I will inherit USD 10m, and work in IB for the prestige at the moment. Should I not just fucking leave these +100 hours and do something I really enjoy in life? What the hell am I doing here.I like the title and position, but the work as an analyst / associate can be done by a monkey. Work at top BB and all the workflow I see is just really for monkeys…At University everyone wanted to do IB. Now I am here and it's a circus…plug in a ticker and suddenly I have 50+ presentation done automatically…..jeez
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Dang bro that’s a really tough situation you’re in. If it will motivate you to work harder, I’ll take the $10 mil.
But ya just leave the spot for someone else to become rich. Find something you enjoy and master it. Then invest the money in yourself. There’s other ways to become rich.
Fuck you and congrats on the $10MM
I’d find a way to use that 10m so you never have to work again.
Obviously still work though.
You will lose your early 20's as an analyst hoping to get a bonus of 1/100th (1%) of what you will inherit (assuming the record 2020 bonuses continue). I don't know why you would still put yourself through that. I would still work though, but find a job that will bring you more happiness, fewer hours and is associated with something you are more passionate about. If you don't find something that will occupy a significant portion of your free time, you are going to turn into a bum.
The advice above is all misguided. You’re goal should be to barely touch that inheritance so that your kids can inherit $100mm. Use your family’s success at a motivating factor to work even harder.
in ~25 years there will be a post on WSO titled "Will inherit USD 100m... no Motivation"
I'll set the over/under at 10 days, frankly...
Then the posters will tell the kid to use that as motivation and to work harder. In 60 years someone will make a post "1 Bil inheritance.... no motivation"
I'd buy some rental properties with the 10M. Way better for passive income. Property values generally go up. You can even hire a prop manager or do it yourself if you want something to do during the day. can be done remotely too so you could travel and still collect passive income.
4-5% yield on that would be ~500k annually.
Irrational exuberance disagrees. According to Shiller, if you bought a house at the average price in 1895, you wouldn't recoup your initial investment until 2003 after adjusting for inflation. RE is good for receiving tenant rent, not for property appreciation.
Financial Markets, Yale University, Coursera. Good one
This works off of a completely misguided understanding of how returns work in real estate.
For example if I invest 100K into a property that costs 500K today even leaving property appreciation to the side I would recoup that 100K in equity paydown by tenant in 12.5 years completely ignoring cash flow. So this idea that it would take 98 years to recoup that money is a complete fucking joke.
This is false. You can tell that to my clients who bought properties last year at around 50M and are getting ready to sell at 70M this coming year... but when you adjust for inflation that 20M is still 20M . 2x equity multiple in one year.
Thoughts of a jaded CRE guy
This is false. You can tell that to my clients who bought properties last year at around 50M and are getting ready to sell at 70M this coming year... but when you adjust for inflation that 20M is still 20M . 2x equity multiple in one year.
Thoughts of a jaded CRE guy
Good luck finding a favorable price/rent multiple in this market...
Passive income isn't that cool when accompanied by loss of principal.
Sounds like you’re gonna lose 10mm quick
I’d work (not necessarily in) until I was 28-30 and live off the money I’d earn from my job and let my $10 million double. Then I’d get married and do what that bucket list family does and travel. With 20 million you could live a good like off of $750k a year and not eat into the principle. Would be a hell of an experience.
Leave IB. You already proved you can do it and can brag that you used to be an investment banker. Your only in your early 20's once, actually enjoy it b/c the poor fucks like me actually need to work to pay off debts and get to financial freedom. Your already there dude.
Plus, I hate all you rich fucks that go in just for the prestige but hate finance. Y'all increase the supply of workers and keep wages from rising to what they would if it was only finance nerds like me who actually like banking being in the industry.
Now go start a business or go into real estate while throwing party's on yachts with all your friends on the weekends. And enjoy it for all of us who can't do that shit.
Haha that’s actually a really valid point. Why the fuck should I take up your position if I’m only in for the prestige. I’m out, fuck this. No one should be a slave however, speak up and get the VP to shit his pants. I did it several times just being tough and it worked.
What did you say to them and what was their reaction? I am curious
just go to sleep in front of them. Inflate an entire air mattress and sleep on the ground
Assume a lot of people on this forum have ran in to situations like this during their career/schooling.curious what the “right” answer is for someone in IB who is motivated to work hard/have a good career but not necessarily willing to slave away in IB/PE. Feel like there’s a middle ground between complete bum and hardcore finance career that has a lot of sacrifices, that many ignore because of the money.
Did you feel the need to post this because someone else just posted days ago about their $40M inheritance?
I am fortune enough to not have to read all the posts here. Thanks god.
No, simple answer 😂
I am fortune man
Just goes to show the concentration of rich kids in IB. At my BB, I have never met a kid from a poor background, even the diversity hires.
fuck off
Is it that tough to hear?
hear what
with the current economic policies of the the democrats, and vote rigging they do to ensure they continue to win elections, your 10mm will likely worth about 1-2mm today due to hyper inflation. but no more mean tweets so everything is fine.
id keep your day job op
give me the money right now i have your pet tree,
I have a proposition that will keep you motivated. You send me the money. If in 5 years you haven't that much in assets, I keep the money. Deal?
10m is a lot of money. 10m also can disappear very quickly so… it’s also not a lot of money. It’s all relative really. You need a goal to work towards otherwise it’s all for naught. What do you like? What are you good at? Find a happy medium and carry on.
3 questions. 1) when do you think you will get the money 2) how much does it cost to float your current / desired lifestyle 3) have you had serious discussions with your parents about timing regarding question 1
.
As someone who develops algorithms to replace mundane tasks (not for trading algos), I would say 100+ hours is quite an accomplishment in itself
The title of being an analyst and associate, based on my own research is kind of a BS job...(I have no analyst experience in IB, this is strictly based on research and projects)... I find the whole junior analyst/senior analyst, junior PM/senior PM communication line to confirm trade success with traders laughable...
From the sidelines, it seems as though the analyst and traders do not like eachother lol. Furthermore, based on my development:
I find myself developing more "market-segmented" algos than ever before...however you can only have so many probabilities and trading opportunities.
There is nothing profound immediately on the surface, each scenario is based on common rules, to begin with. Quite frankly, there are so many channels that are left out of the equation because of the "project manager for XYZ org. knows better or senior staff want to go in this direction only"
This doesn't bother me per say, however just like with any job, you start to see where there is room for improvement, and I'm not in the position to be throwing my weight around, as I'm only paid to do what is told to me.
With that said if you really are on top of the food chain, embrace that and go start a company, there are too many older thinking models that just are meant for the future. There will be a shift in regulations I imagine, to try to tighten the opportunities for innovation to just come in publically. However that doesn't stop private opportunities, and that is where I will am shifting my focus to, private firms only.
My two cents:
My prediction for 2021 - 2022:
- Excel data entry is great until APIs take over (which they have)...The only edge will come in private knowledge
- Presentations will be automated, it will just be a matter of rule-based data scraping and reporting
- Data scientists have already been replaced by algos
- Sales will be the growing occupation in IB, and portfolios will be more targeted and diversified
- A shift of investments in companies creating a direct impact on the "longevity" of humans and the environment.
just to name a few...
sorry for the long rant...I hope it helps a little.
EDIT: many older thinking models that aren't meant for the future.
Don't you want to fit in?
Give it all to me so you can restore your motivation :D
Quit ur job and put it all in DOGE COIN.
Don't be a coward, u know this is the way.
Personally, I would put a few $m into index funds, a couple $m into crypto, buy some real estate, and then go off travelling for a year. You’ll be conservatively making 10% a year (with more upside from crypto) which is a million dollars, so basically you’re set for life.
After a long trip I would probably go to Stanford MBA learn about tech and get into VC. Or if you’re into public markets start investing with my own funds.
Don’t stay in IB.
Go to fucking work dude.
10m is not as much as it sounds to you.
Good luck in your future :)
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