4 ms·

Not every financial firm is that paranoid. Many are, though - i got offered a job in London that your description would fit perfectly! Still, i ended up working

by twic 7y ago

Not every financial firm is that paranoid. Many are, though - i got offered a job in London that your description would fit perfectly! Still, i ended up working at a firm that's the polar opposite of that. I'll also disagree with you about money. Once you have enough to cover all your needs and few wants a year, more money starts to get interesting, because then it goes directly into building financial independence. That's the money that will pay for you to retire, start a business of your own, take a sabattical, move to a low-paid job you love, etc.

jedberg 7y ago
> Once you have enough to cover all your needs and few wants a year, more money starts to get interesting, because then it goes directly into building financial independence. I agree with you in theory, but even if you made $200,000 more a year than you need, how many years will you have to work at a crappy high paying job to save up enough to do any of those things? The only way to build that kind of wealth is either getting lucky on some stock options, being rich to start, or being young enough where $100,000 will carry you for a couple of years.
- mruts 7y ago
  If you put 200,000 per year at a 10% discount rate (interest rate) in the bank, the fair value after 30 years is 1.8m. In other words, a rational person should take 1.8m now vs 200,000 a year for 30 years (at 10%). And this 10% is very very generous, if you're arbitraging between the risk free rate and the equity rate it looks a lot fucking better. I make around 23% YoY on my investments taking a leveraged high volatility strategy and let me tell you, at that kind of return, saving a little returns a big ass dividend. In short, saving a lot can net you huge money, enough to change your life.
- twic 7y ago
  If you can invest with a return of 3% above inflation, 200k/yr buys you 6k/yr/yr of income, so five years would buy you 30k/yr. I lived on roughly that when i was a graduate student. In any case, i'm not suggesting you take a crappy job to get that money - my first point was that there are quite enjoyable jobs which will provide it!

by twic 7y ago

jedberg 7y ago

> Once you have enough to cover all your needs and few wants a year, more money starts to get interesting, because then it goes directly into building financial independence. I agree with you in theory, but even if you made $200,000 more a year than you need, how many years will you have to work at a crappy high paying job to save up enough to do any of those things? The only way to build that kind of wealth is either getting lucky on some stock options, being rich to start, or being young enough where $100,000 will carry you for a couple of years.

mruts 7y ago
If you put 200,000 per year at a 10% discount rate (interest rate) in the bank, the fair value after 30 years is 1.8m. In other words, a rational person should take 1.8m now vs 200,000 a year for 30 years (at 10%). And this 10% is very very generous, if you're arbitraging between the risk free rate and the equity rate it looks a lot fucking better. I make around 23% YoY on my investments taking a leveraged high volatility strategy and let me tell you, at that kind of return, saving a little returns a big ass dividend. In short, saving a lot can net you huge money, enough to change your life.
twic 7y ago
If you can invest with a return of 3% above inflation, 200k/yr buys you 6k/yr/yr of income, so five years would buy you 30k/yr. I lived on roughly that when i was a graduate student. In any case, i'm not suggesting you take a crappy job to get that money - my first point was that there are quite enjoyable jobs which will provide it!