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re: *Updated* Life changing income about to happen and I need advice

Posted on 5/15/20 at 10:21 am to
Posted by tissle
Member since Jul 2009
1954 posts
Posted on 5/15/20 at 10:21 am to
quote:

Is your wife's name Heather?



hahahha.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72734 posts
Posted on 5/15/20 at 10:23 am to
quote:

You can prove your manhood in other ways.




UFC? pornhub?
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1943 posts
Posted on 5/15/20 at 10:38 am to
Ron Cheramie, it is funny how you examined that. When we were first married, my wife always said it is not "your money" and "my money"....its OUR money.

Now that the shoes on the other foot I am interested in how that is going to go!
Posted by Lsutiger2424
Member since Dec 2016
989 posts
Posted on 5/15/20 at 10:50 am to
How are you going to ask for help but refuse to give the details needed to assess your situation?
Posted by lsutiger2010
Member since Aug 2008
14790 posts
Posted on 5/15/20 at 10:53 am to
(no message)
This post was edited on 10/18/21 at 4:47 pm
Posted by lsuguy13
RIP MATT
Member since Mar 2004
9509 posts
Posted on 5/15/20 at 10:56 am to
What’s the business
Posted by tokenBoiler
Lafayette, Indiana
Member since Aug 2012
4416 posts
Posted on 5/15/20 at 11:03 am to
quote:

I need ideas. Anyone willing to share what they would do in my situation?


I would post the link to her webcam.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72734 posts
Posted on 5/15/20 at 11:07 am to
quote:

How are you going to ask for help but refuse to give the details needed to assess your situation?



dude, this is classic money board tactics. at least he was not a hit n run poster like many thread starters here. once asked questions they run away realizing how foolish they looked. This guy is still here but refuses to answer for any help. oh well!

Posted by Mariner
Mandeville, LA
Member since Jul 2009
1943 posts
Posted on 5/15/20 at 11:09 am to
Thanks Baldona.

Right now we are looking at her taking in $500K. Two months ago we projected $60k for the year. It is still growing and lately her prospects may take it to 7 figures by early next year.

For the previous poster who stated to lead by example by marrying right, etc. Never thought of it that way. Thanks. I grew up where if you were not up by 7:30 and sweating by 9, you were a bum.

She is in sales.

My subordinate at work who is extremely overqualified told me his plan of doing something new a year ago and his ideas. His brother sells ans manages those credit card swipers at grocery and box stores. He pulls in $500 k from that. He told me that there is a ton of money out there floating around. Now I believe it.
This post was edited on 5/15/20 at 11:15 am
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123945 posts
Posted on 5/15/20 at 11:10 am to
quote:

Anyone willing to share what they would do in my situation?
Choose your new path very carefully. The grass is always greener in the other guys yard. Choose something you would enjoy, be good at, dedicated yourself to, and which would contribute to your partnership. If you are good at investing perhaps that's the ticket.

Investment management from home worked well for us. We still hold about half our assets in portfolios MsNC manages. It's dead center in her wheelhouse though, and she's damn good at it. The rub is, if you're not good, your family will lose ground relative to professionally managed accounts. With the laissez-faire approach your OP suggests, it's a precept which would grow old quickly.
Posted by The Mick
Member since Oct 2010
43143 posts
Posted on 5/15/20 at 11:16 am to
If I were you, I'd stop counting chickens and see what happens with her business before planning how to spend hypothetical money and quitting your job.

I was making a ton of money in my early 30's, talking about retiring by 40 and doing fun things. Just when you think income will continue at that level, shite happens.
Posted by Mariner
Mandeville, LA
Member since Jul 2009
1943 posts
Posted on 5/15/20 at 11:21 am to
quote:

Get on a fire department, work 10 days a month, good insurance, and good retirement. Assuming you are young



Thanks. I have firefighting training and plan out and execute fire scenarios weekly so that is a good gig.
Posted by sacrathetic
Member since May 2019
618 posts
Posted on 5/15/20 at 12:42 pm to
nm
This post was edited on 5/21/20 at 1:56 pm
Posted by thegreatboudini
Member since Oct 2008
6457 posts
Posted on 5/15/20 at 1:47 pm to
quote:

I grew up where if you were not up by 7:30 and sweating by 9, you were a bum.


wut?

You’re a POS if you sleep till 7:30 IMO.
Posted by ShootingsBricks4Life
Member since May 2017
2601 posts
Posted on 5/15/20 at 2:11 pm to
quote:

You’re a POS if you sleep
Posted by BZ504
Texas
Member since Oct 2005
9479 posts
Posted on 5/15/20 at 2:21 pm to
Bitcoin
Posted by baldona
Florida
Member since Feb 2016
20483 posts
Posted on 5/15/20 at 2:37 pm to
quote:

Right now we are looking at her taking in $500K. Two months ago we projected $60k for the year. I grew up where if you were not up by 7:30 and sweating by 9, you were a bum.

She is in sales.



What's your current household income?

I would absolutely not plan on moving right now until you get a shite ton of money in the bank. After taxes and let's say you put $100k in the bank, you don't have a lot of money left every year to really splurge.

DON'T make the mistake of going bankrupt here because you overspend due to 2-3 years of great income and then expect that lifestyle to continue.

I'd figure out a way to budget a ton of savings and then budget out specific amount to splurge on. Let her buy a new car, or a nice vacation, or whatever. Live normally for 2-3 more years for the most part.
Posted by iknowmorethanyou
Paydirt
Member since Jul 2007
6548 posts
Posted on 5/15/20 at 2:47 pm to
Just make sure to pre-rinse the dishes before loading the dishwasher.
Posted by makersmark1
earth
Member since Oct 2011
15892 posts
Posted on 5/15/20 at 2:52 pm to
If her business is sort of webcam based, you could be involved in content directed to a different audience.
Posted by JDPndahizzy
JDP
Member since Nov 2013
6446 posts
Posted on 5/15/20 at 3:02 pm to
quote:

She is in sales.


Ok, now we know it is internet based and she is in sales. Why not say what it is? You might be looking at potential sales for her...

500k is a lot of money but not as much as you think once you pay taxes, start buying new toys and upgrading stuff.
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