{ "media_type": "text", "post_content": "Consultants of Fishbowl, I'm 31 and have ~$2m.\n\nNo kids, student loans, etc...\n\nI'm also getting CTL'd.\n\nIf you were in my position, would you scramble to get a new position or retire early?", "post_id": "6009b34e07773b0028ec281f", "reply_count": 132, "vote_count": 9, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Consultants of Fishbowl, I'm 31 and have ~$2m.

No kids, student loans, etc...

I'm also getting CTL'd.

If you were in my position, would you scramble to get a new position or retire early?

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Why either? You don’t need to scramble to get a new position. You can afford to take time to search for an opportunity you actually want.

In terms of retiring: on paper, $2 million is a lot of money. It’s certainly enough to live how you probably live now.

But, you’re 31. Is it enough for you to indulge on things you may want in the next 60 years? What if you end up having kids? What if you want to take a big trip? Will you be able to afford all the hobbies you’ll need to take up your time while you’re not working?

I would personally keep working but be diligent about finding something you’ll actually enjoy. You can afford to sit around a bit and wait for the right opportunity.

likesmart

^great advice. You may have many more lifetime milestones ahead and they can be expensive

like

I would keep working but maybe find something you’re passionate about. Like work for non profit, or open a food truck (bad example right now), or maybe create a startup. That way you can still maybe make 40K - 60k. A lot can happen over the next 40+ years and things change. Maybe you have kids, maybe you get health issues, maybe you need to help out a family member. I would keep a steady flow of income but I would be picky on what you choose next. You have the cushion with your current role + the nest egg- now go and do what you want to do.

like
Recent IconRecent

You can’t retire on your current lifestyle for 60+ years on $2M. Find something soon.

likesmart

Also vote for ExPat or move to LCOL

I'm an associate. In case anyone's curious, the money came from living frugally while working as an engineer and using my excess income to buy bitcoins in 2015 and shares in TSLA in 2018.

likesmarthelpful

Smart dude! Here is what I would do:
Job- move to industry take a 40hr work week or may be less job;
Money - since you are working less diversify, put a million in the market through a money manager or day trade and take the rest 1 million and go do a start up idea;

like

I aspire to be you and have a similar plan. You can definitely "retire" with a solid plan. Invest in a diverse group of med-high dividend stocks. You can reasonably get $100-$140k annually in dividends. These are also taxed at a lower rate than traditional income. Then you can pick up some part time job doing something you actually enjoy or care about.

like

Dividend stocks by nature are rarely high growth.

My insights are driven by real world experience across a wide range of clients. In 20 years, if you run low on capital, you can’t just come back to consulting to make more money.

It seems clear you want to continue taking significant investment risk and hope it works out. All power to you, but it is definitely a risky retirement.

To the prior poster questioning my return assumptions - 5-7% definitely reasonable in a balanced portfolio, before taxes and inflation, which is ~3% after taxes and inflation.

I’ll say bluntly that anyone who has been investing for <10 years will have a much different perspective than anyone who has been investing through real market cycles. Artificially low interest rates and a rising tide market funded by government stimulus has given a lot of newer investors unrealistic expectations around long term portfolio security. You need to question if you really believe that current dynamics will play out for another 40-60 years.

like

OP a lot of people are telling you that you can’t retire, but this doesn’t mean that you can’t work a job that you love while not having to worry about the salary.

If I were you, I’d find a job that I love doing or one that is fulfilling.

likesmart

OP, they do much more implementation work. Projects tend to be much longer. But def more chill than any strat consulting.

When I had said fulfilling/meaningful, I was also thinking more so along the lines of hobbies/social impact/etc.

If I had 2 million dollars at your age, I’d probably go work for some sort of NGO or teach without hesitation. Or maybe even back to school to learn about astrophysics. These are things I can’t prudently take because I don’t have the funds to sustain my present lifestyle. But you do.

likesmart

You will get bored if you retire at 31. Even beyond that, you don't have quite enough to retire comfortably with; 2M where most of it is in tesla and bitcoin means it can crash quickly. And you haven't paid taxes yet. So this is risky, and could lock you into living well below your potential if your needs change (healthcare crisis, kids, etc).

Get another corporate job elsehwere, double the value of your 2M via investing, and retire at like 40. Depending on the reasons you got CTLed, you could just trade down to tier 2, big 4 or accenture to keep a solid base salary. If consulting isn't for you in general, then get a different job. Corp strat at a bank could be decent enough.

like

That’s amazing OP! Your investments paid off. I’d be a little more introspective to see if you like the job and the place you’re currently at. WLB in general and see if you can hustle a little and retire early. If not, look for a change - which means you’ll have to liquidate a few shares or BTCs to support in the interim

like

Thank you Analytics Consultant, I appreciate the perspective!

Find a new role, but maybe prioritize WLB & interest over prestige..sounds like the perfect time to take a middle management position at a smaller company in your industry of choice tbh. Coming from McK assuming you could easily secure a laid back role make close to 200 TC...

like

What were the reasons for the CTL?

$2MM is great, but it's not enough to live on for the rest of your life IMO. I would find an industry job with good WLB (aim for tech).

You could also YOLO your gains on GME for even more tendies, IDK.

like

Another heavily shorted stock with massive growth potential is SPCE (Virgin Galactic). If they succeed, they will have created a brand new industry

like

WhT does ctl mean?

like

Talk about the millionaire guy McK fired who only got six weeks when you do it.

funny

You are in an amazing position to build a life you love. Go find something you love to do without the pressure of needing a fat paycheck! I just left McK and have enough to not worry about a paycheck for a while. I was lucky enough to find a part time social enterprise job at a startup, as well as an ngo to do a short term consulting project for and life is now amazing. Great wlb, fulfilling work, no money worries. Feel free to dm if you want deets :)

like

Take time to relax and enjoy life first, then you can spend some time looking for what you really want

like

Time to diversify and protect that wealth if you haven’t already!

like

It’s a gamble, but you obviously have the risk tolerance.

Also can keep deferring the capital gains

like

I’d probably pursue a grad degree in international relations or public policy and pursue something in government or academia or at an international organization.

like

take an easy job, maybe a non profit to a cause you care about. You’ll become complacent at some point after the burnout period is over, just as all humans do. Take a year or two off and just relax before you do though.

like

Wow 2m is awesome any tips to save?

like

There's a portal where you can check to see if you're allowed to buy or sell

How did this thread get so long? Y'all should've taken my advice and bought some GME 😂

likesmart

You could buy a nice property portfolio with that.

like

If interested in investing in RE, you may want to wait until were not at record low housing stock.

like

Please don’t waste your talent working for someone do something your own may be you have $2b by 35

like

Related Posts

If anyone knows of an entry level position in the Houston area please DM me. I am a 5th attorney looking to pivot out of PI plaintiff litigation.

likefunny

I may have an opportunity for care management position for cvs. I wanted to see any feed back of the type of company it is?

like

EY Hiring!!!!!!
If you are looking for a referral in EY. Please DM. We have multiple openings.

like

TL;DR I have 2.5y of PM experience with negligible experience with metrics. Do I have a chance at finding another gig?

I’ve been at an early-stage startup for my first product role as the first PM hire. Given that we are still in a 0 to 1 phase, we aren’t measuring many metrics and I haven’t owned any. This is the direction set by the founder who has 10+ yrs of product experience; you can imagine how much involvement she has in our product. Do I have a chance at finding a new role in big tech?

like

Hi All

Multiple openings in Wipro.


#Cloud #Azure #AWS #GCP #Data

Post Photo
like
like

Hi, currently I am working as python developer and having package of 13 lpa.

YOE - 6.5 years

and I am two having two offers
1) citi group -- Bangalore -- INR 26 lpa ( fixed) -- python backend developer role.
2) rakuten - Tokyo Japan -- JPY 70 lpa ( 48 fixed+16 bonus - paid twice annually+ 4 shares) -- AI/ML engineer

Could you suggest which offer is better

like

Hello all,

I am looking for specific insight into interviewing at Square for a supply analyst role. I am not worried about interviewing so much as I am the technical assessment. Does anyone have any advice or knowledge of the interview process they can provide? I have learned excel and data analysis mostly by self instruction. I just want to be sure I am not missing anything.

like

Design researchers needed for our Boston office - we’re an innovation consultancy, offer great WLB, genuinely nice colleagues and hybrid work. Various experience levels including entry level available. DM me for a referral application link 💪

like

Hi everyone! I was wondering if someone could give me a referral for the business analyst position open in Minneapolis, Mn from McKinsey & Company. Thank you!

Are there any boutique corporate firms hiring juniors in LA?

like

I’m wondering how to look for leadership roles outside my company, when my company won’t recognize my talents. I have coached peers to their goals for years now and I’m ready to get into a support role instead of direct customer service, but this entire past year I’ve applied and gotten no after no. They tell me I did a great job interviewing and my experience is impressive, but they just had to go with another candidate. I’m tired of being overlooked, but how do you start somewhere else?

like
like

How much can i ask for support engineer 2 role in amazon current ctc-10.7 yoe-4

like
like

Hi,
Can anyone refer me for the data Analytics Engineer role at hp?

Thanks

like
like

Welcome everyone! Lets start by sharing your position, what visa you have, and for how many years.

like
like

Additional Posts in Consulting

I work for a small company where there is about 24 people. The GM was hired in April of 2021 with a salary of 120,000. It’s the new year and we are about to do evaluations, we have employees that has worked with the company for over 10 years that makes no more than $15.00 an hour. She just got an increase her salary is now $160,000 a year. And now we have no money for raises. I feel like she still could have gotten an increase and give the staff an increase.

like

Any Greenhouse SME’s present? I was tasked with diving into GH reporting and capabilities as my startup is scaling rapidly. Any suggestions on where to start? Any good videos out there? I essentially have the power to make GH what I want it to be for the recruiting team and hiring managers.

like

Does anyone know if you can update the allow posting segment qualifiers once you have posted the values through the FBDI

like

Hi guys,

Does anyone have an idea on how a general referral works in wipro.
I want to refer my friend, is there any criteria for me to refer him? Pls help

Thanks

A colleague showed me the WD Community and damn it blows Customer Connect/Oracle Docs out of the water - especially when it comes to training materials and functionality explanations. Why doesn’t Oracle proved better content??

like

Does CTS have probation period for experienced joiners?
I read somewhere that there is not probation period but employee can resign within three days without serving notice period

like

Hello Colleagues - I am a Tax Senior (M) applied for a transfer to Pune office and will be moving around Nov/Dec - no rush as such as we need to report to office by Jan.

Looking for a chilled out flatmate who is also looking for something similar. Lil about me if it matters;
Super organized, non-smoker, Beer connoisseur, console gamer-Xbox series S (Almost unbeatable Div1 in FIFA 22), a backpacker

Will find a 2 BHK fully furnished in a gated society around Kharadi-EonIT park Please drop a DM!

Thought: Should companies not give full time offers to incoming interns if that means they will be able to layoff a smaller number of workers who are qualified to do their job and not underperforming?

likehelpful

It’s so crazy that when you tell a recruiter that the timing isn’t right and to reach back out at X month, they actually do 😳

likefunny

I read an article about a school that is using simple ways to make remote learning as close as in-person as possible. One solution? Every kid gets a whiteboard/marker to use at home and work out problems. What simple solutions is your school using?

like
like

I got first strike for the master/slave post.
Reason: professionally irrelevant or spam
Meme got removed:
https://ibb.co/cgTJFk9

@reporter:
1) If there is any issue with d post kindly directly approach the post owner first.
2) Why to be in this bowl which is only 4 memes if u r only looking for professionally relevant stuffs.
This bowl is 4 corporate humour
It's not easy to bring content relevant to corporate
If someone is trying to contribute to this bowl & if u can't appreciate then atleast stop being a Karen

Post Photo
like

Anyone know if Accenture offers any banking services to their employees? I.e. preferential rates at certain banks?

Hi Fishes,

What is average salary offered for senior product manager at S&P global market intelligence? Yoe-7 relevant-5

I am being offered 26lpa which includes 15% variable component plus employer contribution to PF. So, the fixed component is just 21. How much more can I negotiate for? Have existing offer of 23l (all fixed)

Thoughts of taking a position at a small firm who practices Applicant side WC...good/bad time to take this position?

like

Any diminished ovarian reserve diagnosis success stories? Need some positivity over here! And any tips!

like

ECG got acquired?

like

I feel like I get mansplained all day long

like

Additional Posts (overall)

What is EY-Parthenon utilization target for Directors and Senior Directors? Does vacation count against utilization?

like

Thoughts on jumping to a boutique that’s more utilization driven pay (bigger bonus at end of year) with our current economy?

like