Hi from NYC

tommyjk · 06-03-2008, 10:48 AM

Hi I am Tommy from Queens, NY. Ive been lurking but this is my first post. Here are the basics about me to be discussed in greater length in another post.

Age:22
Civil Service job
Live with mom
Salary: 40k(will increase to 70's in 5 years)
Expenses: $750/month
debt: $0

Savings 5k in savings acct

Coach · 06-03-2008, 12:14 PM

Hi Tommy, and welcome to the forum! Great job on the debt. And great savings rate -- you'll quickly build up net worth that way.

If you don't mind saying, who do you work for? Feds? The city?

Coach

tommyjk · 06-03-2008, 12:19 PM

The City

Salaryman · 06-07-2008, 11:16 PM

Where you from Tommy?
I'm from Woodside originally.

Staying with mom can be painful sometimes, but it'll help your finances for sure. I put away what I would have paid for rent when I lived with my folks & used it for downpayment on a house later on.

Good luck.

Trek · 06-08-2008, 01:43 AM

Live with your mom until you can buy a house, assuming she doesn't mind.

Here in Europe family bonds are strong and it is very common for children to live with their parents until they can buy their first place. It's not looked down upon at all here, like in the States. Here your parents would smack you upside the head for wasting money on rent instead of staying with them and saving.

Maurice · 06-08-2008, 05:43 AM

Hi Tommy -

I have a couple of friends working for the city, it has a fantastic retirement plan. And although 62 may not seem like ER from your perspective, it certainly qualifies and will definitely seem early 40 years from now.

The problem, if you want to call it that, is the retirement package becomes its own set of golden handcuffs... there's no leaving early once you've put in some time there. THe value of those benefits you get at 62 is immense.

Welcome to the forum!

06-03-2008, 10:48 AM	#1
tommyjk Confused about dryer sheets Join Date: Jun 2008 Posts: 7	Hi from NYC Hi I am Tommy from Queens, NY. Ive been lurking but this is my first post. Here are the basics about me to be discussed in greater length in another post. Age:22 Civil Service job Live with mom Salary: 40k(will increase to 70's in 5 years) Expenses: $750/month debt: $0 Savings 5k in savings acct

06-08-2008, 01:43 AM	#5
Trek Full time employment: Posting here. Join Date: Dec 2006 Location: Tallinn Posts: 539	Live with your mom until you can buy a house, assuming she doesn't mind. Here in Europe family bonds are strong and it is very common for children to live with their parents until they can buy their first place. It's not looked down upon at all here, like in the States. Here your parents would smack you upside the head for wasting money on rent instead of staying with them and saving. __________________

06-08-2008, 05:43 AM	#6
Maurice Recycles dryer sheets Join Date: Oct 2007 Location: New York Posts: 380	Hi Tommy - I have a couple of friends working for the city, it has a fantastic retirement plan. And although 62 may not seem like ER from your perspective, it certainly qualifies and will definitely seem early 40 years from now. The problem, if you want to call it that, is the retirement package becomes its own set of golden handcuffs... there's no leaving early once you've put in some time there. THe value of those benefits you get at 62 is immense. Welcome to the forum! __________________ Money's just something you need in case you don't die tomorrow.

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06-03-2008, 12:14 PM	#2
Coach Full time employment: Posting here. Join Date: Nov 2005 Location: Colorado, USA Posts: 681	Hi Tommy, and welcome to the forum! Great job on the debt. And great savings rate -- you'll quickly build up net worth that way. If you don't mind saying, who do you work for? Feds? The city? Coach

06-03-2008, 12:19 PM	#3
tommyjk Confused about dryer sheets Join Date: Jun 2008 Posts: 7	The City

06-07-2008, 11:16 PM	#4
Salaryman Recycles dryer sheets Join Date: Jul 2007 Posts: 81	Where you from Tommy? I'm from Woodside originally. Staying with mom can be painful sometimes, but it'll help your finances for sure. I put away what I would have paid for rent when I lived with my folks & used it for downpayment on a house later on. Good luck.

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