NYC rent v. Commuting from L.I.

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Re: NYC rent v. Commuting from L.I.

Postby Anonymous User » Tue Feb 09, 2016 11:26 am

Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

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Re: NYC rent v. Commuting from L.I.

Postby Anonymous User » Tue Feb 09, 2016 12:10 pm

Danger Zone wrote:Just look up places along the Hudson on the jersey side


guys Weehawken to Grand Central/east midtown. is public transportation reliable (bus)? how crowded is the bus at 8:15 a.m.? 40 min commute door to door?

Tls2016

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Re: NYC rent v. Commuting from L.I.

Postby Tls2016 » Tue Feb 09, 2016 12:20 pm

Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?

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DELG

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Re: NYC rent v. Commuting from L.I.

Postby DELG » Tue Feb 09, 2016 1:47 pm

Tls2016 wrote:
Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?


Remember that you pay rent with post-tax dollars so you may very well have to earn nearly 6 figures pre-tax to pay it post-tax.

Tls2016

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Re: NYC rent v. Commuting from L.I.

Postby Tls2016 » Tue Feb 09, 2016 2:06 pm

DELG wrote:
Tls2016 wrote:
Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?


Remember that you pay rent with post-tax dollars so you may very well have to earn nearly 6 figures pre-tax to pay it post-tax.


Isn't he paying loans with post tax dollars too? I know there is an interest deduction, but I don't see how OP will have $6000+ to out to loans and savings every month. Maybe I'm missing something.

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DELG

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Re: NYC rent v. Commuting from L.I.

Postby DELG » Tue Feb 09, 2016 3:35 pm

Tls2016 wrote:
DELG wrote:
Tls2016 wrote:
Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?


Remember that you pay rent with post-tax dollars so you may very well have to earn nearly 6 figures pre-tax to pay it post-tax.


Isn't he paying loans with post tax dollars too? I know there is an interest deduction, but I don't see how OP will have $6000+ to out to loans and savings every month. Maybe I'm missing something.


Ohhhh. I think previous poster is saying not an EXTRA $6k but $6k in total (on top of what you'd already have).

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Re: NYC rent v. Commuting from L.I.

Postby Anonymous User » Tue Feb 09, 2016 6:18 pm

http://www.nytimes.com/2015/08/02/reale ... html?_r=0#

Rutherford is a great choice for those looking to NJ and only thinking of Hoboken/Weehawken/Jersey City. Fast commute into city by bus or train, great BYO restaurants, near many other nice towns. Lots of high end apartment complexes popping up in the area too. Definitely the next layer of the onion being peeled off here - first people left the city for Hoboken because it was too expensive, now people are leaving Hoboken for Rutherford and similar towns under 10 miles from the city because nice places in Hoboken/Weehawken are too expensive. Worth looking into!

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Re: NYC rent v. Commuting from L.I.

Postby veers » Tue Feb 09, 2016 11:31 pm

Tls2016 wrote:
Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?


Not every group has all nighters/late nights...really more of an M&A/DCM thing...tax and smaller corporate groups tend to be more consistent...even litigation can be more normalish

Tls2016

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Re: NYC rent v. Commuting from L.I.

Postby Tls2016 » Wed Feb 10, 2016 9:31 am

veers wrote:
Tls2016 wrote:
Anonymous User wrote:Op I'm a junior associate at a firm in the city and I live at home in LI rent free. I commute one hour to and one hour from work everyday. If I work late, I'll take a car and it is never an issue. If you live by the LIRR and your office is by penn station I recommend living at home for a year. Ive already paid off a significant amount of my loans, and saved a significant amount of funds because I don't pay rent. The LIRR is expensive but you're making 6 figures and saving on rent. Questions to ask yourself 1) are you comfortable living at home? 2) do you mind being on the train for an hour? 3) do you want to have $6,000+ to throw at loans and savings every month? If your answer is yes to every question, do it. Good luck.

OP s office is downtown making his commute much longer. It's unrealistic that OP would be spending $6000 a month in rent and utilities.
Of course it's better to not pay rent. I was used to walking to work and commuting seems very difficult when you have limited time. But maybe if you grew up on Long Island, you guys are used to the train?
How did it work for you when you worked all night? Or several really late nights in a row?


Not every group has all nighters/late nights...really more of an M&A/DCM thing...tax and smaller corporate groups tend to be more consistent...even litigation can be more normalish

So you haven't had to deal with late nights on your commute?

jt91isles

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Re: NYC rent v. Commuting from L.I.

Postby jt91isles » Tue Feb 16, 2016 12:50 am

Anonymous User wrote:Lots of confusion here...plenty of people commute in from the burbs, an hour twenty in on a comfortable train isn't bad, and if you stay late enough for car service the ride back can be under an hour. You could also do the train both ways and get work done on it.

Just pick a practice group with more normal hours (avoid M&A, DCM, etc...)


OP here, accidental anon Issue is that I think I plan on going corporate. Is that possible with that commute every day?

**Edit - Accidental Anon**

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Re: NYC rent v. Commuting from L.I.

Postby Anonymous User » Tue Feb 16, 2016 11:09 pm

Yes, but if you are doing M&A or DCM it could get painful. Do you really want to pull an all nighter, spend an hour in a car getting home, get 3-4 hours of sleep, and come back in with a 1.5 hour commute?

People do it, but it's definitely more viable in the non-deal corporate groups.

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Re: NYC rent v. Commuting from L.I.

Postby Anonymous User » Wed Feb 17, 2016 1:00 am

I live in Union County, NJ, closer to the Jersey Shore than the city.

I jump on a 815 bus, and get to my office between 915-10:00, depending on the tunnel. If I'm running late, I have my assistant forward my calls and otherwise do my morning routine. I normally "bill" at least an hour of reading law digests/regulations anyway, so worst comes to worst I do it on my phone.

In the evening I car service anytime after the express bus ends (about 10) It's a little more than $100 but no-one seems to mind. Half the time a client picks up the bill, the other half of the time my firm is footing a $70 post tax bill, which is like O .3 hours of billing. Weekends are always car serviced both ways.

No one cares, as long as you bill and make it in when they ask.



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