Ok, so he has been on the public payroll for 25 of his 54 years. What did he do before that? 29 years old not really old enough to have amassed much wealth with a post college career. So how do these people become m’airs while in office /sarc.
Look for him to either run in the Dem primary in 2012 for President or (more likely IMO) run for Indiana Gov again. Mitch Daniels will be done (2 terms) and Bayh would likely be facing Becky Skillman (current Lt Gov.) - which would probably be a very close race.
He went to college, got law degree and served as a clerk for Federal judge before entering politics.
Because his father was senator, though, he didn't have much of a problem getting elected.