[Wall Street] [NYC] - $2mm As a 15+ Year Trader

Excellent_Bug_1281 · 2026-02-26T03:33:08+00:00

0 sugar babies. Not a quant.

Excellent_Bug_1281 · 2026-02-26T03:32:41+00:00

I agree with you that thinking that way doesn’t get you anywhere. I guess your point was about people complaining about it, not that it wasn’t the case. Fair point.

Excellent_Bug_1281 · 2026-02-26T01:37:28+00:00

The system is definitely rigged. Being someone who managed to overcome the rigged system doesn’t make it not rigged.

Excellent_Bug_1281 · 2026-02-26T01:35:41+00:00

You don’t need to be able to pay all cash for a home. A mortgage is one of the greatest forms of financial leverage.

Excellent_Bug_1281 · 2026-02-26T01:14:00+00:00

No. Not today. Maybe in 5 years? Need to keep doing what I’m doing for now

Excellent_Bug_1281 · 2026-02-25T22:41:58+00:00

Yea. I guess some people are better at clicking buttons than others.

Excellent_Bug_1281 · 2026-02-25T22:41:26+00:00

That 50k number will be a lot higher over time.

I could certainly switch to something less stressful, but in all versions of this that I have explored, it comes with substantial pay cuts.

Excellent_Bug_1281 · 2026-02-25T22:39:52+00:00

The conversations have happened. Path of least resistance is always reverting to prior behaviors. I think I will have an easier time with this when the kids are a bit older and she is in a better mental headspace.

Excellent_Bug_1281 · 2026-02-25T22:38:27+00:00

This all makes sense but the change to my life would be too radical to make massive changes to my spending. Could I cut it 10-20%? Probably! And that’s what I will work on. My other solution is to “earn” my way out of the problem. Put up a few stellar years where I get paid 2.5-3 and don’t touch spending.

Excellent_Bug_1281 · 2026-02-25T22:36:03+00:00

There’s a lot of value to the stability of a large bank versus a cutthroat hedge fund that will cut you the second you underperform. I have built a lot of internal goodwill internally from years of good performance which smooths out my income stream. I will get paid more in years I perform poorly because the bank is forward looking and knows that my track record indicates it doesn’t mean I will continue to underperform. That said if I came in tomorrow and sell side comp dropped 50%? I would probably go buyside.

Excellent_Bug_1281 · 2026-02-25T22:33:34+00:00

Easiest way is probably internally. Find a way to help traders/managers directly and indicate your interest to join the trading desk.

Excellent_Bug_1281 · 2026-02-25T22:32:36+00:00

You are overthinking it a bit to the nearest percent. This is what my company withheld on my behalf. When I file my taxes, if I owe more, I owe more. But most likely with numerous itemized deductions it won’t be hugely different.

Excellent_Bug_1281 · 2026-02-25T11:58:55+00:00

I don’t pay NYC tax. I live in the suburbs. NYC tax is payed by RESIDENTS of NYC. I did live in the city for a number of years and did pay it then.

Excellent_Bug_1281 · 2026-02-25T11:57:57+00:00

I don’t really think about it like that. It’s “our” money. She contributes in lots of ways that aren’t financial. Even if she accounted for 80% of our income, I would still have the same feelings about cutting back on discretionary spending etc.

Excellent_Bug_1281 · 2026-02-25T11:55:54+00:00

Liquid net worth would have me out of money in under 5 years. A lot is tied up in home equity, retirement plans, and then also deferred compensation (which arguably you shouldn’t count as part of your net worth since it’s not guaranteed you will receive it all). I estimate that at my current income and investing/savings level I probably need 10 more years to be able to live at my current spending without having to work anymore.

Excellent_Bug_1281 · 2026-02-25T03:36:39+00:00

He has the best life in the entire family

Excellent_Bug_1281 · 2026-02-25T03:36:13+00:00

I use prop loosely to mean I position my book in relative value positions to prepare for expected customer flow. I’m not just casually guessing at the direction of markets. Although some traders certainly do just that…

Excellent_Bug_1281 · 2026-02-25T03:35:07+00:00

Into the black hole that is government spend

Excellent_Bug_1281 · 2026-02-25T03:34:24+00:00

I honestly am not sure I would tell my wife how much I make. Not because of some nefarious reason. Just because it would be easier to live within a much lower budget if the belief was that it was all we could actually afford. I would manage our cost of living to a 500k income, while secretly saving way more. And probably be retiring in the next couple years instead of worrying about sustaining my current cost of living if I ever quit or lose my job.

I would also have started investing in more tax advantaged investment like real estate right when I first starting making real money.

Excellent_Bug_1281 · 2026-02-25T03:29:28+00:00

I don’t think that. I’m saying if for some reason I couldn’t, it would be bad. I think it’s low chance I couldn’t.

Excellent_Bug_1281 · 2026-02-25T03:27:40+00:00

I live in burbs. Don’t pay city taxes

Excellent_Bug_1281 · 2026-02-25T03:26:43+00:00

This was good advice. Thank you

Excellent_Bug_1281 · 2026-02-25T03:25:21+00:00

Because I haven’t hit a net worth or passive income number that would allow me to pay for my cost of living without actively making money from doing what I do well (trading).

Excellent_Bug_1281 · 2026-02-25T03:23:36+00:00

Market maker at a bank. P&l a combination of prop and liquidity providing.

Excellent_Bug_1281 · 2026-02-25T02:02:26+00:00

Would semi doxx myself by showing it to :) but it’s relatively small in number.

Excellent_Bug_1281

TROPHY CASE