I graduated in May...starting a job in January where take home is 80k (72 base and 8 signing bonus). I'm moving to NYC for the job which starts in January.
Basically, I have a couple big decisions to make. First is what health care plan I choose. I'm leaving towards the Health Savings Account since I'm very healthy at the moment. Anyone else have an HSA for their insurance? What are the pros and cons? I've looked online and its very convoluted, but my impression is that it's the best option if you don't have many medical expenses but will still provide a safety net in the event where something catastrophic happens to me.
Next, I have the option to buy into an ESPP (employee stock purchasing plan). Up to 10% of my pay check can be used to buy the stock at 5% off market price. I'm working for a large company that doesn't have a highly volatile stock. My understanding of taxes is that you get taxed on a lower rate when you invest into a stock and don't sell for a year. Obviously, there have been times where employees have been seriously burned by ESPP's, like with the Enron scandal. Are there any pros and cons that I'm missing? Seems like a good way to invest money, and I'm working for a fortune 100 company that has been around a while.
Also, where to live in NY? I'm working in mid town. How much should I realistically expect to pay for an apartment with a few other room mates? I've looked into Queens. Looks like apartments are larger/cheaper there, but with that also comes a commute of 25-30 minutes. I'm fine with that, but anything longer might be a little too much for me. If not Queens it looks like I'll be living in Manhattan. What's the general perception of Queens? Will it be a drag trying to bring girls back there from Manhattan?
Lastly, do some of the older forum members have some general financial advice for me? Like things that you fucked up big time that I could learn from and maybe not repeat the same mistakes? I'm currently in the process of building credit as some land lords will check credit history before renting to anyone. Any other suggestions?
Basically, I have a couple big decisions to make. First is what health care plan I choose. I'm leaving towards the Health Savings Account since I'm very healthy at the moment. Anyone else have an HSA for their insurance? What are the pros and cons? I've looked online and its very convoluted, but my impression is that it's the best option if you don't have many medical expenses but will still provide a safety net in the event where something catastrophic happens to me.
Next, I have the option to buy into an ESPP (employee stock purchasing plan). Up to 10% of my pay check can be used to buy the stock at 5% off market price. I'm working for a large company that doesn't have a highly volatile stock. My understanding of taxes is that you get taxed on a lower rate when you invest into a stock and don't sell for a year. Obviously, there have been times where employees have been seriously burned by ESPP's, like with the Enron scandal. Are there any pros and cons that I'm missing? Seems like a good way to invest money, and I'm working for a fortune 100 company that has been around a while.
Also, where to live in NY? I'm working in mid town. How much should I realistically expect to pay for an apartment with a few other room mates? I've looked into Queens. Looks like apartments are larger/cheaper there, but with that also comes a commute of 25-30 minutes. I'm fine with that, but anything longer might be a little too much for me. If not Queens it looks like I'll be living in Manhattan. What's the general perception of Queens? Will it be a drag trying to bring girls back there from Manhattan?
Lastly, do some of the older forum members have some general financial advice for me? Like things that you fucked up big time that I could learn from and maybe not repeat the same mistakes? I'm currently in the process of building credit as some land lords will check credit history before renting to anyone. Any other suggestions?