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• 5 years - 81 posts - Latest - RSS
• Thread: 286 Goods vs 27 No Goods

1. Economist
   555b
   

   Conditional on having spent a few years on wall street, that is not a high salary at all. I have had better years when times were good.

   You'd probably also need to make that statement conditional on living in the years 2004-2007 or maybe the late 90s for equities. Realistically, anyone should be happy to earn $300-400K/year for a job that doesn't require much more than a good school listed on your resume and a tolerance for drudgery and long hours. It doesn't look to me like we're going back to the heydays of finance anytime soon, if ever.

   5 years ago # QUOTE 3 Good 0 No Good !

2. Economist
   7088
   

   I agree with most of what you say, but I would say that statement is true even today conditional on being close to the money. In that case, apart from the requirements you listed, one also needs some luck and a bit of social skills.

   Conditional on having spent a few years on wall street, that is not a high salary at all. I have had better years when times were good.
   You'd probably also need to make that statement conditional on living in the years 2004-2007 or maybe the late 90s for equities. Realistically, anyone should be happy to earn $300-400K/year for a job that doesn't require much more than a good school listed on your resume and a tolerance for drudgery and long hours. It doesn't look to me like we're going back to the heydays of finance anytime soon, if ever.

   5 years ago # QUOTE 0 Good 0 No Good !

3. Economist
   077a
   

   bugger i am in wrong profession. i make < 90K

   How many is a few years? 5? 10? I know ppl who are 5 years in and make 200k
   Conditional on having spent a few years on wall street, that is not a high salary at all. I have had better years when times were good.
   Jesus dood, what do u do that u have.400k p.y. are u econ phd
   Finance. 300-400k. About 1.5 million. 8k/month,majority is rent and eating out. I am single and pushing 35. Is there any hope for me ?
   What industry? Pay? Savings? Living expenses?

   5 years ago # QUOTE 4 Good 0 No Good !

4. Economist
   2ac5
   

   ITT: people jealous of OP and secretly want his job.
   I am one of them

   5 years ago # QUOTE 5 Good 0 No Good !

5. Economist
   7088
   

   You are welcome to have it, if it still exists in an year. I have decided to give myself a maximum of an year to settle my affairs and move on. Thanks to everyone who participated in the thread.

   ITT: people jealous of OP and secretly want his job.
   I am one of them

   5 years ago # QUOTE 6 Good 0 No Good !

6. Economist
   64c1
   

   OP from office here. I just realized how much I hate my job. Can't wait to get out of here.

   5 years ago # QUOTE 5 Good 0 No Good !

7. Economist
   f7b6
   

   Good luck OP. Been there. Done that. Hope it works out for you.

   5 years ago # QUOTE 0 Good 0 No Good !

8. Economist
   c600
   

   OP from a different country here. It was painful but I finally did it. Some trepidation but looking forward to restarting life.

   5 years ago # QUOTE 5 Good 0 No Good !

9. Economist
   b363
   

   Do a PhD bro!

   5 years ago # QUOTE 0 Good 1 No Good !

10. Economist
    6a97
    

    That's a bold step, op. Spend sometime thinking carefully about what you want to do next. All the best for the future. Hope all goes well!

    OP from a different country here. It was painful but I finally did it. Some trepidation but looking forward to restarting life.

    5 years ago # QUOTE 0 Good 0 No Good !

11. Economist
    f15b
    

    Bump

    1 year ago # QUOTE 0 Good 0 No Good !

12. Economist
    bbbe
    

    I was in a similar situation as OP 4 years ago. Did a hard reset at age 35, moved overseas, started a family, got out of finance. Enjoying the good life now.

    1 year ago # QUOTE 1 Good 0 No Good !

13. Economist
    7b93
    

    I was in a similar situation as OP 4 years ago. Did a hard reset at age 35, moved overseas, started a family, got out of finance. Enjoying the good life now.

    Did you have a PhD? How much did you have saved before quitting? What do you do now?

    1 year ago # QUOTE 0 Good 0 No Good !

14. Economist
    7b93
    

    I was in a similar situation as OP 4 years ago. Did a hard reset at age 35, moved overseas, started a family, got out of finance. Enjoying the good life now.

    Did you have a PhD? How much did you have saved before quitting? What do you do now?

    OP from a different country here. It was painful but I finally did it. Some trepidation but looking forward to restarting life.

    OP, how is it going?

    1 year ago # QUOTE 0 Good 0 No Good !

15. Economist
    7b93
    

    I was in a similar situation as OP 4 years ago. Did a hard reset at age 35, moved overseas, started a family, got out of finance. Enjoying the good life now.

    What are you up to these days?

    1 year ago # QUOTE 0 Good 0 No Good !

16. Economist
    7266
    

    Bro, unemployed = looking for work. You are retired.

    Bro I so want to do this, but scared of pulling the trigger. I am also concerned with the social stigma of being unemployed.

    Alright, my suggestion is to resign immediately and book a flight to Southeast Asia. Travel for the next 12 months minimum, spending most of your time in lower cost places like Vietnam, Thailand, and the Philippines, but also take side trips to Korea, China, and Japan. Rent a furnished apartment for 1-3 months at a time as a base for your travels. Invest your $1.5mn in a balanced fund and plan to spend about $2K/month, which should be less than the dividends and interest you receive. Visit the US, but do not spend more than 30 days per year there, or else you could be forced to buy health insurance due to Obamacare. Cultivate some longer term interests, hobbies that you have put on the backburner while slaving away to buy this time. While overseas, convert at least $15K/year from your 401K to a Roth. You have no reason to work another day in your life.
    

    1 year ago # QUOTE 0 Good 0 No Good !

17. Economist
    45d4
    

    Did you have a PhD? How much did you have saved before quitting? What do you do now?

    Yes, had $700K, now $1.7M. Moved into senior management for a large conglomerate.

    1 year ago # QUOTE 0 Good 0 No Good !

18. Economist
    7b93
    

    Did you have a PhD? How much did you have saved before quitting? What do you do now?

    Yes, had $700K, now $1.7M. Moved into senior management for a large conglomerate.

    Wow, nice one.

    But senior management?? Are you that experienced?

    How were you hired for this conglomerate job? How long did you stay out before being hired? Wow, to see that you were hired again even after living the world of work for some time is, indeed, encouraging!

    1 year ago # QUOTE 0 Good 0 No Good !

19. Economist
    45d4
    

    Did you have a PhD? How much did you have saved before quitting? What do you do now?

    Yes, had $700K, now $1.7M. Moved into senior management for a large conglomerate.

    Wow, nice one.
    But senior management?? Are you that experienced?
    How were you hired for this conglomerate job? How long did you stay out before being hired? Wow, to see that you were hired again even after living the world of work for some time is, indeed, encouraging!

    I don't believe there is much of a penalty for leaving the work force if you had a good reason to do so. In fact, some hiring managers might like the fact that you won't be as expensive to hire. As for my own career path, I have generally found employment through random connections. My one piece of career advice to you is to always get farewell drinks with people leaving your current employer.

    1 year ago # QUOTE 0 Good 0 No Good !

20. Economist
    733d
    

    Is that in rupees or rubles?

    Finance. 300-400k. About 1.5 million. 8k/month,majority is rent and eating out. I am single and pushing 35. Is there any hope for me ?

    What industry? Pay? Savings? Living expenses?
    

    1 year ago # QUOTE 0 Good 0 No Good !

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