From Making $2 Million A Year To Quitting His Finance Job With Khe Hy

Aug 29, 2024

Khe Hy, a former Wall Street powerhouse and one of the youngest Managing Directors at BlackRock, walks us through his astonishing journey of leaving a $2 million salary behind. He uncovers the reasons for prioritizing family and personal fulfillment over wealth. The discussion dives into the emotional complexities of wealth, the challenges of transitioning from finance to content creation, and how life experiences shape resilience. Khe also shares insights on parenting and the pressures of living up to expectations, emphasizing the importance of emotional well-being.

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ANECDOTE

Benefitting from the Crisis

Khe Hy benefited from the 2008 financial crisis by receiving promotions and gaining valuable experience.
He was young enough to not have significant losses, but old enough to gain key responsibilities.

INSIGHT

Fund of Funds is Sales

Khe Hy believes that being a fund of funds manager requires more business development and sales skills than investment acumen.
He felt the industry wouldn't last but it has matured and institutionalized.

ANECDOTE

Rapid Rise at BlackRock

Khe Hy's career at BlackRock involved rapid promotions, including a bump to Director after one year as VP and Managing Director at 31.
He attributes this success partly to luck and being a beneficiary of "battlefield promotions" during the financial crisis.

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I speak with Khe Hy, who spent 15 years on Wall Street and became one of the youngest Managing Directors at BlackRock at just 31. He earned up to $2 million a year—then he quit!

His journey mirrors mine in many ways, though he earned significantly more. I thought it would be fascinating to understand why he chose to walk away from such wealth.

Could you give up $1-2 million a year in your mid-to-late 30s? I don't think I could. But then again, I sometimes forget just how miserable and unhealthy I felt working on Wall Street.

He now spends time with his family, writing his Radreads newsletter and recording The Examined Life podcast.

→ The RadReads email newsletter and blog http://radreads.co/join → The Examined Life Podcast https://pod.link/1692585605

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