You can live well if you're rich and you can live well if you're poor. But if you're poor it's much cheaper. Personally, I think for a very regular life style, NYC to the boonies exchange rate is about 1:4 (food is probably 2x cheaper, real estate is probably 6 times, it averages to something like 4 times). Some of the expences dissappers all together (e.g. no need for a dog walker). If you can move out of NYC, you can probably live fairly well with a buck or two set aside. Just IMHO.
Quitting Trading Job at my Bank to Day Trade at Home
- Thread starter XChamp
- Start date
Living paycheck to paycheck in NYC is the equivalent of living in a 3000 sq ft suburb in the south. I never understood why people like the polluted cesspool of that city, unless you have a well paying career that is.
The wife is on board.
It's hard to move to cheaper areas because all of our extended families live close by.
I don't have any properties personally yet. I manage some for a retired family member who does that.
I lived in Paris for 7 years. Great city...but the weather completely sucks, which is why I suggest the south. The weather is great in the south from early April until October time, even then in October its only mild. Still playing tennis outside until around thanks giving time in Montpellier. A few hours from MOntpellier you have the Pyrenees mountains for the winter sports crowd.
I am back here in the states finishing my degree, I will hopefully move back there once I put together a nice portfolio of properties and I can generate a nice paycheck from those combined with trading, if trading fails for some reason I can pick up a job teaching english, and combined with rental property returns I should be able to net 3k a month without too much trouble. Personally I prefer the European route compared to the $150 dollar a month life in India, although I am sure that you could maybe upgrade your life in India to around $700 a month and be living close to European standards for yourself if you do not mind the other things that some people would consider drawbacks of living in a country like that. I have never been to India, perhaps I would enjoy it there...I will try it out before I decide on France.
I find that life is much cheaper over there compared to here. Obviously there are places where you can spend a fortune, Cannes, Nice, 16th district of Paris are made for ultra rich. But if one does not have that sort of disposable income, there is a great country to have a nice quality of life for less then the USA.
I personally I prefer to have my life rather then slaving away at a job. In my 7 years in france I found that 2500-3000 euros a month is more then enough to live a decent life there.
Nice move.
Living in India : lol.
Here I am getting only negative feedback from visitors who've been there. But the one coming from Japan, certain Chinese areas, many of the other South East Asians countries : very positive and realistic feedback.
The C-u-l-t-u-r-e of a country is extremely important.
And sooner or later one starts to notice.
Why "LoL"? It really depends on where you go. If you go to a big urban center, it's going to be a disaster. If you go to Goa and mostly lie on the beach, it's not too bad. Tons of people down-shift to India, Thailand, Vietnam and seem pretty happy. I went out to Thailand some years ago and can certainly imagine living there as a retiree.Nice move.
Living in India : lol.
Here I am getting only negative feedback from visitors who've been there.
I say do it too...It looks like you have an edge.
But try to really quantify what you will lose with such things as retail commissions and exchange fees and make sure your edge doesn't lie in the firm's flow( internalization...).
I have been doing it since 2007 and quality of life is really great, to the point that it would be really hard to come back in corporate world. Just driving with the sheep during rush hour makes me go crazy...
But try to really quantify what you will lose with such things as retail commissions and exchange fees and make sure your edge doesn't lie in the firm's flow( internalization...).
I have been doing it since 2007 and quality of life is really great, to the point that it would be really hard to come back in corporate world. Just driving with the sheep during rush hour makes me go crazy...
Consider all the cautions that ET members post but don't let any of them sway you if you still fell confident. Most guys that want to go off on their own do not have it well thought out. The fact that you can't scale it leads me to believe you might have a very good reason to leave. What is small $$ to your bank could very well be nice $$ for you.
Good luck.
Good luck.