Greenwich is an expensive place to live..

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.
More...

This is perhaps one of the more stupid things I have seen. He IS middle class.

After all, why should someone have excess money in the bank, when they could be in hock up to their eyeballs? And have to repay it when the next downturn or advanced algorithmic trading puts them out of work?

Do you know how much more valuable an IRA is when you start at 21 than when you start at 35?

I work in the financial industry. As long as you dress well, and are sharp, he will go about as far.

Most people I work with are much more impressed by brains, talent and hard work than a BMW.

Spending $$$ like it is going out of style is not going to help much.
 
Quote from rcanfiel:

This is perhaps one of the more stupid things I have seen. He IS middle class.

After all, why should someone have excess money in the bank, when they could be in hock up to their eyeballs? And have to repay it when the next downturn or advanced algorithmic trading puts them out of work?

Do you know how much more valuable an IRA is when you start at 21 than when you start at 35?

I work in the financial industry. As long as you dress well, and are sharp, he will go about as far.

Most people I work with are much more impressed by brains, talent and hard work than a BMW.

Spending $$$ like it is going out of style is not going to help much.
More...

balance, my friend, balance. spending and saving, no one said not to save.

surf:)
 
Quote from rcanfiel:

This is perhaps one of the more stupid things I have seen. He IS middle class.

After all, why should someone have excess money in the bank, when they could be in hock up to their eyeballs? And have to repay it when the next downturn or advanced algorithmic trading puts them out of work?

Do you know how much more valuable an IRA is when you start at 21 than when you start at 35?

I work in the financial industry. As long as you dress well, and are sharp, he will go about as far.

Most people I work with are much more impressed by brains, talent and hard work than a BMW.

Spending $$$ like it is going out of style is not going to help much.
More...

did I say bmw, did I say go into debt.
If you don't understand what I am saying no problem, some people may get it, some younger guys may profit from it.
 
Quote from chartie:

Sounds like you’ve already had a plan and know what you’re doing.

So why did you start this thread in the first place?

Greenwich has changed a lot in recent years. It used be a very classy town, hardly appears on the news page of major newspapers. Residents hated to get outside attention. There were no street name and/or numbers in certain part of town.

No longer my favorite place to live.

Good luck and much success to you. :)
More...

How do people live on a street without a name or number? How do they get their mail? What address do they use for their driver's license?
 
Don't listen to the hotshots who tell you to live beyond your means, they're probably broke. It won't make you successful. I've met people who made $140k a year and saved $5k of that (a poor savings rate) and it didn't help them the least bit financially. You'll be in a precarious position if you get laid off, and your nice watch won't help you at all.
 
You must log in or register to reply here.
Back
Top