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| Just got a 15,000 dollar raise but no life style change, WWYD? Posted by Servedinafghanistan I know I will see a higher tax bracket, but what would you do with an extra grand a month beside hookers and blow? Serious question. on 12/7 at 6:21 amReply • Back to Top |
invest it brother. it's amazing what seemingly small sums of money turn into over a 20-25 year period. congrats on the raise  ETA: i know my answer gave no specifics. sorry, i don't know enough to give you a well-informed answer.  but again, congrats on the raiseThis post was edited on 12/7 at 7:09 am Reply • Back to Top |
| all on black Reply • Back to Top |
| Once I'm done with the hookers and blow I'd probably have enough left over for a nice hat. A newsboy, maybe? Seriously though, its a buyer's market for vacation homes. Something that could stay in your family for generations. And you could always rationalize it as being important for entertaining clients and general networking. Reply • Back to Top |
| After the hookers and blow, short duration high yield bonds, with some. Then like someone else said possibly a camp, if you like to fish and hunt. Reply • Back to Top |
quote:  Max out your company and personal retirement accounts, pay off CC's, vehicles, misc. After that just put it in a taxable account I guess. Reply • Back to Top |
| It's funny because $15k always feels like such a big bump but the tax man will rock you world and it is always a downer how little of a raise we actually get to keep. If you don't feel like trying to learn the intricacies of the stock market, in order I would: 1) pay down credit card debt if applicable 2) save up a nest egg/ emergency fund. 6 months of total living expenses is a good start. 3) pay down tax-deductible interest debt (student loans/home loans) 4) invest whatever you don't want to use for #3 in an index fund (S&P 500 etc). Research for one with low fees. Index funds typically have a good long-run return and you can sleep on it and not watch the market daily like the rest of us schmucks. Reply • Back to Top |
quote: If you have little to no debt, make sure you are maximizing your 401(k) and setting up an additional ROTH 401(k) or IRA. Reply • Back to Top |
| Set it aside for your new taxes. Congrats! Reply • Back to Top |
| Put it into an account called "Sperm Mistakes" Reply • Back to Top |
| Ok. What awesome vacation home are you buying for 1 k a month? Sharlo apartments as a football tailgate? Reply • Back to Top |
| Pay taxes and debt. Congrats Reply • Back to Top |
quote: Awesome is your word but there are nice lake houses all across the south going for well under $200,000 right now. Reply • Back to Top |
| Upkeep, property taxes, insurance ect... 15 k won't cut it. Reply • Back to Top |
| Vacation Homes and Camps = Life style changes. Reply • Back to Top |
| Pile cash. Success in business is where opportunity and liquidity collide. Reply • Back to Top |
quote: I thought I was on the OT for a second Reply • Back to Top |
| 1. Hookers and Blow. Not even joking. Whatever your vice is go indulge and get it out of your system. 2. Now that you've gotten that out of your system get serious about investing. Reply • Back to Top |
Posted by BallyHOO on 12/24 at 2:22 pm to Servedinafghanistan It'll go quicker than you think...just build up a higher 'emergency' account.Reply • Back to Top • Refresh |
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