Over on the Ask Us Anything section we’re starting to see the same questions come up. This post is going to address why the advice won’t change and how we can save time together.
1) How Do I improve my Diet? We have covered diet advice in a post. If you haven’t taken a look then go ahead and read the post. If you’re slogging 80 hours a week you need to be efficient and as we stated before, if you don’t want to read the post, here’s the basic outline:
Breakfast: Fruit + Protein. Worst case a protein shake in the AM and a banana/fruit bowl on your way to work
Lunch: If you have a high paying job, lunch is used to improve your political positioning so you always eat with people so suck up the $10-12 meals
Dinner: You can get $25+ from your company, do not waste it on unhealthy food. Most people will eat terribly which starts the downward spiral. There are hundreds of options online using seamless. If you don’t have to work late… then make your meal at home after your day is done.
By doing this you guarantee 2/3 of your main meals are healthy. Lunch may be hit or miss, but if you’re smart all 3 will be perfectly fine and you won’t break the bank.
2) What Bank do I Join? Again this question misses the point by a country mile. The question is, which bank will allow me to get promoted the fastest. If you have no idea which bank then go by the rule of thumb
Elite Boutique (Moelis, Qatalyst, Centerview, Evercore, Lazard, etc.)
Bulge Bracket (Goldman, Morgan Stanley, Citi, etc.)
Middle Market (Jefferies, Piper Jaffray, etc.)
No-Name Banks (simply make sure it is the same job function)
No, we will not get into a back and forth about “what exactly is E-Boutique versus not” it is up to you to make that decision but if you’ve done your due diligence the answer will be extremely obvious. If they pay above top bonuses at a bulge bracket… it’s an E-boutique. If it pays the same as a BB… it’s probably smarter to choose the BB.
After your very first job none of this matters at all anymore. From that point forward you choose the firm that is going to promote you the fastest. Think smart. It is about responsibility not prestige.
“F*** prestige get money”
Put that quote on your cubicle. People who obsess over prestige have never had a long career on Wall Street. Maximum of maybe 5 years. To put the nail in the coffin check out one of two blogs we recommend (we only recommend Danger and Play and Financial Samurai). Click on FS’s blog… notice something? He started at a top shop but his real money came in after getting promoted and generating a ton of revenue. **hint hint**
3) When Should I Work Out? Well do you even work out? If you’re under 30 years old and you don’t work out 6 days a week you’ve already lost in the first place. If you have been working out 6 days a week, you probably already have a healthy routine! See how that works? So the question is not when you should work out it is if you even work out in the first place. We got this question many times and the answer when pushed is exactly the same.
If you work on the East Coast you go to the gym first thing in the morning. If you work on the West Coast you go to the gym after work.
You can feel free to change this if you’re a morning person or a night owl but it really misses the point. The point is this:
“There is no science, there is simply consistency.”
Consistency is how you keep yourself honest. If you can make it to the gym every single day and lift correctly, you’re going to see gains.
4) What Do You Think About the Stock Market Levels? Always the same answer, do not care at all. You should not care if the S&P is at 1,700 or 2,000… simply dollar cost average into cheap ETFs such as VOO, SPY etc.
If you’re trying to beat the stock market and you only have a half million dollars or so in the bank, you’re wasting your time. $500K in the bank to invest is pretty much a waste of effort. It means if you beat the bench mark by call it 5% that is only $25K. You may as well go and chase real revenue in a business. $25K for 10+hours a week is only $48/hour… That is significantly worse than what you’re making on the job anyway.
If the economy collapses? It doesn’t matter again. Generally recessions last about a year so you simply sit around and take the extra cash that was on the sidelines and buy any time there is a large correction. Your cash was on the sidelines because you want to continue buying through the dips so you get lower entry prices. Maybe you lost your job for a few months. No big deal. You had cash on the side to keep buying and get your next position.
If the market goes up 20%? Great already exposed getting richer!
What if inflation goes “crazy”? Again already own assets… getting richer! Only poor people think inflation is a bad thing.
5) I Make $50K and I am X Years Old What Do I Do? Some tough love and inspiration at the same time. First why in the world did you do this to yourself? If you look around there is money everywhere. A weekend in a high cost city driving an Uber will net you $30+ an hour. That is an extremely low estimate and yet that gets you an extra $60K per year. Why is it an *extra* 60K per year? Well, if you’re not working at least 80 hours per week and you’re broke, you have no one to blame but yourself. Anyone who believes they should be rich working 40 hours a week is going to be in for a rude awakening.
If you attempt to come back with the “but i’m smart” argument, you’re going to get laughter on this side of the web. Why? If you were actually *smart but lazy* you wouldn’t be broke in the first place right? It is much smarter to control what you can control. Go ahead and start slogging those long hours because at some point everyone pays their dues.
Finally, to put the nail in the coffin on this one… If you believe that anything over 40 hours is “too much work” then how exactly are you going to catch up to someone better than you putting in more time? If Person A is working 60 hours a week making $100K per year and you’re working 40 hours a week making $50K… You’re already making significantly less than Person A on an “hourly basis” and there is no way you’re going to catch up by working less and learning less.
Get to the grind!
6) Does Money Attract Women? Yes. Anyone who says otherwise has never made a good amount of money. Here is a general guideline since the question is asked so frequently:
$50K or less: it will be a negative to your sex life because you are not making enough
$50K – $100K: in a regular city this will be perfectly fine, in a major city it is still a detriment to your sex life
$100K-$175K: in a regular city you’re doing well, in a major city it now has no negative or positive impacts to your sex life
$175-$250K: Positive impact to your sex life in practically every city
$250-500K: Significant positive, less because of your life but because of the value of your time. At this point you’re extremely busy, you’re traveling, you’re not available, these are traits that will make you incredibly attractive. It won’t be possible to fake these trips/traits.
$500K+: It is practically impossible to blow through this type of money with common sense and everything in the previous tier are truer.
$1M+: If you can make this income at any point in your life you’re set. Your life changes because all of your actions value your time and comfort. You fly business/first class and do not care. You live a life that is impossible to fake.
Given the range and scope of this blog, it is certainly possible to get to $250-500K (before mid 30′s of course). This is achievable for anyone who wants it. When you start pushing up on high 6 figures and 7 figure numbers, you’re going to have to do something special.
Finally, there is no need to bother asking people like us. You can check out James Altucher’s blog, a multi-millionaire, who comes to the same conclusion… money gets girls.
(Caveat: before all the guys who live on shoestring budgets come in, yes you still need some social skills. That is about it though. If you don’t have some sort of social disease you’re going to be perfectly fine if you ever obtain large amounts of money)
7) Can You Hire Me? No
8) Are You Writing a Book? Maybe, not enough page views as of today. Creating a book that will take a long amount of time. It is certainly not worth it for a 5 figure payoff.
9) Industry Overview on XXX Sector? Probably, these are for Wall Street folk and the blog is currently a ~50/50 split it seems. This means it’s likely but no promises.
10) Resume Reviews? Nope! Hate them.
11) Can You Redesign the Blog? 100% agree needs to be re-done, no time-table yet though.
2) I am XX years old What do i Do to break in? We also get this one far too many times here’s the general guideline. Unless you have something spectacular you are holding back, this is the backdrop.
Analyst: If you are 25 years old or younger, keep gunning for an entry level slot as an analyst. This means you pass CFA level 1 if you have absolutely no finance experience to prove you understand the basics and then you get straight to networking. If you’re at a non-target then read our post on how to network/recruit. Now if you are from a no name school, no work experience and low GPA. You have next to no shot and are better off going to get an MBA later in life. This is the truth. As a non-target or older candidate with no experience, you need to have something to bring to the table otherwise you will lose time and time again to 22 year old candidates with banking internships, top GPAs and a great school.
Associate: If you are 26-33 years old this is your second chance to break in. If you have nothing related to finance, probably best to get an MBA.
Vice President and Above: Likely 33+ years old and you’re making a switch from a revenue generating career. In this case you should already know if you’re well qualified. Generally speaking, if you’re in a sales role or run a product line at a firm and are paid $300K+… You’re likely a good fit (this is general as most people who are in this slot know if they have the skills to move to the sell-side or not)
There you have it, it will answer 99% of questions. If you’re young you simply network and spin your resume assuming you have some skills that are transferable. If you’re in your late 20s you’re likely better off with a top MBA.
Any advice on how to get a bartending gig while still in college/post-college? Thanks
Yeah the easiest way to get a bartending gig is as follows:
Networking.
Have never tried one of the bartender 2 week training courses so can’t comment, but hands down your best way into the industry is to become friends with the bartenders.
Don’t be one of the alcoholic clients, you want to establish rapport and then strike when someone is about to quit. Many people move in and out of those jobs unless it is a high end establishment.
Get good at making friends! 100000x more powerful in terms of landing a bartending job.
If you were to describe what is considered an “alpha male”, what are some of the characteristics?
1. Happy with his life.
2. Does not complain, see number 1 anyone who complains all day = has a terrible and boring life
3. Physically in great shape (health is more important than wealth)
4. Doesn’t have to work if he does not want to. Works for pleasure, everyone has a different ideal job
5. Doesn’t have problems with the opposite sex, see number 2
6. People in general want to be around him
7. Brings people up not down
That would comprise the top 7.
If I am interested in working for a firm that deals buys and sells companies in bankruptcy. Would I be more logical to pursue an accounting degree? Currently, I am an accounting major but due to tuition costs I decided to attended a school in my home city that is known for accounting. I realize that reaching Wall Street is highly unlikely. What division at a Big 4 would help me?
Work in financial restructuring for known Rx shops: HLHZ, Moelis (NYC), Blackstone, Lazard (Chicago). Will give you better experience dealing with distressed companies whether this may be on the creditor or debtor side. Have known others that came from non-targets to working at these shops.
Are those shops for a few years out of graduation? If so, what type of post-graduate work will look most attractive? How would an accountants role be in such shops? Thanks!
We approve RxBanker’s comment. Side note if you see this if you’re interested in contributing and legitimately work on Wall Street don’t be afraid to drop us a line…
Back to the point.
If you’re looking for accounting type jobs that will set you up for investment banking the best and easiest “sell” is generally **transactional services**. This work is quite similar to investment banking as you’re working on transaction based work.
With that said if you enjoy bankruptcy type work RxBanker nailed it. Go to a restructuring shop like houlihan, Blackstone etc.
Thanks, may consider writing after getting more experience. Will let you guys know. Very informative site.
Not to pester. I am assuming RxBanker is in the field currently. What kind of experience is necessary? Is IB necessary or would “transactional services” that WSP mentioned work? Just trying to figure out the best way to play my cards after graduation.
The main issue you are facing is perception and the job function.
Overall if an investment banker looks at your résumé and sees anything but transactional services in your résumé it will be very very very very hard to ever land an investment banking role.
Your ideal situation (if forced to go into accounting) is go into transactional services, run internal politics, and hopefully land a few deals that are restructuring/bankruptcy related.
If you choose a field outside transactional services you’re in for a Long and hard road to get interviews in investment banking. Not saying it is impossible but it is very very unlikely.
So TL-DR do everything in your power to land a sell side M&A job, otherwise if forced to go to accounting choose transactional services. The rest will unlikely get your foot in the door because your average banker will look at it say “what is this” and throw it away before you get to go through a phone interview. Remember, the first person to see your résumé is usually HR… Their knowledge is weak to say the least so transactional services can be spun the best.
Would you be willing to talk further? It would be much appreciated!
If you have private requests we usually require donations since it takes a large amount of time. Otherwise simply ask away here and we can leave short responses.
The blog is growing rapidly so while we would love to help everyone, time is becoming more limited.
I would be willing to make a donation for a more personal response.
Sure shoot us an email then, if we can’t help we’ll be honest and if we can we can work something out.
Hello WSPs. Do you guys recommend going out sober? Saw your post on solving alcohol confidence, and was curious whether there’s a purpose for alcohol/drugs if one can develop a strong personality and courage even when sober.
No one with true success/inner game/insert any phrase here… Needs alcohol.
Alcohol like any drug, is an enhancer. In this case alcohol reduces inhibitions and makes you less nervous “dulling the mind”.
So essentially, yes anyone with strong game can pick up with zero alcoholic drinks. It is simply a limiting belief to say you need it.
Finally, we are not saying all alcohol consumption is bad. It isn’t. If you worked hard for 3 years get a sick bonus and are feeling on top of the world. Feel free to kick back with some bubbly. The issue is many men lean on it like it is the reason why they get laid. That is a dangerous mindset, you should need anything.
As FT IBD analyst training is coming up in the next couple of months, wondering what shoul I expect, and what were your experiences like? What’s your take on hooking up with other analysts from your class but at different office locations?
1. Training is basically a big joke. You will have an accounting course, training the street (modeling) and maybe some excel training as well. Programs vary but basically 1) don’t fail any test or else you may get fired (they are easy), 2) expect a lot of team building stuff as well (useless all your immediate peers will stab you in the back in a heat beat), 3) pass your series X exams if you fail… Again they are incredibly easy so you would be fired as well.
2. Do not waste a single second at on hooking up with classmates. See above. They will throw you under the bus and try to get you fired in a blink of an eye. Instead just have a few drinks with the group and do your own thing, NYC is packed with women anyway. Money > women. Every single day.
Hi! I really enjoy reading your blog, learning about Game, working out, eating clean and actually approaching. However, my parents don’t agree with me. As I explain it to myself, they want me to be ‘average’. Whenever I try to go to night club, go to gym, go out – they stop me from doing that.
I know I can’t change them, but WSPB, how can I get that I want from life if they are dragging me down?
Needless to say, I am 15 years old. I am not financially independent, and it really annoys me ((
Ha. In a rare case your parents are correct. At 15 or in your teens you should focus on 1) getting amazing grades to attend a top school, 2) if you are athletic shoot for a sports scholarship and 3) read daily, read biographies of successful people and read about starting a business. Get your mind primed for success now versus later.
Don’t waste your time out late at night chasing skirts that young. Waste of your brain.
Hey!
Thanks for your advice – here and on Twitter.
Can you make a list “15 tips for 15 years old” or “18 tips for 18 years old”? Maybe do a TL;DR version here?
Also, You said young people need to read biographies and starting a business. Can you suggest some good books?
TL-DR for a teenager is this
1. Try to come up with business ideas by consistently reading
2. Do everything in your power to get a full ride scholarship to a Top of the line University. Top 25 in the USA should be the goal (or better).
3. Get into peak physical fitness while you are young
For books we are working on a post. It will be a mix of self improvement and entertainment though.
During your teenage years you should be maximizing the most important parts of life: 1) your brain and 2) your body/health.
How to be successful at high school? I feel that I can’t learn anything 🙁
How you would go about it, Playboys?
Based on reading your informative posts, there has been an underlying theme of not giving a fuck, and ignoring the haters/doubters.
1) How should I go on developing this ” not give a fuck” mindset when doing business, approaching women, or conducting life in general?
2) In your unbreakable confidence post, there seems to be a premise of developing confidence through overcoming adversity and knowing one has overcome much tougher issues before. How did the writers DURING* the issues, before they were finally able to overcome their own adversity?
Well you shouldn’t care about anyone who hates on you because it is a form if complaining
1) Worry breeds hate which breeds anger. So anyone trying to bring you down is factually a loser because they would not car elf you are successful if they were successful themselves.
2) not giving a fuck in business is certainly NOT true. Ou should care a LOT about your work ethic. Not giving a fuck relates to women, ie: why do you care about the opinion of someone you don’t know? You shouldn’t care one tiny bit. If it is a high end customer you better care a lot
3) This is a case by case deal. We are thinking about a post but the idea is that the more you have “failed” the less you care because you are desensitized to it. The only true failure is when you try something. Don’t succeed AND learn nothing from it. If you learn from a mistake you’re winning the game .
I’m a senior at a target school who landed an analyst position at a small no-name boutique firm. I think the reason I didn’t land a BB or MM position was due to a lack of networking. My goal is to make a lateral move to a BB or E-Boutique in the next 1-2 years. What should I be doing from now until then to set myself up for a lateral jump? How can I network with MDs at other banks while working at my current one?
We will have a post up this week on networking, it is related to hedge funds but 90% will apply to your situation.
Congrats on the job! Boutique is certainly a starting point.
You mentioned that worry brings hate which then brings anger. How would you go about not worrying when things seem like they are going wrong?
Easy one. Read our post on overcoming depression.
Most people have never actually had adversity in their lives so they make a mountain out of a mole hill. Most people get worried over things that literally dont matter such as 1) a girl turning you down, 2) a break up, 3) your professor scolding you etc. These are all non-worries and meaningless. If things like this are considered bad and problems.. said person has lived a life of utter privilege… We have stated before:
“If a fat feminist in flip flops can ruin your day, you’re either a loser or you’ve had no hurdles in your entire life”
Harsh but true. These meaningless events should not change your emotional state one bit.
Ask yourself “Am I going to die” chances are 9,999/10,000 nothing will happen. So continue grinding.
Thanks
Ok guys I’m a big fan of your website,knowledge and beliefs. Hear this out. A 50 plus year old guy comes to us gym rats and sees that we are fit,motivated and in decent shape. We are in our late twenties and early thirties. So he tells us hey I dont mean to bust your bubble guys but after you guys hit forty as a male it’s all over. Metabolism slows down,libido drops, you begin to lose muscle mass and your options with women decline. After 40 it’s all down hill so enjoy it now…Any thoughts or feedback?
This is slightly separate. If you are wealthy your options with women do NOT decline. That is a straight up myth and it sounds like you are receiving advice from a poor person.
Two other 50 plus guys say what’s up to me and touch my arms. They they say wow you must work out. You look swole. Enjoy it now in your thirties because after 50 you will develop a pot belly, breasts and flabby arms. Don’t take it personal. It’s called andropause/aging. You will be a skinny fat mofo and you will need pills to perform in the bedroom. Those instant erections and long stamina disappear. Any thoughts?
Two words: Jack LaLanne
I read that you mentioned to be d-bag and a beast in bed. Becoming a dbag it’s easy but how can an average guy become a beast in bed? Thanks…
Practice makes perfect.
Also there is no way average guy will succeed at anything, otherwise he would no longer be average anymore right?
Average = slow death. No one with aspirations to be average will benefit from this blog.
Hi WSPB,
Any advice on how to achieve fame? It seems like with fame comes admiration, which brings money and women. Any good books out there to enhance your personal branding etc?
Thanks!
Fame is bad.
You want to be rich first. None of our writers have any interest in ever becoming famous so we’re definitely not the best resource for that.
Great user name 😉
What would you describe “Game” as? Is it a set of techniques that a man can use to get laid? Or can you hold a normal conversation without trying to make the girl laugh or try and be funny, still get you laid?
Sure we have a post on this, please use the search function “what is game”
Also read our response to characteristics of an *alpha* a few above you.
I read the article that you mentioned. It merely breaks down Game into Social Circle game, Daygame, night game, etc. It makes no mention of what “Game” actually is. Is it a set of lines/techniques?
Game is basically your ability to control the emotions of a group.
When you break it down it really means this
“People want to be around you, be with you and be near you”. This is why being famous is powerful.
So game is anything that makes people want to spend time with you at all times. This includes:
1) looks, 2) money, 3) power, 4) charisma, 5) athleticism… etc.
Maybe the “alpha male” description above will answer your question? It should address it all.
You can either become a man of value or not. If you choose the former you’ll eventually have game.
Overall, anyone looking for a line for line rhyme for rhyme way to fix their sex life without addressing all of the other issues (physical fitness, bank roll, social circle etc.) should search elsewhere for information because we don’t cater to the “magic trick” crowd. These line for line type gurus miss the point of life entirely (opinion of course).
I am just out of college and have two offers on the table.
Offer A is a three month unpaid internship that will transition into a job. It’s on a major account of a marketing firm and I’d be working as part of a team.
Offer B is a job that is paid from the off. However, it requires doing marketing for a firm that has no marketing department so I’d be on my own, and I’d be thrown into the deep end and would have to figure out how to get this company press coverage very quickly. I’m worried that it’d be difficult and there would be little in the way of mentoring as there is no team around me.
The first offer will pay exactly the same as the second after the internship period, it’s just those first three months I’d have to go without being paid.
Do I take the first offer, with no money initially but the opportunity to be mentored and work as part of a team? Or do I take the second, where there is money from the off but I’d have to hit the ground running and potentially find it very tough?
You should probably find a better source of guidance in this case as we do not work in marketing and do not know the space.
We don’t give information/advice out on topics we do not know (it would be bad advice because if we haven’t done something we don’t have a right to an opinion)
If you forced us to make a decision the second one is better because you have more responsibility. Being part of a “team” and “team spirit” in general is for people who will never make a lot of money. No responsibility = no pay long-term. Take on the harder work.
Again in your shoes it would be best to find people in your profession on linked-in and try to find an outside mentor.
Appreciate the response. Knew you guys are reluctant to offer advice on topics outside of your remit but thought I’d give it a shot anyway as I wanted to hear your thoughts.
All the best.
Yep no worries. Advice based on non-experience isn’t advice it is a guess.
One thing that is true though, responsibility = higher pay. The less people working above you the better.
You mentioned in a previous comment something for curing pe. Something about stop urinating 3 to 7 times a day. Can you clarify and also can you describe the exercise and what it’s supposed to do?
Basically people start and stop urination in order to train their bodies to withhold ejaculation.
Overall, the truth is that practice (ie: actually having sex) is going to do much more for you than any regular exercise since you have to control your mental state more than anything.
Good luck!
Confused with a paradox here. Seems like the best way to approaching women is to pretend not to care. But if you already approached, wouldn’t that show you are already interested? How would that work?
My understanding of this situation, is to show interest, but also to show there are other options (who cares if they say no, there will be others).
No paradox at all. Whenever the phrase paradox comes up it means the person is over thinking.
1) Do not care refers to her initial reaction. If you go and say hello to someone and they head turn you or are a complete and utter A**hole… You should be emotionally unchanged. You did nothing wrong. Most people fear approaching because they are scared of being rejected, this is a nonsense fear and is useless at all times.
2) After you approach initially you should take note of any errors you make did you complement too early, did you get her to laugh, were you engaging? This is where you should care and become critical of your language abilities
You will find that the most attractive women you meet will occur as follows:
You approach them.
So TL-DR there are two separate concepts. If you care about the opinion of a stranger you’ve lost your mind. That needs to be nipped in the bud immediately. However, if you have zero approach anxiety then all you should care about is your own interactions and if you correctly said the right things at the right times.
I’m currently doing my high school degree in Germany and either want to study business administration or economics/econometrics. alternativly I could live a year abroad in to learn Japanese and than start studying. What would you recommend for IB? does the language knowledge help to get a job in IB? since I’m in Europe, what should I do if I want to work in the Wall Street?
The major question comes up a lot, it seems that people over think it.
Simply put if you want to work in finance… The best major is hands down (not even close) finance.
You can have other interests such as economics, Japanese, etc but at the end of the day your major is a flag. It states your interest. So choose the school that has an investment banking reputation (ie: banks recruit at the school) and major in finance.
Regarding Japanese, this will not help you. The only way it will help you is as follows 1) you want to work for Nomura securities in Japan 2) you want to work in Japan or you luckily land a Japanese interviewer (unlikely)
This is not meant to burst your bubble it is simply the truth (ie: how resumes are screened).
Finally, reach out to European bankers as our knowledge is for USA based recruiting.
Needs to be stressed, however, that the best major is finance (9 times out of 10). Only exceptions is if the school does not offer a finance major, then business is the next best option for you (with an emphasis on finance courses)
I’m admitted for economics/ econometrics in rotterdam and economics in amsterdam. However these are just the main subject’s I will study and I can major finance in all universities. The difference is that in amsterdam I will have a general economics year, followed by two years of my major (finance), while in economics/ econometrics I will have mathematic, programming, economics, finance courses and have 4 months for studying my major (finance). The course in rotterdam last 4 years, while the course in amsterdam last 3 years
(undergraduate courses usually last 3 years in europe; in rotterdam I would obtain 2 degrees: one in economics and one in econometrics) I’m not quite sure which one to take since both universities don’t have the best reputation in IB (I think the reputation of Rotterdam is better). However since I missed the application I can’t go to the universities in UK and would have to wait another year. Since I’m already 19 years old I’m worried that I will be to old if I wait another year before studying. Also I haven’t found a which offers an undergraduate course just in finance, but rather alot of business schools who mostly focus on management. I could also go to these.
What would you recommend?
A few things:
1. First and foremost find someone who is familiar with both of those schools/options. We are based in the USA
2. Based on the information you outlined, if you want to go into investment banking, you need to choose the school that has more recruiting options (sounds like Rotterdam based on your comments)
3. To confirm if the school is good, go to the career center. Find out what banks recruit at the school. If you don’t see a list of investment banks, it is not a good school to attend.
4. Focus less on what classes they offer and again focus on points 2 and 3… Do banks recruit there and if so what majors. Then you choose the major that typically gets accepted into the investment banking program.
Again needs to be reiterated, you should immediately contact a person who has familiarity with both schools. This way you will make the most informed + intelligent decision.
You mentioned about having $500K liquid cash in the bank by the time you are in your low to mid 30s. How about Net Worth? What should people be striving for in that category?
Maybe around a million is reasonable.
At the end of the day you’re really searching for cash flow though.
Ie: if you’re making $400K per year but only have $400K at 32, you’re fine. Similarly $1M in the bank and $200K a year and you’re doing great as well.
Set the bar as high as possible, build out mutiple streams of income and continue to grow in your 20s to really enjoy your 30s.
I’m in my late 20s, making $90K/year (working 35 hours/week), have a side gig that pays around $5K/year, have income from dividends and capital gains, currently teamed up with my MBA alumni to form a private equity firm in the next 3-5 years, drive a fuel efficient car, socialize/networking as much as possible, pick up as many as 5 girls every venue i go to (while never biting the bullet on being committed to them; 10 chicks on the rotation), en route to taking up juicing (recipes from Nutribullet), pushing myself to read 1 book/month, does 50 push ups/day, all positive thoughts and optimistic approach to life, and I wake up with a smile every morning cuz everyday, im one step closer to my goal to achieving financial freedom.
Awesome work! Sounds like the goal is to focus more on the cash flow since the rest is good to go.
Do you think going out and approaching girls sober in clubs is a good way to build “people skills”?
Absolutely.
Life is sales my friend.
I know that you mentioned postponing women and focusing on your career when you are young. And then focus on women later when you have your financial game together however later you might have the money but not the energy to juggle these women. Youth has no price. If you could juggle 15 women when you were 20 you won’t be able to do it when you are 50. You might barely be able to handle one. Imagine a 50 year old with a 20 year old? he won’t be able to keep up…any thoughts?
Yeah this is another BS lie that they try to sell you. Our writers have several (plural) friends who date women in their 20’s and are in their 40s/50s.
The key component is that all of them are well off, meaning they have a lot of free time to run game if they want to or don’t want to.
Not saying to neglect all social skills, think of it as a sliding scale. In your 20s you’re say 80% focused on cash 20% on women/social life etc. By your 40’s that ratio reverses.
what should a guy do to increase his sexual drive after years of working so much and postponing women over money?
We already answered that one in jest. 1) simply take viagra if needed when you’re older and 2) you just go for better looking women. Generally, if you’re healthy (in great shape continuously working out) you’re going to be fine in your 40s/50s we’ve seen it first hand.
Notably, you’re using the phrase postpone or other synonyms quite a bit. In reality, you can have a normal sex life in your 20s and still have a stellar career. If your game is good to above average going out once a week should give you more than enough contacts/relationships.
what do you think about young guys going out with older women and marrying them? you also have this trend of older women chasing young guys including teenagers. You always hear stories nowadays about these kids banging these good looking older teachers and the teachers become fixated with them. It seems like once women reach a certain age they tend to gravitate towards young men. I don’t know if it’s because young men are in their sexual prime while these females are in their sexual prime. Any thoughts? And thanks for everything.
No real opinion:
1) Never get legally married in the USA so this is a non-issue
2) Don’t have any interest in dating older women
Since it doesn’t impact your life, simply ignore it.
Thank you once again. You guys have mentioned before that kids are a walking liability. I know that there are no advantages to getting married unless it’s for money however what about guys with a child who never were married, never will get married but have one child?
That is entirely up to you to be honest.
How do you guys stay present and quiet your mind?
This is simply state control. We’ll have a general post on this in the future.
A good person to model yourself after is Bruce Lee (known more for martial arts) but an even better philosopher.
Will have a book recommendation this week with regards to Bruce.
Thanks for the response – very excited for this post.
How do you stay positive/happy while in a job you currently despise while trying to move elsewhere?
Well the best remedy in these situations is to make it logical.
What are your choices?
1) be unhappy knowing your boss sucks and despise doing the work. Results in you being unhappy.
2) realize you are going to have to do the work no matter what, focus all energy on finishing it and go back to looking for a new job. Results in you being more productive. (Note: don’t bother being an all star if you’re leaving soon, just turn it in on time and move on back to your job search).
If you need the paycheck you’re inbetween a rock and a hard spot for the time being.
Keep searching for a new job, but there is literally nothing you can do about the actions of another human being. This is equivalent to being mad when a baby pukes on your shoes… It’s irrational because you can’t prevent it from happening.
When in doubt, turn to logic.
Hello,
I am currently 21. Up until 18/19 I was doing well in School, but was shit with women. One day I was feeling lonely and burnt out and stumbled across game. After that I poured my energy into it and got many dates with different (and some beautiful) women. Over the course of the past year/year and a half my marks have regressed, but I started working out and approached women and done uncalibrated things in the social arena. I have gone from the blackness of depression to positivity; from anger at woman, to realizing that all my anger was hatred at myself failing in my life goals (getting low grades), then to love and respect of the femininity of women; I have gone through the death of my father, to confusion and fear; I have come full circle to the way I was before I discovered game and stopped focusing on my life goals.
At one point, a few years ago, I was into self improvement and achieving high grades but then I abandoned all of that and allowed myself to enter that state of darkness, depression and mediocrity. I am just coming back out of it, slowly. I also have had a problem of listening to my “friends” who tell me things like, “oh I barely study for tests, etc” and I inadvertently begin to listen to them and stop studying too, because I think they know better because they probably get higher marks then me — though I know this is wrong.
My question is, how do I prevent myself from regressing into the state that I talked about earlier? I want to move forward and not backward, how do I prevent my brain from fearing success and trying to sabotage itself?
Well it sounds like your friends are simply BSing you so you need new friends if they are telling you not to study and be lazy.
There is a phrase “you can take a horse to water but you can’t make it drink”. This applies in your case.
Ask yourself who you want to be. If you want to be an unsuccessful person you know the answer is to follow the herd and be lazy. If you want to be successful you know the answer is to work as hard as possible and find a mentor in the area you wish to enter.
You can’t teach effort. You either want it or you don’t. If you don’t want it that is fine but you better be certain.
Just read something you’ve probably already heard, apparently from a movie “The Answer Man”. Reminded me of you guys:
“Don’t take advice from someone you wouldn’t trade places with.”
Pretty simplified and agree. The truth is that there is rarely someone who has exactly what you want in life (fitness goals, money goals etc.). So what you do is pick out 2-4 things you want to be good at and find a mentor in each one.
If for example you want to make a lot of money, be a great soccer player as a hobby and do well with women well the answer is easy:
1. Find someone wealthy to mentor you on the money side
2. Find a great coach/player to guide your soccer skills
3. Find someone significantly worse off than you (less money less looks) who is still able to meet high quality women
If you take advice from someone who is your equal or lesser… You’re never going to improve and will likely get worse.
Thanks a lot.
I’m a senior in college who has landed an analyst position at a boutique bank despite a low GPA (3.3). I’d like to spend these last few months of college focusing on losing my v-card and strengthening social skills, but Im afraid that if I don’t max out my GPA while I can it will screw me over when I try to jump to private equity. If I obsess over academics and get a 4.0 this semester, my GPA will raise to about a 3.45 – 3.5 but I feel like it’s a lot of unnecessary work for such a small GPA boost. I’d much rather try and lose my v-card before graduation and maintain the 3.3. What do you guys think?
That is a tough one. It’s going to come down to your personal opinion of course here’s the suggestion on a glance.
If your bank has a high percentage placement into PE (IE: more than 50% end up landing PE jobs) and a high percentage of internal promotions then go ahead and focus on your social life
However… If your bank has a poor or near zero placement to the buyside and does not have a history of promoting their analysts to associates… Then you’re gonna have to get the GPA up since it does matter.
Generally cutoff is 3.5 as you know.
Well my bank actually has a high percentage of internal promotions, but a near zero placement to the buyside, so this sucks.
I guess my biggest fear is still being a virgin at 23 or 24 since I know work will consume my life for the next 2 – 3 years. Last thing I want to be is a Type A, but I feel like I’m already 2/3rds of the way there.
That’s a coinflip.
If you can get promoted to an Associate then it won’t be hard to sell yourself in PE interviews in year three because you state “I have an Associate offer on the table but want to do PE”
Purely an opinion, but in your shoes would do this. Take the easiest classes possible and get great grades and just focus on fixing your social life. You can even take the general courses at a community college and just add it to the GPA (no one is going to care about two community college classes being included in the cumulative GPA number). The final upside here is CC girls are significantly better looking than a top tier university.
Not sure why grades would drop in the last semester since the last semester/quarter usually means rudimentary general ed courses for credits.
TL-DR if forced to choose would say lose the card in that case. Know that under a 3.5 will be a legitimate ding in PE recruiting though.
if you had to choose between youth and riches or looks and riches which one would you choose and why?
Don’t mean to be rude but this is a meaningless question because you’re playing a “what if scenario” on something that will literally never happen. This is actually a bad way to think and program your brain because you are using brain cells to calculate situations that will literally never happen.
That said for fun it would be youth and money no question. You can never ever ever ever buy more time so it is the most valuable resource in the world.
Before the follow up occurs… Time > Health > Money > Everything else.
At an experienced hire level is it normal to still include a cover letter? Some of the smaller firms ask for it along with a resume on their website. I typically haven’t had to include a cover letter except when I was first out of school (5 years into career now).
On the flip side I was planning to simply track down the HR person on LinkedIn and reverse lookup the email address. A couple sentences introducing myself I thought would suffice in that case. Thoughts?
After a full year on the job you should never write a cover letter again. We even recommend practically ignoring it for out of college hires as well (use the search function for cover letter)
After making it onto the street this is how you get better jobs
1. Direct referral from internal contacts (MD/director etc.)
2. Direct referral from networking
3. Networking word of mouth résumé drops and head hunters
4. Linked in, the ladders and pure luck finding jobs on indeed/doostang
If you’re applying to obscure jobs online, 9/10 you’re going to be underpaid.
What type if bar do you recommend starting out in to condition yourself to roll solo? On a Friday.
Overall Saturday is a much easier night to pull. So would recommend moving the solo days to Saturday instead of Friday.
With that said the best move is to go to your comfort zone in this case.
You’re already exiting your comfort zone if it is your first time rolling solo. With that in mind choose the venue where you will feel most comfortable. If you’re a bar guy, find a new bar to go to. If you’re a dance floor guy, find a new club to go to etc.
Congrats on the first step, you won’t go back. You’ll quickly find out that your wingmen were holding you back the whole time.
Thanks. Any logic behind Saturday being the better pull day?
Experience. You should ask around and also take your own notes, you’ll find this to be true.
(Note: this is for the USA)
Taxes are the number one expense here in America. Any tips on how salaried employees can keep most of their high salaries legally? The more money I make the more uncle Sam takes. I want to keep increasing my salary but I also want to keep most of it too.
If you do your own taxes (you should) unless you own a business there are next to no ways to legally lower your tax bill.
Generally most people forget deductions:
1. Education Expense
2. Travel/moving expense etc.
At the end of the day if you’re relying on a salary to increase your net worth you are not going to win that game.
Simply put, the truth is that if you are a W2 employee you can’t do much to lower your tax bill. Instead, you should find a way to start a company sooner rather than later.
do you guys follow the 5 to 6 meals a day very high protein mantra to accompany your workouts?
We did a post on basic diet advice, our opinion is based on Wall Street type jobs though. We cannot comment on routines outside of Wall Street since we have no experience.
http://wallstreetplayboys.com/a-working-mans-diet/
Hi. I’ve been on a demo account placing trades that aren’t using huge amounts of leverage… a little, but not enough to suddenly blow my account… and I have stops in place to prevent any nuclear situation. Basically I’ve just taken an instinctual approach, looked at blatant technical trends that have been persevering for around 1-3 weeks, then I simply buy or sell accordingly and get out once I hit my take-profit or stop.
Well since taking this strategy I’ve been making strong returns each week… but it doesn’t add up. I’ve been doing this only a month, but it seems “too easy” and so I guess I’m asking you to persuade me not to deposit real money. I mean, I’m technically blowing the returns of top hedge funds out of the water and honestly think I could maintain at least half these returns for a year. Granted it’s easier to make money with less assets under management, but it doesn’t make sense, I’m skeptical. It’s just so tempting to put in a bit of cash, make some nice returns, then get out and let it sit… but then it’d probably be too tempting to go back in…
Thanks.
The truth is that none of your returns are real. You are trading fake money so you have no emotional attachment and no real losses or gains. So as it stands you still have no experience at all.
Until you actually use money you’ve never traded in your life.
We suggest you take a look at this post: http://wallstreetplayboys.com/investing-priorities/
If you’re financially independent (don’t have to work at all for a living) then feel free to do as you please. All that said we don’t recommend your strategy but that is an opinion (and absolutely not any legal or financial advice).
For two years all I wanted was to get in IB. Last year, I did a summer analyst position with a top tier bank in my country. The catch is that I hated every minute of it and my performance was below par. I have no idea what I want to do with my life now. I have major senioritis as well and all I want to do is travel and “find myself”.
Help?
A few things:
1. You realized the job is not easy nor fun (at least at the entry level) this pretty much applies to all Wall Street positions
2. More importantly… What are your other options? If your other option is to backpack and “see the world” you’re making the worst decision of your life by wanting to do that. You’re leaving hundreds of thousands of dollars on the table. Even a mediocre investment banking analyst makes $120K+
3. Senioritis is only acceptable if you have your career locked in for graduation, again this would be a major mis-step otherwise.
Simply put it sounds like you had a rude awakening with your first real wall street experience. This is normal and you should keep your emotions in check.
If you decide to ruin your career, your 30s and 40s are going to be extremely painful. A backpacking 20 year old is cool, the same guy living in a hostel at 30 or 40… is not.
I know how privileged I am to have this opportunity and although I do want to travel and “see the world”, I understand deep down that it would be stupid to throw it all away. Definitely a slap in the face with regards to having my first “real world / Wall Street” experience and I think you’re correct in implying that I’m overreacting.
I have one more internship period. Would it be better to try a different role? Say S&T or AM even Consulting? Or should I just do another IB internship with a different bank (group fit was one issue why I hated the job)? I think with last years stint on my resume, I can have my pick of the litter for the next one.
Lastly, given the following constraints, where would you travel to?
1. One week time frame
2. You want to destroy your current beliefs / cultural compass
3. Meet new people and have fun
4. See a cultural landmark
5. Travelling solo
It depends on what your goals are. If you primarily want to do transactional work (IE: Private Equity in the future) you should go back and do another IBD internship at a different bank in a different group. If you absolutely hated the transaction work, maybe you can try something more market based (sales and trading, hedge funds, AM, research etc.)
Do not do consulting. That is a dead end career/job where you will unlikely clear $200K until you’re well into your 30s. Not worth it. The joke for consulting is your pay and hours increase at the same rate, IE even if you make more money you travel more and are forced to work more hours.
Thailand is always good for a quick trip.
What do you think of:
a) Never marrying AND not getting into a lifetime relationship (with a “soul mate”), i.e. staying single to death.
b) Never having children in your life.
a) this is up to you. We simply don’t recommend ever signing a marriage contract particularly in the USA since it is of no value. Adding government intervention is never a good idea.
b) this is also again up to you, people change over long periods of time
Assuming you don’t want a life time relationship and don’t want kids, see no problems here.
What tips do you guys have to defeat procrastination and up your productivity?
There is a saying “80 percent of life is showing up” – Woody Allen
The solution is to literally do something, anything. Go to the gym and you’ll get more energy for other items. The trick is to be active.
Finally, you should write down a daily to do list and check them off every day.
How would you handle here:
In an ops entry level program with very senior HR connect (met her through a personal connect) who took 30 mins of her time to meet with me. Desire to move into IB. Chances of converting into something good?
Good news and bad news on this one.
Good news is she can get you an interview
Bad news is no one cares about her opinion because she is just an HR person
What this means is that she can help get you a round one interview, but after that she has practically no say in the hiring process. She won’t be working with you so she won’t be part of the yes/no process.
what kind of conversational topics/questions do you use during night game?
thanks!
We have covered this in many ways through the blog but essentially it boils down as follows:
1. Topics that are fun/exciting (traveling/adventure stories)
2. Things girls talk about (ie: social observations)
3. No go on the following (music they like, work, school) anything logical or in girl terms boring… Is going to blow you out in seconds
If you have those working for you the difference maker is going to be your vibe. Are you fun and interesting to be around? If so you’re good to go, if not you should spend more time getting out of your comfort zone so you become a much more interesting person.
That’s the name of the game.
Have you guys heard of deer exercises? Deer exercises are anal contractions. In the eastern part of the world, men would perform these exercises and they would say that these exercises would strengthen the whole reproductive organs such as the prostate, etc and it would increase sexual stamina for a long time and prevent impotence, etc.
Nope, never heard of it.
If you hang around only with people who are better than you, which is obviously a great idea, aren’t those other guys by definition hanging around with someone worse than them (you)?
This is being taken to the extreme. The idea is more like this:
Game, fashion, money (career), sports … etc.
You should be better than the other person at something. A mutually beneficial relationship.
If someone is better than you at literally everything… Then the person better be a good decade older than you and is acting as a mentor.
Hoping you can shed some light on the following:
I’m 18 years old, final year before I go to college (university). There are basically two primary voices of advice that I feel us teenagers are taught. On one side, the growing internet presence of pleasure-seekers, those that encourage you to ditch the system and go and travel and do whatever you love. On the other hand there are those that tell you to work hard and support the system.
I go through phases of each. One period of time I will hate the entire educational/ working system and hope to just leave and start a random business and just sit outside and drink wine everyday. But after a while I begin to realize that thoughts like that make me lazy… And I focus less because ai have a ‘don’t care’ attitude. So then I go to the other extreme where I focus like hell and I hate sitting there wasting time and I can’t imagine a life where I’m not always busy as hell because otherwise I’d be bored. And I feel like the optimum state would be a mixture of the two but I am struggling to know where. I think a good work attitude is important and healthy but at the same time I think some time to appreciate life is necessary, I just pray it doesn’t make me lazy.
Please share what you think of this and if you understand/ have seen this recent trend of mindless hedonism with no concern of hard work.
This entirely depends on what your options are. There is a weird trend where people believe college is entirely worthless and this is false.
The truth is that you’re stifled by the lack of creativity in a school environment so here is the suggestion:
1) get into a top tier school, not a second rate one otherwise you’re wasting your money
2) work down the path of a reasonable paying career (Wall Street, Engineering, etc.)
3) in the mean time develop niche knowledge in a topic you enjoy to start a side business
4) continue having fun a few days a week (don’t become a person with zero social skills)
All four of these steps are easily achievable if you are young because you have an incredible amount of energy. As you get older your energy level will come down dramatically so you want to have the right skills earlier than later.
Achieving balance when young is incredibly easy because you have the energy to work on hundreds of things at the same time. As an example feel free to party as much as you like during spring break in college, but don’t take a gap year to find yourself (all you will find is an empty wallet and no work way to find income besides teaching English).
Thanks.
Too late re:gap year. Have had to take a gap year for variety of reasons- can’t change this now.
Will be applying Oxford and London School Economics for after gap year (I’m in England, appreciate you might not be aware of our system but you will appreciate this are top tier)
You might be against it but lets work with what we’ve got: need to work out what to do on gap year. Internships in IB are virtually non-existent. Considered approaching some founders of startups to internship with them during my year off? Any other suggestions?
How worthwhile would going directly to some big CEOs and being direct and asking for opportunities. Want a valuable year off to work and make $. Can’t stand being bored everyday- happy to work 60+ hours/ week.
Not taking gap year to ‘find myself’ as I think I have.
Can you help clarify this? We do not know the system there very well so if you can obtain an internship during this gap year then you’d be making a good move in terms of your career.
Essentially don’t spend a full year “backpacking around the globe”
Internships in any IB related firm basically do not exist.
What’s your reasoning for advising against backpacking around world? Don’t intend on it but interested to hear some valued reasons
This is a layup.
If you spend a full year after graduation to go see the world you’re now a full year behind everyone.
You 1) obtain no tangible skills, 2) employers will no longer care about your resume – USA centric and 3) the contacts you make will 9/10 be unsuccessful people who live out of hostels.
No one is going to be as blunt as this but that is how the world works.
Now if you take a year off to go and learn a tangible skill/business at the same time that can be of value.
Trying to find yourself just means immature and unable to make decisions.
Would certainly appreciate your input on the following:
I have 5 years work experience in a third world country in Central America. I did consulting at the nation’s largest commercial bank for 2.5 years, and have 2.5 years of investment banking experience at a boutique local firm. I will head to Duke for an MBA this August with the goal of securing a position in Investment Banking or Sales & Trading at a major investment bank.
My concern is that GMAT score is not that high, 670, which is why I wanted to ask if major firms on Wall Street require 700+ GMAT scores from students applying for Investment Banking or Sales & Trading positions. I would appreciate your input on this matter.
Overall no one has a perfect resume, with 5 years of relevant experience + doing good work at Duke you should be perfectly fine.
You may miss out on the top top positions (IE: GS/MS etc.) but it shouldn’t hinder you from at least getting your foot in the door.
Just remember that it will likely come up in the interview so you’ll have to spin it and shine the light on your better/more experienced resume.
Your argument on avoiding marriage (especially without a rock-solid prenup) is bulletproof. However, what are your thoughts on long-term girlfriends?
I’m currently dating a woman who I am insanely attracted to and have been for almost a year now (typically I move on after 4-6 weeks). We share mutual hobbies (playing music, travelling and sex), the sex is the best I’ve ever had, we can talk and laugh for hours on end and neither of us wants kids. We are growing rather attached to each other and this is causing some fear since its all very new for me. On a side note, she makes decent income and has a very stable career but I do make twice what she does and this will probably grow to 4 times what she makes, in 5+ years.
So, any thoughts on relationships that may have all the apparatus of a marriage, such as living together supportiveness etc, without the legal and financial bindings?
Having a girlfriend is fine just make sure you don’t walk down the slippery slope of stagnation. We all know that guy who gets pulled away by a girl and slowly loses everything 1) gains weight, 2) no longer socially skilled, 3) unhealthy, 4) career starts to stagnate and 5) unable to talk to attractive women etc.
If you’re in a healthy relationship you should hold yourself to an even higher standard than before. Why? This way you’re forced to improve.
As you mentioned above don’t foolishly start tying up your finances together, at that point you will start running into long-term issues.
Opinion, however, most of these high flying relationships last about 6 months before they start to degrade in a material fashion. Again be sure to keep all of your skills in-tact, don’t get complacent.
Have you ever had workouts where you begin to get headaches during the couple of hard reps? What can you do to prevent or alleviate headaches that are caused by lifting heavy weight?
Yes this is generally from exhaustion/fatigue and occurs during deadlifts/squats.
As you increase weight you can do two things. 1) switch to more reps and slightly lower weight to improve endurance or 2) obtain a spotter for the heavy lifting to be safe.
If it gets serious (ie painful and not loopy) definitely see a doctor.
I have a FT MM IBD investment banking analyst position and am going to start in July. I want to be top in my class and I’m going to put in the work. I had a small internship at a local boutique bank but I don’t feel like I gave me much preparation (little to no modeling).
1. What should I be doing now? (You may have answered this on the blog, but I could not find anything)
2. Can you list out exactly steps on what I should be doing I know one of them will be excel and financial modeling but how? I’ve looked at financial modeling stuff online and its all paid programs (and I know you’re against this and I don’t think its worth it either)
3. Can you give me exercises for things to do over these next 3 months?
Much appreciation.
1. We will have a longer blog post on this in about a week or so.
2. Two will be covered in one, we suggest you take a look at our Apple bottoms up model. You should be able to create the exact same document from scratch in about 4-6 hours. Choose a different company and make the formatting equal to what we posted on the blog.
3. Do you plan on staying in transaction work or market centric work?
I will definitely check out both posts.
Like I said before, I want to just kill it when I start working. So I am looking for actionable steps but do not know where to start. I.e. “Go to this website, model this company etc.” not just generic lessons
To be honest no idea if market or transaction oriented. I’ve managed my personal account since high school and love investing but will be in investment banking (transaction work) in the near term (for at least the next 2 years). Who knows where i will end up after that but I just want to set myself up for success.
Easy go to the SEC.gov and the company website.
1. Build out the last 2 years financial statements (income statement balance sheet and cash flow)
2. Go to the conference call transcript on the company website (investor relations)
3. build out a three statement model (going forward 2 years)
4. Now check all your estimates, annual and quarterly estimates) to yahoo finance estimates
Do NOT look up the estimates before building the model, your goal is to try and get relatively close to consensus IE: if you model $2B in revenue but consensus is only at $1.1B that is probably a terrible model. If Consensus is $1.8B and you get to $2B, pat yourself on the back that is pretty good for a back of the envelope calculation.
what are the best investments to get into if you want to create a nice passive income portfolio?
This is also on the blog post list, however in terms of passive income you’ve got the following options
1) Dividends
2) Bonds
3) Housing (tough and we don’t like it much)
4) Reits which are similar to dividends but are taxed at your personal income tax rate
5) long-term CDs (ugly in todays market)
any great sex books that you might recommend to improve your sexual game?
None off the top of our heads, as long as you’re happy don’t see a reason to search aggressively for new tactics.
What you guys think about peer to peer lending, government I savings bonds, and treasure inflation protected securities, treasury bills, and municipal bonds as investments for passive income?
Yes those are all forms of passive income with various risk profiles.
T-bills have an incredibly low rate of return, so unless you are old or rich, you shouldn’t bother with them.