The issue glossed over by the folks recommending South Florida or Arizona over NYC is the networking opportunities. At the start of ones career, it is of paramount importance to network and leverage other peoples experience and connections to your benefit. In NYC the relevant employment opportunities are abundant and the local universities are excellent recourses for additional education and contacts. Young people should aim high, and the probabilities are against you if you start trading in the basement of your home in Florida or Arizona. The latest bonus pools for companies in NYC and Chicago are in the newsâ¦. I have known successful traders who have semi-retired to wonderful sunny locations and they love it. However, most of them are maintaining a life style and not looking to make a killing or build a fortune living in wonderland.
I have the totally opposite opinion. I thought most people in NYC were much fitter and better looking than elsewhere, except perhaps CA. You have to walk a lot more than living elsewhere. We may hang out in different circles though. I never made it out of the East Village except to go to Chelsea.
Sorry, I was misleading. Let me ungloss some things. I am only an amateur and the job thing is not part of the sequence for becoming an expert in trading with the orientation that others and I have out here. Net working is electronic or done by air out here. The local scene for passing stuff forward is available any day of the week at this point as well. For the IB Olympiad 2007, we just had a sidebar on that the other night and we plan on winning the top twenty slots with local students. The salary, capital and making money stuff on the equity curves we use show that the salary line crossover occurs very early on a young person's (high school or better) chart. Taking chunks out for any lifestyle need looks kinda neglible at best. Small other factor. The basement thing. We are into glass and panoramas; we do not dig out here except to terrace "hillside view" properties and for "pools". Tell your buddies, to check in with the local crowd at our fund raisers or service projects.
Is there much point to networking for an individual trading from his bedroom in his pj's? Total self-sufficiency can be both a blessing and a curse in this game. As for living environment, if you're the type who's content with Starbuck's coffee, shopping at malls, eating at CKE restaurants, and watching cable tv, then by all means head west. It's what you can only find in the city that keeps everybody here, I don't see how people who really enjoy the town can just pack up and transplant themselves elsewhere. And all for what, a few dollars? That's what the trading is for, isn't it?
Everyone always bitches about the high cost of living in fashionable urban areas. If you want access to all the fun stuff that living in a big city entails, then you're going to have to pay for it. Whether it's worth it or not is up to you. Traveler
1. I have nothing against the elderly. I do however steer clear from imbeciles, morons and feeble minded people whether they are 18 or 81. 2. Saving money in life is not everything. I much rather live in NYC than in Florida. Come to think of it would love to reside in Europe which is many places is a lot more expensive than even NYC. Not everything can be converted to $$$$$. 3. The difference between caretaker and sanitation man here in NYC is about 60.000 more in annual salary, retirement after 25 years, union protection, 4 to 6 hour week day and very good health plan. Now compare that to a caretaker and if you do not see the difference than you should pursue legal action against your high school for giving you a diploma. 4. You are right thee are many young people moving to Florida. Plenty of Cubans, Dominicans, Haitians and Puerto Ricans. Now, I have nothing against them, but let's not try to BS one another here. Most people in my area are well paid professionals who have no desire to move to Florida. Poor uneducated, undocumented and jobless youngsters on the other hand do go down there to start over. I hope your spanish is strong pal. You gonna need it! 5.Enjoying a night out in Manhattan, going to see a show, or just walking in the Village is a treat. Listening to guys playing their guitars, enjoying a beer and a smoke on Bleecker Street. Heck seeing harlem at night, taking a subway at 4 o'clock in the morning. Being there when Yankees win world series yet again. You cannot put a price on it pal. You call that slavery??????????
Gary, Indiana is where it is at. A 3 bedroom house on 1/8 acre with bars on the window will cost you as little as $40k and you are supposedly only 45 minutes away from the Chicago pit action. Machine gun turrets and bullet-proof glass is extra. Be sure to paint your house and dress in neutral colors.