I live in Hoboken NJ which, for those who dont know, is literally a 10 minute train ride into Manhattan. But...I dont have to pay the outrageous NYC city tax which is like 4.5% or something. If you make, say 200K, you have to pay, in addition to federal and New York State tax, almost 10K just for the priveledge of living in NYC. For a day trader, who has such variable income, why on earth would you want to pay this additional expense? This extra money you save by not living there can really come in handy in the event of slow periods.
I am considering moving from mountain time east as I get more involved in day trading. When I was in FL this summer for vacation I thought how nice it would be to get up at a regular hour, work out, shower, eat a healthy breakfast and still have half an hour or so before the eminis trade RTH. I get jealous, I do, of you folks trade from Eastern Time. I don't like getting up at 5:45 so I can be ready at 6:20 RTH some days to trade the Euro or other early markets. I know I am whining, but don't take it too seriously, it's Friday and I am punchy from lack of sleep.
well apparently you work for the new york city welcome center... Anyways, are you seriously going to try to contend that it is a inexpensive city? what about taxes, what do you have to say about them? and btw, i took the liberty of google researching this myself and found that NY is indeed the most expensive city in the US
I will give you the real advice. Go to southern Florida and here is why. First, ***no state income taxes.*** Second, 4 seasons does not keep you in-shape. Go to NYC and then to Florida, the people are obviously in better mental and physical shape in Florida. Its also a lot easier to get around a place that is warm and sunny, than cold and snowy. Daytrading requires that you be 100% at all times. Third, attitudes. NYC is notorious for rude behavior to include myself. The reason why there are so many attitudes is because its not a peaceful place. Traffic is always jammed, horns honking, everyone always in a rush and never a private moment. Fourth, expenses. A decent apartment in the city will run a premium to Florida any day of the week. Fifth, Florida is blue and NYC is shades of grey. NYC is full of concrete canyons and, when it gets cold especially, you see shades of grey. Sixth, dirt and filth. NYC has always been filthy-dirty. Imagine paying thousands of dollars a month for an apartment and walking outside to piles of trash everywhere with a rotten smell. Seventh, safety. There is always the possibility of a terrorist attack, but thats not the real problem. You could very easily be hit by an oncoming vehicle or get mugged. There are so many people and cars that anything can happen. Eighth, cant have a car without consequences and expense. Parking on the street is non-existent. It will take 30 minutes at the least to find a decent space. Chances are that it will get ticked and towed. If you do rent a space, it will cost at the least 300 a month. When and if you do find a space, your car will be damaged by a hit-run driver eventually. Most NYC cars have collision damage on them. Ninth, women. NYC women are notoriously overweight and full of attitudes. Florida on the other hand has many easy slender ladies. Why does this matter? If your young and single, this does matter A LOT. Imagine making a lot of cash but having to choose from overweight attitude filled women who have a lack of libido because of the 4 seasons. Ok ok. There are many exceptions here. Its possible to find a good looking lady in NYC, but one walk along a beach in Florida or visit to a bar and you will see what I am talking about. Out of all the different factors, no state income taxes is the top one. However, it is a lot of trouble living in and around NYC. I say find a nice peaceful part of Southern Florida. Thats a better place.
I'll be visiting NYC Jan 11-14 to find a 3BR apartment with a move in date of Feb 1st. I'm renting for the first year at least, so can anyone give me some advice in finding a place? We're considering living in Midtown E/W, Murray Hill, the E/W Villages, possibly Soho and the Upper East side. I'd like to get a newer apt in a high rise building, with views, amenities and preferably a washer/ dryer in the unit. I'd like to spend less than $6K per month and be relatively close to transportation. Ideally, I'd like to avoid paying a broker fee, but if that's the racket and I have to pay to access the best places, so be it. Do they really add that much value to the process of finding housing? What are the alternatives? Craigslist? (which btw I hear is full of apts that have "just rented" or advertised at incorrect prices). Which brings up the question, how competitive is the market? I've heard 1% vacancy in Manhattan recently and that apt owners push for leases to be signed immediately after a showing with a suitable tenant. Well, I'm hoping that by being up there in January, it will give me an edge is that no one else is crazy enough to walk around in the snow looking for apartments! Thanks in advance for the help and Happy Holidays to all!
Could you be a little more dramatic? There are far worse places on this earth than the NY/NJ area. Try about 90% of Africa for starters...
Dollars and cents, holding EST time zone constant, the best place to trade from would probably be from some city in South America. You might even be able to wrangle the $80,000 or so deduction for living abroad, on top of of no state taxes and very low cost of living. In addition, living outside of the US for a spell is a mind broadening experience.
nobody can take your remarks or your con padres remarks seriously. people don't pay $5000+ rent to live in the "most miserable area on planet Earth". you obviously don't know the meaning of the word misery probably being raised in the states or western europe. you have never experienced revolutionary upheavel and doubtfully have ever suffered hunger. try to learn about life before talking in hyberbole.