Client awards you $1mm for superior performance. You quit your job to accept it. Violation?

[former_trader]

@Greenman72

You know what I’d do if I had a million dollars? Nothing. I would stay home all day and do nothing.

Then after 10 years you will be penniless and unemployable.

[LPoulin133]

@Greenman72

You know what I’d do if I had a million dollars? Nothing. I would stay home all day and do nothing.

You should watch Silicon Valley on HBO, pretty funny.

…as for the million dollars you should invest half of it in low risk mutual funds and then take the other half to my friend asadulah who works in securities.

[igor555]

@ohai

How is $1 million even close enough to not work nowadays?

mb if you live in a trailer park in texas somewhere?

[higgmond]

@ohai

How is $1 million even close enough to not work nowadays?

There are plenty of places in Central and South America where you could retire very comfortably on $1MM.

[Greenman72]

@Ohai - Methinks you missed the joke. You need to watch the movie “Office Space”. Then report back to us.

[higgmond]

^ ohai does think it feels good to be a gangster though.

[Robotech]

Yeeeeeaaah, m’kay…

[former_trader]

How bad has the CFA brainwashed people for some to actually debate whether to keep $1 million or the Charter.

[itera]

@former_trader

How bad has the CFA brainwashed people for some to actually debate whether to keep $1 million or the Charter.

it’s like the CFAI saying ‘GOLD! GOLD! HURRY AND GET IT!’

and all the shovel sellers (CFA Tutors) all screaming, “YES! TONS OF GOLD! BUY MY SHOVEL! IT’S THE BEST!”

and then thousands of candidates with no finance experience going “RAH RAH!! I’M GONNA BE RICH and MAKE IT TO FRONT OFFICE!”

Few candidates break in successfully. the real winners are the CFAI (who charged you $3k to take exams) and the shovel sellers (who charged you $3k+ for books/classes).

[naren]

itera: “Do as I say, not as I do.”

I am looking up money laundering in the dictionary.

[GorillaNerd]

1m you can easily live in the philippines for life. Your expenses will be15k/year you want upper class lifestyle. 30k/year and you are a king. no joke.

Here’s an interesting stat I pulled from one of my outlines.

49. You need an annual income of $34,000 a year to be in the richest 1% of the world, according to World Bank economist Branko Milanovic’s 2010 book The Haves and the Have-Nots. To be in the top half of the globe you need to earn just $1,225 a year. For the top 20%, it’s $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000. America’s poorest are some of the world’srichest.

[blackomen]

@Neryblop

1m you can easily live in the philippines for life. Your expenses will be15k/year you want upper class lifestyle. 30k/year and you are a king. no joke.

Here’s an interesting stat I pulled from one of my outlines.

49. You need an annual income of $34,000 a year to be in the richest 1% of the world, according to World Bank economist Branko Milanovic’s 2010 book The Haves and the Have-Nots. To be in the top half of the globe you need to earn just $1,225 a year. For the top 20%, it’s $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000. America’s poorest are some of the world’srichest.

$34K/yr to be in the top 1% of the world? Let’s say there are 6 billion people. 1% of that is 60 million. Let’s assume that in the extreme case, all 60 million live in the US which has 300 billion people. That puts you in the top 20% in the US.

Wait a minute… 34K/yr is NOT in the top 20% in the US.

Wrong!

(Proof by contradiction)

[GorillaNerd]

Lol good point. But i wouldnt assume that all 300m are working.

http://en.wikipedia.org/wiki/Personal_income_in_the_United_States

Over 50k and you are top 18% and above in US.

25k to 50k and you are between the top 45% and 18% in US respectively.

So its not completely out of the question.