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Reply to "If you grew up poor"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I grew dirt poor. Slept on floor in Living room till age of 12 with brother, Father an Alcoholic, both parents and 8th greade education. Lived in a very rough part of NYC as a kids, gun shots and stuff. Rent Controlled tiny apt. Went to college on financial aid, graduated college and got a job on Wall street, did MBA at night. Parents long dead. Dad died 16 liver failure, Mom died of Hep around 16 years ago. Have three kids, a SAHM wife and make 500K and live in 6k square foot house in the DC area and my neighbors are all surgeons and lawyers. Money means nothing to me. Could care less. I went to school with no hat or gloves, hole in a shoe, sometimes heat would go out in rental dump and in summer it was an inferno. We slept windows closed no AC on floor sometimes or window open a crack with a stick to block it so dont get robbed. I a bed, AC, Heat, food and own my own house and car which makes me feel rich. I acutally have a few million cash, stock and bonds, but does not feel real. [/quote] When was this? Went I went to college in early 2000s, wall street tended to filter for 'cultural fit' -- how did you squeak by?[/quote] I hit Wall Street in 1985. Back then a college degree was not even required. My two VPs did not go to college. 1987 cleared out the non-college degree crowed. I managed not to get laid off in the 1987 crash, did my MBA at night between 1989 and 1992 when street was dead as a door nail. From 1993 to 1998 stayed on the street, then went to consulting with broker dealers as my clients from 1998 to 2006 then ended up with a corner office back on Wall Street from 2006 to 2016 then moved to DC. My key was from 1985 to 2016 never out of work not even one day. I switched jobs five times along way voluntarily. The DC thing was well I finally go caught in a lay-off. But I had a record run for wall street. 31 years. I was always saving like crazy as on Wall Street it never lasts long. But I lasted 31 years. Even more impressive held onto same corner office with a water view for ten years. Screw salary and bonus had to hold on to a corner office. I lost that in DC. But still have an office. [/quote] You’re not ready to retire?!?! That money goes a lot further in DC than NYC. Still, I admire your hustle! I have a buddy from the Bronx who did the same trajectory as you: started on Wall St in early 90s as a back office trade-filler while doing night classes at PACE, worked his way up and passed his Series test, started trading, made a killing, left the Street after 9/11 to invest his money in real estate and small businesses around NYC and Miami (he owns a few hair salons, bars, and small apartment buildings). [/quote]
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