Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Delurking NYer; hi all
Old 10-02-2007, 06:46 PM   #1
Confused about dryer sheets
Join Date: Aug 2007
Posts: 2
Delurking NYer; hi all

Hi everyone, I figured it was time for me to delurk. I've been visiting this forum for a quite a while (in stealth mode), taking in the often great advice, humorous banter, and general helpfulness of the folks here. Thanks!

I'm a NYer with a ways to go until I'm FI but hey, I'm pleased to even be able to consider it a possible goal these days. I spent a number of years of my working life in a pretty low-paying industry (and position) and lived simply with little left over to save. Things changed about 10 years ago when I shifted into the world of megacorp financial institutions. This led to much better compensation (fewer old bag lady nightmares), a significant (but so far doable) increase in stress, and a pretty high degree of job insecurity...guess it's all part of the territory. This is where I am now:

48yo, single, no kids
Own co-op: roughly $200k
Ret: $280k (401k, IRAs)
Non-ret: $180k (taxable mutual funds)
No pension

I can and plan to live on a lot less than my current salary but don't see moving from expensive NYC area. So less is still not as low as most places, I suspect. With taking a "sabbatical" (...ex-employer initiated, lengthened by me to travel, putter, and generally contemplate/check out other options), I found healthcare costs to be a huge obstacle to not returning to full-time w/ benefits. It's hard for me to imagine continuing until late 50s in this line of could all change (and probably will) and that would be interesting too...another reinvention of a work identity, perhaps.

walden is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-02-2007, 06:57 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,075
Welcome Walden.

chinaco is offline   Reply With Quote
Old 10-02-2007, 06:57 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 15,908
Welcome, walden. We have lots on common, although I fled the boros for "God's Country" (NJ). You in Queens? I grew up in Flushing and have a good friend living in a Bayside condo.

I think that if you are in our industry, you have the opportunity to stash away large sums on an irregular basis and need to make the most of it. If you are here, you likely haven't fallen prey to the idiocy of luxury spending around bonus time. Just keep plugging and you will at least be in the position to make different choices in the future, if not outright retire.
"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."

- English Bob
brewer12345 is offline   Reply With Quote
Old 10-02-2007, 07:31 PM   #4
Gumby's Avatar
Join Date: Apr 2006
Posts: 9,214
Welcome Walden. As they say: "live on the base, bank the bonus".
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 10-03-2007, 12:55 AM   #5
bssc's Avatar
Join Date: Dec 2005
Posts: 9,139
Welcome and glad that you have decloaked.

Yes, I work for a financial institution too (but not in NYC) so I can guess at the stress. Healthcare is always an issue but I can say good luck and welcome.
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 10-03-2007, 03:54 PM   #6
Confused about dryer sheets
Join Date: Aug 2007
Posts: 2
Thanks for the welcome Chinaco, Brewer, Gumby, and BSSC!

Brewer, I too left for the 'burbs...I'm north of NYC now. Sounds like you know the atmosphere/workings at these "institutions." I was somewhat amazed when I first got into finance and heard that some colleagues used their bonus to pay off the credit card debt they'd been amassing all year. Needless to say some years they were hurting... The more I'm around this environment the more I sometimes feel I'm from an alternate universe; what's with the crazy spending for it's own sake (or a name brand, hot trend?!), and not taking advantage of every bennie offered. Ah well, I just keep banking the bonus and whatever else I can while the job still works for me.

walden is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Hello all, NYer looking to get off the treadmill someday... Gekko Hi, I am... 12 09-12-2007 07:55 PM
Hello - reader delurking deserat Hi, I am... 0 07-15-2004 06:09 AM


All times are GMT -6. The time now is 06:48 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.