Hello. I am in high school and I am looking seriously into my future career. I love business and finance and have great grades. I never back down from something until I acheive what I want. My ultimate career goal would be to retire sometime in my 40's to 60's with a net worth of 10 million dollars or more. I know it may sound crazy, but that is what I am trying to acheive. Many people tell me in order to be rich, I have to start my own company. The problem is, I see many small companies out there today doing well, yet the owners are making a lot less than what could be made in a job in finance. What kind of company do you have to start in order to become rich? Could I start a private equity firm, investment firm, financial advisory firm, or other sort of finance services firm and become rich if it is succesfull? Do you have to take a company public to become rich? Do you have to sell the company to become rich?
What career path should I consider choosing?
1. Investment Banking - This career is great since the pay is outstanding. Also, business and finance is what I like, so this job appeals to me. This career sets me up for high level positions at Fortune 500 companies, private equity firms, hedge funds, venture capital firms, and also gives me knowledge for starting a financial services company. Also, it may make more sense to focus on a long term investment banking career and make millions at high job positions such as VP and/or Managing Director. The problem is, MANY PEOPLE SAY THAT INVESTMENT BANKING DAYS ARE ENDING. Is this true? Is it still worth it to go into investment banking?
2. Start a consulting type of company right out of college. Since I wouldn't have any financial knowledge yet, I think it would make more sense to get experience first.
But again, what type of companies do people talk about getting rich? I mean, I cannot just start a carwash company or online business and expect to make 200k - 10 million dollars a year. I mean, can't I get rich by working my way up the corporate ladder in investment banking and eventually make 2 million - 10 million dollars a year in investment banking? Otherwise (after some experience), what company should I start to make me rich, and what should I do with it (sell, take it public, grow it, etc.)? Or if investment banking is dieing, should I just become a real estate investor or real estate agent?
Thanks. I may sound annoying, but I'm just in high school and I'm really serious about a future career that could make me retire in my 40's to 60's with a net worth of 10 million dollars or more.