After you graduate college within one year you should have multiple realizations. To help you jump ahead in the learning curve, or in other cases question your own decisions, here are twenty things you should realize after a single year of work experience.
This post will hit on a lot of hard truths. Our most popular post has been destroyed with emotional comments from regular people so we are doing an elongated version to flush out the smart from… well… the not so smart. The truth is rarely pleasant and takes a significant amount of emotional stability to accept. This is why 1/100 people are good people to know.
Four ways to attract girls: 1) looks, 2) social skills – “game”, 3) relative status and 4) money. That breaks it down quite well. Instead of arguing about which one is “more important” we are going to focus on money in this post. You should always work towards maximizing all of your four categories. However. We assume you are at the *median* in the other three categories (no competitive advantage when it comes to status, looks or game. Simply the median).
We’ve gotten some mail regarding our requirement for posting here. Which is a $1M+ net worth and at least 5 years of front office experience. For some, this seems “impossible”. But. The math simply doesn’t lie. If you’re 27 years old and you’ve made Vice President in a revenue generating role, you’re already making ~$500K per year
We have already beaten it into everyone’s heads. The only way to get *wealthy* is to start a Company. The only way to become well off is to go into Silicon Valley, Sales or Wall Street. The rest is non-sense. No performance, no money, no exceptions. With that horse beaten to death, lets see what you’re good at and determine which industry you should work in.
In our post on how to obtain consistent happiness we tried to touch on “how to think”. This is a broad topic and we only hit on a few items in the previous iteration. Given our interest in expanding our posts we’re going to try and give our *ideas* on how to improve your thinking process. Namely, through the application of logic.
The photo is a HUGE lie, the title a small lie. It *should* say the power of 2% but the headline title is better as is. Three things 1) how you can utilize the power of 1%, 2) why you don’t blog for money and 3) takeaways after ~3 years of blogging . They seem a bit unrelated but they are not. The power of 1%, or 2% in our case, refers to the total time commitment here. 3 hours per week maximum or 2% of a week (3hrs/168hrs in a week). In addition, the related point is why we don’t blog *for* money (will likely launch a product later at a terrible ROI) and why you shouldn’t either.
As stated in our previous post, we noted that most people reading this blog should focus on money. This means you need to generate revenue for a firm, obtain some equity or generate profit from *your* company. No other options. We’re going to outline a step by step process for the latter… Right here. Before we do that, however, we need to explain why no one will ever *teach* you to be rich. This includes us. We would never give away a 7 figure income. Will we help you start a career in investment banking for $150-250K a year? Sure. Hand over a real business opportunity? No.
This is really the end goal of the blog. Since we do not cater to the masses, we know that the remaining people have a shot at success. A balanced life is a healthy and happy one and we believe it is obtainable if you play the game of life looking at it from a long-term perspective. With this in mind… we’re going to break down a balanced life into sections. If you have no interest in a piece, do not read it.
The title says it all. Self doubt is normal. However. The need for motivation is for the unsuccessful. If you know someone who needs to be lifted up *emotionally* to achieve something… He never wanted it in the first place. He’s simply someone who wishes upon a star for the world to give him something he never deserved. Even worse? He thinks the emotional pump up is good for him.
In our year end blog review we explained that the best move on New Years Eve is to stay in. New Years Eve celebrations consist of nothing but the Junior Varsity crowd getting sloppy drunk at overpriced venues for $300 a head. It is a waste of time. This has been a consistent theme on this blog “do the opposite” and we’re going to go through a large number of examples below. From small to large.
This is the primary reason to avoid the mainstream media. The goal is to teach you to be poor. While most say they “wish they were rich” they harbor deep seeded negative beliefs about money. Call it Hocus Pocus if you wish. It is most certainly true.
After getting more and more comments about making money, breaking out of the middle class and generating passive income we decided to read a few popular personal finance blogs. The first step was realizing that most of these blogs encourage you to live a boring life by focusing on net worth instead of the much more important number, Adjusted Lifetime Spending.
We are unaware of a post that addresses the issues of the middle class mindset. We’re going to try and tackle this.
Everyone in their 20s wants to be rich (note: we’re defining “rich” as $1M+, Felix Dennis will disagree). Ask any male who is in the 20-29 year old age bracket and you’ll find becoming rich is the number one goal in their life 9/10 times. The reason why they won’t get rich is simply because they lack patience and believe they are smart. Here is the trick to becoming a millionaire by 30 (+/- a couple years for safety).
Everything is sales. That’s right, even if you’re reading this blog to eventually obtain a job on the buyside, at a top tier hedge fund… you must learn how to sell. Why? You need to sell your PM on the position you want to take. You need to sell your value to the firm. You need to sell your firm on your ability to take on more responsibility. You need to sell yourself to be hired in the first place. So if you’re reading this blog solely to position yourself for entrance on the buyside… This post still applies.
After you graduate college within one year you should have multiple realizations. To help you jump ahead in the learning curve, or in other cases question your own decisions, here are twenty things you should realize after a single year of work experience.
These days it seems that everyone is looking for set it and forget it ways to make income. The problem is that you either need 1) valuable information that is static or 2) a grip of cash. Every other income stream in the world is not static in the least bit. If you have to constantly update the item (this blog is a great example) then it is no longer passive as it requires time.
These days it seems that everyone is looking for set it and forget it ways to make income. The problem is that you either need 1) valuable information that is static or 2) a grip of cash. Every other income stream in the world is not static in the least bit. If you have to constantly update the item (this blog is a great example) then it is no longer passive as it requires time.
First of all congratulations. Chances are if you are reading this post you either obtained a position on Wall Street or you want to increase your income. This post is going to be quite long but if you can understand the message and execute we can practically guarantee you will see results. This is tailored to Analysts/Associates since most of our readers are at this level. Lets get started.
Many of our emails tend to come from MBAs and college students so we decided to compile a post of twenty rules that you should abide by in your twenties. Notably, we have each messed up on at least one of these rules in some form or another but if we could go back and become twenty again this is the blueprint. You can make tweaks to this list as you wish. In addition? You will likely make some of these mistakes even though you’ve been warned! That is simply part of life. Don’t beat yourself up too hard and good luck out there!
People often confuse the term minimalist with frugality, they are not the same. The difference between the two is relatively simply a minimalist chooses what he spends his money on while a frugal man is forced to live his current lifestyle. When it comes to life it is best to make efficient choices all the way down to where you stand in a bar to what kind of clothes you buy. Don’t let this be you. Unless you are rich you should begin with the following question “how can I efficiently maximize my results” that is how a minimalist thinks.
If you want to succeed in life you need to choose a good group of people to be part of your circle of friends (not friendzszs). Sometimes it is useful to know what kind of characters you should be avoiding so here are the most common losers you’ll meet.
When you are young or even old, you’re told a bunch of lies. Lets fix this.
You walk into a bar or a club. No one notices you. You walk around drunk in the middle of the day. No one bothers to stop you. You lose your job. No one searches for a new position for you. You lose a family member. The most you’ll get is the obligatory “I’m so sorry to hear that”
This article may sting for many people but needs to be written as many people have asked for a blueprint of sorts.