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McKinsey & Company Has any industry experienced candidates pivot to MBB Engagement Manager before? My roommate works at FAANG as Senior Analyst (Ops, 6+ YOE) and was approached by McKinsey & Company recruiter for an EM role. He hasn’t done consulting before. Would this be too much of a risk? His goal is to pivot to PE S&O eventually.
Does 401k count as savings?
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Rich people own assets, poor people own liabilities
Importantly it is true. There are two measures (and I suppose many more, but in regards to wealth) of 1%, income and wealth. Being 1% or wealth feels rich, whereas 1% of income hasn’t reached the tipping point of capitalism yet where your money works for you
Donate 50% of your money. You’ll feel richer.
I started giving a very little money every month. Man I feel so much better after I started doing that. It might be a dumb advice, but you start appreciating your wealth better when you often interact with people who don't have it. I give to givedirectly. Check it out.
I was making a lot less than you when I bought my place in the hood in DC at around the same age. It’s quadrupled in value in 15 years or so. If you figure out where that next up and coming neighborhood is you can get in early, live thru some crap, watch it appreciate and then at least you’ll feel like your net worth has materially changed.
What does "feel rich" mean to you? That's a super fluffy idea, and until you crystallize for yourself what that means, you will always feel this way.
This feels like a weird flex.
Agree. Making money isn't even a weird flex.
I would say instead of worrying about how rich you are in comparison to the income of others focus on living a rich life. Find what truly makes you happy, spend time with family even if that means talking on the phone if they’re far away, read or watch something that will enlighten you and give you a new perspective on life (seen lots of posts asking for suggestions on reading material), join a gym or a new exercise class or try yoga/meditation to help center you, spend time with friends and live for the moments that make you laugh so hard it hurts. Those are truly what matters in life and when we’re old, sick, and/or dying we won’t care about how much money we had or made because deep down it’s not important
Nowadays Senior consultant made 200k?!
Like some others have pointed out it’s because you equate being rich with money. We all know money doesn’t buy happiness. You’re getting caught in this rat race/ keeping up with the Jones mentality. Riches can be defined by much more than money that will actually bring you greater joy. “Rich” In a loving family, great friends, awesome jobs, etc. some people don’t have these things.
My suggestion, change your perspective and keep saving and investing.
One question: how many sources of income do you have?
Start a business on the side, start funding startups, invest in real estate
Because $200k is not really that much. I say you’re only rich when you can stop working completely and still live the style of life you want.
Please stop 🛑
You’re doing fine. Pay down your debt and find a way to contribute to your community. It’s all good.
You don’t feel rich because you aren’t making passive income. You’re working for a paycheck like every schmuck, myself included.
Weird flex but ok
1% in USA is $480,930 AGI according to recent CNBC article.
$200,000 is top 5%
I agree 200is the new 100k,
100k is not as much as it used to be with inflation, taxes, student loan debt, AND if you have kids or are taking care of parents
Is it me or are most of you on a completely different planet? Is it me or is this guy just showing off - im rich i got cash i got a good 401k but somethings missing - give me a break. And if ure serious, thought finding someone real to share your baggage with??
You’re rich by any standard. Look at US income percentiles and try to argue otherwise. Why you don’t feel rich is a question for your psychologist.
Also — stop renting and buy something so you can build equity. Pay of your student loans as soon as possible.
You don’t feel rich because you live in Taxachussetts...we all cry when we see our tax withholdings, welcome to the club my friend
Don’t live in Boston and don’t waste 80K on an MBA?