Banker struggles on $350,000 a year

[hilojack]

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.

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.

Sshhh, don't give this one away! You need to add a (d) to this list.

(d) the dogs have to be ugly and slow-- suggests multi-generational wealth and proximity to the park.

Back in the day my buddy and I used to dog-walk these two ridiculously old bull-dogs from our friend's mother's 5th ave apt.

We'd have to carry like 80 lbs of dog each just so it didn't take an hour to hit sheeps meadow and man did that dog attract ass like no other!

The convo used to go, "yeah its a shame grandma bippy doesn't get around as much so she hates leaving him with the staff out East. So I keep him here at the apt so he's closer to family. But sadly he's getting up there as well so luckily its only a short jaunt here. Why don't you give me your number?"

 

[Ghost of Cutten]

Quote from sle:


The reality is that, to quote John Gutfreund, "you never get rich in this business, you only attain new levels of relative poverty". Temptation of spending is always there and there always will be people that will cave in

Seriously, you are being ridiculous. Stop confusing wasteful extravagance with genuine needs. You are a childless couple, your 'needs' (generously defined) are a 800 square foot 2 bedroom apartment within 1 hour commute of your workplace. The extra 1000 square feet and Manhattan location, which you paid 1.5 million+ cash for, are pure luxury - along with your dog-walkers (lol) and even your pets.

Get a grip man.

 

[sle]

Quote from Ghost of Cutten:

Seriously, you are being ridiculous. Stop confusing wasteful extravagance with genuine needs. You are a childless couple, your 'needs' (generously defined) are a 800 square foot 2 bedroom apartment within 1 hour commute of your workplace. The extra 1000 square feet and Manhattan location, which you paid 1.5 million+ cash for, are pure luxury - along with your dog-walkers (lol) and even your pets.

Get a grip man.

I am not complaining, I am just stating the reality - the more you make the more you end up spending. While the carry cost for my dogs might come across as "extravagant", there are people who are spending way more on a similar income and there are people who own more consumer goods with incomes order of magnitude lower then mine.

But on a different note, who exactly gets to define what the "needs" are. Say, why an 800 foot plat and not 100, there's still enough space the the two of us? Why an hour and not 3? Why not prohibit owning pets completely? This country is turning into yet another Soviet Union...

PS. if there is one thing that we can't change, it's the location - with me starting at 6am and coming home around 8 and my Mrs trying to get the hospital by 5am, we have no choice but to live in Manhattan.

 

[Rationalize]

Quote from sle:

I am not complaining, I am just stating the reality - the more you make the more you end up spending. While the carry cost for my dogs might come across as "extravagant", there are people who are spending way more on a similar income and there are people who own more consumer goods with incomes order of magnitude lower then mine.

But on a different note, who exactly gets to define what the "needs" are. Say, why an 800 foot plat and not 100, there's still enough space the the two of us? Why an hour and not 3? Why not prohibit owning pets completely? This country is turning into yet another Soviet Union...

PS. if there is one thing that we can't change, it's the location - with me starting at 6am and coming home around 8 and my Mrs trying to get the hospital by 5am, we have no choice but to live in Manhattan.

Have you calc'd your hourly rate?

 

[newguy05]

Quote from cactus_trader:

$180k income in Dallas, Denver, PHX or Orlando, what would that be equal too in NYC?

in terms how far of living expenses, taxes, property. would you say 2:1?

At least 2:1, real estate cost in those cities are 1/3 or less of nyc.

Unless you are super wealthy, i really think living in manhattan as a family with 2 kids is stupid. It puts all that pressure on everyone without much gain, manhattan is a great place for young and single crowd. Once you get married with kids you are far better off move outside the island and live comfortably in a much larger space without the high cost. There are many great residential areas nearby.

Most of those families in manhattan has been there their whole lives and refuse to look elsewhere, it's as if someone is asking them to move to iraq or something. Meanwhile they struggle paying those high mortgages & taxes paycheck to paycheck with little savings.