I am 23 and work in commercial real estate finance at a big bank in NYC (9-6ish job), and have been an avid poker player (gave me some $$). I put all of my poker money ($120kish) into bitcoin at around $2.5k/3k per coin and sold at around $17/18k in late December. I've invested in smaller cryptos in early 2018 and sold $100-200k worth before the big drop. After paying the massive tax bill, I suddenly have a decent amount of wealth for a 23-year-old.
How would you guys approach managing about $750k in wealth in the current market cycle? I want to take some risk, as is my personality, but slow growth is also of interest. I know investing in market is good strategy for long term but market valuations so high (concerning, but I know market timing is kind of dumb). I am also trying to learn more about investing in multifamily properties and am possibly going to partner with a 29-year-old VP on my floor and begin doing that.
Would you alter career plans? I was planning to try to break into RE PE as I near the 2 year mark at the bank (which is quickly coming this July) but have lost some motivation.
I enjoy what I do and who I work with and the work/life balance allows me free time and vacation time to pursue my big passion (poker). I am a very strong player and really enjoy studying it/playing and have actually thought of quitting job to do that too but fear the resume gap later in life. I also like the stability of working and playing poker on weekends/vacation/after work and fear if in a number of years I want to get married, many females will look very unkindly towards a 'poker player.'
As a result, part of me wants to stay at the bank and enjoy the freedom and focus on building wealth (with the free time and capital I have). However, I am slightly concerned with the poor exit opportunities the longer I stay at the bank (fyi in my group I work on underwriting large commercial real estate loans and monitoring outstanding loans). I also don't get paid great but maybe I'm dumb, but I don't care too much right now about that. I like the freedom and am focusing on using my added free time resulting from working at the bank to build wealth and enjoy my poker passion..... but I am not sure if I am limiting myself in a really poor way career wise and regret it later.
Please, any input on whatever I have said, would be helpful. I feel like I am at a crossroads and am incredibly conflicted. If this sounds arrogant at all, I did not mean it to- I got SO lucky with bitcoin.