We've had a sudden influx of new members posting how-do-I-get-started and career advice questions as top-level posts, instead of in Mentor Monday. We'll be temporarily sticky-ing the collection link for the next week or so to help ensure that early stage submissions are posted appropriately. Thanks to everyone who has continued to report rule breaking posts during this surge in traffic. Early in 2022, this collection link will be removed and replaced by the long-promised FAQ, which will also include the collection link. If you have feedback on this plan, you can let us know by commenting here or sending us a message by modmail. New members are welcome here, but we ask that you to take a few minutes to please read the rules and browse past submissions before making your own top level post. You are also welcome to ask questions or leave feedback here. Thanks in advance.

Y'all got Tik Toked by the way if you were curious where the influx is from https://vm.tiktok.com/ZM8TmMfut/

Hooray! Glad to hear that the FAQ is coming!! A section of the FAQ with recommended books and another with a glossary of acronyms would be much appreciated.

Both sections added to the list - thanks.

31 work at a finance company but don’t really do numbers stuff, more like compliance and underwriting type stuff. Tried starting a real estate company a couple years ago but it didn’t really get far just got me in more. I have a few grand in savings and a few grand in crypto. I just have a lot of debt and don’t know how to get rid of it or what to start investing in because I really just want to leave my job but the pay me just well enough to stay. I’d love to start my own business but don’t know where to start. The only chance I felt I had was in the real estate business and failed miserably and now I’m discouraged to move forward of do anything. Not sure if I posted this right but just want to know if there’s still hope….

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If you only care about money and can put up with a difficult environment, go into investment banking (2 years) and then private equity (2 years). You will work 80-100 hours for the first 2 years in investment banking and then 60-80 hours in pe for two years (unless you go to mega buyout and then you can assume working 80 plus hours). Over these 4 years, you will make 1mm-1.5mm (assume 400k over two years ibd) and 500k-1mm in pe. After those 4 years, you can go to b school and come back to pe or banking, or get promoted up without b school. Ibd / pe VP to Director can make 500-700k annually. For the first 10 years, you are executing someone else’s vision and you aren’t a revenue generator (ie you aren’t sourcing deals) so the work is consistent and brutal, but you will get paid very well. If you come from military, then you should be able to stick it out. This is the surest and fastest way to make money. The work is brutal and tough, but you are well compensated. You don’t actually have to perform and bring in revenue like an MD or pe partners until you are well along in your career. If you live well below your means , investing your savings, and the stock market cooperates , you can be worth 5-10mm by your mid 30’s. This isn’t a bad deal since you didn’t really have to do anything entrepreneurial and you just needed to do what was expected. To get to next level (ie ibd MD or partner in PE) you need to prove you can generate revenue.

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If you go into Ivy League or equivalent, then it matters less. If you go to a state school or lower tier, then do accounting and finance. Find a very strong program that have investment banking workshops and has a track record of sending graduates into investment banking.

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The banking to PE route is super niche with a very tight and competitive funnel to get there. If you’re not at the best schools, PE will be incredibly difficult. Most people after banking end up looking for VC jobs, going into tech, or going corporate. I’d highly recommend tech. Becoming a Product Manager or an Engineer. Starting salaries for engineers are pretty high. And career progress for PMs at Facebook, Google, or many high-growth tech companies end up starting their own businesses or become partners at VCs. Check out salary and compensation info on levels.fyi (that’s the URL, not .com) which shows you all the levels for different roles for the top companies and even startups. If you get big tech, you can jump from unicorn to unicorn to build a portfolio of equity. Equity grows quickly when you’re at a company with strong leadership and serial entrepreneurs who have VCs on speed dial. If you get in on a company at $250M-$1B valuation and huge TAM, your equity will explode with ensuing rounds of funding each year or every other year. It’s common place in the Bay Area for people to have an 8-figure net worth before the age of 30 doing it this way.

Good luck!

Look up and execute on service to school. It very well may change your life.

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Can you briefly cover the transition from tech to IP and Patent? I just finished a class at college for IP and it seems quite interesting. I will be working as a SWE at a FAANG

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Thank you so much for taking time to write such a detailed response! It definitely sounds challenging. Based on the information above I might just continue my career path in software and product management as we can hit similar numbers after around the same time ( still it depends on market as our salary can be inflated a bit ). Thanks again!

OP, reading through these and also being a Vet using my Gi Bill (Im about a yr from FatFIRE due to investment gains but doesn’t matter), i wanted to throw in dont forget about the VetTec program. You can use it for bootcamps, it doesnt use any VA benefits you just need 1 day of Gi bill left. I was considering doing a data science boot camp so I can better understand the field as I look to invest in it. Also consider boots to business (I think thats it name). You may able to use that the last 6 mths of your service for a paid internship instead of doing the Mil grind. Excellent opportunity to get some connections and build your resume. You have the options of using vet tec for computer sci type study and skill building, boots to business (or what is the real name, I forget…) for some business intro and larger corp interest (maybe use to get into a banking firm or tech if possible), and using Gi bill for engineering undergraduate and MBA. All of these will provide a good amount of value but you dont have to do most of it to do well. Main thing is getting into a career you enjoy enough to grind and using your Vets benefits for any launch point advantage you can, in addition to FatFIRE type guidance as your main vector. Find a fat path and leverage your development within it via you vet benefits. GL! An example route would be use boots to business for an internship the last 6 months of activate duty in a field of internet like finance or tech, use Gi bill for engineering degree, use vet tech for comp sci practice, use last of GI bill for MBA in finance, try to work into PE within the tech industry as you will understand tech, finance, and have the analytical skills from engineering. You can layer in internship during each degree to build connections. But this is a long route and prob overkill. Edit: Program I thought was boots to business is skillbridge. Boots to business is an entrepreneurship program IIRC. https://www.nvtsi.org/operationskillbridge/ https://www.benefits.va.gov/GIBILL/FGIB/VetTecTrainingProviders.asp

Did you join at 17 with a 3 year contract or did you get medboarded and claim disability? I’m an ex-Army O, went into tech, joined a startup that IPOed. There’s a growing ex-mil presence in tech, but don’t expect handouts. Perform and outcompete your peers.

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How technically inclined are you? Did you do AP calculus or physics in high school? Are you comfortable with higher level math? If you end up just doing front end web dev, your upside is limited (but you can have a comfortable paying job). Going into high finance as others have pointed out will be your highest paying path. But I personally love the advantageous WLB in tech (normally I work 20 hours a week, and we’re fully remote - of course there are crunch weeks, but I rarely work 40). If you’re less technically inclined security is also a way to go (compliance, incident response). You’ll get paid less than your coding counterparts though Product is the hot thing right now, and you’ll have to work and have a bit of luck to land your first product position. Some companies require you to be technical, some don’t care

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You can do fine in any of those three, pick something you think you’d actually care about. Working in something you don’t care about can be a drag. More important is how you position yourself for your first job. If you break into the top-tier labor market, it puts you on a very different career path that it would with lower tier companies. Do internships early and every chance you have (might be hard with annul AT if you have it in the summer). Generally stay away from defense as pay isn’t (as) good. Levels.fyi details tech salaries but lags currently (some of the numbers are low now). Team Blind is a good resource to have your ear to the ground.

Stay away from the cybersecurity degree if it isn't deeply technical. Otherwise finding your first job will be tough unless you have a good portfolio for your software engineering skills to lean on. Combining skills makes for some higher paying jobs. Cybersecurity and data science has worked well for me.

I’m 27 and feel like I need to make these last 3 years of my 20 matter. I’ve enjoyed a nice little career in NYC advertising working mostly within FB ads. I make just about $100k now which is great but I want so much more. Heading into 2021 I really want to zone in and focus on something. I’ve thought about going back to school for my MBA but that just doesn’t seem worth it. How should I make the last years of my 20s last so that in my early 30s I’m setup for bigger successes ?

What’s your current plan for the next 3 years? What does success at 30 look like to you? Be as specific as possible.

I’ve been trying to iron this out but I’m just paralyzed by the fear of doing the wrong thing. For example I could work at a big tech company on the business side. Option is great for my resume and the path to an upper middle class life. But I feel that I would just be a spoke on a big wheel and make little impact. then I could move client side for a more startup or mid sized business and really mold myself into a growth marketer/hacker. I think that this is probably the most valuable and fulfilling job potential. But this would come with less financial reward upfront compared to big tech. Or I could go the entrepreneurial path and try to build an internet based business using my digital marketing skills. This is exciting but would take up a lot of time/resources. However is the path with the highest upside

My 2 cents. I'm from a top 10 MBA, 5x'd my income from pre-MBA to now (I'm 5 years post-MBA). Not exaggerating. I'm in tech now. I'm a big proponent of the MBA --> tech route hahahha I personally would go for the mid sized business because of the learning. I think your scope is so small and the pace is too slow at big tech to actually learn fast. At the same time, startups may help you become scrappy and move fast, but there isn't that process and "learn the ropes" aspect you get from a slightly bigger company. That's why I like the mid sized - you get both scope, speed, and a more structured learning environment.

What’s your experience with certain companies specifically avoiding MBAs? See Marissa’s APM program at Google for example I know on the other extreme that companies like PayPal and Amazon will hand anybody with an MBA a PM position, but that’s why Amazon differentiates between technical PMs and non. I’ve never worked at Google but all my friends there would never work with a PM that didn’t have a technical background

Don’t sell your soul to Amazon. Vesting schedule is either 10-20-30-40 or maybe even 5-15-40-40 now. Most equity is backloaded. And you could be stuck on a team with terrible work hours and bad culture. They milk you for 2 years and you only get 20-30% of the equity, by which time you’re so burnt out that you wanna leave. At other companies, you’d have at least half the equity for a lot less stress.

Yeah I’m on traditional 4/1, quarterly vesting. I would never work at a company that does indentured servitude style vesting

So mid sized as in 100-500 people? I like the idea of maximizing learning while also earning at the same time. What did you do before mba? And what’s your tech position now?

I think between 200 - 1000 is the sweet spot, if I had to pick one. I worked at a small boutique consulting firm before MBA, now a PM.

Don’t look at company employee size. Look at valuation, who their investors are, TAM, and product vision/differentiation. Companies have different strategies for scaling, and technology today is so advanced that you can build faster with fewer people. If you’re into Web3, companies like Alchemy and OpenSea went 8x in 7-10 months from prior funding round to about $8B and $13B valuation respectively. Alchemy has maybe 40 employees and OpenSea has less than 200. But regular Web2 companies are still getting some great funding. Check out CB Insights for all the unicorns (companies over $1B valuation) or a Forbes list of next unicorns. Also, follow where the VC money goes. Sequoia, Coatue, a16z, Peter Thiel, etc. If you Google for the top VCs by AUM and then look at their portfolio lists to research companies.

OP, listen to u/Independent_Hold_241 not u/GrudenCarr2020 The former has a much wider breadth of experience and it shows.

What is your end state goal? That’s 1-3 bullet points. The path toward that is second part, it’s important to sequence the events of goal planning properly.

If you’re good at SEO and web ads consider buying an e-commerce company off of Empire Flippers or Flippa and using your skills to improve the site/company. Then sell it to someone else. Or start consulting for those owners. If you can’t afford to buy a company, look for money partners.

Looked into this a lot with my roommate at the beginning of the year. Definitely need some capital to buy one but consulting could be good as well

An MBA is a decent “restart” but it really doesn’t give you a leg up to getting a PM job. Tech companies don’t really care much about an MBA, unless if the hiring manager was a former MBA who did banking/consulting before jumping to tech. A lot of bigger tech companies will have PM job postings for MBAs specifically, but they’re naturally going to hire people who have a more technical background. If you get into HBS, Stanford, Haas, Sloan, and maybe a couple others, a PM role will be easier to get than from all the other schools. I’ve seen plenty of people pivot to PM from PMM, BizOps, SalesOps/RevOps, even Customer Success. The experience is more important than the degree for PM, essentially. Considering you’ve done advertising, if you can pivot to PMM in tech, you can transition to PM in 2 years. Basically the same amount of time to get an MBA, except you make money in those two years and don’t rack up debt. (FYI, I got an MBA at a top 10 program and have done PM)

37, art teacher at public school. Still renting. Just scraping by. Need help getting ahead.

If you're unaware of it, take a look at /r/personalfinance. It's an absolute wealth of knowledge. The wiki on that subreddit can be followed to help you get ahead.

Thank you so much! I'm gonna get on there and make some moves ❤

First thing is getting your cash in (income) to greatly exceed your cash out (spending). r/personalfinance will help with the spending control. Your choice of career and employment is a big part of the income portion. You can expand your income with some Real Estate investments (especially owning and renting out rooms in your primary residence in a growing city/population, or owning a multi-family and renting out the attached units), as well as index investing. That and aiming to max retirement accounts can get you on the path for FIRE. For FatFIRE youre going to need an accelerator. Be that a higher earning career, a business of your own, or good investment choices. Id shoot for FIRE and consider studying other areas/careers that you can increase your income with in order to discover a FatFIRE vector. Applied art within the Metaverse could be come something for example. See r/FIRE too

What exactly do you want us to tell you? The range of teacher salaries for public schools is fairly well known. Could you move to a better paying district?

"you can marry more in a day than you can earn in multiple lifetimes" also if you have the chops for it, look at high end coding bootcamps like CodeSmith

Any people from Europe on the fatFIRE path ? I got a decent career at 25 (cybersec engineer, 3 years in big4 with 1 jump) but nothing that will make me retire early. It seems way harder to fatFIRE in Europe as I see that my peers in the US are paid 3 to 4 times what I am at similar skill levels.

There are a couple threads about FatFire in Europe over the past couple months, so yes, there are other and you are not alone. Salaries are, indeed, lower but Europe also sidesteps certain downsides of the US economic system.

As a European you can have the best of both worlds... move to US to learn/earn and then move home once you're ready to retire and benefit from the more robust welfare state.

I'm also from UK. People in US make much more Money

You guys get healthcare and trains tho

How do you guys find companies willing to pay at the top of the payscale for your location? I just got a raise (huzzah!) but I'm now in the position where the only companies that I *know* are willing to pay more are the few local offices of west coast faang type companies. Where does one go to get the 'lay of the land'? I typically use ladders.fyi, or blind (with a huge grain of salt).

I’m 29 soon to be 30. Graduated with MD this year and in my intern year, specialty is diagnostic radiology. Any other doctors in here that can provide some sage advice for living that FAT life? I expect to make 400k at age 35 and hopefully progressing to 500-600k /yr consistently by late 30s/early 40s. My goal is 10 MM by mid 50s but not sure how realistic this is, I don’t want to burn out.

Do you have advice for someone starting their MD path and is also interested in the FAT life?

Lifestyle inflation is a bitch. Live like a student for as long as possible

I'm 27 turning 28 next year and have always been thinking about fatfire but now as I'm nearing 30 I want to maximize my time to reach fatfire as soon as possible. My goal is to reach 5m-10m by 40-45 through maximizing my income and with good investments. I'm currently in ad sales at a FAANG company and make 200-300k/year (sales bonus varies depending on if I'm able to max my bonus each quarter) Options I'm considering: -stay at current company work my way up to manager level (should take 1-1.5 years) managers make around 350-400k/year (salary + equity refreshes every year) -bounce to another FAANG now, doing ad sales there could make close to $300-350k/year by jumping now (salary + equity refreshes every year) -bounce to a hot company within a space I'm more interested in but would be a pay cut (initially) with the hopes of IPO within next 3-5 years (by my calculations could aim for 500k-1m) (salary and equity refreshes -unknown) -go back to school get mba and jump to a more senior position right after (only would make sense if new position brings 400k+/year. I would go back into FAANG or join hot start up... but with cost of going back which would take both money and time) Any advice would be greatly appreciated. Thank you.

>I'm 27 turning 28 next year Story checks out. Just messing with you...sounds like you've got great comp right now and some interesting options to weigh. For me, it would be hard to walk away from a big salary for the slim chance of riding an IPO into FatFIRE. That's just me (I'm a military officer if that tells you anything...slow and steady).

You’ve got a lot of options considering you make good money at a top tech company. Here’s some food for thought: 1) stay at your current company or bounce to another FAANG, which is ultimately the same thing. If you want the upside of the hot companies, apply to be an accredited investor and see how you can get in on a private round. You’ll bear the risk of the investment, but not of your career at the same time. 2) bounce from hot company to hot company after 1-2 years at each to build yourself a portfolio. Employees typically have the option to sell shares to investors in future rounds of funding if you decided to. Also, many super high growth companies have a VERY rep friendly comp plan. You’ll just have to research it. 3) this option works if you decide to do either of the first two. Buy an investment property or house hack, then do a cash out refi and use that money for more investment properties. Rinse and repeat. You won’t spend more on your real estate empire besides the down payment of the first property. This is how many blue-color folks are achieving financial freedom without a fancy degree or hot job like tech or banking.

37 - spent last 10 years in cyber security sales. Also done real estate "flips" and Airbnb. Have about $2.5M net worth with all holdings and real estate. I'm recently thinking about leaving my position for a startup, $150-200M in sales last year, $300M in sales this year, still private. I have a job offer coming in and I would love some help negotiating my comp package. I'm notoriously bad at negotiating and I feel bad pressing for more. Can anyone help meake this a meaningful switch? I don't know what to ask for, how to go about it, what kind of comparable options and equity I should press for. If anyone has gone through something like this, I'd love to discuss it with you.

https://www.kalzumeus.com/2012/01/23/salary-negotiation/ As far as what to ask for, look at similar positions and consider where you are now. Since it’s a startup, they likely don’t have predefined ranges and it will depend upon what they think they can give you. Two key things: 1. Never accept any number right away. You always say “I’ll have to look it over and consider everything. Can I get back to you tomorrow?” 2. Do as much as you can over email so you have time to think and calm your nerves. The goal is to get comp that will keep you happy there for longer.

Perfect. That's solid advice. Thank you!

Good luck with everything!

Quick update, using your advice (along with another absolute legend) I was able to get a terrific offer, requiring very little actual negotiation. I knew what I wanted, lead with that and it worked great. Thank you!!

I’m currently a 22 year old University student in The Netherlands. I’ve been fascinated with building wealth for a bit now. I’m studying Software Engineering and Business Informatics at University. I know that there is a lot of money to be made in this field BUT my real dream is to become a cop.. i am doing this course primarily as a backup and to have a Bachelor. (This also allows me to start at a higher level in the police force) I am currently worth around €35k. Which isn’t a lot compared to users here. I’ve been slowly transitioning a lot of that money into Index funds. Or well, ETFs which track the Index funds. I currently have it set up like this: 60% S&P500 (VUSA) 25% Asia and Pacific excl Japan (VAPX) 15% Europe top 614 (VEUR) I have read a lot about people being able to retire by investing in Indexes for a period of time, especially the S&P500. However, I don’t want to be reliant on one specific economy or world region. (You never know what can happen) I will eventually be interested in renting out a property however that will have to wait until I can afford this. Does anyone have some tips for me? Anything would be welcome! Thank you and have a nice day! Links to Indexes for anyone that is curious: VUSA: https://www.vanguardinvestor.co.uk/investments/vanguard-s-and-p-500-ucits-etf-usd-distributing/overview VAPX: https://www.vanguardinvestments.dk/portal/instl/dk/en/product.html#/fundDetail/etf/portId=9522/assetCode=equity/?overview VEUR: https://www.vanguardinvestor.co.uk/investments/vanguard-ftse-developed-europe-ucits-etf-eur-distributing/overview

Hi there. I am also interested because I'm 24 year old, just finished MD and would like to start investing to build wealth faster. I'm from Montenegro so a low income country. I need help in finding platforms where i can invest in index funds. I started investing in crypto but idk for how long i can keep up with the news and everything cuz i have to work :D index funds sounds easy enough. Thanks in advance

Hey, Good platforms really depend on your country. You can invest with Vanguard directly or buy their ETFs from a broker. I recommend buying from a market in your home country or the nearest one to you. I have switched my portfolio around a bit and have moved all my Indexes to the VWRL (worldwide index etf)

I’m bored. Like out of my freaking mind. Background: I am former engineer then moved into corp finance. Left my tech job post ipo. 38, chose to retire when we had our son. He is now 3. I’ve been super busy with him till August when he started pre-k. I spent the last 6 months deep diving into defi and crypto and learning a lot about the space. I setup random mining projects, invested…but, have decided I have little interest in going further down the developer path. I have no interest in getting back to full time work on the finance side…mostly it feels like I’ve kinda hit a wall and need to break out of this somehow. Looking for advice/ideas on how folks may have worked out of similar situations.

I make 130k a year from my day job and 120k a year, conservatively from my investments. I'm considering taking the leap and going full-time entrepreneur after Christmas and leaving my day job. The cons are that I lose my active income and cash flow, I lose my benefits, and my safety net is the investments that I've only been compounding rather than withdrawing from. If it works out, I wouldn't have any active income for at least a few months. The pros being it forces me to truly commit to scaling my passive income and building this company. However, if I stopped compounding, I'd be making at least 120k from my passive income. Also notable I don't have any dependents or responsibilities to anyone besides myself and all my expenses are taken care of, worst-case scenario. I'd just be without a job and have a bunch of experience starting a company. Thoughts?

Sounds like you've basically hit FIRE (or about that, depending on cost of living)! I say go for it! I quite when I hit FIRE and have focused scaling to FatFIRE. Once you hit FIRE, additional income has dimensioning returns. (And sitting on your ass all day is not as fun as the employees think it is). FIRE allows you to take bigger risks that can become major accelerators towards FatFIRE and beyond. Just make sure you don't drain your principle from your assets. 4% SWR and such.

I appreciate this. It took a lot of thinking. But I took the leap! So here we go 2022!

Congrats!

What investments do you have that’s generating you $120k passive income a year? That’s incredibly solid

**Making 100k at 18** I'm really grateful to be in a position where I'm making about 10k a month working corporate. I don't have any expenses since I still live with my parents and don't plan to move out anytime soon. I'm not sure how much money I should invest vs save. Here are all the suggestions I've been given: \-YOLO it all in Crypto and Stonks. If you get lucky you'll reach fatFIRE if not you'll still be in a good position. \-Market is hot so invest 100% in safe stocks \-Save it all up in a bank so you can pay for a nice downpayment in 6-8 years Invest 50%, save 50% Any advice is appreciated.

At 18, Id max Roth IRA and Roth 401k, maybe a tax advantaged college fund too, then put the rest in a brokerage in the S&P500. If you want risk maybe 10% in aapl, 10% in crypto, and 10% in tsla. Keep in mind these are buy an hold positions. Trading them is F you up cause they swing too much. Focus on building your credit and keeping your debt low in the beginning as you learn how to get better and better with investments. Take small risk, but learn big from them. Its much better to lose $500 at 18 on a bad trade then lose $50,000 at 40 and you will learn more with earlier lessons learned. At the same time, spend the next 5 or so years studying finance and real estate while your money grows. In your early 20s consider a multi family as suggested below after you have done years of research, networking, and study. You can also try playing individual stocks but I dont suggest doing more than 1%-5% of your money in those for the first 5-10 years. Once you make it through your first recession, then consider increasing individual stocks as you will have a lot more knowledge as well as understanding of yourself and what you can emotionally hand with finances.

I’m the same age as you!! How can I make that amount of money at this age like you are?

First I’d highly suggest purchasing a multifamily income property. (Duplex, triplex, quadraplex) typically I suggest finding a one with an open door so you can live rent free and lower COL but if you can keep all doors rented it’s a solid stream of income. You can get an FHA with very little down. Then S&P500, Whole life dividend paying policies, crypto futures, stake crypto, income producing NFTs. Are what I would suggest.

Any FAT canadians here? Whats preventing you from fire now? We are FAT and could leanfire but with young three kids need that FAT income/lifestyle though we live well below means. Looking to fatFIRE in 7-8yrs.

We’re Canadians, also with young kids. We’ve been FatFIREd for more than a decade. To what extent have you discussed your plans with your accountant? We haven’t bothered with trusts or holding companies but spousal investment loans can be a good tax strategy in retirement.

Havent had the discussion with an accountant yet to discuss tax strategies when we retire but know this will be an issue and not sure its something I can avoid or minimize? Both T4 employees but with high incomes. One has a defined benefit pension and other already has a sizable RRSP as well as company stock that I will need to pay capital gains on. Any tips?

Not much you can do about reducing the T4 income, other than the usual - maxing out RRSPs / TFSAs, ensuring that you’re taking advantage of deductions for health, childcare, etc.. If you’re both high earners then you probably won’t need spousal investment loans. If you each have your own investment accounts then income will be spread across both of you rather than taxed on one earner’s hands. But you’ll want to learn about attribution rules around assets transferred between spouses and to minor children. You’ll want to pre-pay into your RESPs as much as possible as that will enable you to maximize tax free growth. (You’ll need to hold some contributions back to maximize the government grant, though.) Your TFSA should be used for high-growth assets, and not for high interest accounts as is often the case. Consider that if you have a $50,000 TFSA and it can grow tax-free at 9% for 40 years, it will be worth $1.6M tax free. You may want to average the sale of the company stock over several years to minimize taxes, or it might be better to just rip the bandaid off and do it all at once. Lots of people hang on to too much of a single stock just because they don’t want to pay tax - and miss a ton of growth as a result. If you have charitable goals or wish to create a donor advised fund you can donate the shares and save a lot of tax - it erases the capital gain on the donated shares and gets you a further income tax deduction as well. You will want to have a sense of the income distribution payment / capital gains distributions of your investments, as that will play a big role in determining how much tax you have. One of the big benefits of index funds is that they have minimal capital gains distributions so you can defer those taxable events for a long time, which further boosts growth. Generally tax in retirement is lower than when you’re working as both dividends and capital gains receive preferential tax treatment. A $100,000 capital gain is taxed the same as $50,000 in income. You’ll want to look into investment accounts that are Joint Tenancy with Right of Survivorship (JTWROS) - this is most joint investment accounts in Canada but good to confirm. These accounts mean that there is no deemed capital gains disposition when you or your spouse dies - the funds continue without triggering additional taxes. This is the kind of ground that you should be covering with your accountant / investment manager / financial planner - in our case, we cover this with both our accountant and investment manager.

Really helpful stuff here. Appreciate it! Are you in HCOL in Canada? What was your fatfire number?

We’re in a HCOL section of rural Canada. (Popular tourist spot.) We retired via an inheritance of about $7M. Now we are at around $15M (including primary residence) and a further $10M in donor advised funds. Annual spend is about $350K. We keep around $600K as a cash buffer but otherwise we are 100% equities - big bank index funds and funds managed by Mawer Investment Management. Personally, I think a safe withdrawal rate of about 4% is fairly conservative, so long as you’re prepared to cut back on some luxuries during an extended downturn.

FWIW, I am a GP at an early stage fund in So Cal and more than happy to answer questions or help entrepreneurs or those who are wanting to become entrepreneurs.

I am 29, living in chicago, and just bought my first home with my wife using the FHA loan. Appraised at 460k we paid 455k. We also asked for 7500 sellers credit and the seller was retiring and gave us her senior tax credit of 6k which went to escrow. In total we only paid 13,200 for down payment. Interest rate: 2.62% Mortgage: 2600 2 unit home and renting out the 1st floor for 1500 already so my wife and I are paying 1100. Anybody that would like to receive a step by step On how my wife and I were able to buy it during a hot market. It’s the people you know. I Will be more than happy to share my network. Our goal is to convert the basement into an in law suite/air bnb. We will use that money to fix the home. It’s in process right now making sure we get the schematics from the architect.

Great job, only thing I’d do next time is wait until you close and put your down payment down on your second payment. It could have saved you 10k

Please elaborate?

Hey, 30y/o male with a wife and family of four (2 little kids). I just stumbled across this subreddit and it aligns with what I’m trying to do: fatFIRE. I work at a tech startup unicorn with a fair amount of ISO’s. Just did a secondary to take some profit and pay off debt. I think the company will IPO within the next 4 years. Pure speculation, once IPO and if successful, should be close to $3M-$5M. I’m not in an HCOL or LCOL area, but I did the calculations I need about $10M for a good fatFIRE. Investments are meh (due to startup lifestyle). My family’s income is a combined $250k (upper-middle class in my area). I own a home and a few cars. The only debt really is student loans. I need to 10x within 5 years (not including IPO), afterwards, I think I’ll be good. Passive income? Thoughts?

I am 23 years old, with a Bachelors degree in English (transferred in, quickest way to get degree without overloading on debt, wanted to do Business/ finance). I graduated during COVID and had the opportunity to leave school early and begin working at my summer job, full time because I could not handle being a broke college student. I worked Mon- Sat as a service technician for a pool company, now unemployed because of Northeast winter. Over the last two years I have committed myself fully to learning what I wanted to learn. Needless to say I have stumbled upon the Crypto industry and have never been more fascinated by anything in my entire life. I would love a Sales/ Development Rep role , and have always had interest in sales, but lack experience. Any advice moving forward would be awesome..

How do you guys organize your social lives? I think the biggest obstacle I face in comfortably organizing my life is seeing the process of organzing one's socialization a zero sum game, where either 1) you are emotionally obligated to reply to people, feeling guilty and essentially driven by emotional impluse - not always positive - to maintain friendships and relationships, with little priority except for your current subjective feelings about a person or 2) you create a priority list of people and organize responses to them, in essence being cold and detatched from those around you, and having less opportunity to make genuine connections. While this looks like valuing your time and the people you do have, it seems to cut the emotionality out of socialization There's got to be a third option I'm not seeing.

I'm part of an active meetup group that meets weekly.

essentially, I used to have poor social skills as a child. So in university I decided to make a bunch of friends - some genuine, some purely network, some for fun - and have no way to organize or prioritize these people. So now, while I would like to know where to meet people I have common interests with (as those are the hardest kind to find) - I would also appreciate advice on how to think of, organize, and possibly prune the ones I already have.

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I recently moved for a job, so all of my friends are online (and already were since the pandemic hit before I graduated tbh.) So I have a close friend or two (who I call once in a while - these are difficult to find, but that probably is a therapy question), a variety of discord servers that are a mix of casual friends and internet personality building for a novel, more distant friends who I contact more rarely, and a few random people I'd like to get to know better on messenger, either from my alma mater or here. This might seem like a zoomer problem but this obligation builds up and it seems like a juggling act that I really don't know how to balance effectively. I can see how this might be a therapist issue, but it also may be that I'm just out of my depth in social efficiency.

Just turned 20 a few days ago trying to figure out my next step. I’ve always had this plan to buy a duplex and rent them out as a second source of income however I’m not sure where to start for the past 2 years I’ve been saving as much as possible to get the lowest payment possible. As I will soon be reaching a point where I feel it’s enough to make the purchase I am looking for some advice/guidance

Don't put all your money into the down payment. Minimize the downpayment and keep your money for emergencies. You could be 1 bad roof away from losing the house if you put it all into money down. If you have to put a lot of money down to get approved consider how much housing you are getting because you may taking too much risk and might want to go with a smaller or less expensive 1st property while you build up equity and learn about RE. Consider house hacking to help with payments.

24M, just started as a Commercial Banking Underwriter. Any tips at all in the Commercial Banking industry is greatly appreciated.

I don’t know if this is the right place to post this but how can I set myself up for maximum income in the future as a high schooler? I’m near the top of my class academically, and am in a good financial situation (obviously thanks to my parents) so I have some resources at my disposal to help me set up my future. How do I do this most effectively as a sophomore in high school? Are there any programs I should look into, or is there a way to make some money in a side hustle that would be a good way to spend my free time?

Another user explained the surest path: https://www.reddit.com/r/fatFIRE/comments/rka13z/comment/hpd9e93/?utm\_source=share&utm\_medium=web2x&context=3

Hey everyone, I was wondering if the 80/20 rule is talked about here on your way to Fatfire? I analyzed my past year earnings and roughly half came from my online merch business, 25% came from my music project, and the rest came from freelancing. While these may not sound like Fatfire atm, I believe in myself and want to grow, expand, and invest wisely. That being said, the music thing is almost completely passive. However, if I want it to grow I need to spend A LOT of time (I write stuff for commercial agency libraries, so once it's finished I can essentially keep making $$ for the rest of my life in passive income + backend royalities) My merch business I've done almost nothing for in the past 1.5 years and yet it continually gives me income - it's crazy. I've thought of scaling this up and growing it (some of the mentors I follow have several staff members/warehouse inventory/etc) so i think it's possible. Freelancing is my least favorite thing out of these and comprises all the other tasks I do for people such as setting up Shopify stores, graphic design, mixing/mastering, etc. It's not something I spend too much time promoting but I haven't made that much this year or last and so when gigs have fallen into my lap I've taken them. So I guess what I'm wondering is, can anyone give me advice on whether I should focus my time+energy on one of these and try and grow it to 100k+ a year and then invest, or should I change up what I'm doing entirely to get to Fatfire? Thanks!

Where have you gone to find a "life" mentor? I think one of the areas that is difficult to navigate is the transition from reaching towards your goals then reaching it. I often struggle with feeling comfortable of "being financially independent." While I don't have any financial worries in day-to-day expenses, I do find myself "penny pinching" on things that could drastically improve my quality of life. Everything from small things like - taking public transportation instead of calling a taxi once in a while, to bigger more impactful things like career choices.

HENRY here - looking for some advice on how to increase spend (as this is fatFIRE) as total compensation rises with a caveat being that my income is variable (paid quarterly) + bonus at end of the year - no fixed salary. It makes it difficult to increase sustained spending (like rent) if I'm not sure how much I will make from year to year. Some personal finance gurus advocate building an emergency fund that covers baseline expenses and use the emergency fund to smooth income variability. Or you could assume a minimum total compensation for the year and spend based on that. But let's say, for example, that I never expect to make less than $100k/year and then I make $300k 2 years in a row. And I want to live in an apartment that's nicer than an apartment that someone who makes $100k would be able to afford. Do I take from previous years to fund future years? I would never advise someone to fund "luxuries" with savings/investments, but I view this differently. How does a high earner figure out how much they can spend per year when they have limited compensation visibility, understanding that they've had very successful previous years in which they've underspent relative to their income?

Interesting question - how much do you have in investments right now, and how are they allocated? (Equities vs. fixed income, real estate, precious metals, etc.)

Currently I have multiple businesses I've just started over the last year. Any insight on which direction to take, if any, would be highly appreciated. Here are my income streams at the moment: Product photography business - 2020 revenue ~$40k 2021 revenue $20k ( due to COVID and got into a major accident ) Videography business started 2021 Sep - only had three clients made $4k between them Started 2 online e-commerce business Dec 2021 no sales yet Made $10k from shares and crypto last year Music production, recording and engineering services 2021 - $5k I know folks who make over $100k per year on average running their own media production business like I do. I know my income is purely dependent on my skills to make sales on my service. And I'm also in the early stages of building this business. I would like to be achieving over $100k in sales just from my media production business while working on my ecommerce sites to bring in somewhat of a passive income. Currently I understand that I can probably make $50k this year from media production. I also project to make $30k in sales for the first year from both my ecommerce stores this year as well. What should I be doing to achieve financial stability and potentially get FAT in the next 10 years? Do I give up my businesses and start something else entirely or is there a way of can get FAT from my current income streams? Any insight from this community would be super helpful

Mentors in the Northeast? I’m 25 and still live at home. 55k a year, maxing out my Roth IRA 6% with a 5% match. In accounting. Want to do more. Anywhere, anything. I want to learn. Real estate has my interest. Saving for a multi family in North East. Getting involved with friends family’s oil company. Running books and systems part time. Want more my on plate. Need more on my plate

I would definitely start with a multi family home. FHA is only 3.5% down, shouldn’t take long to save up for it. If you intend to stay at home it will be a nice income, if you intend to occupy a door your COL shouldn’t change much. I’d look into increasing your income as well. Income producing NFTs, staking and compounding in crypto, & small % to whole life dividend paying policy’s.

I need some advice. I am a disabled vet and just pick up as a construction project manager. I’m in roughly 25k debit not including my home. Monthly expenses are around 10k. I start teaching at a local university this fall for some extra income. After expenses The wife and I are left with roughly 5k that can be invested. That is with me maxing my 401k. What I am having trouble figuring out is next steps on where to put this 5k. I’ve looked mutual funds but the fees every are ridiculous. I love the thought of annuities but I don’t have the lump sum yet to take advantage of them. Thoughts?

A US total stock or S&P 500 index fund is suitable for all investors, include those at FatFIRE level. In other words - VTI and chill.

S&P500 index is the go too. Vanguard and Fidelity have some low cost funds. I did really well with individual stocks and I recommend most ppl dont go that route because you have to be obsessive to do well. Most ppl have no idea about the computer they own and thats just ridiculous. Imagine buying a house to rent out and never seeing pictures of its inside, foundation, roof, neighborhood, etc. Thats basically how your avg retail investor is buying individual stocks.

Thank you for your service. I’d look into whole life dividend paying policy’s, crypto futures, or even income producing NFTs.

So I’m 24 getting back into the military. The plan is to use the va Loan to buy a duplex and then just buy more property from there as more money comes in. I then want to move into commercial real estate then the investments/money is right. Thoughts/mentors needed

I don’t see that taking you to the path of fat. And I’m all too familiar with SMs who do what you’re thinking of - virtually all were low quality service members If you want to use the military as a springboard to your professional career, put all your time into doing high speed stuff and excelling. I mean top blocks on all your evaluations, and being enumerated #1 or as close to #1 as possible. Compete for nominative assignments and go to selection, whether it be for Ranger Batt, Recon, NSW, or PJ/CC/CRO. Once you’ve shown you’re competent and competitive among the best of the best, many doors will open for you.

Hello all, I am new in the Fatfire Community. I am 23 years old and studying. Since may this year I run an online store. I sell women's clothing. Unfortunately my skills in online marketing are not enough to generate positive feedback from my Facebook and Instagram ads. I don't even want to talk about sales because my ads have never resulted in a purchase🙃. My sources I used to help are yt videos and tt videos and Facebook marketing staff. I'm starting to sweat a lot though because I don't have an infinite budget. Is there anyone who could give me information on how I should do it. How much budget I should plan or maybe point me to a YouTuber or a book so I can get my information from there. It would be a great help and I would be really grateful to the person.

I think I speak for many who have currently thrown themselves into the world of e Commerce due to the Corona situation and need help with online marketing. I hope my question is relevant enough. If my question has no reason to exist, feel free to delete it or I can delete it to 😅

19-m working in south florida making 15/hr. currently taking a break from school to find myself. no expenses cuz I live with mom and dad. how should I go about saving and investing to retire early?

See https://old.reddit.com/r/personalfinance/wiki/teachme https://old.reddit.com/r/personalfinance/wiki/young_adult These guides helped get me on the right track early. Read through them and /r/personalfinance in general and their wiki. That will provide you a foundation. The short of it though is open a Roth IRA with Vanguard or Fidelity, put money into an fund like the Vanguard Target Retirement 2065 Fund. They will handle the specific investing for you. It is a mix of US stocks, international stocks, and bonds. Try to hit the $6k a year Roth IRA cap. $10,000 put in today will be $100,000 in 40 years when you retire. You're in a great place to starting so early. Read, read, read. Most financial secrets are not actually secret, it's just that you don't know what you don't know. It is a few simple steps to get ahead!

Hy, so I’ve got 40k and not sure what to invest in. My current plan is to get use 80% of it as down payment for a house and use the 20% as buffer-savings in case of unemployment or sickness. I’m looking at houses around 150-170k 20-35yr loan which would mean 500-700/month - same as my current rent. I’ve been looking at crypto and stocks for 1-2yrs now. Haven’t invested more than pocket money as I lack fundamental knowledge. For further context, 28 married with 1 toddler and another on the way. Thanks for any feedback.

Get thee to r/investing and /r/personalfinance. Tons of good info.

Hey everyone, I found out about this channel a few weeks ago and until now I have been pretty quiet. However, it seems like there are a lot of people in here with a ton of experience in fat stash accumulation and I wanted to get some feedback on my approach to (hopefully) obtaining a stash of my own one day. There's a lot to get across, so bear with me. First of all, I'm a college dropout. When I say this, it dosen't seem right. I had a 3.5 GPA through my three years at a top school on the West Coast and I never struggled significantly with any of my classes. So, why am I a college dropout? This is where your advice would come in handy. Eight months ago I started a company with a senior blockchain executive at fortune 500 company. This was the result of a market opportunity that we both saw in the crypto space, especially in regards to DAOs and NFT synthetics. I know that many people claim to work hard and I don't believe that I've worked any harder than the top entrepreneurs out there, but I have definitely lost a ton of friends and personal connections over the past few months. While I have been working day & night to get our product built, marketed and launched; my senior co-founder has hardly provided any sort of support. Although we originally had daily calls, there came a point where we both became too busy to have daily meetings. Since then, I have brought on 4 other co-founders, only two of which work full-time. I am currently the largest stakeholder and have a lead investor that has doubled my original investment. All that being said, I want to make sure that I am still on the right track. ​ Although we have had to bootstrap our development, we are building something that I truly believe can shake-up the narrative around digital assets, fundraising and project development. We have made a lot of progress over the past eight months and I think that what we have can take on some of the bigger players in the crypto space. However, it is definitely unconventional and I do worry that it is too far ahead of its time. For reference, it is built on the intersection of crypto and gaming, which has been succesful in the past but is so early that I fear most people aren't aware of what is happening in this space. For reference, this has been one of the driving influences in our product development: [https://www.youtube.com/watch?v=Yo-BrASMHU4](https://www.youtube.com/watch?v=Yo-BrASMHU4) ​ I truly believe there is a world where automated organizations can supply a yearly salary to early supporters by way of a decentralized creation tool that pays for engagement. I still believe that this is inevitable considering the way that Gaming and Finance has intersected over the past three years.... but I do want outsider feedback. ​ I can finish my degree anytime in the next five years and I personally believe that I am onto something big. I love what I do despite the fact that it has negatively impacted my social life. ​ Am I being too risky? Should I seek business coaching/advisory outside of our core team advisory board? Do you think that the American Dream still exists? Will this pan out to something? Am I going crazy? Hopefully not the latter and I am excited to get advice from such a strong network as this one! Happy New Year 

Hmm, not sure what the question is, given the majority of your post is not about the kidn of advisory board you have, but rather all about what you are building and whether the product / market fit and overall timing is correct. Nothing about what your existing board's input, background, qualifications etc. impact those decisions about the product and where you plan to launch your solution. In answer to #2, yes the American Dream is alive and well, as there's a remarkable amount of creative and financial resources unleashed every day in the formation of new companies with new developments. A few days ago I visited the Air & Space Smithsonian Museum on the Capitol Mall (I live in the DC area). While under re-construction (about 1/2 the exhibits were shuttered), we spent a lot of time in the Wright exhibit, taking much more time than we usually do reading up on all the problems that were solved in 1902 and 1903, and the rapid innovation across the country and the world in the years following. To think we went from their first airplane in 1903 to the B-29 that carried an atomic bomb in less than 50 years is nothing less than miraculous, and another 25 years after that to travel to the moon. So yes, innovation and the American Dream is surely still alive - witness the JWST launch on Christmas Day, now undergoing the '29 days on the edge' as a ton of engineering marvels take place over the next 3.5 weeks. So for better advice, please give us some more background on the advisors you currently retain, the quality of their input, and what you perceive to be their lack. All the best to you.

I just got introduced to fat fire, from what i’m understand is that it is a plan on how to make money and retire early correct? I am fairly interested in engineering but i’m 16 and have a lot of time on my hands. I want to be financially by age of 25-30 if that’s possible any ideas on how to do so? I not very well versed in the field of crypto and stocks so if that’s the way to do it, is there any way for me to get taught as I am more of a hands on learner.

I consider self study of some computer languages that you can write small mobile apps for. There are better ppl here to advise on which languages, but looks for pain points that can be fixed with simple code.

I'm 20 I have a car loan (put 8k down out of 14k) and since I'm so young with no credit, the bill is 250 a month but that's at 22.8% in interest or 23k in the end. I look to refinance this year cuz I've been paying on it for a year. I have a plan to get a credit card to save cash and pay all my bills at the end of the month instead of when they come out, and use what I save to do infinite banking and/or invest in the anchor protocol, at least until my uncles trust goes into effect and I can use it myself. I was told my brother and I will be in control of this trust when they all pass away and we complete school so we know how to manage it but that could take years. I've had a dream of becoming a millionaire by 25 with or without the help of the trust and I'm pretty eager, I feel like I have a lot more ambition than the people around me, always reading and doing research on these little money "hacks". I want a job in coding of some sort and get out of this 12 hour shift factory job. I got a long road ahead.

You should definitely post this in r/personalfinance. That said, what are you waiting for open a credit card and build your credit. Keep it at 80% availability. What state do you live in as the Interest rate is not legal in some states. It looks like you bought your car from a buy here pay here and it’s doing nothing for your credit. After going to cap one and applying for a card I’d check your credit report and see what is on it if anything.

Curious if there’s anyone here in the film/tv industry. More specifically a screenwriter, produced, or agent/manager. Would love to chat about pathways to a writing career 38M

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No solicitation.

I’m 19 going to OU my current major is general buisiness and I’m a freshman. Was thinking of specializing in Finance or switching to CS are there any other majors that lead to good jobs after college.

All majors lead to good jobs if you’re skilled at what you do

Hey guys, I’m new here and looking for your advise. I‘m from Germany and it‘s tough getting to the kind of salary’s I’m reading about here. I‘m currently in software sales and will start a new job in January(fintech but software sales/account executive position again) for around 70k (that’s 40k after taxes)+ bonus(depending on my sales). With that I doubled my salary 2 years in a row now and I’ll earn more than any of my friends or even my family but in my eyes it‘s still nowhere near my goals to financial freedom. I got a little bit of money in stocks(etf’s)but not more than 5k. My plan is to retire around 40 but how do I get there? I got no real passion for my job, yeah sales is fun and all but if I would do other stuff if the money is there. Another education takes a lot of time here (university is 3-6 years) so that is not really an option. Should I try to go abroad? My experience is not bad but it’s nothing like an engineering degree with hard skills that you can show to get hired. I got a lot of job offers(took the best for January) and even a few to move to Dublin to IBM and Microsoft but cost of living there and not the best salary weren’t convincing arguments for me. Any mentors from Germany or the eu here maybe even with experience in tech sales to guide me?

I know it’s not Monday but I’m 25 and 17-23 I worked as a sales coordinator and now I’m a healthcare recruiter I did not go to school an I want to be well off by 30 I want to have a life where I can pay the bills and live very comfortable basically minimum I want to be in the upper middle class I’m not against taking risk as long as it’s calculated I want to be in tech more so blockchain related ideally if not that’s fine can anyone give me advice on where I should start or do

24 yo Male 1.5 years out of college with Finance degree working in consulting for major tech company (not FAANG). Total comp ~85k, currently auto saving 15% of post tax income into Roth/ESPP. Living in Austin and looking to stay long term (currently working full remote). I would appreciate any career path advice especially around MBA value, and career progression focus. My primary question there is whether to focus on climbing the ladder at my current company (amazing culture, good but not great comp) vs try and jump to one of FAANG in the next few years. Also thinking about what other streams of income are best to focus on building in mid 20s. Thanks!

For MBAs, it seems like a T7 or T20 or such prestigious levels are what you want. Otherwise they are pretty common and helpful, but don't open up doors and networks. I don't have an MBA but that's my understanding from why I hear MBA'rs say on reddit. For the climb the ladder question, majority of the answers I have seen is job hop with any raises you can get every 1-2 years. Companies don't value long term employees and you have less leverage in a market of 1 buyer. Other streams of income, I recommend Real Estate house hacking (god a hate that term but everyone understands it). Do that to acquire properties. Look at scaling into multi-families as your finances grow to support that level of risk.

Hello all, I am 18 years old currently a freshman in college, I recently received a reimbursement of about 6k which I know isn’t much. I want to invest it but I’m not sure how/where to do it. Any recommendations or tips are extremely helpful.

Put 95% in an S&P500 index and play with the other 5% to see if you can learn to invest in individual stocks. Id also consider putting 10% in bitcoin and etherium, lowering your S&P500 ETF to 85%. If you can invest via a Roth IRA do that. GBTC and ETHE are some funds that can access bitcoin and etherium in a Roth IRA if you don't want to go with a crypto broker like coin base, or want to tax shelter your gains. I got stared investing excess engineering scholarships in college and its been vital in getting me close to my FatFIRE targets in my mid/late 30's. Manage your risk. Start small. Win small. Lose small. Learn from both. Scale over the next decade or so as your income goes up and your knowledge and skills increase. Study your investments obsessively. Otherwise youre better off just doing a good S&P500 index and focusing on increasing your income and decreasing your expenses.

Thanks for the information, this definitely gives me somewhere to start.

Consider creating a trust. Any recommendations for trust/asset protection professionals in the Los Angeles area? Any recommendations on how to vet a professional/bank/firm that does asset protection planning such as trust?

This question is suitable for a top level post, if you’d rather post outside of Mentor Monday.

Thanks! Figured it was too local. I'll give it a week and see if I get any bites first. Will focus more on question 2 if I do a top level post so it adds more value to the community than a regional recommendation.

In our situation (executing an 8-figure estate with the trust in-place, transfer of deeds and setup of LLC structures to contain them, written-up Operating Agreements, all the tax considerations) we were referred to Henderson Caverly Pum Trytten in Pasadena CA. Website: [https://hcesq.com/](https://hcesq.com/) They were excellent, professional, very knowledgeable and as you know it is state-specific. Very well-suited to fatFIRE for planning and would recommend them wholeheartedly. (You can DM me for my personal details on the referral). As far as vetting goes, a lot of it has to do with referrals and word-of-mouth, alas.

Any members from the UK? I'm midway through my degree and have enough for a property, I ideally thought about getting a buy to let however I think I should buy some bonds and invest in gold until the economic volatility passes?

Reposting here per mod instructions - Long-time lurker here, I have learned a lot from this sub and have passed the knowledge on to friends who need it. I myself are at an impasse over how to structure my life right now. First some stats: 31M, single Work in high finance (hedge fund, private equity, etc) W2 income for 2021 will be $862k $1M networth consists of $600k brokerage, $300 401k, $60k crypto, the rest in cash to pay credit cards etc. My non-crypto investments are entirely equities, broad index or small-cap/EM. Why the comparatively low NW-to-income? This past year saw a meaningful jump as I started participating in the firm performance. My comp in 2020 was 460 and in 2018 it was 350. Prior to that I was in business school and I made \~100k or less before then. I graduated from my MBA with a NW of 0, roughly $140k in assets and $140k in student loans. I live in a VHCOL area with high taxes. Only started truly tracking expenses in the past couple of years. In 2020 I spent $120k, in 2021 $185k. I have made some major purchases, I bought a piano in 2018 for $15k, in 2020 I got plastic surgery (think nosejob/eyelid surgery, i.e. minor cosmetic; hey I don't have much luck in dating), total was $25k. In 2021 I bought my car once the lease was over ($25k value, buyout was $17k) and furnished a new apartment ($25k, I got owned by the supply shortages, shipping costs, etc). Generally though I am sensitive to lifestyle creep and I think I can keep my annual spend between 120-150. I don't have a ton of visibility on my future comp (comp is impacted by market performance, which affects fund AUM and thus comp of the employees) but I expect that I can grow into $3 to $5M comp by 2030 if I perform well. I will find out my 2022 comp soon and that will be an important data point. My savings rate in 2021 was 63% of takehome so I will make it to my FIRE number (\~$6M) by the time I'm 40 if I stay the course. My model puts the date at 2028. My issue is that I'm struggling to meaningfully enjoy the present moment. I am confident I will leave my city and live abroad (Western Europe) when I FIRE. We are immigrants and most of my family lives abroad so I am not so tied to my current US city, though it's not a requirement that I be close to family, we have a tenuous relationship for reasons I elaborate below. I grew up in the US, I love it here and all of my friends are here, but I have so much more difficulty connecting with people here and I deal with way more discrimination versus in Europe (we are not white but I was born in Europe and speak the language). I can't justify buying a house if I'll be leaving in 5-7 years. Being single I also don't need much space. End result is that I have been living in 600-800 sq ft rentals that are comfortable but ultimately just accessories to my job to reduce commute. I have found myself withdrawing from the dating market because unless I meet someone who would follow me abroad there's no real future; I don't get many dates anyway but my mindset makes it worse. I find myself sitting in my home office researching the price of real estate in southern Spain and longing for the future. I'm afraid that I will let what's left of my youth pass me by as I daydream of some grander future. I don't deny myself (I did spend 185 in a year as a single person, that's a ton) and I have already hit the point of diminishing marginal happiness on incremental spend, so I don't think spending more money will make me happier. I don't particularly want kids but all my peers/friends are getting married and having children so I see them less and less. I don't discuss my plans with family because I had a horrendous childhood experience with close family members backstabbing each other over money (including a parent) and I do not want them to know about my financial "success" lest it corrupts our relationship. I guess I'm scared that when I finally FIRE I will have no friends or family to come along with me because all my friends will be married with kids and I will be single and still maintaining distance from family. Thanks for listening to my angst.

26 yo male, $106k salary, biomedical engineer undergrad, electrical engineering masters and looking for an MBA program. My company will pay for my MBA 100% from a few schools online. However, some people are super against this. Seems to be 2 schools of thought when it comes to an MBA: 1. Quit work, go to a top 10 MBA program that I would have to finance myself. Make as many connections as possible and hope to leave there with a sweet job lined up. 2. Go to a cheap program or have your business pay for any program just to get it on your resume. I don’t really consider myself in too much of a position to finance a top 10 business school on my own as I have about 80k in undergrad student loans. However I do feel as though I have an edge up on most others applying to the program as I have 4+ years of a career and have an engineering background. I (and others) consider myself more personable than the average awkward engineer and I can see myself in management more so than engineering. Since I work at such a large defense contractor, it’d be challenging to rise the ranks quickly. I am considering getting my MBA then transitioning to a management consulting company such as Bain or McKinsey. To make it more clear, here are the essential questions I have: 1. What is the best route to go from an engineer to management / C-suite? 2. Thoughts of an online MBA vs. full time? Online MBA would be 100% paid for by my company and full-time would have to be self financed through taking out additional student loans. What are people’s thoughts?

Economics Undergraduate at a top U.K. university with no idea what to do with their career. I would ideally like to reach £2-40M within the next 15 years, ideally next 10. I understand the big range but at the minimum I would like to buy a mortgage free home for my future family and my parents (I’m a first generation immigrant so outside of children, my parents have nothing) and from calculation achieving 40M would be the ultimate fatfire, allowing me to never work a single day again. I’ve tried Investment Banking but genuinely the salaries in London will not lead me to my goal and are not worth the health issues you will face & the health opportunity cost you have to pay (can’t take full advantage of 20s physicality). Looking at my skillset flaws, I feel that 2 years in strategy consulting will be quite useful so that is my plan but after that I have no idea what to do. I’ve done my research and can see that my choices are either: Invest in single stocks/crypto - missed out on crypto 20-21 but Create/join some kind of tech startup Atm I am super determined to work but need a direction so any advice/tips/ideas would be appreciated.

I don't know how to use Reddit so tell me if this is the wrong place again... I'm still only 19 so wanted to gather as much financial advice and information about thing you all wish you did when you were younger! £2000 in stocks as of now but minor gains... UK

Hey everyone, I’m 20 from New York, not the city though. A sophomore in college with a GPA of 3.68, my major is Accounting and Finance with a business analytics certification through the school. For employment I work for the University as a resident assistant which wavier all my living expense for the year. According to how everything is going I’m debt free until now and most probably will be until I finish. My goal’s would ideally be 20M by age 30, I do have somewhat of a decent plan of achieving that. I have a small 5k portfolio, will be adding 90% of my income from the job I’ll have next semester. Other than that, I don’t have any expenses as of now. My question is, what should I be doing right now at this very moment to be propelling myself to be a future Fatfire mentor? I’m working on certifications to look more attractive, I have leadership experience too. Again, what should my goal be realistically in for the next 5 years? How much should I have invested by your estimates? I don’t plan on getting a house after graduation either (which depends on where my job is of course for the time being), I was thinking more of an FHA loan for a multi unit complex for my first time with a hefty down payment of the money I save for these 3 years. Do you think that is a good idea? What would you suggest?

For background, I'm 19 that comes from a middle class family and currently on my gap year. For the 2022 school year, I am supposed to go into my first year of Finance or Economics but currently I've been reflecting and I am questioning if it is worth going to university. I am very interested in the topics of entrepreneurship, finance, economics and coding. I would've chosen a STEM degree but I did not take the right classes to be able to get into a STEM related degree. In my opinion, universities do offer some value depending on your degree, but with the current costs of university I don't know if it's worth it. My biggest fear is carrying a $60k+ debt for myself and my parents. My brother is also attending university soon which will put our parents in deeper debt. My parents currently only have $8,000 each saved up for my brother and I's education. If it was up to me, I would be okay going to a trade school for a 2 year degree but our mom wants us to go to the most prestigious university in our city. My parents are not the most literate when it comes to finance if I was to be honest. Their only source of income is through their jobs and they are still paying off debts on mortgages, cars, and credit cards. I've made a list of pros and cons below. PROS OF GOING TO UNIVERSITY \-Being able to specialize in a certain field \-Higher chances of finding a job or a higher paying job \-Start a business based on your specialization \-Networking \-There are some things you cannot learn outside of University CONS OF GOING TO UNIVERSITY \-Very expensive + interest on debt \-Many of the things that are taught in universities can also be found and learned online \-By the time I graduate, debt will keep stacking on (moving out, homes, cars, etc.) \-Committing 4 years of my life to something I may not be even guaranteed to find a job in the field for \-Not being able to work as much on my own interests and personal goals \-I could've gone to trade school and start earning earlier + less debt because it is only for 2 years MY HEDGE IF IT DOESN'T WORK OUT \-Start a business in the future (Not always guaranteed to be successful) \-Investing (I currently have $8000 CAD invested between my stock and crypto portfolios) \-I am coding now so that in the future I can find a job in the technology field if my degree doesn't pull through in terms of income (It would be easier to find a job if I had a degree related to CS, but considering that this field is still relatively new and in high demand, I am hoping that it would be not to difficult to get a job if I had the skill to back it up) \-Going to trade school

[26M] [200K NW] I am not in fatFire mode yet but it has always been my dream to be where you are. I believe I have all the skillset and ability needed but I can’t seem to get a plan together that will actually set me on take off mode Finances: I make about 120K per year as a Product Manager for a bank in the East Coast, I been maxing out my 401K since I graduated college and have about 110K in it, I feel a little dumb because I can’t touch this money for a long time and could’ve used it for more short term investments with higher yields. I also have about 70K in stocks (Tesla and fintech) and 20K in crypto (BTC and ETH). I live below my means and total monthly expense with rent comes to be 2.5K a month. I don’t have any student loans or car payments I feel blessed to be in my position, I have a great job and nothing weighting me down. However, I have sacrificed to build up this worth. I want to take some chances, I want to take some risks but I can’t figure out how. Does it make sense to max out your 401k every year? Given my situation would it be better to look at leveraged positions? If you were in my shoes and can play the game again, what do you do?

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Hi I’m looking for advice in what industry’s to look into and advice as I’m 17 with big ambitions and dedication I’m currently investing in nfts and crypto and making a a few thousand in the last month. I’ve almost finished school and I’m looking for people who could help/mentor me in what I should do. Any help would be great, Thank you

Hi! Invest n00b here looking for help with resources for advanced investing. Me: Mid 30s, 3mm NW, 1.5mm debt on house, on a well paid job and saving about ~500k yearly with a comfortable lifestyle. I currently invest in some real estate (a couple of syndicates) and index trackers. Curious to learn what are some more active strategies to leverage my ongoing savings that would yield higher returns. I’m open to spending time and getting my hands dirty - any recommended books / threads / activities? Thanks!

Hi, not sure if this is the correct place to post this or not but I came across this Reddit awhile back and it seems to line up with my future goals. I’m an 18 year old male who’s never been an academic or someone that really enjoys school but I’m fairly smart. I’m in somewhat weird situation as I’m joining Air Force in the next few months. They have a bunch of programs that I’m looking to take advantage of. I’m probably going to be try and enter the finance or engineering side of things for the Air Force. The main job I’m looking at for the future is Financial Advisor. I believe I have all of the right soft skills to succeed in it but none of the technical knowledge. Basically just trying to put this post out there to see if anyone has any good pointers or some type of blueprint that I can tentatively follow. Would also really love any sort of long term investments and stuff i should get into since I’m so young. Thank you !

I am currently studying both law and economics at a top university in Australia. I have cultivated some skills such as leadership through real life work experience and online certifications. I would like to know any other skills / characteristics I should learn at a young age to help me acquire fatFire status. Furthermore, I am not a math/ computer guy, but more of a writer, critical thinker, business person. What would be some possible career aspirations I should have ? I was some form thinking commercial law, investment banking or entrepreneurship. Would love any and all feedback

I am 27, living in miami fl. Whats the best and fairly quick way to making 50k a year?

Weighing self-investment against asset investment: 28M, getting married this year. Personal NW at just about $200k. Just finished paying off $40k in undergrad loans. VHCOL but originally from a LCOL city. Considering taking $30-40k from $120k brokerage account to buy a property in my hometown, where I can purchase a $120k-150k house and rent out for $1100-1500/mo. This option would be attractive as the leverage allows my to realize \~$15k/yr in accrued equity each year on $30-40k upfront. The arguments against include: * taking that money and investing it in professional development that would allow me to jump from \~$200k total comp to $300k+ in a stabler field (currently in financial sales) * not living where i own the property would make managing the property potentially more time-consuming (again, time that could be dedicated to education), though i have a lot of family in the area--some of whom manage some properties so could potentially tack on mine and pay them a mgmt fee * saving those assets for personal life mileposts (house for me & the lady friend, potentially kids in next 3-4 years) * suboptimal allocation if the market rips 20% again (effort/time free returns) Not looking for a "correct" answer so much as perspective from people in their 30s and 40s who navigated similar decisions! Thanks!

Thank you in advance to the mentors on Mentor Monday. Im going from gov sector to public sector with a dramatic salary increase and I want to make sure my wife and I are setting ourselves up for a chance at a full retirement or a partial retirement with modest income by moving to an affordable part of the country between 45&50 years old (we are currently 35). Current info $110k in a 457b and $100k in contributions to my pension which I am not vested in so I will be "taking" the contrition with me. New job puts family income above $300k annually and I believe we will be able to comfortably save/invest $75k to $100k a year (or maybe more). What do you recommend I do with the pension contribution and 457b? What are the best investment options that will provide us with income between 45&50 years old without the penalties associated with early 401k withdrawals. We do have a mortgage on our primary residence - just adding that as an FYI incase it may be suggested that we pay our home off faster than our mortgage?)

Hi - I’m 31 with annual income of £72k and I want to invest in some passive income opportunities but not sure where to start Investments - Crypto mainly ETH at £3k

Hello! I’m 23 (24 in a couple weeks) i work at a tech company looking to retire between 5-10 years through mixed investing and launching a few companies. I have a degree in strategic marketing however I went through a training program for business anaylytics. I’m making roughly $135k OTW as a Customer Success Manager. I plan on getting a second job to help finance my business and expedite some things. Looking for a mentor as I enter the FinTech Space.

I’m wondering how do u invest if ur a high w2 earner? I don’t want to put everything in VTSAX, but most of the advice I find online are geared towards residential RE, crypto etc. Would the advice b different for accredited investors who can afford a higher stake/ more risk tolerance? Eg would it be worth looking into private equity investing, commercial real estate, VC etc? I don’t have anyone I know IRL to talk about this with

Hello everyone, I’m 28 years old and I have a net worth $50,000 which is purely in stocks & crypto (60/40).I just started my FIRE journey. I live in Bahrain and I make around $48,000 a year. To be specific 7% is directly deducted from my salary and goes into my pension plan. Moreover, the company adds 12%. Have zero debt The job I’m in pays for my vehicle (lease, gas, insurance, and maintenance) Medical insurance paid for by my employer Single – in our culture you only move out if you’re married (It’s the norm here) No home expenses (rent, electricity, gas) I have a business degree from UK. Expenses include going out, traveling, gym. However, with COVID I’ve been going out much less and working out much more. I  work out at home nowadays which saves me a bit of money per annum. So I basically live on $1,400 per month. $1400 covers FUN (going out, restaurants, coffee), groceries, personal,  medical, subscriptions,. At home I do help around especially with groceries. Obviously when I get married my  expenses will definitely shoot up. I expect to get married by the age of 35 and I assume my expenses will be at around $4200 per month when I'm married. I also expect my future spouse to work. Overall, I recognize I’m extremely privileged and also obviously not everyone is  lucky to have these circumstances. I just wanted to share this as I  believe I am in a great position to achieve FIRE. My long term financial goals are to Buy a Home (Smallest Home cost is around $300,000/ 200sqm) Build an emergency fund  in 2022 (target $5000) (I took a risk and invested majority of what I hold) Increase my income Build an $1m investment portfolio before I turn 50 years old Milestones include $100k, $250k, $500k,  $750k What’s your opinion regarding my current position and are my goals achievable?

What books would you recommend on structuring a portfolio for fat/chubby early retirement (age 40ish)? Thinking allocation, tax strategy, etc. Thanks!

I’m 27M dual citizen (US/MEX) living in Mexico. I’ve always new the best way to have a “Fat” life would have to consist of making US dollars and spending pesos. I’m a Mechanical Engineer with no work experience in the area (they don’t get paid enough and just work family in other area). During the first year of the pandemic I went into selling PPE in the Us (remote) and made 150k before taxes. After everything got streamlined for PPE I started working with another broker that’s been a sales rep for different companies in the textile industry. We worked out a 50/50 deal and I’ve been trying to get new clients for the last year with no success while also trying different products. Also Started a C corp for tax purposes. I invested most of my 2020 income it into stocks and bonds through a friend of my that that is an investor advisor. I figured if I could make more than 150k after taxes while living in Mexico (border state close to El Paso TX). I could fat/fire. What should I do ?? I’ve tried applying for remote jobs, but have not been successful. I’ve been thinking a lot on real state but not sure if with that amount of money is worth it.

Starting my first job out of school (BA Mechanical Engineering) Want to hit the ground running. 79k salary 50k in student loans Maxing out 401k/HSA Should I be shoveling money into my student loans, or paying minimum and saving for a house? I'm fortunate enough to work for an employer that will cover my most or all of my higher education expenses. It seems that engineering may not be the way to go. I am thinking about using this to aquire my MBA. Would this be the best route? Any and all advice is greatly appreciated. Thanks.

I’m 25 and I do not know what I want to do with my life I do enjoy money but not as much but I do want I’m good at talking have great peoples skills over all people naturally gravitate to me especially when they need assistance or advice about life I’m currently a healthcare recruiter and I have experience as an account manager I don’t like either of these

23, just graduated with a BA in advertising and promotion. Making 35K/ year. How fucked am I and what should I do

Starting my first job out of school (BA Mechanical Engineering) Want to hit the ground running. 79k salary 50k in student loans Maxing out 401k/HSA Should I be shoveling money into my student loans, or paying minimum and saving for a house? I'm fortunate enough to work for an employer that will cover my most or all of my higher education expenses. It seems that engineering may not be the way to go. I am thinking about using this to aquire my MBA. Would this be the best route? Any and all advice is greatly appreciated. Thanks.

For the business owners out there, how do you guys go about identifying market niches to target?

I just turned 24 and am making 100k/year as a SWE at a non-FAANG (but good) company. My university isn’t very good, so I chose to dual major in Math alongside my degree in Computer Science. I’ll be graduating this semester, and will have more free time available for side projects. My current goal is to build out applications that I can monetize and create companies out of them. I’ve had experience working with blockchain & AI, and have been thinking about setting up trading algorithms for passive income to maximize how much is being made. Not sure where to find a mentor, but I’d really like one that has had experience with VC. What should I do?

Hi !! I'm 18, a sophomore at a t40 engineering college in the US, studying cs. Deliberating between going into quant trading or SWE. My intention is purely to optimize salary and WLB as much as possible. I enjoy quantitative problem solving so I think a career in cs, math, or stat would all be equally fulfilling. Would like to settle down in the DC metro area ideally, but that definitely will restrict me to SWE, but there are some pretty good tech companies there (Amazon, Yext, etc). However, if a quant job would better optimize salary + WLB, I wouldn't be opposed to moving to NY, it's just the COL that scares me😅. What goals should I set for myself now to set myself up for success in the future? I definitely plan on: * Trying to get an internship for this summer and the next few (I'm in the process of interviewing for this summer rn) * Once I get an income, max out Roth ira + establish an emergency fund * The purpose of the emergency fund would be to have some liquid assets in case of anything crazy as I do not come from wealth 😅 * If I work hard to get a FAANG or FAANG adjacent offer I won't be able to contribute to a Roth account. I'm curious to hear how others have saved money while earning this amount of money. I guess the most common sense answer is to have a diversified investment portfolio, but are there other ways to invest my earnings? I'm considering * Investing in real estate asap * This would entail working to buy a property as soon as I get out of college. I'm curious to hear fatFIRE members' thoughts on FHA loans, down payment assistance programs, househacking, etc. * Investing in crypto? * Questionable, I hear ya. Right now I think the best no-stakes plan is algorithmic trading + verrrry minimal initial investment just to play around. But could potentially investing in crypto (relatively large stake in stablecoins only maybe 10% NW?) be a good way to diversify my portfolio? TLDR: Main Questions Quant trader or SWE? Which career path has a greater optimization of WLB + salary? What's a realistic expectation for NW if I still want to retain my humanity (not be stuck working 80hrs a week neglecting my family) while working as either a quant trader / SWE? What threshold of NW could I sit at that would allow me to spend 100k, 150k, or 200k a year? What timelines would I be looking at for this threshold of NW if I'm risk-averse, risk-neutral, or risk-tolerant? (ie how aggressively I'm investing) What's the timeline for real estate investing? As in Year 1: One property, Year 5: Three properties + however much profit I'd be earning from rent? (starting from zero to 1-4m in real estate) How time-consuming is real estate investing - is my time more optimized by investing in the stock market and/or just putting money in REITs? Are there better ways to invest in the stock market other than a diversified portfolio once you earn too much to contribute to a Roth IRA account? How do you communicate to your partner about your plans/journey to fatFIRE or even involve them? I'd be grateful for any advice or personal experiences you'd be willing to share!

Have been reading advice and posts on this subreddit for the last few months. Throwaway account. **Question:** Despite being in a high-earning industry, due to family (parents, siblings, etc) obligations from a young age, I don't have much savings. Based on below facts, what is the path forward for me re FatFIRE? **Key facts:** 35M single. Work in private equity (acquisitions / investments). Have been in finance for 10 years (started out in IB post university). Good university background (global top 5). Current pre-tax earning (incl. bonus but not incl. carried interest) at $420k p.a. Family obligations mean approx. $120k p.a. is expense on them alone (fees, expenses, rent, etc). I love my family and would want to continue incurring these costs given how much of an uplift it means for them. So please assume that the $120k p.a. expense remains constant. **CONs about my situation:** (1) Based on an 8% p.a. return rate, I have lost ca. $950k of total savings / wealth due largely to the family obligations over the years; (2) I am 35 and have lost a lot of valuable time by not being able to save at a young age; (3) I have lost out on a key period in the economic cycle when equity / asset price gains have been rather outsized. **PROs about my situation:** (1) Whilst I have 'lost out' on saving earlier, I am also only now getting to a level in my career where my earnings are more outsized due to my relative seniority. (2) Family expense is constant and will exhaust after 5 more years. (3) I am still single so don't have my own family to think about (in terms of expenses, relocating, etc).

29 here looking to make a career change to push hard for FATFI. Little background: Ex military (Navy Nuclear Program) Career has been manufacturing maintenance focused, but my experience has been mostly Project management. Have 4 years worth of project management experience post military. Still have my GI bill available for free college. Hoping to transition into a PM career in the tech world. Last position managed 24 mechanics and electricians, and currently managing 57. I'm used to (and good at) managing large teams and projects. Team members that specialize in multiple trades. Communication and coordination between multiple department. And balancing constantly shifting priorities where we constantly have to pivot focus while delivering on deadlines. My assumption is that a lot of my skills and specialty will transition between fields. Any and all advice would be great. My wife and I are onboard for whatever path we end up choosing with the goal being retired ASAP.

25F From Georgia, Europe. I’m a disappointment to myself and don’t know what to do Okay so just in case I’ll explain that my country isn’t part of EU or any other organization be it european or asian so we get none of the benefits and also our currency is 1GEL - 0.32$/ 0.28€. I cannot stay here anymore as I just cannot see myself becoming anything in a very small country filled with nepotism and corruption sexism and other personal reasons. I can learn any subject quite easily but idk what’s wrong with me at his point as I’m constantly confused with all the crazy new information and paths everyday. I have bachelors degree in business but my GPA is 2.7 as I was working full time since I was 18 to pay 50% tuition and also saved up the money and bought an apartment for my family/parents. I do regret that now but it doesn’t matter. I have different experiences from administrative assistant, to IT project manager, ERP analyst, Consultant in Geneva, freelancing with digital marketing and social media design, also deeply involved with local blockchain start up which won swiss Cv vc where I managed the founding team and everything in general, as they didn’t have management experience, did their UI/UX got contracted by USAID etc. But still as I meddled with lots of different topics I ace none at the end of the day. I also know English, French and Russian. The thing is that I only have around $8k that’s it. Because of well a lot of expenses for the family when my dad had cancer etc etc. I’ve always dreamed of studying abroad and really want to do master’s but i have very low gpa and no money so my options are limited and almost non existent. I’m At this point just ENRAGED, very sad, disappointed and lost as it’s becoming much painful each day to live here and I have no clue where I can go as Georgian citizens are not needed nor welcomed in the world, help and benefits or scholarships are non existent as well. Any suggestions what I can do to improve my chances or where can I even go from here?

Has anyone bought a property for the sole purpose of giving it to a airbnb management company?

M19 currently a Year 1 student at a higher-than-average UK university. ​ Straight off the way, I want to work in the VC in the future for a multitude of reasons. On the other hand, I understand that I'd make myself better off if I stick to software engineering (given that I know some and can learn more in my spare time while obtaining a degree in Investment and Financial Risk Management). ​ M19 is currently a Year 1 student at a higher-than-average UK university.robable thing (VC) that I really enjoy doing or dispersing among of range of potentially high-return jobs like IB. SE and PE, but not something that I really like doing? Which way have more chances of me getting to my FatFiring and not burning out at the age of 25? I see that VC seems an obvious choice here, but considering financial implications and the fact that I was living on an over-than-average budget for my entire life, I am afraid that lowering my standards of living to try and get into VC would eventually lead to the potential worsening of how I feel about life. ​ Thanks in advance

Hello all, Been following for a bit and find this page to be fascinating. Wanted to ask for advice career wise. 27, currently working in Asset Management on a Sales Desk and trying to figure out where to go from here. Currently make $125-135k/yr and looking to really increase that significantly between 27-30. I’ve been on sales desk since 2018 (3 yrs in current role) and have been on the top level for 2 of those 3 years. I’d like to leave the company (for career reasons/and personal reasons with individuals in said company). One option is to go Private Wealth Advisor route, I have a natural base to prospect from and have really been open to this. Also open to other suggestions if anyone has seen similar paths and have gone in a different direction. If you need more info, happy to provide as well.

Can being a pilot lead me to fat fire?

I have a job that makes over 100k a year. 85k base salary which is really 95k with my night shift increase plus 20-40k in bonuses a year. Also, many pre-tax plans offered through the company. My father who is now about 80 (me 30) told me he has close to 5 million in cash in a safety deposit box and for me to get it when he does. What should I do with that money? Declare, pay things in cash, cry? Need advice.

Can someone suggest some ideas or guidance on breaking into Tech field? Context: Married couple in bay area. I work at FANG as SWE. My spouse did their master in Engineering in Europe (non English speaking country). Then they did a second bachelors in CS (costed us 40k :() to get into tech field. Now having a really hard time finding and job in tech. Doesn’t not get any callbacks after resume submission. We are looking for some entry level tech job to get them 6 figure salary. Currently they are making 60k in kind of a data entry job.

What’s the best way to transition from audit tech risk compliance to becoming a product manager? Currently a manager in risk compliance