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.
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
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".
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.
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....
Anyone know a good website or networking forum to look at Hedge Funds hiring in the Greenwich or Stamford area?