Would you rather trade on your own making 100k yr or trade for a firm making 500k yr
- Thread starter discrat
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I don't this is always the case. A decent fraction of my clients on the buyside don't really need to work any more: they could live comfortably on what they have. I know several who have made tens of millions of dollars (hedge fund partners) and they still come to the office every day. They're most in their late 30s and 40s. My impression is that many people just don't know how to switch off. Or don't want to.
Suss
That's could be another aspect: earning 500K at Goldman requires pre-requisites (talent, degrees, career, contacts, etc..) that you could not have or realize in a reasonable time or being in your cards, while earning 100K with one own trading talent could be more probable even if not assured.
It is obvious that you are young. It is not a path we choose to be born it is a gift. I'm definitely not a victim in my life. You stated you lived in the city. I did too at one time in my life but now live in a rural community where my neighbors come by to hang out, I can leave my doors unlocked and life is just plain grand.
My home that I am building would be a burden anywhere else. One of my friends built a home in CT that was 4K sq ft and with the small chunk of land cost him almost 2 million. I'm building a 7K sq ft home on 10 acres with a pond, a guest house & 5 car garage and it will cost me less than $600K. Quality of life is relative. If I want to be subjected to the city I can fly there. If you want to experience my lifestyle you can't because you couldn't appreciate it for any length of time . . . yet.
Ths isn't a point to argue about because you have no point of reference to compare it to. Someday you will appreciate that which you can't buy and will understand what I am talking about.
What state ?
Is that 600k including the price for the land ? Are you doing the contracting yourself ?
Gee! Let me think! 100K on my own, or a million working for someone else. Me thinks I'd take the million for a couple of years minimum, then trade my own account, if I cared to trade at all at that point. Anyone who can't figure this out is an idiot.
Just because you can't see it doesn't mean it's not possible. And it is all really about patience. I took this route many years ago, slow growth with my own hand on the tiller. I live well within my means and over the years that posture has handsomely rewarded me. The fastest route is not always the best for all. And it really is not about $100k annually. That view misses the real underlying beauty of being self-sufficient.
The sacrifice may be the larger more materialistic bounty, in the beginning. But the peace of mind that it couches grows with age. For me, that peace and knowledge has become synergistic and spilled out into other pursuits. Time and this posture has afforded me the ability to move from being a trader, into being a trader with investments. Those investments grew from just stocks to include real estate and business ventures. Those business ventures expanded into additional challenges and so forth.
This also gave me time to mature in the arenas of wants, desires and wishes. So many of the youth mistakes got bypassed because I wasn't ready. Sounder more meaningful and lasting decisions have been the flavor of the day. Inherently, discipline was improved. I am less stressed than many of my peers and I do have a clue about what I want to do next. And now I have the resources to do it.
I don't smoke, drink sparingly and could probably stand to lose about ten pounds (ok fifteen for optimum). I always get told that I look much younger than I am. The foundation for engaging, wide-ranging conversation is there, between the ears. And not just about trading either! And oddly enough, I regularly turn down the invitations to work for the so-called, "big bucks!"
I probably have less debt than someone with a third of my income. And now I'm really becoming dangerous, I'm teaching my nieces and nephews the lessons learned. I'm that jet set, self-employed uncle that they just can't seem to get enough of. And I'm not fifty yet!!! All that and, I'm African American. What a country!!!
The sacrifice may be the larger more materialistic bounty, in the beginning. But the peace of mind that it couches grows with age. For me, that peace and knowledge has become synergistic and spilled out into other pursuits. Time and this posture has afforded me the ability to move from being a trader, into being a trader with investments. Those investments grew from just stocks to include real estate and business ventures. Those business ventures expanded into additional challenges and so forth.
This also gave me time to mature in the arenas of wants, desires and wishes. So many of the youth mistakes got bypassed because I wasn't ready. Sounder more meaningful and lasting decisions have been the flavor of the day. Inherently, discipline was improved. I am less stressed than many of my peers and I do have a clue about what I want to do next. And now I have the resources to do it.
I don't smoke, drink sparingly and could probably stand to lose about ten pounds (ok fifteen for optimum). I always get told that I look much younger than I am. The foundation for engaging, wide-ranging conversation is there, between the ears. And not just about trading either! And oddly enough, I regularly turn down the invitations to work for the so-called, "big bucks!"
I probably have less debt than someone with a third of my income. And now I'm really becoming dangerous, I'm teaching my nieces and nephews the lessons learned. I'm that jet set, self-employed uncle that they just can't seem to get enough of. And I'm not fifty yet!!! All that and, I'm African American. What a country!!!
I will officially stop with the one liners..Its giving many the wrong impression,and you in particular took it completely out of context,especially since you choose not to be a victim.
By saying there are no victims,there are only volunteers,I meant to say we choose the path we are on,either consiously or subconsciously.Many people live their life with their heart "disconnected" from their mind.They work independently,often times creating inner strife..
You chose to leave the city and live a life where the quality of living far surpasses that of being in the big city.Had you remained in the city and been miserable,would you be a "victim" or would you be a volunteer??
Your assumptions are way off base,and it is suprising you are as defensive as you are...How could you ascertain my age??How do you know if I could/could not appreciate the rural way of life?
You are correct that there is nothing to argue about.You are incorrect in every one of your naive assumptions.....
sounds like a nice crib, I figured you had to be doing it without paying a GC for that price.