Hi Yakers -
Somehow I knew that was coming...
- Single, 25 year old white male, hoping to stay that way for a while but I have a habit of getting in trouble with the opposite sex. Kidding aside, I would like to marry in a few years.
- I did investment management consulting for 2 years out of college (hedge funds, mutual funds, plan sponsors, state pensions, etc.).
- Joined a smaller financial software company about 6 months ago doing new product development; will probably go into investment banking next (within a year) for a 2 year rotation before going back to school full time (MBA and/or JD - depends on which schools accept me). Currently a CFA level 2 candidate.
- Combined assets (personal portfolio of stocks and a few options, 401k, IRA, company stock options, etc.) is at ~130k. ~17k is tied up in an escrow account for a new condo. purchase in the near north loop of Chicago (sadly, i-rate is a measly 2%ish). Looking to purchase a recent foreclosure from a bank as investment property as well. Long term I would like to deal with rental units, but I'm not there yet (parents did quite a bit with rental units). Lived at home after college, commuted 1.5 hours each way. Lied to co-workers that I had an apartment in the near 'burbs or else I'd never hear the end of it (or if my clients knew!). Mom and dad are never around, and I can handle the commute on a train and save a great deal of money by not renting in the 'hot spots' of the city where everyone I work with lives and plays. I'll admit it's a fun area, but you also live paycheck to paycheck due to eating out, bars and clubs, always something going on in the city and it costs money, etc.
- What would I rather do? Eh, be at the beach, sleep a little more than I do now, exercise more, travel for non-business purposes, not play with Excel as much as I do now, volunteer, be at the zoo, deal with humans other than colleagues and clients, etc., basically more of life and less of work, and less of the high consumption lifestyle that comes with working in finance (this has been the toughest part of my job - practically berated by colleagues for not going on lavish vacations, drinking with them on a regular basis, sub-designer clothing, etc. I don't want to deal with this my whole life and keep up with the Jones').
- Learned many things about money from my parents (blue collar immigrants from Europe who have done well for themselves), as well as college (business), and then from clients. Found this site a while back when searching on 'early retirement' in engines; great resource with a wealth of knowledge.
- Investing style: aggressive growth, primarily small cap and international/emerging markets. I'll forego intra-day/daily/weekly volatility for long term growth. Total portfolio returns YTD = 34.567 (should be more, but markets got hammered yesterday & today). I plan on a re-constitution in the near future and diversify some more, but I have been riding some great small caps and international stocks the last couple of years.
- My main concern with everything that I am doing is how my way of living has been transformed. In college, I was your 'average' kid. I worked, got good grades, etc., but partied, had fun, slept, etc., then when I accepted my job I turned into a workaholic. When I was in consulting I was doing an average of 70-80 hour weeks of just work, plus traveling, etc. My new role is more lax in terms of stress and hours, but IB, which I am looking into next, is not a playground either. I've come to like the fast paced, action-oriented job, albeit on the flipside I have lost sleep, social life, etc. So my original plan is to max savings and investings, then enjoy my life in my life in my 30s, 40s, 50s, 60s, and on. Ideally, I would like to teach for a paycheck (love working with people, and I love to talk, drop any knowledge which I am have - I find it similar to consulting in many ways but with less work and hours), have a family, investments, and maybe a business. I'm just afraid of getting used to the busy, busy, life.
