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Hi from NYC
Old 06-03-2008, 09:48 AM   #1
Confused about dryer sheets
Join Date: Jun 2008
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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.

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
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Old 06-03-2008, 11:14 AM   #2
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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?

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Old 06-03-2008, 11:19 AM   #3
Confused about dryer sheets
Join Date: Jun 2008
Posts: 7
The City
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Old 06-07-2008, 10:16 PM   #4
Recycles dryer sheets
Join Date: Jul 2007
Location: East Bay CA/Long Island NY
Posts: 167
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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Old 06-08-2008, 12:43 AM   #5
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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.

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Old 06-08-2008, 04:43 AM   #6
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Join Date: Oct 2007
Location: New York
Posts: 898
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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