Hi all, through a mix of luck in crypto, stocks, and real estate I have an estimated net worth around ~$4m at 26. I’ve been working for about a few years now and realized there is a lot to life than just audit. I want to reach manager, but I feel like I’m wasting my youth away currently. I want to move to a big city and enjoy my life and find love at the cost of my career, but I also have elderly parents... if anyone has life or investing advice I’d appreciate it since I feel lost.

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You literally don’t need a career. Congrats!! You unlocked a new level in life

likeuplifting

Agreed - career advancement in your field will not be relevant to your continued success.
Change your thought process and find other passions so that you can benchmark your new success.

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Congrats and FU!

likefunnyuplifting
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Unless your life style is really extravagant you can live off that $4M the rest of your life if you’re smart, why waste your time in audit lol

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Yeah 27F here. 🙋‍♀️ I'm interested! 🤣

funnylike

Congrats - I’m so jealous! My net worth at 26 was probably a few thousand bucks.

If you loved audit, then it would be bad advice to tell you that you must quit. But if you don’t… and career progression is important to you… now would be a great time to pivot your career and experiment with different career paths. With your savings, your responsible spending habits, and the fact that you’re still only 26, you have the freedom to try all sorts of things. It doesn’t have to be something like trying to become a rock star or a professional competitive bungee jumper or entrepreneur. You could go into the non-profit sector, or low-paying government jobs in an area that interests you. You could try to get into the sports industry if you like sports - the entry-level jobs pay nothing but you wouldn’t need to care. If you were interested in art as a kid, you could start trying to make a career of that - whether starting to create or going for an art history degree and trying for a job at a museum. Or you could go the other way, and go get a law degree if you thought about being a lawyer. Though everyone I know who’s a lawyer would say don’t do that under any circumstances.

Maybe that’s not helpful, but I’m enjoying imagining your unlimited possibilities not just because of your early wealth, but because of your age. You’re in a fantastic spot. Congratulations and I really, deeply hope you find a way to make this a springboard for a truly fulfilling life enriched by amazing experiences and unencumbered by financially-driven anxieties.

likeupliftingsmart

You’re a wealth of good advice, Director 2, thanks for sharing. I think I need to take some time off to reevaluate what I want in life. Maybe I’ll work a bit longer, get a promotion and shoot for something else that gives me more work life balance

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Wow. Awesome. How much did you actually start with to get to 4m?

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That’s for adding that part - totally agree. If you’re relatively secure in other aspects of life, this sounds like a calculated risk people should consider taking on early in life. You have your entire life to recover if it doesn’t pan out

Congrats! This is a huge win for you! You likely don’t need to work for the rest of your life if you didn’t want to.

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1. Talk to a financial advisor.
2. I would highly recommend using that money and putting it in a dividend portfolio so that you can get a consistent ‘salary’ for the rest of your life.
3. Quit your job or get a less demanding job so you can go find love and spend time with your parents.

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If you put all that 4 million into a 4% dividend playing index fund, you will get 160000 a year. And it’ll grow. I’d heavily consider safely investing into index funds that pay dividends

likefunny

Not FDIC insured. Would put maybe 50k-100k in liquidity pools. It’s still high risk- it’s crypto. It’s the wild Wild West 

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Congrats. Diversify and decide where you want to live long term.
No sense if looking for love in a city where you don’t plan to settle down.

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OP- Look for love anywhere you want! I hear you on the big city, there can be a significant difference in the dating pool in a small town vs a big city. It’s also not uncommon for people that develop relationships in big cities, to later move to suburbs or dif state.

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I love reading stories like this. Good for you!! 👏🏻

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As a multi millionaire myself I would say money is fine if u have people to share and enjoy with. The only real asset is time that we all have. Better fall in love and take chances on what u like

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Wanna invest in my startup?!?!

funnylike

Honestly I don’t have the wealth perspective but I think I have some youth perspective. I moved home due to Covid and had some family hardships. Got a new job in nyc and had the hardest time leaving. Enjoyed the family time at home but at the end of the day happy I moved out and on. I love my parents so much but at the end of the day my dad was right, it was time for me to have my own life again. It’s so so so hard seeing your parents get older but you need to make a future for yourself. And I also agree with the comments, maybe don’t stick to audit?

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Thanks for your perspective, definitely difficult seeing parents get older

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Just want to say, awesome my dude/dudete! 🥳

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Move to Chicago so we can ball out! I'm only $3.6M behind you

likefunny

👏🏽👏🏽 congratulations on having this amazing networth at 26. Lots of great pointers here. I would say take a break and start seeing a therapist. You mentioned mental blockade and can potentially get to the root cause of it with therapy. If not, take a month or so off and look into other interesting jobs. I would recommend the book “designing your life” by Bill Burnett and Dave Evans. That should help.

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Why don’t you just travel the world!? Make your parent’s house your permanent address and live in/visit a different country each month. Of course dating would be harder in this scenario but it might be worth it. Or live in diff US states with a lot of activities (like Hawaii, Florida, Colorado) for several months to see if you like any activities in different states enough to make a career out of them. I for one would love to quit and become a wildlife photographer!

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Mine is like 20k lol 😭

What did you invest in out of curiosity?

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Which tech stocks and crypto and where is the rental real estate located?

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I am so happy for you! Go for it. Leave the job you don’t enjoy and find another job that makes you so happy even if it pays you a little. I hope everyone, no matter their situation, has learned from 2020 that life is short.

If I was in your position, I would leave and go work for a nonprofit.

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How about going back to school for something that interests you, and take it from there? Start a company, go work for another one (in a way more interesting job), etc.! Don’t be restrained by past titles or experience

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It’s not much compared to most of the posts I’ve seen in this bowl, but I finally hit $10k NW after I started working FT in August.
Everyone in this bowl has been a tremendous help in this process. I’ve never been good at saving, so this is a big milestone for me. Thank you again to everyone who gives out advice in the bowl, it is truly invaluable. Happy NYE! ❤️

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likeupliftingsmart

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