If money was no issue, would you still continue with your career?

[de groz]

Just a question.

Let's say you won $10mil and being very conservative you put it into a savings account that paid say 5% per annum. That's $500k a year, for doing nothing.

If this happened to you, would you continue to work and/or study?

Think about it. What would it change in your life?

Would you say to hell with the career you've spent years studying and working your way up the ranks for? Or would you just think of it as a "bonus"? Would you go travel the world for a few years and maybe come back to your career when you got bored?

How much does your career revolve around money, and how much around passion?

[zhang_bob]

I would let my money work for me.

But if my career was something I loved I would do it whatever the pay. Getting payed is a compensation for something you do not want to do.

[distraction tactics]

It wouldn't change me much, at least in how I view life. I would still go ahead with my plans for school, but I'd do it breathing much easier.

I'm sure I wouldn't appreciate the added attention.

[dubbeltop]

nope i would be a nice house with a nice garden and spent the resr of my life looking happy at my lifestock of sheeps pigs and horsies.

[Ckyzxr]

Careers are for those who think your life's work holds some significant meaning. $500k/yr only means I don't have to be some corporation's bitch.

[Snowflake]

Careers are for those who think your life's work holds some significant meaning. $500k/yr only means I don't have to be some corporation's bitch.

Agreed.

[Xander]

I'd retire. Simple.
I only work to pay for that which I enjoy. To work when this is no longer a factor would be daft.
I think I'd have enough dogs to keep me preoccupied for a long time though.

[Dom]

Careers are for those who think your life's work holds some significant meaning. $500k/yr only means I don't have to be some corporation's bitch.

Dead right, though I may do some vol work, as that may actually have significant meaning to someone else. (by that I mean be of real use to someone else)

[de groz]

Careers are for those who think your life's work holds some significant meaning. $500k/yr only means I don't have to be some corporation's bitch.

I'm studying comp sci because since if I had a job, then working with computers is what I'd prefer to spend most of my time doing, I think. I don't care much about what impact my work has, but rather if I'm going to be happy doing it or not. I would still define that as a "career".

Speaking of which, I don't even know why I'm studying comp sci. Computers are a hobby of mine, yes, but I have no idea what I want for a "career". I don't think I'd be ultimately fulfilled in any job.

[eyebyte_atWork]

I would convert the work I do into more of an R & D type work. I would start my own software company creating engineering/scientific software. Like someone here said - the money would just free me from being someone's bitch - and provide the freedom to pursue what I like to do.IronicallY I think I would work more hours per week - not less.

[Biff_Loman]

Well, if I had $10 million, I wouldn't sock it away and live richly off the proceeds. I would use it.

I want to renovate houses for a living, but instead of doing that, I'd renovate much larger things. There's a businessman in my home town who is obsessed with fixing/rehabilitating old things. He has done very well for himself through this philosophy. A large boat (ship?) sank at the marina, so he had it raised and converted it into a restaurant. There was a beautiful old mill that was about to be demolished, but he rehabilitated the building, and eventually leased it to The Keg. There was an enormous and ugly paper factory that hadn't been used for years, and he demolished it to reveal that most of the factory was a steel addition that had been built around a striking 19th century stone building. That one's still for sale.

If I ever make the jump from petit bourgoisie to "big fish in a small pond," I'd want to emulate him!

Edit: I guess the question doesn't strictly apply to me, as I'm not interested in a career as such.

[geniusndisguise]

Do you know how much money you could turn 10 million dollars into if you're smart? I don't know if I'm smart but I would sure try. Just to be able to say I did.

Then I'd get bored and move to a secluded house with enough land for a couple english mastiffs. And I wouldn't even have a phone.

[Snowflake]

All it takes is to be "smart," huh? I didn't realize it was this simple!!

[Tybeas]

Well, that would get lots of the pressure away of course. I'd probably be screwing around more, taking less classes, and taking more time to enjoy life. I'd probably also travel a lot. Maybe I might even stop doing anything productive for a few years, travaling around the world and playing video games, but I know I'll be bored with doing nothing in the long term, so I would go back to my planned career, but with waaaay less stress. I'd probably start my own thing in that field too (which is somthing I want to do in the long run anyway).

But I'll still work cause I like what I study in and what I wanna do (I'm studying in finance and wanna work on the markets)... feels kind of a drug sometimes actually :huh:

[kuranes]

I wouldn't just become a jellyfish, but I would certainly give up being an employee, most likely, unless I already had a really interesting job. I'd probably want to get involved in appraising intellectual property once my initial celebration party finally cooled down. I would also lease an art gallery that I would pay someone to manage during the day. At night I would be there for the occasional get-togethers. I'd want to be involved in funding musicians I like. Maybe start some kind of an effort towards video of comedy and "new jack" talk show too.

[ApeTheDog]

No. I work to make money. Once I have money, there's no need to work anymore.

Sure, work can keep you busy - it keeps you active. Without working, the theory goes, you'll become depressed, alienated, less active, and so on.

However, there are other things one can do to stay busy. It doesn't have to be work - it can be something less repetitive. I'd focus on living - sucking the world up and trying to experience as much of it as i possibly could on my 500k annual allowance.

My initial plan would be to just jump ship, grab a suitcase, and tour the world indefinately until I'd seen enough. I want to see the himalaya's, lake victoria, the forbidden city, the trains of india - all the great unspoiled places of the world. (with the exception of 'the forbidden city' which is an enormous tourist trap, but worth it nevertheless i'd wager)

[de groz]

But I'll still work cause I like what I study in and what I wanna do (I'm studying in finance and wanna work on the markets)... feels kind of a drug sometimes actually :huh:

Surely then you know what's possible on "the markets"?

With discipline, learning, and some sacrifice, $10mil is only 5-10 years away starting with as little as $1k.

Even though Albert Einstein was making a sly remark about capitalism when he said 'the greatest mathematical discovery of all time is compound interest', it certainly is powerful.

[kafkaesque]

There is no way I would continue to be an employee.
I continually think about all the more engaging things I could be doing with my time rather than spending 40 hrs a week as a cog.
Painting, learn darkroom photography, study some foreign languages (with travel), watch ants fight with eachother, walk around aimlessly with my thoughts etc.

*edit*
It would only take about 30k per year for me to quit my job.

[Carebear]

Dead right, though I may do some vol work, as that may actually have significant meaning to someone else. (by that I mean be of real use to someone else)

Hehehe, surprise surprise, Moridin. :)
But then again, I'm guilty too, being NF and all that. I'd want to do something that actually might have significant meaning to someone else too.

The big diff between me with lots of money and me with no money, is probably that instead of becoming a full-time teacher (the "career" I'm heading towards now), I'd want to work as a stand-in teacher, only working when I felt like it, or a part-time teacher probably trying to work more with misfits than with normal teaching. I just cant help loving those small rebels without a clue.

The rest of the time I'd just do whatever I felt like, like travelling, gaming, reading, partying while trying to avoid the nihilist trap. (Which normally leaves me low on energy, depressed and cynical.) Or write boks. Or make movies. Things that I don't dare now because the chances of making any money from it are so slim.

However, living in slightly socialist Norway, the $ 500k a year would be eaten up almost completely by taxes, so I'd either have to make the money work for me through stocks, or live on the initial 10mill $, eating up the money. (However, 10mill $ should still last a lifetime if Ferraris don't come into the equation.)

[de groz]

The big diff between me with lots of money and me with no money, is probably that instead of becoming a full-time teacher (the "career" I'm heading towards now), I'd want to work as a stand-in teacher, only working when I felt like it, or a part-time teacher probably trying to work more with misfits than with normal teaching. I just cant help loving those small rebels without a clue.

I assume you're still studying, so do you think you'd keep the motivation to continue, knowing you could just leave and travel the world at any moment?


However, living in slightly socialist Norway, the $ 500k a year would be eaten up almost completely by taxes, so I'd either have to make the money work for me through stocks, or live on the initial 10mill $, eating up the money. (However, 10mill $ should still last a lifetime if Ferraris don't come into the equation.)

Sure. I didn't mean the $500k to be taken literally, but most people are generally conservative. Of course you could put it into a high-risk managed fund, or trade shares, forex, etc. Personally I'd probably split it up and use at least one portion of it for high-yield trades.

[Carebear]

I assume you're still studying, so do you think you'd keep the motivation to continue, knowing you could just leave and travel the world at any moment?

Yes, I'm still studying. And yes, I'd keep the motivation. My choices of subjects and path through education hasn't really been very money oriented or smart career moves thus far, it's the knowledge and broadened view of the world that drives me. (That, and of course the interesting and fun people I tend to meet at the university.) In fact the money would probably keep me studying even longer. Atm, I've only taken geography and history and flirted a bit with mathematics and social anthropology, but hadn't money been an issue, I'd stay in the university for years, studying psychology, more maths, biology, physics, psychology, religion, philosophy and litterature. And of course languages.

As for travelling, I'm already travelling the world even without huge amounts of money. Since january, I've been to both Denmark and Spain, and in august I'll go to Ghana for 3 weeks +. Actually, come to think of it... the not having many money is kind of a motivator. With huge amounts of money, I'd probably find travelling boring. It's like typing in a cheat code in a computer game. You loose all sense of achievement and get bored.



Sure. I didn't mean the $500k to be taken literally, but most people are generally conservative. Of course you could put it into a high-risk managed fund, or trade shares, forex, etc. Personally I'd probably split it up and use at least one portion of it for high-yield trades.

I'm allready trading stocks with the money I have. It's fun for a while, but at some point it starts feeling a bit like a chore (i.e. work) and looses part of the fun. Besides, if you've already cheated the game and have become filthy rich, what's the point of trying to get richer? You've already got a inconcievably large amount of money in the bank, inconcieveably + 1 doesn't really feel that different. I'd like to have enough money not to feel that the lack of money limited my options in the world, but even $50k a year would do that trick.

[Trystorp]

I would absolutely not continue working in my present career. I'd love to be independently wealthy. I have dozens of things I could fill my days up with and never, ever get bored. That's my main issue with the teaching I'm doing now (Grade 7-9) - I'm bored out of my tree.

[nottaprettygal]

I think I'd keep going to school and getting various degrees. But I'd probably just pay smart kids to write all of my papers if I didn't feel like it. Then I'd fulfill my lifelong dream of becoming a toll booth operator, and since I would be rich I could pick and choose certain people to pass through for free.

But when I got bored of that, it'd be back to doing nothing.

[kuranes]

Would you make those great chocolate chip cookies there?

[nottaprettygal]

Would you make those great chocolate chip cookies there?

In my toll booth? They'd probably taste a lot like all the loose change I'd be handling. It may not be safe.

[PsiKik]

I would start some kind of think-tank or institute and hire INTP's or any other suitable people to ponder over important issues, whatever they may be.
I would also start the much awaited INTP secret-society.

[Ivy]

I would quit the childcare and the freelancing, travel with my family for a year or so, and then come back and hire Mary Poppins and go back to school. Indefinitely. If I began itching for meaningful work to contribute to the world, I'd probably get a degree to that end and do it part time while I continued to go to school for whatever else I became interested in along the way.

[Ferrus]

I would use it to become a permanent student.

[de groz]

I would quit the childcare and the freelancing, travel with my family for a year or so, and then come back and hire Mary Poppins and go back to school. Indefinitely. If I began itching for meaningful work to contribute to the world, I'd probably get a degree to that end and do it part time while I continued to go to school for whatever else I became interested in along the way.

What would you study in school? Did you not complete school, or would it be just for interest's sake?

I dropped out in the last year, so I'm thinking of going back to do maths and a few other subjects I'm interested in that I never did, alongside uni part-time.

[Lori]

I'd spend part of the initial $10mil on either doing our current house up or by having a new one built. I would almost certainly quit my job. (I don't enjoy my current job at the moment)

I'd go back to Uni to do my masters.

I'd also like to travel around the world - not an organised tour just get on a plane and go somewhere i've never been before!

I would probably do some voluntry work as well. Same as Moridin, something that will make a difference to people.

[de groz]

As for travelling, I'm already travelling the world even without huge amounts of money. Since january, I've been to both Denmark and Spain, and in august I'll go to Ghana for 3 weeks +. Actually, come to think of it... the not having many money is kind of a motivator. With huge amounts of money, I'd probably find travelling boring. It's like typing in a cheat code in a computer game. You loose all sense of achievement and get bored.

I've never looked at it like that. But when I do travel, I don't think I'd find it enjoyable not knowing where my next meal is coming from. I'm not saying that was the case with you; but if I'm travelling, I don't want to be working.


I'm allready trading stocks with the money I have. It's fun for a while, but at some point it starts feeling a bit like a chore (i.e. work) and looses part of the fun. Besides, if you've already cheated the game and have become filthy rich, what's the point of trying to get richer?

A lot of trades I make 50% ROI within a few days. Imagine doing that with say $1mil - you've double your yearly income in a week, with little risk. I would certainly do it. If you have the (easily attainable) knowledge, why not? You don't have to spend it on yourself; you could use that knowledge and hence income to help others by donating.

[bergenski]

I'm so out of touch with reality I don't even recognize the significance of money...

[Ivy]

What would you study in school? Did you not complete school, or would it be just for interest's sake?

I dropped out in the last year, so I'm thinking of going back to do maths and a few other subjects I'm interested in that I never did, alongside uni part-time.

I got a Bachelors in English, and intended to go back for a Masters and eventually a PhD in English after a short hiatus. During my hiatus my husband and I conceived our first child and I've been doing the mom thing since. I do childcare in my home to help contribute to the family bottom line, and because I like kids and I'm good with them, but I would focus on myself and my own family if I didn't need that money. I've just started doing some freelance editing which brings in extra cash AND makes me feel great about using my noodle again, so I might keep doing that even if I didn't need the money.

If I won tons of cash and could go back to school now, I'm not sure what I would study. Probably just whatever I felt like-- I might take classes purely for interest for a few years before settling on another degree. I wouldn't feel any pressure to be on a particular track, I don't think.

[distraction tactics]

...

Ever read the comic strip Foxtrot? You are Andy Fox to a T.

[Ivy]

Ever read the comic strip Foxtrot? You are Andy Fox to a T.

I never have so I went and looked it up. http://en.wikipedia.org/wiki/FoxTrot#Andy
That's pretty funny-- right down to the health food nut/junk food junkie dichotomy, I'm her! :)

[panda]

If money was no issue, I would most certainly *not* continue working.

I would travel around the world, getting myself into crazy adventures (all while living it up to the max, of course).

[Lucy]

Absolutely, but then I'm doing a PhD, not really working.

I think if money was no issue, it'd just make everything simpler. Instead of having to get a job to pay for me to live and do what I want, and contribute to what I think is important, I would just do it. I could pay others to help me...

[Shimpei]

1. I would go for making my master's in economics (or sg business-related, like logistics)
2. I would continue taking lessons in piano (I gave it up many yrs ago)
3. I would go for improving my Russian.
4. I would like to translate literature too, so I think I'd go for it.
5. I would move into a bigger house and would be gardening a lot.
6. I would travel around Europe -- in winter South Europe, in summer Scandinavia.
7. I would buy a lot of books.
8. I would buy a nice house for my parents.

[Nadiar]

Learn to play guitar and bass, and buy a nice house.

Spend a couple months doing nothing but getting in great shape and learning to play.

Build a cabin in Minnesota, either on 'my' land next to St. Croix State Park, or maybe near Gooseberry Falls. When I say "cabin" I'm talking about something like Fallingwater =p

I'd have a massive library in my cabin.

I'd get a psychology degree so I could publish some books that have an important sounding name on them =)

Then I'd spend the rest of my life like a hermit, living in my awesome cabin, surfing the web, and reading my constant supply of books.

Somewhere in there I'd hope to find someone to help spend my money that would also enjoy the hermit lifestyle :p

[de groz]

Then I'd spend the rest of my life like a hermit, living in my awesome cabin, surfing the web, and reading my constant supply of books.

That sounds like my ideal lifestyle.

[coffeezombie]

No. I'd travel around the world and experience different cultures.

[Birdsnest]

If it really were no issue, maybe I'd quit if I found a good reason to. But I'd probably wait till I could collect on retirement funds anyway. If money were no issue, I'd try to purchase land, get a building permit, design a house, and get it built by contractors, then travel and buy things to put in the house, and move in. That would take about as long as I have to retire anyway. I'd probably try to stick it out.

[2hype]

I'd give my two weeks notice and quit. And I'd buy a house and land in the country and buy some sheep and a horse. Maybe a few cows too.

[earwax]

The corporate world would be but a memory of a bad dream.

I would pay off my house. Upgrade my recording studio. Go back to school and take whatever looked interesting. And travel.

[Dr. Haight]

What career?

[sbw]

I quit as soon as I could.

Scott

[AcidGoethe]

I would, too much fun.

[Fade2Black]

I would donate some money to a good charitable organization. Also, travel the world for two years and afterwards go to a graduate school. In addition, buy a nice house by the beach and take it easy.

[Nemesis]

I like having stuff to keep me busy. I would probably keep some kind of job, punctuated by long, numerous trips to Hawaii, Japan, Australia, Europe and Walt Disney World.

[mgb]

I would go back to school and get a Fine Arts degree. Probably a masters in that too.

While doing that I would be spending a lot of money. A house. Ferrari. Cabin at a ski resort. Trips everywhere. I'd also probably get about $200k-$300k in camera gear and an office and start up a little business. No sense not writing off all of those trips, school and the camera gear.

[bergenski]

I'd probably just keep travelling all over the world....actually, I would do whatever I wanted to do...probably as the thought came to me I would just go do it...

[Carebear]

I've never looked at it like that. But when I do travel, I don't think I'd find it enjoyable not knowing where my next meal is coming from. I'm not saying that was the case with you; but if I'm travelling, I don't want to be working.


Sure, you need enough money to buy accomodation, beer, food and bus/train/plane/ship. Having to worry about money is a mood killer. However, having to be smart to make your money last as long as possible and to get as much for each penny as possible etc, that's a challenge that'll make even the most boring city you visit more interesting.



A lot of trades I make 50% ROI within a few days. Imagine doing that with say $1mil - you've double your yearly income in a week, with little risk. I would certainly do it. If you have the (easily attainable) knowledge, why not? You don't have to spend it on yourself; you could use that knowledge and hence income to help others by donating.

Ah, yes, I'm starting to see your point. Still, I'd probably approach it as a interesting game, lose interest after a few months and either only do it half-heartedly or not at all from that point.

[25fd]

Oh man ... I don’t even know where to start. I have so many ideas. I would probably enjoy the most starting new companies then once they function leave them to SJ/SP to run them. I would most likely give back a lot to hand picked charities if not create one myself.

On de_groz’s post “With discipline, learning, and some sacrifice, $10mil is only 5-10 years away starting with as little as $1k.” I am actively working on that because I believe it is realistic and achievable. I started working on that 6 months ego after spending 11 months in a well-paid job. I thought once I have that job I’d be ok. Although, it is a fun job, and I save more than half I make I feel that this is not my calling. I am not working on my “mission” in life. Five million $ would buy me FREEDOM!

[TelecomClone]

If this happened to you, would you continue to work and/or study?No way in hell.



How much does your career revolve around money, and how much around passion?
Money only interests me insofar as it prevents me from being homeless. My 'career', then, is essentially force-driven by terror. It is merely an effort to stave off failure of that sort.





It's like typing in a cheat code in a computer game. You loose all sense of achievement and get bored.
Negative. I use cheats in computer games to fully explore them without being pressured by the system to perform repetitive, timewasting busytasks. I feel no sense of achievement whatsoever when playing with or without the cheats. Life too is somewhat analogous: like many computer games, modern life tends to be packed with arbitrarily constructed 'challenges' that are as irrationally conceived and boring as they are effective at draining the living shit out of what could otherwise be a rewarding experience.

So bring on the early ret1r3ment h4x.

[Nemesis]

I like having stuff to keep me busy. I would probably keep some kind of job, punctuated by long, numerous trips to Hawaii, Japan, Australia, Europe and Walt Disney World.
And bring all my friends with me.

[de groz]

I've been away for a while, but I was just reading some of the replies. Bare with me as I'm drunk, this might ramble.

It seems as though people could greatly benefit from money. Is it then safe to say that money is (at least one of) the foundations for a meaningful life?

Unlike say communism, the good thing about capitalism is having some medium to exchange for goods and services, rather than say your time. So since we live in a mostly capitalist society, I have come to the conclusion that obtaining money is the most important thing to allow living a life like some people here have described. Basically freedom, doing what you want to do, buying what you need/want to express yourself.

This truth is quite substantial to me. I often talk about money and finance, and people think it is quite shallow. But is it? Without money, you can't buy things that will allow you to get the most out of life.

I don't think it's greedy, either. Self-sacrifice or extreme altruism will not help the world in any way.

From here on in, I will devote all of my time to the obtaining of money. Having money in itself isn't my goal however, it's the freedoms it will bring.

[airjaw]

This is every INTP's dream.... having money so that we can do whatever the heck we want any time we want.

i'd most definitely quit, and either go back to school or travel.. whatever I felt like at the time.

I wanted to start my own business for the longest time, but now I finally realize why... not because i have a need to start businesses, but because I want to start it... and then have it grow nice and large and successful and then just live off the earnings and retire early.. like before 30...

unfortunlatey the P in me just keeps coming up with new business ideas and never actually follow through on anything.

[de groz]

This is every INTP's dream.... having money so that we can do whatever the heck we want any time we want.

i'd most definitely quit, and either go back to school or travel.. whatever I felt like at the time.

I wanted to start my own business for the longest time, but now I finally realize why... not because i have a need to start businesses, but because I want to start it... and then have it grow nice and large and successful and then just live off the earnings and retire early.. like before 30...

unfortunlatey the P in me just keeps coming up with new business ideas and never actually follow through on anything.

There's a business there waiting for you with a proven track record. It's called the stockmarket and is highly lucrative.

There's also global currency markets (forex).

I was like you regarding business, however I'm hopeless at finishing things, so that's why the above markets suit me fine.

In comparison to businesses, here are some more advantages:

* Stockmarket never changes, except for the two falls in 87 and 9/11
* No employees
* No customers
* No products
* Low administration/accounting
* Work from anywhere in the world, so long as you have net or phone

Meh I love it. Fuck a career for now. If I want one I'll pursue one after I've mastered the markets.

[airjaw]

are you a day trader?

stock broker??

[de groz]

are you a day trader?

stock broker??

Neither. My trades are usually with a 2-10 day view or (depending on the strategy) up to two months. So yes, I'm not really a buy low / sell high / longterm type person. I don't have time for that.

[sbw]

Neither. My trades are usually with a 2-10 day view or (depending on the strategy) up to two months. So yes, I'm not really a buy low / sell high / longterm type person. I don't have time for that.

how long have you been at it? how long since you've worked a conventional job?

Scott

[de groz]

I quit my job back in January. I've been returning 20% a month (average) for the last year. I spend some time on it because I enjoy it, but you don't have to. I certainly don't spend as much time as I would in a fulltime job (maybe a couple of hours a day). I've been making double what I was getting paid without having to leave my bedroom.

I'm obviously not spending all that I'm making though, so as it compounds it'll build up and make even more.

[rawr]

Neither. My trades are usually with a 2-10 day view or (depending on the strategy) up to two months. So yes, I'm not really a buy low / sell high / longterm type person. I don't have time for that.



So you swing trade. I want to do that so bad but i need to save up enough to start an account somewhere. What do you use?

[Hustler]

I quit my job back in January. I've been returning 20% a month (average) for the last year. I spend some time on it because I enjoy it, but you don't have to. I certainly don't spend as much time as I would in a fulltime job (maybe a couple of hours a day). I've been making double what I was getting paid without having to leave my bedroom.

You see? This is what I'm talking about when I talk about striking out on your own and finding your niche. All you working stiffs had better be taking notes.

Anyway, to answer to question in this thread: if I had a $10 million principle lying around which was generating $500,000 per year, I wouldn't do jack shit. In fact, I'd go beyond merely not working to employing a personal assistant to do all the annoying shit I don't want to do (talk on the phone, pay bills, handle the dry cleaning, pick up the remote to change the channel, see movies like "Poseidon," lift my hand off of my keyboard and move it to the mouse, etc.).

[R0b1N]

i'd keep intouch with what i do now in someway probably just take a more stand back approach than i do now and let other people do it.......Hold on i do that now.......

[attila_the_hunny]

Wiping ass and listening to old people bitch all day is not something I would continue doing.

[bergenski]

Wiping ass.

Wow, you'd stop wiping your own ass? That's pretty impressive! Who do you hire for that?

[attila_the_hunny]

Wow, you'd stop wiping your own ass? That's pretty impressive! Who do you hire for that?

Bitch, please. :rolleyes:

[Imen de Naars]

Of course, living without working and/or doing something valuable sends me directly into depression.

This said, I'd probably enjoy having time in order to find a job that would really suit me, and moreover having the time to attempt this goddamn cycling career.

[headfonez]

Just a question.

Let's say you won $10mil and being very conservative you put it into a savings account that paid say 5% per annum. That's $500k a year, for doing nothing.

If this happened to you, would you continue to work and/or study?

Think about it. What would it change in your life?

Would you say to hell with the career you've spent years studying and working your way up the ranks for? Or would you just think of it as a "bonus"? Would you go travel the world for a few years and maybe come back to your career when you got bored?

How much does your career revolve around money, and how much around passion?
I would still go in my career, a pimp

[de groz]

So you swing trade. I want to do that so bad but i need to save up enough to start an account somewhere. What do you use?

Cool, I didn't know there was a name for it. After some Googling, it seems I'm a "fulltime" swing trader. :) Just noticed there's a heap of books on the subject, so might get me some.

I didn't even save. I'm hopeless at saving. I got out a loan to start me off. If you have a fulltime job, you can do it too. :)

[Hustler]

I didn't even save. I'm hopeless at saving. I got out a loan to start me off. If you have a fulltime job, you can do it too. :)

Yes, you should start a new thread to share the details of your trading operation with us.

[de groz]

Yes, you should start a new thread to share the details of your trading operation with us.

My system is pretty basic. If I have a bullish view on a stock, I will either buy a call or do a strategy called the bull credit spread, where the stock only has to stay above a certain level to receive money. If I have a bearish view, I will buy a put.

If you want to do what I'm doing, do the following in this order...

- Research share options until you can explain what they are to someone else
- Learn how to read charts, ie. technical analysis
- Get some software and data feed subscription, something like Profit Source (not cheap though, but there's others)
- Start paper trading, start with a ficticious bank and see how you go after a few months
- If you suck at saving, get out a loan
- Sign up with a broker, either full service or online, up to you - I haven't used optionsxpress.com but they are one of not many that allow you to do the credit spread yourself

That's pretty much it. Never risk your whole bank at once. I split mine up into five parts, and I always make sure I have 40% not in the market. I also only ever trade 20% on a single trade, sometimes less. So max amount of trades I have at once is three, but usually I only have one or two. Sometimes I have none. I've already reached my target for this month with two weeks still to go, so if I trade, any profits I make will be a bonus. I don't need to trade though as I'm happy with that and you can't lose money while you're not in the market.

Psychology also important... You need to determine when you're going to enter and exit a trade. When I reach say 50% on a trade, I consider exiting, however if I still think the stock can keep moving in the intended direction, I'll hold on. Also make sure you have a stop loss. I set mine at 20% but don't always acknowledge it right when it hits. If I honestly think I made a mistake on a trade, I will, but I've only had to do it once. Basically don't make decisions based on fear and greed. Just look at the charts and numbers.

Hopefully that makes sense... been up for like 30 hours trying to get my sleeping patterns back to normal. <_<

[watercarrot]

W/ that money, I'd:
wouldn't pursue a "career."
but I would probably still want to do things for fun -- even those that others get paid to do.
including: scientific research (but for fun and excitement -- not for pay.)
Career = there's stress in it, and i don't think anyone would really do it for free.
Most jump into it, and realize that it's too late to change. they've invested in too much.

this is good point, it's what i've been questioning myself.

[composer]

Interesting old thread somebody brought up. I've been on both sides of this question, when I was younger the answer definitely would have been similar to others here; I would've taken the money and run. Now, at the young age of my early 40s, I have enough money to retire early. Not $10 million, but a goodly sum. Am I retired? No–after much soul-searching the answer is no way.

When I was younger I could never understand why people who have a lot of money such as doctors and CEOs didn't retire fantastically early, now I know why. While, especially as a young person, it may seem fantastic to live a life of leisure and idle consumption, the reality is the opposite. It's terrifically boring to be nonproductive and useless. Because you see a funny thing happens when you get a lot of money and the option of doing nothing–once the stress of not having enough money is removed then your real desires and needs become obvious.

Through a combination of things I acquired my nugget about five years ago. What that allowed me do is to take more risks and be more demanding at my job for what I want. I honestly gave myself the option of retiring early and doing something else, but I found that, surprise, what I was doing was pretty close to my ideal. Now, I maneuvered my job to be almost exactly what I want it to be. In the meantime I've also maneuvered my personal life and personal work to be what I wanted it to be. So I'm pretty happy with where I'm at, I'm still acquiring capital, and I got some nice little nests set up for myself at home and at work.

The other aspect of this is that I have a young son and I realize that I need to raise him in an environment where he sees me going to work. There are a lot of demands and expectations on him starting with homework and eventually that he will go to college, so I don't want to give him the message that he is to work but I can slack off.

I will “retire” early, at least from my present job. Probably at the age of 49, about five years from now. In the meantime though I'm taking the next five years to set up a private business for myself that I will transition to.

[qualia]

I'd take some time finding a career I really love and a place I did as well.

[Chunes]

I don't bother with a career even when money is an issue.

You better believe I would drop out of the rat race the moment I came into good money.

I don't understand the need for 'workload equality' as composer addressed earlier. People will always value money and time differently. No need to punish yourself or others for having different values. American society requires one giant commitment of time after another, it seems. I think most Americans are afraid of idle time because they are afraid of what others think about how they spend their time. It also doesn't help that most of us are raised to be participating in a billion sports and activities, not to mention school, which conditions us to waste huge swaths of time yet society deems you productive if you participate in it.

[composer]

I don't understand the need for 'workload equality' as composer addressed earlier.

Yup, you can't understand it until you actually have the option.

To be fair not all people are like this, some are happy living the life of idle consumption. Mainly SP's as far as I can tell though. Give us a ring when you get a few million and we'll see where you fall.

[Anonymous]

I'd abandon psychology and pursue cultural and biological anthropology instead, with the rest of my time spent studying languages. I'd definitely want some sort of job in the future, or at least work. Otherwise I'd just get bored and depressed.

[stuck]

I seem to actually work harder the more money I get, so if money weren't an issue I'd probably work 20 hour days until I had a billion strokes at once, exploding my face off.

[catalyst]

Other than relieve some stress, I can't think of a single goal that I would change were I to suddenly come into some money. Boring, but hey - I don't spend all this time thinking about life for nothing.

[Shai Gar]

My job's fun, but there's no way I'd keep working. I'd probably travel the world in my G650 and turn Australia into a superpower with me as an Ambassador-at-Large with ministerial powers and Diplomatic Immunity.

[Falcon]

I would certainly continue, because I think that it's important for your well-being to have an activity, objectives, tasks to undertake, problems to solve, and people to meet. I think that it does not necessarily have to be work as it is typically conceptualized, but any form of activity in which you are invested personally and in which you are creating added value or participating to social utility.

[Geminii]

I'd continue in a career I wanted, but I wouldn't see any reason to keep doing a job I hated.