When do you want to retire and what would retirement look like for you? Net worth expectations at retirement?
Honestly I'd probably like to continue working at my day job until 50 or so, but after that is fair game to quit (maybe not if I'm a PM), maybe become a professor with part time hours...and just let the wealth I've accumulated up to that point compound. I'm also fortunate that I'll be inheriting a decent sum of money from my parents (although that is 2-3 decades away - I hope as I'd much, much rather have them around for a long time vs. getting more money) so all that needs to be done there is letting it compound as well. All said my hope is to have $30ml by age 60, which inflation adjusted at 2% assumption is ~$15ml in 2020 terms. $40ml is my blue sky target but I'd be happy with the $30ml and I see reasonable path to getting there (not to say it's easy - it's not - but it is doable).
Never plan to stop working entirely as after 2 months of doing nothing I'm sure that would get old real fast but certainly will not work FT hours after 60 for sure. A flex sched where I work maybe 20hrs per week with massive breaks (getting summer off, month off in winter, etc.) would probably be ideal blend of staying busy & relaxing. Think a university professor in a top 20 undergrad / MBA business school would fit those needs nicely; would be cool to share my expertise with younger folks & do more mentorship. I definitely don't want to do something tethered to a desk either post-60, some desk work is ok but not for all the hours like my current research role. Would want to spend my non-work time reading, traveling the world, playing golf, etc although there are many more things I will probably need to fill my time sufficiently. Hopefully have a long marriage by then with a few kids and maybe even grandkids to spend time with. How about rest of you guys?
paywall
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I'm stupid. That was for a separate tab I had open for a post with an article. Hours really taking a toll on me lol
Ah no worries. The IB life is brutal
Hoping to leave my day job by 40-60, if I leave at 40, it's to go full time into syndication, if it's at 60, I will just be working my own portfolio.
I'm less interested in retirement then I am about flexibility. I want to have enough money that if I don't feel like doing shit for a week and lay on the beach instead, I'm not going to do shit for a week and lay on the beach instead. Some sort of arrangement where I come to the office 1-2 times a week, for 6 or so hours at a time, and then I'm checking emails on my phone or iPad sporadically the rest of the week would be ideal.
I never want to fully disengage. I'm a firm believer in needing to keep your mind active and I've watched all of my grandparents retire and then soon go back to work doing something just due to sheer boredom. That said, I want to be independent enough to never have to be somewhere or do something, at someone else's command, if I don't want to.
Absolutely agree but what kind of arrangement / career lets you only come in 1-2 times a week? Only think I could think of was being a part-time professor, being a partner at a firm might also work but most partners I know have to work 5 days a week in asset management at least
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