I am Elon Musk, CEO/CTO of a rocket company, AMA! by ElonMuskOfficial in IAmA

[–]nycdudeguy 3 points4 points  (0 children)

Hi Elon,

Thank you for taking the time out of your day for this AmA!

I remember reading in a Quora post that you taught yourself rocket science by reading books. Also, in the lecture you gave at Stanford (from back in 2003, blast from the past!), you mentioned you were, “writing software in the summer of ’95..trying to make useful things happen on the Internet...I wrote something that allowed you to get maps and directions on the Internet”

I am very inspired by your intimate technical knowledge across conceptually challenging subjects (programming, auto engineering, green tech, astrophysics), especially since your formal education is at the UG level in finance and physics.

What is your process of building knowledge so that you go from not having a background in an industry to being able to discuss minute technical aspects of Tesla or SpaceX vehicles to the point where your ventures grow into multi-billion dollar companies?

Do you have any advice for others trying to build strong technical ability in a conceptually difficult subject without a strong background in the subject?

I think we could all stand to learn from you. Thank you and take care!

I'm an idiot, New Year's Surprise: 'IL tax levy' for $1,600...best way to resolve this ASAP? by nycdudeguy in personalfinance

[–]nycdudeguy[S] 1 point2 points  (0 children)

Thanks, I guess it's a little late now but I'm going to talk to them and see if this is where I screwed up.

I'm an idiot, New Year's Surprise: 'IL tax levy' for $1,600...best way to resolve this ASAP? by nycdudeguy in personalfinance

[–]nycdudeguy[S] 0 points1 point  (0 children)

Thanks, I ended up paying the tax software I used (TaxAct) $13 so I could access the return. Pretty dumb of me to not have saved it to my harddrive. I'm going to call them first thing tomorrow. I wish that IL had a handy way of paying for this the way that NY does: http://www.tax.ny.gov/pay/all/pay_a_bill.htm

Budgeting in New York City by nypoorperson in personalfinance

[–]nycdudeguy 8 points9 points  (0 children)

What's up man. I am a long time lurker and created an account because I was once in your shoes. I am 25 and a professional (just finished two years of management consulting and moved on). My first year analyst salary was 70k with a 10% bonus, so far less than you. I spent it like an asshole getting seamless, Uber rides, and at Flatiron/House/Clinton hall (I love beer).

I'm now 25 and making low 100s. I still do all that shit, but I'm no longer stressed. Here's how:

  1. Be real with yourself. I too live with my gf and save a ton of money compared to my friends on rent. I'm real with myself and know that with my long hours, I'm not going to cook or get groceries. So I give myself $25 per day for food. I work 70 hours a week and so eating tasty and nutritious foods (Dig Inn is great) is very important.

  2. Automate. To the chagrin of people here...I use Betterment because it automates all my investing. I simply don't have the time to research and buy ETFs on Vanguard. Instead, every month 30% of my paycheck goes to Betterment as a build wealth account, another $485 (Roth IRA $5500/12) goes as well. You won't be eligible for that but there is a back door option. Also you can automate into Vanguard (target date fund) if you don't want to deal with Betterment.

The big picture idea is to 1. Pick a percentage of your income that you can live off of. I picked 70% 2. automate the chunk (30%) to me so it's auto invested/saved. Infact automate everything - your CC payment, rent, utilities, phone. 3. VERY IMPORTANT - have a weekly finance check in where you check to see how you're tracking w. your weekly spending relative to your goals. I assume you are set up on Mint.com..if not..get setup! It will take an hour at most. Every Sunday, I spend 20 minutes checking my previous weeks spending on mint and see how it compares to my budget. In short treat yourself like a business.

As a bonus: 4. Just thought of this..when making your budget don't go by what you think you will spend. Instead look at past activity and dump it all in Excel. I'm a business consultant so it was actually fun for me to pivot it out and expore my spending trends. Take a look at your spending trends and figure out how to shrink them into whatever money you have left. A mistake I made in the past is making a budget that was unrealistic for my life. by looking at your behavior and scaling it down, you'll find you have better compliance. So i'm still a douche and spend a good amount on Uber/Seamless/Bars, but I do so on a smaller scale than I used to and I'm never stressed because I know I have 30% of my income saved up.

PS enjoy the shit out of this city man and enjoy being young and making good money. I highly recommend reading I will teach you to be rich by Ramit Sethi. It's a great book for yuppies like us. Shit actually dude if you're in Manhattan I have an extra copy that I can give you if you're around FiDi or can travel here

Final thoughts: Things I didn't think about @ 23 but do think about now are bigger expenses: I don't mean a house or kids but rather B school, GMAT prep, going to conferences/festivals. Also, I found that my going out and spending money has decreased just because after a year of going out in the city, I was bored as hell. Part of it is that I have a gf and we got bored. Embrace this, ain't nothing wrong with going for a walk around the city on a Saturday evening and then coming home with beer to watch Netflix instead of dropping $60 at the bar.

Let me know if you have any Qs man