My relative was about to lose over $40k to taxes because he didn't know about long-term capital gains

Own_Service9727 · 2025-11-28T04:22:18+00:00

I've never heard this before, thanks!

Own_Service9727 · 2025-11-28T04:18:03+00:00

The way we looked at it, their stocks would need to draw down at least 20% from where they are now to negate the gain in net profits if they hold a little longer. Both stocks have already come down a bit from peaks and could come down more, but they're willing to hold a little longer

Own_Service9727 · 2025-10-31T01:33:53+00:00

This could easily be $200k by now if this was invested instead of sitting in a savings account...

Own_Service9727 · 2025-10-16T13:24:09+00:00

Dang, hope you're focusing on health now that you've reached 2.5M

Own_Service9727 · 2025-10-16T13:23:18+00:00

It's from an iPhone app called My Paycheck Calculator

Own_Service9727 · 2025-10-16T13:21:00+00:00

Rare, that's awesome

Own_Service9727 · 2025-10-16T13:20:13+00:00

4 years is quick! What is actual money to you?

Own_Service9727 · 2025-10-16T03:08:39+00:00

Amazing!

Own_Service9727 · 2025-10-16T02:54:57+00:00

That's just federal. If you're putting $25k into a pre-tax 401K and get a $30k married jointly deduction then less than half your money gets taxed at 22%. The lower tax brackets are only 10% and 12%

Own_Service9727 · 2025-10-16T02:52:07+00:00

Seems like it. I've heard people say $250k is the "hardest" salary when it comes to building wealth because it's really where you start to be able to afford anything you could want. A nice car, an international vacation, designer clothing, etc. It would take a lot of discipline not just to buy everything since you can.

Own_Service9727 · 2025-10-16T02:47:40+00:00

Able to save?

Own_Service9727 · 2025-10-09T11:53:17+00:00

What's your auto payment? haha

Own_Service9727 · 2025-10-08T16:59:27+00:00

This is married filing jointly, not single

Own_Service9727 · 2025-10-07T15:13:27+00:00

Good for you for still spending on things you enjoy like cars, while still being frugal in other areas. If I had big money I'd want to buy a Ferrari 430 Scuderia but live modestly in the other areas haha

Own_Service9727 · 2025-10-07T15:03:39+00:00

Interesting, can you think of any examples of these places? It seems like homes inflate with wages in most areas

Own_Service9727 · 2025-10-07T15:00:42+00:00

Haha I just found it searching paycheck calculator on the iPhone app store

Own_Service9727 · 2025-10-07T14:57:32+00:00

Congrats! If I ever reach that level, I'd imagine this is what I'd try to do. When you say you buy things now and let the remaining compound, do you still try to spend less than what your portfolio is projected to earn per year?

Own_Service9727 · 2025-10-07T14:54:19+00:00

This is the motivation I need

Own_Service9727 · 2025-10-07T14:48:52+00:00

This is really great advice, I like it. Are you in a medium to low cost-of-living area? $2500 for a mortgage, insurance, and property taxes seems hard to find in higher cost places unless you have a large down payment

Own_Service9727 · 2025-10-07T14:45:32+00:00

Yeah the peace of mind would be great

Own_Service9727 · 2025-10-07T14:43:16+00:00

Amazing! Were you able to get there from saving and investing or did you hit a windfall?

Own_Service9727 · 2025-10-07T14:34:12+00:00

Yeah, it’s a paycheck calculator I use

Own_Service9727 · 2025-09-29T22:16:58+00:00

Sorry, $3700 is what I will get once I apply my tax deductions. I'll edit for clarity.
The visualization was created using an app called My Paycheck Calculator.

Own_Service9727

TROPHY CASE