Not everyone who works at a hedge fund is on the fast track to make $300K. Many of them are called "programmers" or "support" etc. etc. Further, the next downtrend is another 9/11 away, and the person who ran up big tabs and saved nothing may find themselves driving a cab for several years. Otherwise, the advice is relatively useless. Idiots spend like it is going out of style and get into hock up to their eyeballs. Smart people know that its not what you make, its what you keep. The majority of millionaires are actually quite careful with their money - they invest wisely, seek tax shelters, and try to cut unnecessary costs. In fact, many of them are found at Costco or WalMart to buy their HDTVs or groceres. Sam Walton dressed and lived simply. And I doubt anyone on this thread or few in the Hedge Fund industry ever touched his wealth.
Nice post, but if he doesn't make the big bucks and ends up getting fired and has spent everything that he made, he'll be either homeless or back home with his parents. So to be safe, it helps to have some emergency money stashed away in case of a rainy day, at least 6 months worth of living expenses.
Not to be insulting, but making $5000 a month is nothing. In 2001, after the tech bust left me unemployed, I jumped on the first job I could find at a car dealership. Not my job of choice, but it was scary times back then and I didnt know how long unemployment would last for me. Tech stocks were burning in like comets, the trade towers was obliterated and all those tech company buildings had "For lease" signs on them in Mountain View. A scary time. I've since moved onto other things in NYC beyond the dealership... At the Caddy dealership, I was bringing in almost 6 figures. I worked at a bodyshop as the estimator. I had little knowledge of the industry, but I learn fast. The salary was 65k+bonus. The bonus was sometimes cash as the owner of the place would sometimes walk around pealing off hundreds and handing them out to employees at the place. Very shady, but I didnt mind. The interview for the job was a walk around the dealership with the owner of the place. No background checks or anything like that. This was fun. It shocks me that a successful hedge fund would pay an educated man only 5 grand a month. I was making more then that in 2001, 6 years ago, at a random shady Caddy dealership in the bay after a ten minute interview with the scuzzy, shady owner.
http://www.erieri.com/job-salary-data/143/Automobile-Estimator.htm http://salary.jobbankusa.com/salary..._swzttsbtn_psr&p=&geocode=&jobcode=SC16000229 you must be really good estimator... the best i can find is around 40K and as far as i know this business-it's just about right, because job requirements are close to nothing.
Poor Michael Scott. First he plagerizes, then he lies about income/jobs, I understand he even lies to party with the rich and famous. What's wrong with this person?? MissLA