if you can't save, long term, 25% of your salary, u r messing up

[dillj]

and that's a fact. YOu'll never have a decent life. In fact, if you can't save and properly invest, half of your salary, by the time you are 30, you're never going to amount to a crap. YOu are making far too little, have WAY too high expenses and you don't know squat about investing. Fix those shortages, or you're condemned to horrors.

 

[synergy1]

Remind the esteemed readers of SS who you are and what makes you qualified to make such bold statements?

 

[Tenacity]

and that's a fact. YOu'll never have a decent life. In fact, if you can't save and properly invest, half of your salary, by the time you are 30, you're never going to amount to a crap. YOu are making far too little, have WAY too high expenses and you don't know squat about investing. Fix those shortages, or you're condemned to horrors.

Listen as I was trying to tell BeTheChange, every guy just isn't going to be a millionaire and every guy isn't going to have major financial cushions. Our society isn't setup like that, it's setup for the majority of people to be working class or lower middle class, living paycheck to paycheck or NOT that far from it, without significant emergency resources in place.

Sometimes it's nothing that can be done about it. I'm fortunate that's not my situation, I'm in the Top 10% of men in the country in terms of finances, looks, and the entire package, but I've had some fortunate things happen to me and my IQ is a little higher than most.

You just can't expect EVERY GUY to be in the Top 10% financially.

 

[BeTheChange]

Listen as I was trying to tell BeTheChange, every guy just isn't going to be a millionaire and every guy isn't going to have major financial cushions. Our society isn't setup like that, it's setup for the majority of people to be working class or lower middle class, living paycheck to paycheck or NOT that far from it, without significant emergency resources in place.

Sometimes it's nothing that can be done about it. I'm fortunate that's not my situation, I'm in the Top 10% of men in the country in terms of finances, looks, and the entire package, but I've had some fortunate things happen to me and my IQ is a little higher than most.

You just can't expect EVERY GUY to be in the Top 10% financially.

Every guy is not set up to be a Don Juan and yet that should not deter anyone who wishes to be successful with women, thus the reason for this site. You are the anti-Pook and your entire philosophy and the majority of your posts on this site reek of self-defeatism.

Stop making excuses for yourself and others. .

 

[thatfeel]

What is "investing"? As far as I'm concerned the investment system is a tool the wealthy use to extract wealth from the system, nothing more. The misinformed have this perception that "smart people" can "win" at the stock market. The reality is it's nothing more than gambling which, ironically enough, you have a greater chance of succeeding at in a place like Vegas than you do on Wall Street. Diversified investments that rely on the growth of the overall economy do just as well as the "experts".

 

[Tenacity]

Every guy is not set up to be a Don Juan and yet that should not deter anyone who wishes to be successful with women, thus the reason for this site. You are the anti-Pook and your entire philosophy and the majority of your posts on this site reek of self-defeatism.

Stop making excuses for yourself and others. .

Apples to oranges my friend lol. How can you compare being efficient with women to being in the Top 10% of income/wealth?

To be efficient with women, you just need to work on your Looks, Personality and in terms of Finances, you don't have to be in the Top 10%, you just need to have your "shyt" in place in terms of having your own place, own car, and some type of consistent income coming in. This website and the Manosphere can ALL teach guys on how to be efficient in these areas to be efficient with women, spin plates, etc.

In other words, most guys can be efficient with women if they put in the "work" (as long as he doesn't have major glaring issues like disabilities for example), but most guys cannot just become a Millionaire by putting in "work", I keep trying to tell you that. Having a major amount of wealth has a lot to do with being networked in such a major way, not this shyt about "working hard". Most of the Top 1% do not work hard at all, they have networks and systems setup and get overrides on such systems.

For example, look at your personal situation. You are in I-Banking, people in I-Banking have a good shot at building up a major amount of wealth, but 99.9% of guys CANNOT get into I-Banking and don't have access to the Rolodex of people you have access to. But YET, you will get up here and preach down to guys saying they need to "set their goals higher" to become a Millionaire like you strive to become, when they lack the Network that you have.

Lol, dude, that makes no sense.

 

[dillj]

I"m the guy who's been a dope-dealer, machinegun and silencer maker, clearing 16k per week (in today's money). I'm 63 and I've watched 100's of people waste their lives by spending all their money on housing, utilities, cars, clothing, etc. they end up with nothing and never had any fun

 

[thatfeel]

I"m the guy who's been a dope-dealer, machinegun and silencer maker, clearing 16k per week (in today's money). I'm 63 and I've watched 100's of people waste their lives by spending all their money on housing, utilities, cars, clothing, etc. they end up with nothing and never had any fun

and the alternative is...?

 

[BeTheChange]

Apples to oranges my friend lol. How can you compare being efficient with women to being in the Top 10% of income/wealth?

To be efficient with women, you just need to work on your Looks, Personality and in terms of Finances, you don't have to be in the Top 10%, you just need to have your "shyt" in place in terms of having your own place, own car, and some type of consistent income coming in. This website and the Manosphere can ALL teach guys on how to be efficient in these areas to be efficient with women, spin plates, etc.

In other words, most guys can be efficient with women if they put in the "work" (as long as he doesn't have major glaring issues like disabilities for example), but most guys cannot just become a Millionaire by putting in "work", I keep trying to tell you that. Having a major amount of wealth has a lot to do with being networked in such a major way, not this shyt about "working hard". Most of the Top 1% do not work hard at all, they have networks and systems setup and get overrides on such systems.

For example, look at your personal situation. You are in I-Banking, people in I-Banking have a good shot at building up a major amount of wealth, but 99.9% of guys CANNOT get into I-Banking and don't have access to the Rolodex of people you have access to. But YET, you will get up here and preach down to guys saying they need to "set their goals higher" to become a Millionaire like you strive to become, when they lack the Network that you have.

Lol, dude, that makes no sense.

And the reason I can aim for jobs in I-Banking is precisely because I did the grind rather than using excuses ("Rolodex of connections") as you seem to be doing in this and many other threads.

It's a Saturday night and I have interview with a hedge fund for an equity analyst role on Monday so I am grinding, getting my stock picks ready and preparing for any potential curveballs.

If I don't get it will I blame society, women, bosses, the corporate world, global warming, monkeys, the price of sliver, my mom, my dad, my uncle. women again, the colour red, or any of the other massive amount of excuses you've probably used in your life?

No. I'll get up. Revise my strategy and try again. That's what winners do.

 

[Tenacity]

BeTheChange,

I think you might be misunderstanding me here. I'm not telling you not to go after your goals, what I'm telling you is that some people have access to higher/more quality networks to set certain "types" of goals that others can't.

You are interviewing for a Hedge Fund for an Equity Analyst role, which means you already have access to quality networks that 99.99% of us don't have (including myself). You are totally right, you need to spend ALL weekend making sure you ace this interview buddy so you can land that job! That's one hell of a position and if you can get in, dedicate man hours, and perform well....you are well on your way to your multi-million dollar goal. Because that's the world of I-Banking.

I wish I was more mature during my late teens-early 20's, so that I could have focused on connecting with the right people and the right networks to be recruited into that world. Because that's really the way into that field for the most part here in the US.

 

[PrettyBoyAJ]

And the reason I can aim for jobs in I-Banking is precisely because I did the grind rather than using excuses ("Rolodex of connections") as you seem to be doing in this and many other threads.

It's a Saturday night and I have interview with a hedge fund for an equity analyst role on Monday so I am grinding, getting my stock picks ready and preparing for any potential curveballs.

If I don't get it will I blame society, women, bosses, the corporate world, global warming, monkeys, the price of sliver, my mom, my dad, my uncle. women again, the colour red, or any of the other massive amount of excuses you've probably used in your life?

No. I'll get up. Revise my strategy and try again. That's what winners do.

Any advice on getting into that industry? Isn't the entry level salary for those types of job 200k+?

When I graduated college 3 years ago with a MBA I tried to get into investment banking but after a couple months I stopped looking. I felt like it was more about networking and looking for people with degrees for Yale and Stanford. I'd definitely still be interested in getting into investment banking.

 

[Tenacity]

BeTheChange,

I would like information similar to what AJ is requesting as well. I have an MBA with close to 9 years of Commercial Finance experience, but at 32 I was told that it was pretty much too late to get into that world (I-Banking).

You said that you hate my piker like goals, well, "help a brother out" and tell me how to get into I-Banking so I can modify my piker goals to multi-million dollar goals like you

 

[Bible_Belt]

Everyone has a bias of perspective. Imagine we all played a game, and then after it was over, we had a discussion about the fairness of the rules. The winners of the game are going to say 'of course the rules are fair, I won.' And the losers will say the opposite. Neither statement is necessarily true or untrue; they merely represent the bias of perspective.

 

[Tenacity]

BB,

I agree but I think we have to admit (no matter if we win or lose) that today's financial related procedures are screwed up.

- It's harder to open a business today due to increasing regulations, and it's harder to sustain a business today.

- Despite going to college and racking up tons of debt, as well as gaining "experience", you still can't get pass the corporate online application matrix where you are nothing but a number in a pile of 400 other people.

- Cost of living continues to soar

- It's harder to maintain a family today even with two incomes

- It's harder to maintain a family today due to women increasingly (and randomly) leaving you and starting expensive a.ss legal procedures that drain the little savings and little credit limits that a man does have.

- We are in a shifting economy where IT, Robotics and Globalization are continuing to squeeze out jobs. This does nothing but further squeezes out the middle class while keeping those in the Top 5% in power and more richer than ever before.

Our system is screwed up. It's why I get upset at people like BeTheChange who get up here talking about why everybody isn't shooting to make $10 million within 5 years. What world does this guy live in? Oh, I know, he works around the I-Banking world where it's very REALISTIC to make a shyt ton of money. But for the 99.999% of the rest of us that have no damn access to that world to amass that level of wealth, he calls us Pikers.

 

[BeTheChange]

As far as advice goes I can only really tell you how I walked my path despite many many setbacks.

I graduated from a uni that would probably be considered in the same category as a lower Ivy League school with a 2.5 GPA in my first degree, so completely messed up.

Note where I was here - will come back to this point.

I went back and did a masters at the same place and aced it. Managed to get myself onto a graduate program at one of the Big 4 Accounting firms doing audit work. I pushed for a transfer to one of the M&A divisions and with a bit of flexibility secured the role. I then later moved on to a boutique investment bank advising clients on transactions and raising finance.

While I was doing this I set up a separate business taking advantage of the skills I'd learnt in accounting, finance and business. Without giving too much away I can probably get away with withdraw a salary of around $50k in a good year.

Now I am currently interviewing for roles in other IBs and private equity houses / hedge funds. I'm not sure how much these roles pay but my current role pays around $90,000 (incl benefits) with a bonus of $30k - $50k or more depending on the company and individual's performance. So I could see total income of around $200k. Not bad for someone who flunked his degree and was unemployed out of college.

If I actually make it to the buy side I could certainly see a mil+ at some point in my career.

The point I make, and the reason I disagree with Tenacity, is that he likes to use "environment" and "circumstance" as an excuse. My argument is that environment and circumstances are a matter of perspective. .

When I flunked my degree I could very easily have given up on my dream and said:
- You practically FAILED in your degree
- You're unemployed with student loans to pay, going back to do a masters and getting into more debt is idiotic!
- Lower your expectation and settle for a job in sales/ entry level admin role, etc
- Work your way up and hope for the best

But I didn't compromise and neither should anyone else.

 

[Tenacity]

BeTheChange,

I'm very proud of you as you are only 26 and have achieved a lot. You are making in the Top 5% of individual income based on US measuring standards, not sure if you are in the US or not as from your other posts it appears as though you are in another country. But your story is basically the following:

- You were in an Ivy League School and graduated with a 2.5 GPA in undergrad.

- You went back and got a Master's at this same Ivy League

- You managed to get into a Big 4 Accounting Firm doing audit, then got promoted/transferred over to M&A in that same firm.

- You took that experience and network to land an I-Banking role at a boutique firm

- Now you are looking to move into either Hedge Funds or another I-B firm.

I just want you to understand that I have been saying, over and over, that most guys can't set the goals you have because we aren't apart of the network that you are apart of. You were in an Ivy League school and you graduated, went back for a Master's that I assume was an MBA, correct? While in the MBA program, did you get recruited into the Big 4 Accounting Firm?

The Ivy League and the Big 4 Accounting Firm, opens you up to these high quality networks allowing you to get into I-Banking, which is extremely lucrative. So lucrative that you can set goals to have multi-millions saved up within 10 years, hell, if you get into a solid position at an I-Banking firm you can clear $300,000 plus a year. If you manage your money properly and invest it, yeah, you are right at your goal.

What do you say for us guys who don't have access to these networks? Any advice for us other than calling us Pikers? Because I can't set a goal to get into Ivy League, that ship has sailed. I can't set a goal to get into Big 4 unless quite honestly, I get into Ivy League. And I can't set a goal to get into I-Banking unless quite frankly, I get into Ivy League.

 

[BeTheChange]

BeTheChange,

You're right in that I'm working in the UK. All the numbers I quoted were based on yesterday's exchange rates.

Honestly if I were in your situation I would keep focusing on the business. If you're business is growingl and you're clearing $100k a year that's great.

But the impression I'm getting is that maybe your business isn't doing as well as it was in the past at the moment thus your reason for job hunt.

That's the problem with sales generally, especially as a graduate - you mentioned you'd been doing it for 9 years so roughly around the time you graduated given your age. It can be quite alluring because barriers to entry are so low and you can make much more money than your peers working in entry level graduate roles, but overall I don't think it's worth it at all.

If you are looking round then I would think about getting your CPA and shooting for a Financial Controller type position, in an SME, with an outlook to eventually making CFO. Accounting is always going to be an in demand area and you're still young so taking the exams shouldn't be an issue.

 

[Tenacity]

The only issue with Accounting is that I have no direct Accounting experience. I do qualify to take the CPA Exam and can take it, as well as become licensed under the non-reporting rule. The issue is that I would be going on job interviews (which I have already been ranting about) with no Accounting experience at 32. The only positions I might get are starter bookkeeping roles if even that, working with 21 year olds and not hardly making anything from said position.

BeTheChange you are in a very great position right now that the vast majority of us are not in. You have the opportunity to make a serious amount of money.

I understand that you talk about your "challenges" in life, but to be honest with you, dude you were in an IVY League School. So what if you only got a 2.5, you were already in the right place with the right networks, all you had to do was take your career more seriously and that's what you did when you went back for the master's. Getting the master's and being associated with that network allowed you to be recruited into Big 4, now into I-Banking, and now most likely into Hedge Funds. That's a very lucrative road right there in front of you.

I don't have access to that man. It's why I got so ticked off with you and Guru talking about "pikers" without revealing the networks you guys have access to that we don't. You really THINK that if Tenacity had access to Ivy League degrees and networks that I would not have WENT AFTER the same shyt you are going after now? You really think that??

My life didn't even begin turning around until I was 24/25, which is the about age you are now. Before then I was broke, homeless, no car, staying from place to place, no career, no degrees, no life direction, nothing. It took me until my mid 20's to get serious about life and start making moves, that's why a lot of the "ships have sailed" when it comes to things like working in Accounting, making it to Big 4, making it into the I-Banking world, etc.

I'm pretty much stuck in sales roles or other financial analyst type of roles, neither or which are going to (consistently) bring in a shyt load of money year after year to where I can set a goal of having $10 million within 10 years or something. THAT'S WHY I set my $1 million goal, it's based on what I have access to, which is what I was trying to tell you and Guru before.

 

[hanni]

you need not be a millionaire to do well, folks. if you have 100k per year, gross income and a working wife, making, say, 50k per year and no kids, you can easily be investing 25% of your gross salary. That's going to take quite a while to make you a millionaire, but you're not going to be hurt by being off work for a year or so, which is pretty likely to happen to everyone in the US, at some point in their lives.

 

[hanni]

however, it takes making 14% gross return on investment, to average clearing 5% per year after inflation. You'll pay 4 of the 14 on taxes, and 5% inflation.