Quote:
Originally Posted by shmike
So you are saying that if someone is making $73k in Cleveland and chooses to live frugally, he can save a few hundred grand a year?
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No, that's exactly the opposite of what I'm saying. The NYC person earing $500K could, if he lived frugally, walk away after 3-4 years with maybe $400-500K in the bank. The most the Cleveland guy could ever put away is maybe $50-75K during that time.
People seem to have this impression that you need a huge salary to work in Manhattan. If this was true, I guess we better tell that to all those Analysts there, right out of college, who only make about $80-90K and still survive. I've never lived there, so I wouldn't know shit, but if someone insists on "living the lifestyle" and owning property and a car on Manhattan, then yes, they'll need a lot more money than that. But a smart person would figure out a way to live more frugally and sock away some of their high salary while they're still young. After a few years they could move back to where they came from, and buy a home with cash, while the rest of their friends are still upside down on their homes.
10-21-2009, 01:34 PM
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