Why so frugal?

Pops brags about how much he makes. Begs me to come work for him after college(Still in high school). He's made 1.9 mil after taxes(We are close to wealthy compared to alll you wall street guys).He makes upwards of 1 mil a year when he isn't spending so much on his houses(instead of sports cars he likes building houses wtf?). But he is a cheappppp ass holy. Wont spend money on shit shops in walmart all that bad stuff (Not like its bad we get groceries from there).We do have mansions and stuff so I guess aside from homes we own hes cheap on everything else. A chinese suv is our primary car in our resident country.But down to the question I want to be in IB. What do you guys think considering my first year i would be making high 6 to low 7 figures. PLus he stop expanding the family buisness a while ago. Its at a stage where he literally puts no work into it just manage it thats all like day to day operations and stuff. He overseas the manager. With proper guidance and mindset prjocetions show i could be earnin 5,000,000 a year at 30 what should i do be helpful . I really enjoy stocks and be entrepenur . I need guidance guys

 

As an analyst in IB you will have to whip up many paragraphs in 5min or less and they will be expected to be perfect. Time as an excuse does not exist in IB. By even thinking about IB in HS you are already ahead of most people and use that to network through college for an internship - one of the easier ways to WS. Most BB try to hire 75% or more out of the internship class. As you get older and start forming a realistic view of money you will ultimately figure out that high 6s - low 7s is a no brainer out of college.

 
Best Response

SON,

You need to get off of this forum and go do your English homework. Don't you have finals?

When you are earning the money, you can buy a nicer car than I drive, like a 2-year-used Ford Focus, or even more ridiculous, a European luxury car. You can also shop at Target rather than Wal-Mart when it is your money that you are spending (although it will make me worry that you are a metrosexual). Until then, we are spending MY money and I get to decide how frugal to be.

My frugality got us through the 2007-2009 recession.

My frugality is what keeps a roof over your head.

My frugality is how we got to be so rich.

When you are working this summer for minimum wage (I have told you I'm making you get a summer job at a pool or a McDonald's a gazillion times, haven't I?), you will begin to understand the value of a dollar.

So stop complaining and get back to studying. :-)

Love,

DAD

 

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