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How long did you take off time from COVID?
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Leaving a job virtually is kind of anticlimactic.
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Does this Friday feel like a Monday to anyone else?
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Has anyone done the mail in test kits for Covid?
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You’re 24. I’m in my 40’s with young kids, aging parents, and trying to work around a pandemic with a hundred other problems right now.
What that means is, I have zero time or energy to deal with your feelings of inadequacy from your great job, great career, great salary, and your “tons of fulfillment.” I’m sorry your rich friend made you feel sad.
Good?
Has anyone gone back and actually reread OP’s post? The crux of the whole post was my friend in IB makes me feel inadequate because they make more money than me. That was it. That was what I was responding to. This conversation has gone so far off the rails since then that I’m not even sure what I said that everyone is so offended by 🤷🏼♂️
Enthusiast
When you’re 24, you’ll be chasing wealth or a job that can supply part of it. When you’re 34, you’ll be chasing more wealth, a honey, and the American dream. When you’re 44, you’ll be seeking that C-level position and how to get your kids out of trouble. When you’re 54, that perfect retirement, and getting your kids to talk to you. When you’re 64, you’ll be trying to keep your memory sharp and that agility you once had. When you’re 74, you’ll be trying not to pee your bed and wish you could walk the way you once had. By 84, you’ll be fighting aging/ dying, seeing friends around you pass... and the cycle continues.
Don’t live to work. Work to live. Find passion and fulfillment in things that don’t fade. Money, in and of itself, will never make you happy. When you leave behind this life, money won’t come with you. Put stock in people other than yourself, maybe the unfortunate who need your help the most, and doing good in this world, because that’s what will bring you joy.
Stop comparing yourself to others. There will always be someone more attractive, more successful, more rich, more brilliant. Stop being a rat in the rat wheel. Only compare yourself to who you used to be and make incremental gains. Do it for you and not for the guy next to you. Stop trying to impress others, life is simply too short.
Enthusiast
One of the TOP hedge funds in the world, a real market-maker, just lost 53% in a WEEK.
This is not financial freedom. I strongly suggest not comparing your “lows” to their highs.
Melvin capital is not one of the top hedge funds in the world lmao. It would also depend a lot on what the PM themself has invested in their fund or it’s just other people losing money
Some good perspective
You’re in a better situation than most people in their 30s. Relax and build your career and wealth slowly. You’re already way ahead of the game both career wise and personal life wise.
Buy some Bitcoin and keep on doing what you’re doing
What does accepting as payment have to do with speculation? Cash is speculation? What a weird statement. No one holds cash because they think it will “moon” tomorrow.
No one holds Bitcoin because they need it to transact. Or need it for any reason outside speculation (except illegal transactions, there’s a real use case there). And the day crypto becomes truly useful for transactions or another purpose (not just possible to use, which currently is still rarely the case), all the systems that accept BTC will start taking other coins.
Bitcoin cannot be be both 1) highly useful and 2) scarce.
As soon as it has a real function, it can be duplicated by coins that can also perform that function adequately. Or we can digitize any real asset if we want to “store value” like real estate or Picasso’s or anything really. Fortunately, BTC is still without a real purpose and it will continue to just be a speculative play for a long time (possibly forever). So you still have potential to get $$$ even at 50k a coin.
It will never be true you need BTC to do something. But that won’t stop it from probably 10xing before it goes away, so by all means buy some more. We’ve never so globally managed a FOMO/greater fool system, with so much incentive for people to keep proselytizing the thing, as this scheme. God knows what heights it can get to before it crashes.
I'm a little older, pretty successful, and intelligent, or so i like to think. I wouldn't compare yourself to others because it's very unhealthy to do. We do things and different rates, points in time, etc. Focus on yourself you'll be great.
Chief
Let us know when you figure this out. And share
Pro
I have a hs acquaintance who joined Google around 2001 and was a network manager when they went public. He made enough apparently to teach inner city hs for a few years to bide his time before boomeranging back to Google. I later saw him on CNN interview after attending Zuckerberg’s wedding, so he runs in those circles. Some people in the right place at the right time. You can’t compare. Be happy for them and what you have.
If you compare yourself to others on the axis of earnings, there's no winning. There will always be someone richer than you.
The only people (out of billions) that this is not true for are Elon Musk and Jeff Bezos. The former threw his entire $300m PayPal jackpot into likely to fail space launch and electric car companies when he got it. The latter quit a job as a quant to start an online book store. Given their eccentric career paths, I think it's likely that neither care as much whether other people are richer than them as you do that your friend is richer than you.
MCK, can’t love your explanation more. I also commented under OP’s post: life is more about pace your own way. Be a good and happy person.
Enthusiast
my advice, try not to compare yourself to those in different industries (despite all the coolaid to the contrary, banks and consulting arent even close to the same earning potential) and until your career cant support your life (ie having family and kids and tuitions for those kids one day) youre doing great!
This is great advice. There’s also other non monetary factors to consider as well. Bankers on average will be working a good amount more. They can make a ton, but often at the cost of being able to spend time on hobbies, relationships, etc.
If you want to work more hours every week find a side hustle that creates “passive” income. There’s nothing truly passive but you could start investing in real estate or write a blog etc.
I am curious as to what your income range is as my son is considering the same move
Fellow IB grad here who was a Starbucks barista at 24 🙋♀️
Visual Storyteller
I’m almost 24 and I’m falling behind compared to FAANG, how much should a 24 year old make on average?
Don’t covet. Worry about what others make is a distraction from all the good in your life. Maybe ask yourself if there’s something in your work life or a side hustle you could do that would bring you joy and give to others. Maybe it’s less about $$ and more about you wanting to embark on your own / try something new? But maybe it’s just a suggestion you don’t have enough which is just a reminder to be grateful for what you do have.
Comparison is the death of all joy.
Chief
Yo OP you do you and as long as you’re making it with work and life you keep going. You’re already more put together since you watch out for how you feel and adjust as you need. Try not look back and keep moving ahead.
Buy btc
Comparison is the thief of joy
I would recommend Malcom Gladwell’s “David and Goliath “ — particularly the bit where he talks about the theory of relative depravation and being a big fish in a small pond. Perspective and true self awareness matter and define your success (and wealth) in the long run.
Rising Star
“Life is like a box of chocolate, you never know what you’re gonna get”...OP, you are still very young, focus on finding joy in what you do, whether it’s PA or something else. Money is nice to have, but no matter how much you make, someone else will always make a lot more than you. Once we understand that, we will be more content and less envious of others.