Greenwich is an expensive place to live..

Quote from demoship:

Ok, first off, about the insurance, I'm 21, insurance companies fuck people under 25, period.

I'm getting an awesome deal on my insurance as it is, no complaints there. And I MUST Have a car, how the hell do I go grocery shopping, etc?

Living in greenwich, instead of stamford or whatever.. When you have to get up at 6:30 in the morning to take a shower, get dressed, go to work, do you really want to have to get up at 5:30 or 6:00 because you have a longer commute? I sure as hell don't. If I had to commute 30 minutes to work, I'd probably lose my job for being late.

Room for pay increase.. There is a MASSIVE amount of room here. I'm fresh out of college, and this is my first real job ever. I'm expecting a total of a 40 - 50% increase in compensation within the next 1.5 years. If I don't get it, I'm going to get a new job.

After this job, I can easily get like 70K / yr w/ 8 hour workdays. If they won't pay me 90K / yr for 11 hour workdays after I learn everything and am an efficient employee, then I will look for other work. My 60K / year starting salary is PERFECTLY reasonable. Remember, every starting salary compensates for the fact that the person you hired might be a total fucktard, or who won't work out for other reasons. Plus I guarantee you the company spent at least 50K in getting me there (Both in costs of paying the headhunter fees, and loss of productivity in having the employees spend time interviewing people). Provided I show that I'm a good asset, they will pay me enough to give me incentive to stay.
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this thread imo was not a waste of time. it was a good exercise in sorting out displays of common sense; which is uncommon apparently.

this guy is young, so let him vent a little. as i said before, he will make more money. he's paying some dues. that 60 sec. commute is totally worth it taking the big picture in account. if he gets a ny job eventually, which is likely; move there too. if you ever settle down with a family, then you should consider the train from ct. you will make more dough with that work ethic.
 
Im not trying to be offensive, but the poster lacks some common sense. He is right out of college, this is his first job and he is working on a starter salary. So what does he do? He rents an expensive apartment and buys a new car.

Furthermore, he has greater expectations that probably might not come true.

Here is my logic. Whenever you start a new job, it usually takes six to twelve months for both yourself and the company to figure out if this is a good fit. During that time, there is a chance that you will either quit or get fired. After six to twelve months, then there is greater security.

Buying a car and signing the lease to an expensive apartment is simply not wise at all. He doesnt know that the job will last and is right now living on hope.

The hedge fund industry has been good for the last few years however hedge funds have been blowing up lately, mutual funds seem to have better returns then hedge funds, and there is a huge pool of candidates who would be more then willing to take his place. If the price performance of a certain stock is any indicator of the industry in which its in, then I would be worried. BX, SHLD, FIG and GS all have been doing very poorly lately and their stock price is falling.

So I believe his greatest mistakes are living as if the job at the hedge fund is going to be a permanent job and then expecting to make a lot more in a few years.

I think its alright to have goals, but you have to embrace reality. Reality is that anything can happen your first year on the job, reality is that the hedge fund industry might be headed for a nose-dive.
 
Quote from michaelscott:

I have found that anything Toyota or Honda *that is 4 cylinder* requires very little maintenance and will last at least 300,000 miles. I have seen many Toyotas and Hondas in NYC with 200+K mileage, over 10 years old and still driving well. The owners always have the same story that all they have done is oil changes and nothing ever went wrong.
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They're reliable but I wouldn't go that far. They do need things beyond oil changes: CV joints, hoses, coolant flushes, timing belt, tranny fluid replacements, brake pads, and so on. Those people who say they do only oil changes are clearly exaggerating. No car will get to 200k miles on the original brake pads LOL
 
Quote from ehsmama:

Geenwich is not expensive, YOU ARE POOR.. Go make some real money.
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Greenwich is very expensive. I looked up its demographics data and its median home price is only a little lower than where I live, and I live in a freaking-a$$ expensive city.

That said, I still think his expenses are higher than they need to be. He is unwilling to make sacrifices to lower them, but that's his choice.
 
this guy did not include PV of increase in future earnings. I lived in Fairfield county for almost 10 years, and one of the biggest mistakes i made that i commuted from southport to stamford first 2 years..
anyway, to start, i was living way beoyond my means and accumulated debt to fund my out of college proffesional "high-life". 5 years plus of top experience paid of handsomely. i think if i stayed in the area where i went to school out west, i would still be selling insurance policies to housewifes for a "median salary".
 
Quote from michaelscott:

Here is some advice on how to live cheaply. At your income level, you should be living with roommates and driving a fairly used car.

1) Rent a room out of someone's house for $500-800 a month on craigslist. Dont sign a lease or throw down a deposit. Take a look, lots of nice houses to rent out of. Look for a young single homeowner who doesnt mind some noise or partying.

http://newyork.craigslist.org/fct/roo/

2) Get yourself a used car under $10 grand and only minimally insure it. No collision, just liability. If the car has alloy wheels, go to the junkyard and find some steel wheels and wheel covers to place on it. The reason is that steel wheels are much better in snow and there will be less of a reason why you will get in an accident.

Look at these. Cant go wrong with a 4 cylinder honda. These will go for at least another 10 years and 200,000 miles and give you decent gas mileage in the 30s on the highway.

http://newyork.craigslist.org/wch/car/376943997.html

http://newyork.craigslist.org/que/car/376145337.html

http://newyork.craigslist.org/mnh/car/377405743.html

3) See what the fund can pay for in terms of expenses. Cable, phone, cellphone, internet, etc. Tell them that you often use the internet at home and see if they will pay for that. Dont be afraid to ask.

4) Food and other expenses- Live with the mentality that you dont need anything. You dont really need to drink alcohol or eat hardily everyday. Dont buy anything, put off all purchases as long as you can. All stuff you buy will turn to junk. All stuff you eat will turn to sh*t and p*ss.

5) Women- Always go half and whoever doesnt want to go half has to walk.

For what your making, I can live in a million dollar house and drive around in a presentable car and still be able to save at least 20 grand a year....
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wtf? do the wheels have to do with it??? its the tires genius, can you please stop posting
 
dudes he is 21 making good money.

Telling him to save now when he is in greenwich in the hedge fund industry is irresponsible. You are thinking middle class and he is working in the hedge fund industry in Greenwich.

He should have a nice car, nice shoes, nice suits and an 800 dollar watch like a tag.

he should act like he comes from money and knows how to act around it.

driving around in a old honda and saving 800 a month when he is 21 years old has to be the worst investment he could make.

If he develops his skills, and his presentation, he could make that in a day.

He can read rich dad poor dad when he is in his thirties and working a regular career. Right now he should be laying the groundwork for a big career.
 
Quote from jem:

dudes he is 21 making good money.

Telling him to save now when he is in greenwich in the hedge fund industry is irresponsible. You are thinking middle class and he is working in the hedge fund industry in Greenwich.

He should have a nice car, nice shoes, nice suits and an 800 dollar watch like a tag.

he should act like he comes from money and knows how to act around it.

driving around in a old honda and saving 800 a month when he is 21 years old has to be the worst investment he could make.

If he develops his skills, and his presentation, he could make that in a day.

He can read rich dad poor dad when he is in his thirties and working a regular career. Right now he should be laying the groundwork for a big career.
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nicely said, jem. these guys definately have the poor man or worse---a miser mentality--- what a terrible life!

regards,
surf

ps. i like your tennis club story....
 
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