My Vision...

This assignment is nearing it's deadline, and I've been putting it off until the last minute. Previous to writing this blog entry I was typing away on Excel, distracted from doing my Real Estate assignment and Management by amortization tables for properties in Ecuador. No, that wasn't part of my assignment, but it got me thinking about what I should do with the amount of equity I have lying around. As I changed loan values, and interest rates on the cells, financing Real Estate became more appealing.

What I want...

I want to purchase a sizable apartment in Ecuador. Either in the city of Quito (I love urban living) or in the suburbs. I don't want to settle down there, but it would be a nice comfort to have when visiting family there.

How I can do it...

A decent apartment in Ecuador can go for as low as 100,000 USD. For said price you get luxury amenities, 850 square feet and the opportunity to live in some of the best neighborhoods in the capital. To be able to finance the property I would require 30% money down. This is where my brother comes in. Although I don't have 30%, I'm sure I can round up enough money if I include my brother in the deal. And why not, if we fly to the country at separate times of the year, we get to have our own bachelor pad (for 3 weeks or so). Now, seeing that I have a partner in the deal, now our monthly payments are split between both of us so the $850 that we would have to pay for 10 years can be reduced to a more manageable $426 a month.

or...

My mother and father are speaking of leaving the country to settle back in their home country. My mother would like to settle down in the suburbs of Quito. If they were to sell their house in Connecticut, they would be able to put down about $200,000 in equity. With that amount of money one can purchase a 2,690 square foot apartment in Quito; or it would be possible to finance my mom's dream of living in Ecuador's equivalent to Greenwich for $80,000 more. This is where her children come in. Split four ways, a loan of that amount can be amortized in 10 years at 8% interest for only $255. My parents can settle down in Ecuador while their progeny pick up the tab. A nice reward for my parents' hard work considering they've just hit their mid-forties.

...I should be a financial advisor.

What I want...

I love Excel. I think Excel is Microsoft's gift to man. I would love a job where I can produce Financial Models on Excel all day. In fact I practice for that goal at my current job; I have no need for Excel at my current job. I have a passive character which seems to go against the stereotypical expectation of a Financier. But I've learned that I'm not fit for the fast-paced world of Sales & Trading, or maybe even Equities. Screw it, I'm conservative, when the upside is 13% I await the coming drop. That's why Fixed Income (Bonds) is more my style. Not sexy nor edgy, but hey that's not me. I know that and I've accepted it.

How I can do it...

I want to work in the UK. Today I started researching the ability to do so. I was quite encouraged by the whole process of entering said country. The whole visa process was straightforward, and the career opportunities available were broad. The whole conversion of degree process would probably be stressful but if someone was able to manage it, I'm sure I can as well. I'm definitely looking into a Commercial Bank. The UK has an array of options. Lloyds TSB, RBS, HSBC. I definitely want to work for a Commercial Bank. European Banks seem to have more regulations discouraging excessive risk-taking. I could see myself doing that. Calculating Daily Value at Risk for HSBC. I can already picture it. The only problem is that acquiring said job is highly competitive. Maybe I should hedge my bets and study in the country. The process seems more opportune and London has great Business Schools. But Business for my Masters Degree?

...I like Art more.

What I want...

Working for my B.B.A in Finance seemed like a great idea back in 2006. Everyone and their mother seemed to want to get into the field. Seriously, are like 80% of Baruch students Finance majors? When Accounting fails (or you fail Accounting) the choice seems to be to turn to Finance. Great time. Learned a lot, and it seemed sorta...easy. Now that I'll have that degree under my belt come May 27th, I feel I can turn to what I've had a passion for ever since I stepped into ART 1012 (Intro to Art History)...Which you may have already guessed; Art History. Finance was nice and manageable but now I hunger for the opportunity to actually argue about the artistic merits of Dada, or the timeless value of De Stijl. One can simply not do that when discussing the Internal Rate of Return. Therefore I would like to pursue my Masters in Fine Arts.


How I can do it...

I've been learning about the MFA degree conferred by NYU. I'm sure to expect lots of readings and a purchase of that thick Art History book whose name eludes me now. Oh, and they expect me to be able to read and understand both French and German. I had 1 of those down about 6 years ago, but lack of practice may as well have turned French into a dead language for me. I'm excited. It's 4 semesters and costs 42,000.

Now, I don't plan to plunge straight ahead. I need the funds to study and only have a fraction of the cost required. I may even need to borrow the remaining funds (gasp!) In any case, I'm sure I can save up to cover a significant portion of that cost. I hate interest, and don't want to give any bank the satisfaction of accruing considerable interest. In the meantime, I can dedicate myself to studying more about Art. I need to tackle the French and the German books necessary to actually be able to understand the numerous texts I'll be reading.

All great options I must say but if I pursue my MFA I'm forgoing my nice bachelor pad in Ecuador. But why shouldn't I get to do all three.