How much money do you need to make to spend

brunswickreeves · #1 09-01-2025, 02:05 PM

$267K Gross Income�

Assuming your first need to save the $40K (not taking a loan for it) over 1 year, which is $3.3K per month. If your Gross Income was $267K and discretionary spending availability was 15% after 401K outlay to receive company match, plus all other OpEx, Taxes, Emergency Fund, Fun/Blow Money, etc.).

BioCRN · #2 09-01-2025, 03:01 PM

Quote:

Originally Posted by brunswickreeves

$267K Gross Income�

Assuming your first need to save the $40K (not taking a loan for it) over 1 year, which is $3.3K per month. If your Gross Income was $267K and discretionary spending availability was 15% after 401K outlay to receive company match, plus all other OpEx, Taxes, Emergency Fund, Fun/Blow Money, etc.).

Counterpoint: Open 3 new credit cards with introductory low APR rate, spread purchase out between the 3 of them, stalk out Target, Walmart, and Costco for Pokemon restocks, fight other strangers wearing socks with sandals for the restock, sell on Ebay, repeat for the next 6 months trying to outrun the higher APR kicking in, realize you've barely made a dent in it, don't pay and wait for collections to call, change phone number, wait for the threat of having your wages garnished, sell the card at a 10K loss because you need the money now.

brunswickreeves · #3 09-01-2025, 03:12 PM

Maybe the loss could be written off (shrugging shoulders)�

raulus · #4 09-01-2025, 03:16 PM

Quote:

Originally Posted by brunswickreeves

Maybe the loss could be written off (shrugging shoulders)�

Only if you�re a dealer or an investor. And even then, as an investor, the loss gets limited like any other capital loss.

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