I'd just KOKO with my normal life and save/invest like anybody who has such money (i.e., throw it into mutual funds, etc.).
This is why that thread was so annoying.
The answer is not difficult.
exactly. i don't understand half of the answers in here even. guys, you don't go and BUY SHIT. if you do, you will be in the same situation you are now, but in a higher tax bracket. duh
My situation would include shit that I want but don't have now. Cool with me.
I'd just KOKO with my normal life and save/invest like anybody who has such money (i.e., throw it into mutual funds, etc.).
This is why that thread was so annoying.
The answer is not difficult.
Of course that thread is annoying. (1) She apparently has no earning track record to remember back to and must poll the internet. (2) She apparently plans to skip paying taxes and expects to be bringing home an extra $100K rather than the 40K or so she would after paying marginal taxes in Canada. Frankly, I can't think of anything except lottery winner or trust fund baby that would leave someone so flush and yet so financially clueless simultaneously.
That's why I'm asking what other people here would do. Spending money you don't have is always a fun ML poll :-)
The first year: vacations, home decor and reno--painting everything, all the camera equipment, babysitting, dinners out, entertainment--theater, art museums.
Live a little more, expand my horizons. Isn't this the real power of money? To move us forward?
It really wouldn't change anything. We'd probably do a bigger/grander yearly vacation, but that wouldn't eat up all the money. The rest would go into savings and investments.
I'd just KOKO with my normal life and save/invest like anybody who has such money (i.e., throw it into mutual funds, etc.).
This is why that thread was so annoying.
The answer is not difficult.
exactly. i don't understand half of the answers in here even. guys, you don't go and BUY SHIT. if you do, you will be in the same situation you are now, but in a higher tax bracket. duh
Well, no. I'd be in the same situation but for the vacation house I'd be putting that extra money towards.
I'd just KOKO with my normal life and save/invest like anybody who has such money (i.e., throw it into mutual funds, etc.).
This is why that thread was so annoying.
The answer is not difficult.
Of course that thread is annoying. (1) She apparently has no earning track record to remember back to and must poll the internet. (2) She apparently plans to skip paying taxes and expects to be bringing home an extra $100K rather than the 40K or so she would after paying marginal taxes in Canada. Frankly, I can't think of anything except lottery winner or trust fund baby that would leave someone so flush and yet so financially clueless simultaneously.
That's why I'm asking what other people here would do. Spending money you don't have is always a fun ML poll :-)
Even when she wasn't working, they were investing in retirement for both of them, putting money aside for the kids to go to college, and saving normally. Even if her new salary is "only" $125k or $100k, after taxes, and after new expenses, and after her husband's income, I can believe they would still have $100k leftover total. I missed what her salary is, though.
Of course that thread is annoying. (1) She apparently has no earning track record to remember back to and must poll the internet. (2) She apparently plans to skip paying taxes and expects to be bringing home an extra $100K rather than the 40K or so she would after paying marginal taxes in Canada. Frankly, I can't think of anything except lottery winner or trust fund baby that would leave someone so flush and yet so financially clueless simultaneously.
That's why I'm asking what other people here would do. Spending money you don't have is always a fun ML poll :-)
Even when she wasn't working, they were investing in retirement for both of them, putting money aside for the kids to go to college, and saving normally. Even if her new salary is "only" $125k or $100k, after taxes, and after new expenses, and after her husband's income, I can believe they would still have $100k leftover total. I missed what her salary is, though.
According to starry in the other thread, she's been talking about 150K job offers. Which, after a marginal tax rate of 35-40% nets lower than 100K. (35-40% is about what Canadian marginal federal and provincial tax rates are, or more). Add in the new daycare, house cleaning, grocery and fancier vacation expenses she mentioned I don't see how she's netting 100 or 125K. Sure, there are plenty of jobs that net that after taxes and added expenses. They pay more than $150K.
Well, that situation presented itself to us recently (not 150k but more in line with the take home figure after the weird increase in expenses?) and here is how we are going to spend the money:
-for the next 2-3 years its going into our next home DP fund. It will be invested until we need it to buy the next house. -after we buy our next home its going to pay for private school tuition if we decide not to move to the burbs.
Post by pantsparty on Aug 12, 2014 14:10:25 GMT -5
First: start a bragplaint post on ML
Second: pay off our cars, finish furnishing the house and complete our plans for our front and back yards. Then we'd probably see a financial advisor and discuss goals. Probably save some for vacations/real estate purchases and invest the rest.
The first year we would pay off all of our consumer debt ( credit cards and cars and SLs) it would actually take much less than a year to pay that off.
Then we would start looking at bigger houses in nicer towns and private schools.