Just got a 15,000 dollar raise but no life style change, WWYD?
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Just got a 15,000 dollar raise but no life style change, WWYD?
Posted by Servedinafghanistan on 12/7 at 6:21 am
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.


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Posted by Geaux Smoke on 12/7 at 6:51 am to Servedinafghanistan
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 raise


This post was edited on 12/7 at 7:09 am

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Posted by rmc on 12/7 at 7:13 am to Servedinafghanistan
all on black


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Posted by shinerfan on 12/7 at 7:33 am to Servedinafghanistan
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.



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Posted by Ranger198 on 12/7 at 7:38 am to Servedinafghanistan
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.


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Posted by Cold Pizza on 12/7 at 8:08 am to Servedinafghanistan
quote:

Just got a 15,000 dollar raise and I want to brag about it.




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.



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Posted by Crbello4Hiceman on 12/7 at 8:19 am to Servedinafghanistan
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.



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Posted by Will Cover on 12/7 at 8:56 am to Servedinafghanistan
quote:

Just got a 15,000 dollar raise but no life style change, WWYD?


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.




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Posted by Meauxjeaux on 12/7 at 9:05 am to Servedinafghanistan
Set it aside for your new taxes. Congrats!


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Posted by Chad504boy on 12/7 at 9:34 am to Servedinafghanistan
Put it into an account called "Sperm Mistakes"


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Posted by Pierre on 12/7 at 9:41 am to shinerfan
Ok. What awesome vacation home are you buying for 1 k a month? Sharlo apartments as a football tailgate?


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Posted by Pierre on 12/7 at 9:42 am to Pierre
Pay taxes and debt. Congrats


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Posted by shinerfan on 12/7 at 9:54 am to Pierre
quote:

Ok. What awesome vacation home are you buying for 1 k a month?



Awesome is your word but there are nice lake houses all across the south going for well under $200,000 right now.



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Posted by Pierre on 12/7 at 10:15 am to shinerfan
Upkeep, property taxes, insurance ect... 15 k won't cut it.


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Posted by jmtigers on 12/7 at 10:23 am to Pierre
Vacation Homes and Camps = Life style changes.


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Posted by TheHiddenFlask on 12/7 at 10:52 am to Servedinafghanistan
Pile cash.

Success in business is where opportunity and liquidity collide.



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Posted by bryso on 12/8 at 12:07 pm to shinerfan
quote:

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.


I thought I was on the OT for a second



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Posted by jmarto1 on 12/8 at 11:07 pm to Servedinafghanistan
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.



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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.


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