Banker struggles on $350,000 a year

Quote from babutime:

The racial prejudice in a few members in this thread is appalling. Absolutely disgusting.

Middle class values (wtf is that anyways?) intertwined with a disdain of coloured kids who "keep it real" ?

Are there no African Americans (or other coloured Americans) in this thread because (some) European Americans here tend to think that you and your kids are somehow only public school material and don't really deserve to have their kids hanging out with yours.

I understand that there are excellent public high schools like Stuyvesant (very few but they do exist) in NYC. So why not enrol your 1% kids to these schools? Oh that's right, your kids are probably idiots who couldn't make it to these top schools which very likely has a mix of all sorts of races. So your solution is to stretch yourself and pay $40K a year on some glorified education system. Why? Because the potentially racist and socially inept offspring you're raising also happens to be stupid.

Besides, the walls of private school won't keep these pesky coloured folks away. Your kid will eventually want to buy some X or chronic from them. He's probably already friends with Tyrone. What will you do? Ground him and not give him access to World of Warcraft or COD multiplayer for an entire week? Way to raise your kids!!

Don't like having your kids called idiots? No shit Sherlock because nobody likes to be prejudiced against- especially based on race. The feeling of entitlement is not prevalent on those who protest on Wall Street or against income equality in America. It is actually prevalent in the handful of you racists who don't like the public sphere smeared with coloured folks who (along with the vast majority of your own race) are simply demanding an end to socializing losses and privatizing gains.

Simple.

Just because you can't reap the benefits of a public education system (which can only come about if you're willing to give up a tad few more % points on taxes), doesn't mean these coloured are to blame.

You are.

STFU and stop pulling out the race card twit. Ever hear of a man named Barack H. Obama? Whites put him in the White House, not blacks. Ever hear of Oprah Winfrey? Whites made her a Billionaire, not blacks. Let's consider all the NFL and NBA players making millions each year, which comes mostly from whites. I'm sick of "you people" pulling the race card. LOL Now, get to the back of the bus and stop drinking out of my water fountain.
 
Quote from babutime:

...
I understand that there are excellent public high schools like Stuyvesant (very few but they do exist) in NYC. So why not enrol your 1% kids to these schools? Oh that's right, your kids are probably idiots who couldn't make it to these top schools...
Maybe, maybe not. Not sure the wall street crowd is exactly the 1% brightest on the planet, other than the exotic derivs guys of course. Lots of average intelligence but awesome sales traders out there, making big bucks. Oh, and shhh, don't tell anyone that that smartest people work in the middle office.

It's not "what" you know.
 
Quote from Optional:

Sorry if your dogs cost that much and it's affecting your lifestyle maybe it's time to put that money away and get rid of the fucking pets.

Exactamundo.

You are a weak fuck if you need pets.

Pets make the home dirty and they poop and piss everywhere.

They are too fucking noisy. When I hear a dog barking, I want to smash its skull.

I can't stand the constant barking anymore.

Would you like it if I constantly rang you doorbell or called your house?

Get rid of your pets and be a man.
 
To all the pet haters...its all relative. There have been multiple studies that suggest having a pet actually extends your life as well as the quality of your life. I currently don't have a pet...have a live in spouse which is quite enough. If I lived in NYC and didn't have a roommate I believe a pet would be very important. In any case no one questions how expensive NYC is to live in and to make a judgment on how ppl spend their money is kinda pointless. Its only when people whine that I think we have a right to throw snow balls. I don't believe SLE has done any whining. As far as the $350K guy I'm not feeling in any way sorry for him or any other bankers/financial ppl. They will have to learn to live on less and I'm sure will do just fine.
 
Quote from Clubber Lang:

350k in NYC isn't as much as you would think.

After federal, state, and city taxes he would end up with roughly 190k.

Now before everyone starts screaming that 190k is "rich". If you've ever lived in NYC, San Francisco, Tokyo, etc you know how obscene the costs are for everything from rent to a sandwich. Even the supermarket prices are routinely 50-100% more than you will find just an hour outside a major city.

His one kids private school eats up 32k of that 190k. And for anyone who says "send your kid to public school", well you have no fucking clue about PS in nyc, especially if you're white.

So you're down to 158k. I'm being generous and saying his lower duplex brownstone rent is only 4000 a month. That's 48k a year.

Down to 110k and still haven't fed or dressed a family of four, paid electric, water, gas, cable, phone, car or other transportation, entertainment, recreation, vacation, charity, and not a penny towards retirement or savings.

He is still way ahead of most people, but he's hardly "rich" in NYC.


+ 1, 190Kusd is not enough to get a lavish lifestyle in many world cities plus it's difficult to adjust to a dimishing buying power. To put this into perspective 190k is slighlty less the rental of an apartment I'm going to visit monday afternoon, which, although almost twice bigger and probably better than the noisy smallish flat I live in now, is far from great for the area, and which I probably won't be able to rent anyway for a bunch of reasons. Real estate in most of the US sound so dirt cheap many of you guys can't understand the dificulty to afford a decent living in many of the world cramped cities.

BTW, New York definetely doesn't qualify as a city with cheap real estate, if the banker in question lives in a 1200sqft duplex(!) with 2 kids, he can't feel comfortable at home.
 
Quote from RichardRimes:

To all the pet haters...its all relative. There have been multiple studies that suggest having a pet actually extends your life as well as the quality of your life. I currently don't have a pet...have a live in spouse which is quite enough. If I lived in NYC and didn't have a roommate I believe a pet would be very important. In any case no one questions how expensive NYC is to live in and to make a judgment on how ppl spend their money is kinda pointless. Its only when people whine that I think we have a right to throw snow balls. I don't believe SLE has done any whining. As far as the $350K guy I'm not feeling in any way sorry for him or any other bankers/financial ppl. They will have to learn to live on less and I'm sure will do just fine.
$350K dude just has to wait a while.

Prices will adjust & Manhattan RE sales people will be the next to whine.

Trickle down works both ways.
 
Quote from SteveNYC:
You are a weak fuck if you need pets.
I guess I am a weak fuck, but clearly I am a successful weak fuck and you are clearly a loser (and a sore loser at that).

For the reference, almost everyone in my coop has a dog and I'd guess that median income here is a $1.5 million a year. You don't have a pet and you are probably making an order of magnitude less - so who is "a man" and who is not?
 
Quote from sle:

I guess I am a weak fuck, but clearly I am a successful weak fuck and you are clearly a loser. For the reference, almost everyone in my coop has a dog and I'd guess that median income here is a $1.5 million a year.

+1 :D

& you're right about the dogs vs Aston Martin.

Funny old place NYC..
 
Quote from Rationalize:
Prices will adjust & Manhattan RE sales people will be the next to whine.
Actually, the prices in Manhattan have been acting very strangely. Lower-tier properties (studies and one bedrooms) have clearly declined in price 10 to 15 percent from the peak of 2007. At the same time, 1200sft and over have actually increased in price. I had a good year last year and was thinking of upgrading and it seems that prices have gone up, not down.

As for girls - it's pretty clear they like the whole dog thing. One of my Mrs' friends hypothesized that women subconsciously make a whole set of extrapolations:
(a) A dog is a serious commitment and if the guy is not afraid to commit to a dog, he's gonna be more likely to commit to a woman.
(b) If a guy has two large dogs, he probably owns a large apartment (rentals, as a rule, don't allow large dogs) and thus he must be making a good living
(c) the guys must have likes the dogs as puppies and thus he must like and want to have kids.
 
Quote from sle:

Actually, the prices in Manhattan have been acting very strangely. Lower-tier properties (studies and one bedrooms) have clearly declined in price 10 to 15 percent from the peak of 2007. At the same time, 1200sft and over have actually increased in price. I had a good year last year and was thinking of upgrading and it seems that prices have gone up, not down.
Can't really see the top end sustaining itself over here, but the effect has been somewhat similar.

Intellectual curiosity here as to what made last year "good"?

Generally unhappy campers on my side of the world. Decreasing flow the main blame. Equities that is.

Re a,b,c - yes. Sets things up well for short term relationships. :p
 
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