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Please help with 11 likes. Thank you
Chief
So I just recently passed my CPA exams and I’m now looking for new opportunities. I’m hoping to work at a big 4 firm in tax and possibly connect with anyone working there right now. Please reach out to me, I would look forward to connecting and learning more about potential opportunities. Thanks!EY PwC Deloitte KPMG
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Rising Star
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I just want to retire
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No. It’s well below my goals for personal lifetime earnings. And my wife will make more than that in the next 4-5 years.
$100M, maybe.
29, 7 total yoe
2 yrs paralegal
3 yrs IBD (“real” start of career)
Almost 2 yrs PE
Enthusiast
Yep! I'd open a Cat Cafe where I'd pull adoptable cats from shelters and let them live in my Cafe where they could mingle with guests among books and coffee and secure their forever homes!
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For context, that is $200k a year for the next 50 years. I will take that and run to retirement.
Conversation Starter
EY. No need to complicate this — no return. I am still taking and running for the hills.
Yes. Why? I’m tired and want even more freedom.
I’d travel and write instead.
Chief
I would quit my current job but still get a more flexible job with less responsibilities to have a steady stream of income for a good chunk of the year.
my job won't let me move to hawaii and chill all day
Chief
Yes. I would buy a farm and open a rescue dog sanctuary.
Rising Star
I would probably take a year break and then do something where I dont have to think about the income but still get some energy from. My goal was always to be a lecturer at a university, so would likely try to do that part-time
Chief
Too young to quit my job and retire. Current job is pretty cushy with ~20hr work weeks in the summer usually and $10mm won't let me live the lifestyle I want sustainably. It would, however, allow me to work those hours on a yacht instead of in my apt 👀 #foreverWFH
I call BS. If not, then heyyyyyyy daddddyyyyyyyyyyyyyy 😍😍😮😮🫦🫦👄💦💦💦🍆🍆🍆
In my situation, I most likely would quit. I don’t have $10M in the bank or a wife who will make that much in a few years.
But what I do have is several different interests and business ideas that could multiply that $10M exponentially. I’d enjoy pursuing those goals more than my current job. But it’s clearly all relative as some others have stated.
Would $1M be enough to quit for some of you? For others, it sounds like it would need to be $100M before you’d quit your current position. I’d ask a related question, what amount of money would be enough for you to quit your job today?
Rising Star
There’s also the old saying if you love what you do you never “work” a day in your life. Might also be a loophole. Money would give you freedom to find something you love to do so you don’t have to “work”.
My dad always says when he retires he’s not gonna just sit in his recliner, he’s gonna work it’s just gonna be what he wants to work at.
Pro
Yes
Yes, and probably focus on my toddler and health. But will take up a role more flexible after few months. The fact that I don’t have to work for money and paying bills would be so liberating, but of course it’s wishful thinking.
Work does give me a structure and identity (unfortunately like most my identity is tied in either work or my toddler), but it also binds my time in ways I don’t like. Perhaps I am in a different phase of life where finding 10 mins to myself feels luxury at times, so I would totally feel liberated at not having to work but being able to spend time on things that really matter without compromising on say childcare etc which are the main $$$ drain for us.
Yes and I would invest in business opportunities in my local area.
Absolutely no changes. I’d use the money for financial security for my loved-ones in the long term first, then and only when I feel good about that, I’d consider whether it would influence what I do in the day-to-day. I’d probably wind up taking more risks to do new things in my career once I feel good about financial security.
Yes. Maybe adjunct teaching
Chief
No. I already have more than that and still am working.
What I realized is that if I quit my job to do volunteer for a cause like help the communities or environment, I’m just giving a one-person effort and I’m not being the best at it. But if I continue to do what I’m good at, I can actually contribute a lot more for that cause with the money I’m making and it can be more than 10-person efforts across multiple places.
100%. I’d quit this job if someone gave me 100k lol
Enthusiast
I’d consider quitting my job. Let’s say you invest 80% of that 10 million to live off of, you’d only need to have a modest annual return of 2.5% to be making $200k a year, which would be favorably taxed as capital gains. Simply stated, I think I’d be able to live comfortably
Rising Star
Yes.
I won’t. At least not until I’m 45, that’s still a decade away. I’ll probably won’t work as hard to get a promotion and would continue at my level. Here’s what I’ll do with my money:
1. Put 3 Million in retirement fund at a compounding long term non redeemable GIC.
2. Put 2 Million to purchase a house and have some fun with it.
3. Put 2 Million for my son’s trust fund and set milestones for the withdrawal- College fees, some at graduation, some at 25, rest when we pass
4. Put 2 Million for investment through a fund manager
5. Put 1 Million for leisure but to be released over the period of 5 years after the next. So nothing for the first two years. The idea is to delay and let it settle in.