Background: I don't really know where to ask this, so here goes nothing. I'm lucky enough to have several sizable irrevocable trust funds and am curious about how distributions usually occur. I heard many people just get the whole lump sum amount on their 21st birthdays or 18, or 25 doesn't matter.... All together, my structure pays out around 0.5%-1% of the total amount of all trusts every year until I'm like 40. And even then I don't get total control ever... Currently Im fortunate that my parents pay for college tuition and living expenses separately but I think that informal arrangement ends once I graduate.. Theoretically, I could live off this small 0.5% but I plan (and my parents very much expect me) to have a full career.
Question: For people with similar structures, what do you for work? I have planned on going into finance for a long time, well before I knew about my trusts. I would have a decent chance (3.8+ gpa, target school, strong experience and network), but more recently people have been scaring me. Burnout, suicide, depression, poor health... Is it worth working 100 hour weeks in banking when finances are not a large concern, particularly in the long-term?
Question simplified: While I hate to use this term, what do "trust fund babies" do for work and how many of them do you actually see in finance?
edit: 0.5% is enough for 1-2 bedrooms in major US downtown, eating all meals out, several nice vacations a year.. not enough for second home (unless I saved for many years), flying business, and bottle service every weekend (but enough for a $16 negroni)