!!!!!!!!!! Starting a bank must be pretty easy when you're under 25, I assume?!.?!?!?!...!!!!....?????.??.?.?!.!.?
Can you teach me how to perfect trading for 10 easy payments of $499.99????!?!?!?
I did not mean to come across as a total douche bag. I just wanted your honest appraisal if for someone like me (Finance + Economics Degree) if abandoning finance is a bad idea. I might not like this or have a change of heart. Are there any jobs out there that pay well, where you can work under 30 hours and not sit at a desk all the time?
I don't want six years to go by and find what I really want to do is start a hedge fund, and not have the exp to back it up. However, investment banking seems like an all or nothing proposition. I have a friend who does that--he's worn out and tired... I could never live that way--I'm a health/exercise fanatic. I also value my freedom, but I don't want to make a terrible decision and lock every door.
Interested to hear what anyone's opinions are.
Thanks.
More power to you if you can make good money and not have to work 80hrs/week in your 20's and beyond but that's very atypical-maybe not necessarily 80 but not many people make good to great money even working 40-50 hours per week. The people that I know who have never worked much didn't care at all about money and had a passion for something like surfing or skiing/snowboarding and were and are surf/ski bums. They live what seem like cool lives but after your 20's I'd think that could get old, although that could just be me. Different strokes.
If, however, you think you may want to work at, let alone start, a hedge fund going the IB route is probably the most typical. Yes, there are other ways but I dont think any of them include working 30 hours per week in any capacity. If working 30 hours per week, making good money and it leading you to be able to start an HF in your late 20's then everyone would be a billionaire hedgie or PE guy. In my opinion starting out in IB (consulting or if you can land in an HF or PE firm, law, etc) gives you good experience and a notch on your resume that can leave open doors for many things after. If that's not your bag, then choose another path. But like I said, if you have a goal of possibly being in HF (or many other fields) day trading at the beach most likely won't get you there. If you can make good money to support your lifestyle and you'll be content in that, go for it.
And don't think the entrepreneurial route is an easier option. Aside from the failure rate of starting any sort of business without significant financial backing and industry contacts and knowledge, every entrepreneur I know works as much as a field like banking.
I don't really understand what you're looking for here. Validation from people you disagree with?
Starting a bank or hedge fund = working for other people (ie shareholders or LPs) even if your office door says president. If you want to be your own boss, you only get to play with your own capital.
well hes perfected stock and option trading so im sure if you tell investors that you can have your own hedge fund tomorrow
I've been at this game a very long time, there are plenty of ways to make money from the markets and work a full time job. Your lack of work experience will leave you destitute if your trading ever encounters a problem, because trading like that doesn't transfer anywhere. I had a longer post about this on another thread where the author was facing a similar dilemma (without the delusions of grandeur) but my advice is rarely if ever heeded on this site so I have no more sympathy for fools or the patience to pretend otherwise.
You will just open a bank or a hedge fund....and you perfected stock and option trading.......
These are the kind of threads I wish they'd just immediately remove and ban users for
can we please get the youtube channel
also you sound like a major doucher
Friend, your best bet is to get some real-life experience involving sucking the man's d for a bit and then go from there. If you can swing something entrepreneurial and have it work out, you'll be the envy of quite a few of us. Otherwise, find something that will pay the bills (corporate finance, ops, commercial banking even, etc.) working 40-50 hours a week and go from there. Use your free time to plan something out and when you're comfortable enough with your idea(s) go for it. You're the only one stopping you.
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