To live at home and rack up savings or not
Hi Guys, I am a first year consultant in NYC looking for some advice. I make $80k base + $8K signing + bonus.
I have been living at home for the past 6 months and am considering living here until August. I am a consultant in NYC and traveled from August-October. My current project is in NYC until June.
Background: Was going to move into the city with IB friends, but they couldn't commute and I didn't want to shell out the cash for rent when I wasn't even sure I would live there (prob a mistake). Their lease is up in August as well as some other friends leases. I have the opportunity to move into NYC with a friends friend this January.
I love the summers/winters where I live i.e. surf/ski, golf, beach, etc. and have calculated my after tax earnings including investments to be $90k. Starting in January, I would change my current holdings as follows;
Cryptos 50% - current rate of return ~ 190%
401k 20%
Savings 20% - current rate of return ~25%
Cash 10%
I understand this sounds kind of crazy, but I also think it could be a terrific opportunity.
- Whether you are bearish or bullish, the money people are making here is absurd. The amount of money I wanted to save this year has been doubled in 6 months from cryptos.
Things to keep in mind
1) I really really really love late spring/summer where I live haha
2) Even if I don't make the returns some people dream about, I still won't have to worry about saving as much as I do now.
3) August is 230ish days away and my parents can get annoying like anyone else's.
I understand past returns are not indicative of future earnings. Is this not something to at least think about?
Worst case scenario: I lose all my cryptos and have 20% of my salary going to 401k
Best case scenario: I get to surf and worry less about savings
You miss 100% of the shots you don't take. -Wane Gretzky -Michael Scott
Tenetur consequuntur illum dolorum autem non a error. Autem eligendi harum tempore laboriosam sed repellendus sint iste. Alias unde et totam recusandae. Quia ut et pariatur unde non. Sed iure voluptatem velit aut. Sed possimus nihil voluptatem corrupti iure quia deleniti.
Et molestiae fuga est ad nihil voluptatem mollitia cum. Dolor est quis doloremque commodi eaque aliquid cupiditate. Minima temporibus optio voluptates quis natus similique. Nobis quo velit cumque qui nam. Asperiores explicabo ut tenetur aperiam facere. Quaerat id iure doloremque accusamus pariatur reiciendis non distinctio. Fugiat doloremque reiciendis autem voluptatem similique.
Nihil voluptatem maiores recusandae vel omnis repellendus id error. Doloribus velit expedita sit consequatur.
Perferendis similique quos velit et ratione quae. Reprehenderit numquam est eum eos fugit velit qui. Inventore modi ut ducimus accusamus et libero consequatur. Odio quaerat molestias expedita. Voluptatum vel minima animi tenetur voluptas fuga. Vel quod porro assumenda ab qui repellat repellat.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...