Just got a 15,000 dollar raise but no life style change, WWYD? | TigerDroppings.com

Posted byMessage
Servedinafghanistan
New Orleans Saints Fan
Shalimar, Fl
Member since Feb 2005
6567 posts

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



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.






Back to top
Share:
Geaux Smoke
LSU Fan
Aspen, California
Member since Aug 2010
1977 posts

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


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


Back to top
  Replies (0)
rmc
LSU Fan
Zachary, LA
Member since Sep 2004
22547 posts

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


all on black





Back to top
  Replies (0)
shinerfan
LSU Fan
Duckworld(Earth-616)
Member since Sep 2009
5738 posts

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


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.






Back to top
Ranger198
LSU Fan
Member since Oct 2012
673 posts

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


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.





Back to top
  Replies (0)
Cold Pizza
Ohio State Fan
Member since Sep 2011
7639 posts

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


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.






Back to top
  Replies (0)
Crbello4Hiceman
LSU Fan
Lurking
Member since May 2011
438 posts

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


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.






Back to top
  Replies (0)
Will Cover
Washington Fan
Whiskey Dick Mountain, WA
Member since Mar 2007
24985 posts

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


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.







Back to top
  Replies (0)
Meauxjeaux
Memphis Fan
I have 89,367 posts with my alters
Member since Jun 2005
16991 posts

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


Set it aside for your new taxes. Congrats!





Back to top
  Replies (0)
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
80710 posts

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


Put it into an account called "Sperm Mistakes"





Back to top
  Replies (0)
Pierre
LSU Fan
Baton Rouge
Member since Nov 2005
4052 posts

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


Ok. What awesome vacation home are you buying for 1 k a month? Sharlo apartments as a football tailgate?





Back to top
Pierre
LSU Fan
Baton Rouge
Member since Nov 2005
4052 posts

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


Pay taxes and debt. Congrats





Back to top
  Replies (0)
shinerfan
LSU Fan
Duckworld(Earth-616)
Member since Sep 2009
5738 posts

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


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.






Back to top
Pierre
LSU Fan
Baton Rouge
Member since Nov 2005
4052 posts

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


Upkeep, property taxes, insurance ect... 15 k won't cut it.





Back to top
jmtigers
Southern Miss Fan
1826.71 miles from USC
Member since Sep 2003
3625 posts

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


Vacation Homes and Camps = Life style changes.





Back to top
  Replies (0)
TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16897 posts
 Online 

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


Pile cash.

Success in business is where opportunity and liquidity collide.






Back to top
  Replies (0)
bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
27076 posts

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


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






Back to top
  Replies (0)
jmarto1
LSU Fan
Houma, LA
Member since Mar 2008
14179 posts

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


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.






Back to top
  Replies (0)
BallyHOO
Belmont Fan
Member since Oct 2005
6635 posts

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


It'll go quicker than you think...just build up a higher 'emergency' account.





Back to top
  Replies (0)


Back to top