Any Rich NTers ?

[richkarlmarx]

Originally Posted by Joseph Camel Jr

yeah man i'm ivy right now but undergrad, shooting for m7 .... financial mathematics.....what is that exactly? i'm shooting for the traditional i-banking for 2 yrs then mba route but im curious about that.

Financial mathematics is Chicago's version of financial economics (which was my ugrad major). Its basically the application of mathematically basedeconomic models to the financial and capital markets while still taking into consideration the present economic context. Think math+finance+econ.


The MBA is good for people not going into finance (don't get me wrong, if you have an MBA and you do want to get into finance, theyre not gonna tell you toscram

). But an MBA is a management degree (even w/a concentration in finance). iBanking is all about how much money you can make for your firm and an MBAjust trys to fit in as much of everything as they can (jack of all trades, king of none..) A more mathematically based graduate degree will give you the skillsyou need to actually make ridiculous money for your firm (and take home a massive commission check, more promotional opportunities, etc etc). In terms ofgetting a job, an MBA is just as likely as a MSc in Mathematical Finance or Financial Economics, but in terms of moving up the ladder and really doing well, Ithink the MSc is the way to go. I, personally, wouldn't have done it any other way.

 

[hollakid619]

Originally Posted by RFX45

Some of the example of people not spending too much, I think, just has to do with what interests them.
For example, this guy is the 11th richest man in the world but he is getting flamed by WUSers for wearing this cheap polar watch:

But his hobbies include acquiring this:

So I think it really depends on the person and what their passion, interests are.
I mean another example is Jay Leno, you'd never think dude spends money but his car collections is kept in 2 plane hangars.
This is NT so of course we see interests in clothes, shoes and cars and that is what people spend their money on, rich or not.

WOW, I honestly never thought of it like that. Maybe SOME people that buy flashy cars and clothes arent doing it to look rich, they just buy whatthey like.

 

[mexicansoul]

Originally Posted by doyung9

Originally Posted by MexicanSoul

Originally Posted by Kingtre

in for all the nt'er stories we about to get

i do this but i got this and i make this etc etc etc.....

at the end of the day look in the mirror...that person knows what it really is - if you can live with that then more power to you

QFT...cause I don't believe 99% of the board with their 150k jobs

Hell, I'm just gonna change my stance.

By my own standards, I'm broke.

you preaching to the choir my man...People assume cause I have a home..I'm rich..if they only knew I have to save a paycheck to pay for thedamned property taxes

And Warren Buffet even said he's cheap...THATS the key IMO...if you wanna "ball", be cheap..BUDGET BALLING is the only way of life

 

[richkarlmarx]

Originally Posted by HOLLAKID619


WOW, I honestly never thought of it like that. Maybe SOME people that buy flashy cars and clothes arent doing it to look rich, they just buy what they l

QFT man, people that rich can do whatever they want just because they want to. I mean that dude can use a coupon from that beast of a book theymake elementary school kids sell for $20 for a free large fries at McD and nobodys gonna think hes poor.

 

[rick2345]

Originally Posted by solematic j21

Originally Posted by Rick2345

Mom is a millionare and I'm the spoiled one so good for me but I guess I'm not rich moms is though

So with that being said, how many sneakers did your mom buy you?

Well I barely started my new job a year ago (co-manager at Footlocker) so I'd like to say like 40%-60% of my collection the rest from of the money camefrom my job , I only have 170+ btw so she baught like 80 pair for me including packs

 

[chi ill]

Originally Posted by richKarlmarx

Originally Posted by HOLLAKID619


WOW, I honestly never thought of it like that. Maybe SOME people that buy flashy cars and clothes arent doing it to look rich, they just buy what they l

QFT man, people that rich can do whatever they want just because they want to. I mean that dude can use a coupon from that beast of a book they make elementary school kids sell for $20 for a free large fries at McD and nobodys gonna think hes poor.

It sounds like he was being sarcastic .

 

[antc]

richKarlmarx wrote:

---

Originally Posted by Joseph Camel Jr

richKarlmarx wrote:

---

i made 165K + bonuses last year after i got my masters in mathematical finance ivy style

no i dont buy sneakers or blow ******ed money on sweaters or anything like that. people that earn their money by working 75 hours a week arent gonna throw it away on sneakers. i do spend a good amount on suits and watches though but nothing i cant handle

im 24 by the way

what school? m7 i assume


yeah you got it, technically its not ivy, but its m7. I finished at UChicago grad and my offical degree was an MSc in Financial Mathematics (mathematical finance, same thing). It was one of the toughest things i've ever done (studying 8hours daily plus 4-5 hours of class) but its worth it like you can't believe. Lifes just gonna be easier ya kno.


Interesting handle you have richKarlmarx. Anyway, glad you got rewarded for all your hard work. I cannot imagine studying 8 hours a day. That is somediscipline. I was a real good student, but I could not do that.

 

[f360spyder]

Originally Posted by Al Audi

real talk an im not even gonna out my fam like that (literally)

my cousin

son got plenty LV, live in the hood.........dont own a car, convicted felon

but on some real he a good dude.....he actually mentor the youth an what not so they dont go down the path he did


cats just like bein flashy......but yea it is a front.

our favorite rappers front.

thats crazy man...cause i have this one dude that was in my english class that came into class fully dressed in LV..GUCCI..you name it AND you could tell that#$%* was real. I seen him leave school one day and hop into a Benzo GL truck..brand new with rims. Dude goes to a CC in manhattan and has all that...it makesme wonder. I mean they probably think the same #$%* about me...brand new bmw...crazy modded..nice clothes..and in a CC.

 

[nipxd]

LOL i agree with alota things said in this thread

Its not how much money you spend, its how you spend it.

At my work place, theres a department manager. She makes more than i do. Yet she CONSTANTLY asked me to buy her daughter cereal and milk. She asked me what iwould get for her daughter on her birthday/Xmas. Sometimes chick straight asked me for $5 to put gas in her tank, and would gimme free stuff from her own storeinventory just so she doesnt have to pay for it back

Yet, the day shes off, she comes in with her lil daughter. Both momma and lil one got on Trues, Armani Exchange, Gucci Belt, Prada shoes, blah blah blah. Andthen told me how she just bought her boyfriend a $380 pair of Prada Cups cuz "I dont care if i like it ima get it. I aint struggling i livecomfortably".

I seen her house. If you can even call that a house.

The nexy day coming in to work, first thing she said "You gon buy me breakfast today?"

You serious?

 

[Los Angeles]

MexicanSoul wrote:

And Warren Buffet even said he's cheap...THATS the key IMO...if you wanna "ball", be cheap..BUDGET BALLING is the only way of life

Yup, penny pinchers always seem to be well-off.

 

[ricardo malta]

Originally Posted by DOWNTOWN43

Malta what did you even do..?

(or are you not comfortable talking about it)

I dabbled in the finance industry since graduation (I-banking for 2 years, then onto a PE firm in boston) but a good chunk of my money I netted from soundinvestments (real estate and stock market). I was locked up from January to June with a couple more months to go on transitional supervision (GPS bracelet,9pm curfew), but I have such a financial cushion that this recession business isn't really affecting me (or at least it doesn't feel that way). I'm kind of just relaxing during this unemployment phase and doing alot of community service/volunteer work and thinking of new investment ideas.

As far as what I did to go to jail, ask DreClark

(he had it in his sigfrom January up until this week)

 

[th3ownly]

well to be honest my dad make a lot of money he used to be an anesthesiologist but he switched to a pain management specialist and there are only a few ofthose in the area

he will pretty much only shop at the dollar store probably because he grew up with nothing he used to sleep outside because they didnt have ac

its definatly been passed to me i only get my clothes from the goodwill as seen in the pick up and my goodwill collection

 

[illionaire]

Originally Posted by Rick2345

Originally Posted by solematic j21

Originally Posted by Rick2345

Mom is a millionare and I'm the spoiled one so good for me but I guess I'm not rich moms is though

So with that being said, how many sneakers did your mom buy you?

Well I barely started my new job a year ago (co-manager at Footlocker) so I'd like to say like 40%-60% of my collection the rest from of the money came from my job , I only have 170+ btw so she baught like 80 pair for me including packs

Only 170+ pairs? ok.

 

[joseph camel jr]

Originally Posted by Ricardo Malta


I was about to come in here and stunt like Barnum & Bailey then I thought better of it. That TI/Vick vacation I just came home from told me to humble myself

Lemme put it this way. Some "Rich" people are materialistic and show it off. Some shop at Marshalls and drive a Prius. Some "middle of the road" people are materialistic and live beyond their means. Some dig through bargain bins and just re-upped their bus pass.

At the end of the day, who really cares how someone else spends their money? Your priorities aren't the next man's so who are you to decide if somebody is "frontin' and stuntin"?

BTW, I just sold my condo in Back Bay (Boston) for a cool $1.7

(sorry had to stunt just a weeee bit

)

Originally Posted by richKarlmarx

Originally Posted by Joseph Camel Jr

yeah man i'm ivy right now but undergrad, shooting for m7 .... financial mathematics.....what is that exactly? i'm shooting for the traditional i-banking for 2 yrs then mba route but im curious about that.

Financial mathematics is Chicago's version of financial economics (which was my ugrad major). Its basically the application of mathematically based economic models to the financial and capital markets while still taking into consideration the present economic context. Think math+finance+econ.


The MBA is good for people not going into finance (don't get me wrong, if you have an MBA and you do want to get into finance, theyre not gonna tell you to scram

). But an MBA is a management degree (even w/a concentration in finance). iBanking is all about how much money you can make for your firm and an MBA just trys to fit in as much of everything as they can (jack of all trades, king of none..) A more mathematically based graduate degree will give you the skills you need to actually make ridiculous money for your firm (and take home a massive commission check, more promotional opportunities, etc etc). In terms of getting a job, an MBA is just as likely as a MSc in Mathematical Finance or Financial Economics, but in terms of moving up the ladder and really doing well, I think the MSc is the way to go. I, personally, wouldn't have done it any other way.

yeah this has me thinking about changing my career goals slightly.....it seems like a strong math background is a huge plus now more than ever.

what kind of math did you do undergrad? all i've done is calc 2, but i'm signed up for calc 3 (multivariable etc.) next semester and i'm gonna keepgoing if need be. did you major/minor in math?

 

[getthismoney]

Originally Posted by DeadsetAce

dropping a G on a sneaker doesn't mean you're rich. most of the time on this site it means you're stupid.

co-signature

 

[redman]

Excuse my ignorance but what is m7?

 

[lazyj10]

Originally Posted by richKarlmarx

Originally Posted by LazyJ10

Originally Posted by belle155

Originally Posted by richKarlmarx

Originally Posted by Joseph Camel Jr

Originally Posted by richKarlmarx

i made 165K + bonuses last year after i got my masters in mathematical finance ivy style

no i dont buy sneakers or blow ******ed money on sweaters or anything like that. people that earn their money by working 75 hours a week arent gonna throw it away on sneakers. i do spend a good amount on suits and watches though but nothing i cant handle

im 24 by the way

what school? m7 i assume

yeah you got it, technically its not ivy, but its m7. I finished at UChicago grad and my offical degree was an MSc in Financial Mathematics (mathematical finance, same thing). It was one of the toughest things i've ever done (studying 8hours daily plus 4-5 hours of class) but its worth it like you can't believe. Lifes just gonna be easier ya kno.

so whats your actual job? if youre gettin 165K in bonuses alone thats impressive. Your bonus alone is more than my whole salary. I could get up there if I did a lot of OT but for now the 40 hrs a week is ok for me. Do most people with your degree get money like that? I might have to go back to school

Did I misread that, I thought he meant he made 165k + got a bonus...either way, not bad. Hopefully didn't slave too many hours to obtain it.

I have a cousin/friend who I believe created a math theorem over at the U of Chi. Definitely a great school, especially mathematics.

Yeah man its base salary: $165,000 plus a bonus of $35000-$65000 depending on performance. I've only been with this company for 2 years so its a good start. The real money starts after the 5-6-7 year mark. In terms of working hard... well lets just say thats not an issue (80+ hours a week Monday-Fri FTL)...

My degree is definitely marketable because of how focused and mathematically based it is, butt I wouldnt say that everybody makes that much starting (UChicago does have a really high avg income post grad tho). The biggest value is in how much you actually learn with this degree. As corny as it sounds its true. Once youre in the door in the financial world, its all up to you. You make money for the company, you get mad rich quicker than anywhere else. If you lose money, well you get replaced by somebody that can make money lol. So again, the degree teaches you a lot that you can actually apply in your work.

My advice is to go back to school 100%. You see a lot of people here making posts about how college isnt worth it and its all who you know...

i didnt know anybodyyy (just moved to a new city man). Do it. Get a math-based degree if you can, youll be better off.

Good info. I'm done with school unless I go back for law. I'm straight on iBanking, the money would be great, but eh...I'd rather learn some stuffon the side and stick with my accounting gig. I've got private equity clients, so that transition wouldn't be out of the question.
I'd rather continue with the 80 hour week (m - sat) for Jan through April and have the rest of the year around 40-50 hr max weeks (m - f).
Best of luck to you, I got fam out in Chi.
edit - If I recall dre's sig from S&T, didn't malta break someones face basically?

 

[mastamind89]

Originally Posted by Al Audi

Originally Posted by NY Denim Seller

Theres something when you wearing Kanye LV and living in the projects. That should never happen, take that money and get out the hood and move into a decent apartment.
Same thing for all those dudes that got BMWs and Benzes parked in front of their public housing.

another story i got..........swear on my life

the jects round my fams way in long island.........man id have to take pics for you to believe

Range Rovers
350z with rims
BMW
Volvos
Benz

yo NY cats are somethin else.

what part of LI?

 

[curiousgeorg3]

im getting a degree in engineering but ive heard some financial firms welcome engineers. could an engineer be successful in the financial world?

 

[rick2345]

Originally Posted by ILLIONAIRE

Originally Posted by Rick2345

Originally Posted by solematic j21

Originally Posted by Rick2345

Mom is a millionare and I'm the spoiled one so good for me but I guess I'm not rich moms is though

So with that being said, how many sneakers did your mom buy you?

Well I barely started my new job a year ago (co-manager at Footlocker) so I'd like to say like 40%-60% of my collection the rest from of the money came from my job , I only have 170+ btw so she baught like 80 pair for me including packs

Only 170+ pairs? ok.

Well to me it's not alot my dads been collecting sneakers since 1980 and he has 400+ and I'm hoping to reach a goal of atleast 300+ I know guys whohave over 500 I want to reach that many but at least 250 and all sneakers I buy I like and wear all of them so the only time shoes are DS is with in the week Ibuy them in and I hope I reach 250 cause all my dad does is gloat

 

[kix4kix]

I am not rich, but I would consider my parents wealthy.

 

[kix4kix]

Trust me the quickest way to spot a broke person is by how they dress. You can tell someone who is spending outside their means when they are wearing 3000dollars in clothing, but pay 400 in rent for their one bedroom apartment...Also what do you mean by rich? There are several definitions.

 

[wawaweewa]

Originally Posted by HOLLAKID619

WOW, I honestly never thought of it like that. Maybe SOME people that buy flashy cars and clothes arent doing it to look rich, they just buy what they like.


eh...prob not.

The wealthy are wealthy because they look for value.

That yacht may have cost $100m (just guessing) but it provides major value both in terms of use (a cheaper yachtcannot serve the same function as this yacht) and maintaining its value ( if he wants to sell it, there will be offers at close to what eh bought it for).

On the other hand.
Does the quality/value difference in say, a pair of Jordans and some payless kicks, justify the price tag on the Jordan's?

 

[lazyj10]

Originally Posted by wawaweewa

Originally Posted by HOLLAKID619

WOW, I honestly never thought of it like that. Maybe SOME people that buy flashy cars and clothes arent doing it to look rich, they just buy what they like.

eh...prob not.

The wealthy are wealthy because they look for value.

That yacht may have cost $100m (just guessing) but it provides major value both in terms of use (a cheaper yacht cannot serve the same function as this yacht) and maintaining its value ( if he wants to sell it, there will be offers at close to what eh bought it for).

On the other hand.
Does the quality/value difference in say, a pair of Jordans and some payless kicks, justify the price tag on the Jordan's?








I can't imagine yachts hold THAT much value...the cost on maintaining one of those + the original price tag, you think they're honestly recouping that?What's monthly maintenance plus gas charges?

 

[kix4kix]

Nothing holds value like property (With the exception of the current crash

)

My parents are "wealthy" ... but I don't think either have ever bought a new car.