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That and he's in a field that has volatile pay and employment so extra nest egg is essential. Not sure how he builds up savings (probably lives very frugal) bu

by whatok 12y ago

That and he's in a field that has volatile pay and employment so extra nest egg is essential. Not sure how he builds up savings (probably lives very frugal) but props to him for donating half his pay.

akgerber 12y ago
Living on $75k or so after-tax in NYC as a young single man isn't 'very frugal'. A nice room in a roommate situation can be had for $1000/mo, a very nice one for $2000, which totals $12k-$24k per year. Likewise a modest reasonably-located 1bedroom/studio can be had for $2000/mo. After that, the only mandatory expenses are $1000 or so a year for transportation and reasonable expenses for food, though much of that cost is likely paid by his employer.
- whatok 12y ago
  I'd argue that it's extremely frugal given the city's high cost of living and like I mentioned above, an industry where pay and employment is volatile. He could easily get laid off or paid down year over year through no fault of his own. Your living expenses do not leave much leftover in the way of savings, travel (kinda good to vacation in a high stress job), or even just experiencing what one of the greatest cities in the world has to offer.
ceras 12y ago
I'm in a similar boat to this guy for income, location, and donation goals. I spend < $30k per year living in downtown Manhattan, so that leaves a lot of room for saving. And I feel like my life is positively luxurious, so I'd never remotely use the word "sacrifice" to describe this. I can think of a few reasonable changes I could make to lower my expenses to < $20k if I wanted to be more aggressive, but my current spending level works to compromise with my (incredibly understanding) girlfriend. Social factors are always there, but the absolute reality of this level of spending in NYC is fantastic. The numbers will change when a family is involved, of course, but both the article guy and I (probably) have a long time to save up before that happens.

by whatok 12y ago

akgerber 12y ago

Living on $75k or so after-tax in NYC as a young single man isn't 'very frugal'. A nice room in a roommate situation can be had for $1000/mo, a very nice one for $2000, which totals $12k-$24k per year. Likewise a modest reasonably-located 1bedroom/studio can be had for $2000/mo. After that, the only mandatory expenses are $1000 or so a year for transportation and reasonable expenses for food, though much of that cost is likely paid by his employer.

whatok 12y ago
I'd argue that it's extremely frugal given the city's high cost of living and like I mentioned above, an industry where pay and employment is volatile. He could easily get laid off or paid down year over year through no fault of his own. Your living expenses do not leave much leftover in the way of savings, travel (kinda good to vacation in a high stress job), or even just experiencing what one of the greatest cities in the world has to offer.

ceras 12y ago

I'm in a similar boat to this guy for income, location, and donation goals. I spend < $30k per year living in downtown Manhattan, so that leaves a lot of room for saving. And I feel like my life is positively luxurious, so I'd never remotely use the word "sacrifice" to describe this. I can think of a few reasonable changes I could make to lower my expenses to < $20k if I wanted to be more aggressive, but my current spending level works to compromise with my (incredibly understanding) girlfriend. Social factors are always there, but the absolute reality of this level of spending in NYC is fantastic. The numbers will change when a family is involved, of course, but both the article guy and I (probably) have a long time to save up before that happens.