SERVING THE QUANTITATIVE FINANCE COMMUNITY

Gamal
Posts: 2362
Joined: February 26th, 2004, 8:41 am

### when is your first million

All the millions are going to the dogs.

Ultraviolet
Posts: 1655
Joined: August 15th, 2012, 9:46 am

### when is your first million

Since the question is about "making" the million, I second the hard work strategy, and I mean a really hard work, taking all offers, part times, without a rest (or free weekends), and being very wise with one's money (saving and investing), in order e.g. to buy own flat.Family money usually come with strings attached. Marrying rich is a good idea, or simply marrying - more than one salary goes to savings, which seems to be the quickest way to the million for a man in the street.I've heard of luck, but I've never seen one.

AnalyticalVega
Posts: 2260
Joined: January 16th, 2013, 5:03 am

### when is your first million

QuoteOriginally posted by: UltravioletSince the question is about "making" the million, I second the hard work strategy, and I mean a really hard work, taking all offers, part times, without a rest (or free weekends), and being very wise with one's money (saving and investing), in order e.g. to buy own flat.Family money usually come with strings attached. Marrying rich is a good idea, or simply marrying - more than one salary goes to savings, which seems to be the quickest way to the million for a man in the street.I've heard of luck, but I've never seen one.hmm, sounds like you are unlucky.
Last edited by AnalyticalVega on December 8th, 2013, 11:00 pm, edited 1 time in total.

AnalyticalVega
Posts: 2260
Joined: January 16th, 2013, 5:03 am

### when is your first million

QuoteOriginally posted by: traderjoe1976why is your goal $1 million? You cannot even get a decent condo in Manhattan for$1 million.I would start with a first goal of 20 million just to get above the poverty line. Once you make your first billion, people will start to notice you a little more.
Last edited by AnalyticalVega on December 8th, 2013, 11:00 pm, edited 1 time in total.

Ultraviolet
Posts: 1655
Joined: August 15th, 2012, 9:46 am

### when is your first million

QuoteOriginally posted by: AnalyticalVegaQuoteOriginally posted by: UltravioletSince the question is about "making" the million, I second the hard work strategy, and I mean a really hard work, taking all offers, part times, without a rest (or free weekends), and being very wise with one's money (saving and investing), in order e.g. to buy own flat.Family money usually come with strings attached. Marrying rich is a good idea, or simply marrying - more than one salary goes to savings, which seems to be the quickest way to the million for a man in the street.I've heard of luck, but I've never seen one.hmm, sounds like you are unlucky.I'd rather say I have my own definition of luck.

AnalyticalVega
Posts: 2260
Joined: January 16th, 2013, 5:03 am

### when is your first million

QuoteOriginally posted by: UltravioletQuoteOriginally posted by: AnalyticalVegaQuoteOriginally posted by: UltravioletSince the question is about "making" the million, I second the hard work strategy, and I mean a really hard work, taking all offers, part times, without a rest (or free weekends), and being very wise with one's money (saving and investing), in order e.g. to buy own flat.Family money usually come with strings attached. Marrying rich is a good idea, or simply marrying - more than one salary goes to savings, which seems to be the quickest way to the million for a man in the street.I've heard of luck, but I've never seen one.hmm, sounds like you are unlucky.I'd rather say I have my own definition of luck.actually, I like that..why have other people define your success? good for you!

neuroguy
Posts: 408
Joined: February 22nd, 2011, 4:07 pm

### when is your first million

QuoteOriginally posted by: GamalBy "work" I mean not only doing what your superiors ask you to do. You must work on your success all the possible ways. All the exacutives I know put all their efforts to keep the position they hold and to be potentially promoted - without weekends, without vacances.Hmmm... Not only does all work and no play make Jack a dull boy, but I am not sure that people who have millions are simply people who will work themselves to dust. You can work very hard and make someone else rich. You can be the person whom the people who don't want to work so hard can rely on to take up the slack.You have to be able to work hard when it is required. And i think its is required when something important has to happen, you have to show your ability to be trusted and you can help someone else who needs an initiative done. But please... all this no weekends and holidays stuff. Someone who is genuinely like that has got some serious issues and those who are in the business of promoting others would see that in a jiffy (not that that they would not think that person useful... I refer you to Joseph Stalin's apocryphal comment).Working constantly to set your own thing up is another matter. But among those who I know who have set up businesses, none spend literally all their time working. Sure, when necessary they can work a period of time flat out. But, if anything, more than other people they like to vary what they do with their time (this is a motivation for getting away from the strip-lit battery farm in the first place).

blueraincap
Topic Author
Posts: 80
Joined: February 21st, 2013, 3:04 pm

### when is your first million

QuoteOriginally posted by: traderjoe1976why is your goal $1 million? You cannot even get a decent condo in Manhattan for$1 million.because i wanna get out of the poverty line

QuantOrDie
Posts: 36
Joined: June 2nd, 2011, 2:23 am

### when is your first million

If you're working on wall st or in the City you should be able to save your first million (USD) within 10years (out of undergrad) or 6 years (out of a PhD). Anything less is just sad.

blueraincap
Topic Author
Posts: 80
Joined: February 21st, 2013, 3:04 pm

### when is your first million

can anyone confirm that

Gamal
Posts: 2362
Joined: February 26th, 2004, 8:41 am

### when is your first million

QuoteOriginally posted by: QuantOrDieIf you're working on wall st or in the City you should be able to save your first million (USD) within 10years (out of undergrad) or 6 years (out of a PhD). Anything less is just sad.In old good times - yes. Now it takes a bit longer.

blueraincap
Topic Author
Posts: 80
Joined: February 21st, 2013, 3:04 pm

### when is your first million

can someone provide an approximate distribution of age achieving the first mil?

ThinkDifferent
Posts: 659
Joined: March 14th, 2007, 1:09 pm

### when is your first million

QuoteOriginally posted by: QuantOrDieIf you're working on wall st or in the City you should be able to save your first million (USD) within 10years (out of undergrad) or 6 years (out of a PhD). Anything less is just sad.sad like ( or sad like ((((( ?

tagoma
Posts: 18362
Joined: February 21st, 2010, 12:58 pm

### when is your first million

QuoteOriginally posted by: QuantOrDieIf you're working on wall st or in the City you should be able to save your first million (USD) within 10years (out of undergrad) or 6 years (out of a PhD)Depends how often you go to the stripclub.
Last edited by tagoma on December 9th, 2013, 11:00 pm, edited 1 time in total.

ThinkDifferent
Posts: 659
Joined: March 14th, 2007, 1:09 pm

### when is your first million

depends how often your wife shops at Hermes, how often you shop at Berluti, and how much you pay for your kid's school.Working in risk like QuantOrDie can make you a million in 6 years only if you wear china made shoes, skip the breakfast, and and eat 5\$ sweet&sour chicken for lunch...
Last edited by ThinkDifferent on December 9th, 2013, 11:00 pm, edited 1 time in total.