|

Net worth

Greenman72 wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

I just did a tax return for a girl who’s worth about $200 million, and she’s only 7.  

I knew those girl scout cookies were ripping us off..

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

Save 15% plus free shipping on Wiley 2017 and 2018 courses before August 31. Bite-Sized Lessons, Video Lectures, Mocks, & More.

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

$1.3 is not bad–how’d u do it bro, what’s your style?

haha dudeee!! i use mint too. since 2011. its so useful for tracking expenditures and ****, and seeing how much your net worth grows. 

AbrahamIsaac wrote:

i include home equity in my net worth and so does MINT!! I love looking at that number keep rising e’rday

I love my cheese. I got to have my cheddar.

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

Be yourself. The world worships the original.

infinitybenzo wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

He’s in the top 2% of households for that age group. That’s good no matter where you are.

cj4g wrote:

infinitybenzo wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

He’s in the top 2% of households for that age group. That’s good no matter where you are.

That’s why i said it is like driving a Corvette which is good but not to the point where he can brag about it espeically in “high finance” forum, AF, where most people work and live in highly populated cities in the world…..Don’t brag about your Corvette when there are R8s, Lambos, Porsches, AMGs, etc is all I am saying.

Be yourself. The world worships the original.

I’d say for a true finance community, $1 million is the low end when you are in your early 30s. You probably went to business school or took some years to do something else, and maybe you will make more later. It is important to realize that 30 something is still quite young with respect to asset accumulation. If you had a real front office job from college without interruption and have a decent lifestyle, you probably have about $2 million by age 30, and should have $4-5 million by age 35. If you are very lucky and went to a high upside hedge fund or PE place with good years, you might have meaningfully more. From what I have seen though, if you have $3 million in early 30s, you are in the better minority already.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

rofl i guess im pretty low end, but i dont mind. i prolly wont hit a million until 35.

I love my cheese. I got to have my cheddar.

infinitybenzo wrote:

cj4g wrote:

infinitybenzo wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

He’s in the top 2% of households for that age group. That’s good no matter where you are.

That’s why i said it is like driving a Corvette which is good but not to the point where he can brag about it espeically in “high finance” forum, AF, where most people work and live in highly populated cities in the world…..Don’t brag about your Corvette when there are R8s, Lambos, Porsches, AMGs, etc is all I am saying.

There are always people with more than you, that’s no reason to not be proud of what you’ve managed to accomplish. What a sad way to think.

Maybe you just read way too much into his comment. I hope so.

Nerdyblop wrote:

rofl i guess im pretty low end, but i dont mind. i prolly wont hit a million until 35.

I spent several years of my 20s enlisted in the Marine Corps. The best I can say about that in terms of net worth is at least it meant I never had to worry about student loans afterward.

ohai wrote:

I’d say for a true finance community, $1 million is the low end when you are in your early 30s. You probably went to business school or took some years to do something else, and maybe you will make more later. It is important to realize that 30 something is still quite young with respect to asset accumulation. If you had a real front office job from college without interruption and have a decent lifestyle, you probably have about $2 million by age 30, and should have $4-5 million by age 35. If you are very lucky and went to a high upside hedge fund or PE place with good years, you might have meaningfully more. From what I have seen though, if you have $3 million in early 30s, you are in the better minority already.

Interesting. The 30 year old may actually be in a better spot since they likely didn’t lose a lot in 2008. That wouldn’t matter to the 35 year old either if they stayed fully invested (and employed) through the crash, but that seems highly unlikely. 

Timing is everything. 

Timing matters a bit, I guess, but it’s not as important as just having the money early. Almost anything someone would have bought in 2007 has appreciated despite the crash. Also consider that the person who is 5 years senior would have had more to invest in 2008, 2009, etc. The 30 year old guy would have bought $20k of stock in 2009. So what? The 5y senior would be a VP and maybe bought $200k, $250k… he would capture more of the bull market gains. Similarly, the 35 year old would have had small bonuses pre crash, due to low seniority. So, he would not have lost that much in absolute terms.

In total, I’d guess that timing would have made, say $200k to $500k difference on the high end, which is not much overall.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

1st of thanks for serving

2nd of i too wanted to join the marines when i was in hs, but ended up not doing so.

3rd no student debt. i received money on top of free tuition and books for other ****.

cj4g wrote:

Nerdyblop wrote:

rofl i guess im pretty low end, but i dont mind. i prolly wont hit a million until 35.

I spent several years of my 20s enlisted in the Marine Corps. The best I can say about that in terms of net worth is at least it meant I never had to worry about student loans afterward.

I love my cheese. I got to have my cheddar.

ohai wrote:

Timing matters a bit, I guess, but it’s not as important as just having the money early. Almost anything someone would have bought in 2007 has appreciated despite the crash. Also consider that the person who is 5 years senior would have had more to invest in 2008, 2009, etc. The 30 year old guy would have bought $20k of stock in 2009. So what? The 5y senior would be a VP and maybe bought $200k, $250k… he would capture more of the bull market gains. Similarly, the 35 year old would have had small bonuses pre crash, due to low seniority. So, he would not have lost that much in absolute terms.

In total, I’d guess that timing would have made, say $200k to $500k difference on the high end, which is not much overall.

Hence my point about staying invested (and employed) through the crash. I know a lot of very smart people that went to cash in late ‘08 and stayed there for a few years. I read estimates that because of human behavior causing poor market timing decisions, many people set their retirement back 5-10 years. I’d like to think people working in finance know better, but in my experience people in finance only think they know better.

infinitybenzo wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

says the fund accountant scrounging for pennies in NYC 

surprise

"You want a quote? Haven’t I written enough already???"

RIP

AbrahamIsaac wrote:

infinitybenzo wrote:

AbrahamIsaac wrote:

im at 1.3 mm and Im 33. come at me bros.

At 33, that might be good if you are in Alaska or N. Dakota.  But anywhere else (ie LA, SF, Seattle, Miami, NYC, Houston) with actual civilized population with semi educated brains…is not that good.  It is okay but not to the point where you say “come at me bros.”  

This is like the guy divining a bright yellow 2002 Corvette thinking he is the sh**.  Trust me it is not bad but not that great.

says the fund accountant scrounging for pennies in NYC 

says the level 1 kid who failed this year thinking that cfa will get him out of his $10 a day delivery job lmao.  LIFO and FIFO all over kid

Be yourself. The world worships the original.

Yep, don’t mess with accountants!

Gone fishing...

i am in research for a hedge fund in nyc but sometimes I do wish i had an accounting background to have a deeper understanding when building pro forma statements and when going over 10K and 10Q.  After all, the annual and quarterly filings are done by the CFO and his minions.  Also, having accounting background will give you an edge when building pro forma for DCF because now, you don’t have to use past % of x or y and/or use an obscure estimate….

Like AbrahamIsaac, I too, used to put down accounting or other jobs when I landed my first finance job although I was merely an excel bi*chboy and PowerPoint hugging “research analyst” lmao.  Then slowly, I realized how nothing I was as I climbed up the ladder and that there was much much more to learn. 

AbrahamIsaac, I have posted in other threads and others have agreed with me - your reference of “fund accountants” which cover controllers and CFOs at hedge funds make on average 250k, and +700k, respectively.  No need to put down these jobs when clearly you are level 1 retaker for 2018 and probably fold clothes at local GAP store.

I hope you mature up for the sake of your career and the general intellectual and maturity level of our fellow CFA charterholder community and candidates.

Be yourself. The world worships the original.

Oh even worse. I bet you’re paid pennies per hour. Might as well get a gig at wal mart but keep putting in your time kid and pretending 1.3 mm is nothing 

oh LOL that’s what upset you?! all bent outta shape because of that?? hahaha

I said 1.3mm is nothing to boast about….If anyone had front office role at 22 and considering the market more than doubled during that period..1.3mm is really not that impressive…of course if you were folding clothes in WI then yea very impressive indeed.

1.3mm in early 30s in NYC?? that is chump change kid.  Upper lower class in manhattan. lmao now go back to your LIFO and FIFO!! go on scram boy!

Be yourself. The world worships the original.

I don’t live in NYC you little *****. What time you allowed to clock out of work today?

Wow that really backfired on you Stallion, huh?  Came in to puff your chest out and got absolutely rattled instead.  Lmao.

He did ask people to “come at him”. 

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

S2000magician wrote:

Greenman72 wrote:
AbrahamIsaac wrote:
im at 1.3 mm and Im 33. come at me bros.

I just did a tax return for a girl who’s worth about $200 million, and she’s only 7.

Apples and oranges: she’s probably not a charterholder nor a candidate.

How would you know?

82 > 87
Simple math.

This should be locked. 

Greenman72 wrote:

S2000magician wrote:

Greenman72 wrote:
AbrahamIsaac wrote:
im at 1.3 mm and Im 33. come at me bros.

I just did a tax return for a girl who’s worth about $200 million, and she’s only 7.

Apples and oranges: she’s probably not a charterholder nor a candidate.

How would you know?

dont you have to at least be in college to take Level I?

"You want a quote? Haven’t I written enough already???"

RIP

Can’t believe this little ***** tried to **** on me for being a paper millionaire. Only been in the game for 5 years and this desk jockey has the nerve to try to knock a man 

Calm down bro. 

Besides, could you tell me how you make 1.3m$ by the age of 33? (I wish I can make 0.3m$ by age 33  T_T   ). Are you trader?

I repeat: CFA is the abbreviation of my last name!

AbrahamIsaac wrote:

Can’t believe this little ***** tried to **** on me for being a paper millionaire. Only been in the game for 5 years and this desk jockey has the nerve to try to knock a man 

Still all bent outta shape there?? you did say “come at me” lmao

I’m saying 1.3mm at age 33 (think you said 33) is nothing to boast about especially if you have had high finance job since 22 years of age and in major metro area.  Look at NYC, SFO, LA, Miami, Chicago, Seattle…a decent 2 bedroom costs +$2mm…..Your 1.3mm aint gonna cut it.  Maybe settle with 1 bedroom or move out to the burbs which means you ain’t all that rich.

Maybe you are some client portfolio manager in northern CA or Georgia, then yeah 1.3mm is really good. 

Be yourself. The world worships the original.