Comments (16)

Nov 28, 2018

Well I don't know, can he live off of 100k / year?

For the normal single male that is 100% possible even in NY, assuming his current rent isn't insane.

If he's got a family / children / etc then that might be considerably more difficult.

We'd need more background information but theoretically yes, it is / should be possible. (Though he may not save much for that year).

Nov 28, 2018

250k * .65(conservative) = $162,500 post-tax so unless you're not paying for insurance, transportation, live in a cardboard box (in a low-COL area), and have transcended the need to consume food then you may be out of luck

Nov 28, 2018

Don't be pessimist. I've seen people live on $3k in the city

Funniest
Nov 28, 2018

I know you're trolling but that's probably in the ballpark of my annual dry cleaning expenses.

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Nov 28, 2018
jnhadekjs:

Don't be pessimist. I've seen people live on $3k in the city

Yeah - I've seen people live on $3K/day in the city too. When I first moved to NYC, I hung out with this dude that always tried to impress the girls (and my two roommates - french chicks) and he'd always pick up dinner and drinks when we went out. He had a black card and it was usually about that much by the end of the night. Dinner and drinks at dinner was usually $1K or so and $2K on club/drinks (for a small group). It was fun, but I started to get burnt out after a couple months. Then, I didn't hang out with him much after that and I kept the momentum on my own tab and blew $20K pretty quickly on no more than food and NYC social life and then had to slow down a little bit after that, but had a good base of partygoers I could link up with after forming the initial connections.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Nov 28, 2018
Isaiah_53_5:
jnhadekjs:

Don't be pessimist. I've seen people live on $3k in the city

Yeah - I've seen people live on $3K/day in the city too. When I first moved to NYC, I hung out with this dude that always tried to impress the girls (and my two roommates - french chicks) and he'd always pick up dinner and drinks when we went out. He had a black card and it was usually about that much by the end of the night. Dinner and drinks at dinner was usually $1K or so and $2K on club/drinks (for a small group). It was fun, but I started to get burnt out after a couple months. Then, I didn't hang out with him much after that and I kept the momentum on my own tab and blew $20K pretty quickly on no more than food and NYC social life and then had to slow down a little bit after that, but had a good base of partygoers I could link up with after forming the initial connections.

Jesus, your buddy is a prime of example of how you can make a million a year and have NOTHING to show for it

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Nov 28, 2018
BBDreamin:
Isaiah_53_5:
jnhadekjs:

Don't be pessimist. I've seen people live on $3k in the city

Yeah - I've seen people live on $3K/day in the city too. When I first moved to NYC, I hung out with this dude that always tried to impress the girls (and my two roommates - french chicks) and he'd always pick up dinner and drinks when we went out. He had a black card and it was usually about that much by the end of the night. Dinner and drinks at dinner was usually $1K or so and $2K on club/drinks (for a small group). It was fun, but I started to get burnt out after a couple months. Then, I didn't hang out with him much after that and I kept the momentum on my own tab and blew $20K pretty quickly on no more than food and NYC social life and then had to slow down a little bit after that, but had a good base of partygoers I could link up with after forming the initial connections.

Jesus, your buddy is a prime of example of how you can make a million a year and have NOTHING to show for it

Yeah he blew a lot of cash. I don't think he made as little as a million though. He had some oil gig in Dubai.

I've seen IB MDs blow shit tons of money for seemingly nothing in NYC. A lot more than that. One night I was in line with a bunch of suits (all IB peeps), waiting to get into the club. Some VP started complaining about waiting (we were waiting for like 3 min) and this MD tried to give the bouncer a hundo or two for us to skip everyone. Was a no go and the bouncer said they only had 1 table left to buy to get in immediately and it was $8K. This MD guy was like ahh no we will wait, that's too much money.

The VP dude started bitching again and the MD was like f-it and just bought the table for $8K so we wouldn't have to wait another 20min outside. We didn't even stay there all night....

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Most Helpful
Nov 28, 2018

Lol I find it hilarious that your MD was essentially peer pressured by a VP to blow $8k just like that

    • 3
Nov 28, 2018
Isaiah_53_5:
jnhadekjs:

Don't be pessimist. I've seen people live on $3k in the city

Yeah - I've seen people live on $3K/day in the city too. When I first moved to NYC, I hung out with this dude that always tried to impress the girls (and my two roommates - french chicks) and he'd always pick up dinner and drinks when we went out. He had a black card and it was usually about that much by the end of the night. Dinner and drinks at dinner was usually $1K or so and $2K on club/drinks (for a small group). It was fun, but I started to get burnt out after a couple months. Then, I didn't hang out with him much after that and I kept the momentum on my own tab and blew $20K pretty quickly on no more than food and NYC social life and then had to slow down a little bit after that, but had a good base of partygoers I could link up with after forming the initial connections.

Jesus, your buddy is a prime of example of how you can make a million a year and have NOTHING to show for it

    • 2
Nov 28, 2018

You're going to be an IB Associate so I hope you have the skills to pull together a 20-row budget and answer this questions yourself

    • 3
Nov 28, 2018

Yes, absolutely can. As someone mentioned earlier you'd have about $162,500 in post-tax earnings. Best advice would be to use every dollar of that to pay off the student loans (which can't be forgiven even through bankruptcy) and take out massive credit card debt for those 12 months.

Then you can declare bankruptcy and get the credit card debt forgiven and have your student loans taken care of.

Good luck!

Nov 28, 2018

In case none of you guys have realized, this guy is probably a troll. He is doing a worse job than me, quite frankly. And my guess is he is just trying to brag that he makes $250k (even though I bet he's a high school junior)

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Nov 28, 2018
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