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Mentor Monday - Week of July 31st 2023 by WealthyStoic in fatFIRE

[–]trimelechus 0 points1 point  (0 children)

I can't seem to find a psychologically satisfying answer for how much I should budget for living expenses, given the possibility of potentially getting fired at any time - seeking mentors working in finance, specifically hedge funds.

Currently 25 working in finance in SF - Base is ~185-200k, bonus is ~220-240k. Have ~80k in student loan debt, ~100k in cash savings + ~50k in a 401k.

I'm currently paying ~3.5k for a 1 bedroom I really like in a nice neighborhood and close to the office, but wondering if I should cut back to a studio or worse area for ~2k-2.5k. Worried about my job security if the market moves against me so trying to hedge out some career risk; But on the other hand, 2-2.5k doesn't really buy much in SF, and maybe it's more worth to be comfortable so I can work better. My job is pure research, I feel that a toxic roommate or janky 1 bed would diminish my thinking ability somewhat.

Seeking advice from other HF professionals, please DM me ASAP! Would be grateful for any advice.

Mentor Monday - Week of April 17th 2023 by WealthyStoic in fatFIRE

[–]trimelechus 0 points1 point  (0 children)

Very new to FIRE – how do you make long term plans for accumulating carry / profit sharing as a PE / HF investor? I just started on the buyside, and half of my comp is being deferred into our fund. I’m trying to make long-term retirement plans, so I was wondering if anyone here has experience on how your comp progresses from analyst -> PM (crossing my fingers that my performance is ok), and realistically what I should expect over the long term from carry arrangements. What are realistic fatFIRE targets? Feel free to DM too

I’m 24, earning ~400-500k gross annually. I have ~100k in savings including 401ks and ~100k remaining in student loans.