Green Light to Spend (Canada, community, retirees, psycho)
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There is a line where it is diminishing returns ...it can be very easy to enjoy 50k when your income and assets are way lower ...the higher your income and assets the more of those things you already are doing ....
There is also a point where in my opinion having the assets and not truly taking advantage of them becomes a shame ...a body at rest stays at rest so doing just the same ole and not ever doing beyond or going beyond to me is a waste of assets as well ...
If standing on the street corner and giving some away to homeless gave me pleasure then I would do it if I could not find a way I would enjoy spending more
In my case, I have nieces and nephews under the age of 10. The way this country is headed, they can make way better use of that money than I can at my age.
There is a line where it is diminishing returns ...it can be very easy to enjoy 50k when your income and assets are way lower ...the higher your income and assets the more of those things you already are doing ....
There is also a point where in my opinion having the assets and not truly taking advantage of them becomes a shame ...a body at rest stays at rest so doing just the same ole and not ever doing beyond or going beyond to me is a waste of assets as well ...
If standing on the street corner and giving some away to homeless gave me pleasure then I would do it if I could not find a way I would enjoy spending more
I don’t always believe everything I read online either. If somebody doesn’t notice 50k, why do they worry about ACA subsidy and insist on taking SS at 62. It’s peanuts to me if that’s the case.
Last edited by NewbieHere; 02-19-2020 at 03:12 PM..
I don’t always believe everything I read online either. If somebody doesn’t notice 50k, why do they worry about ACA subsidy and insist on taking SS at 62. It’s peanuts to me.p if that’s the case.
Very Good point ... 50k is nothing to them because they have millions , but they will do all they can to manipulate their income to get an aca subsidy on insurance .....
Very Good point ... 50k is nothing to them because they have millions , but they will do all they can to manipulate their income to get an aca subsidy on insurance .....
It’s called maximizing your net worth. People like myself who aren’t inclined to spend every penny tend to succeed at it.
And haven’t you admitted that you missed the chance to get an ACA subsidy? Sounds like you would take one with your millions too. For what it’s worth, I admit I basically lucked into being in a position to take advantage of a stupid government policy. But does the fact that I got lucky mean I should not take the subsidy?
Maybe you shouldn’t have accepted the inheritance from your second wife’s first husband’s estate.
It’s called maximizing your net worth. People like myself who aren’t inclined to spend every penny tend to succeed at it.
And haven’t you admitted that you missed the chance to get an ACA subsidy? Sounds like you would take one with your millions too. For what it’s worth, I admit I basically lucked into being in a position to take advantage of a stupid government policy. But does the fact that I got lucky mean I should not take the subsidy?
Maybe you shouldn’t have accepted the inheritance from your second wife’s first husband’s estate.
See how ridiculous that sounds?
Big difference though in what was said here .
Yes I missed the ability to get an aca subsidy and I appreciate every dollar we earn or can get because we enjoy whatever we can spend ....
if you doubled our budget we would just find a way to enjoy it ...so unlike what you said about 50k not mattering to you , yet an aca subsidy does , I say it certainly would matter to me, just like all money we make or get matters to us .
By the way we didn’t get an inheritance..as I explained many times there was a defect in the will and trust and we had to buy out the estranged step children, in an out of court settlement so basically we ended up buying a business....the judge told us it would be in our interest to buy them out rather than wait for his verdict which we may not like at all
Last edited by mathjak107; 02-19-2020 at 04:11 PM..
Maximize your networth is also a farce, I thought somebody said they will donate all their money to charity. Luck or lie, who knows. I wish somebody don’t repeat that lie ad nauseam.
Yes I missed the ability to get an aca subsidy and I appreciate every dollar we earn or can get because we enjoy whatever we can spend ....
if you doubled our budget we would just find a way to enjoy it ...so unlike what you said about 50k not mattering to you , yet an aca subsidy does , I say it certainly would matter to me, just like all money we make or get matters to us .
By the way we didn’t get an inheritance..as I explained many times there was a defect in the will and trust and we had to buy out the estranged step children, in an out of court settlement so basically we ended up buying a business....the judge told us it would be in our interest to buy them out rather than wait for his verdict which we may not like at all
I didn’t say 50k wouldn’t matter, I said I wouldn’t notice. My stock holdings went up more than 50k today, and it was just a ho hum day in the markets. That’s what I was trying to convey....I wouldn’t be anxiously awaiting my 50k gift every year.
If it really wasn’t an inheritance, then you should have sued Money Magazine, because anyone with a 3rd grade reading comprehension level read that article and thought you dramatically increased your networth late in life due to inheritance. In fact, iirc, it was actually called an inheritance in the article.
I didn’t say 50k wouldn’t matter, I said I wouldn’t notice. My stock holdings went up more than 50k today, and it was just a ho hum day in the markets. That’s what I was trying to convey....I wouldn’t be anxiously awaiting my 50k gift every year.
If it really wasn’t an inheritance, then you should have sued Money Magazine, because anyone with a 3rd grade reading comprehension level read that article and thought you dramatically increased your networth late in life due to inheritance. In fact, iirc, it was actually called an inheritance in the article.
That is our point ..50k is so trivial to you that you wouldn’t notice it , yet you go to great lengths to make sure you get the aca subsidy..just sayin —. The logic there makes little sense and no you can’t try to explain it a way ....
I didn’t say 50k wouldn’t matter, I said I wouldn’t notice. My stock holdings went up more than 50k today, and it was just a ho hum day in the markets. That’s what I was trying to convey....I wouldn’t be anxiously awaiting my 50k gift every year.
If it really wasn’t an inheritance, then you should have sued Money Magazine, because anyone with a 3rd grade reading comprehension level read that article and thought you dramatically increased your networth late in life due to inheritance. In fact, iirc, it was actually called an inheritance in the article.
Money magazine was off In what they said because it was a very complex situation to explain so they just described it simply as an inheritance, but we never saw it until it was already published or we would have had them go a little more in to detail . But it was irrelevant in the scheme of things so we did not really care how it read ... the article was about me vs their pros in planning , not how or where money came from
If we had a chance to get more in to it with them ,it would be only to show the dangers of trying to do wills and trusts on the cheap either by yourself or with an attorney who is not a specialist in that field .
The documents which the court declared defective created a legal horror ....
It cost us 400k in a buy out plus 100k in legal fees to resolve..
In fact we are still being plagued with the bad paper work ...we have to see a tax attorney To fix a big mess now that we are dissolving the Llc .... we have to see how the attorney wants to handle our cost basis because it is a complex mess more than a decade later ...
Two CPA’s told us we should see a tax attorney for the best way to proceed so just waiting for the LLC to produce the k1’s and we will see what the attorney comes up with .
Last edited by mathjak107; 02-19-2020 at 03:55 PM..
That is our point ..50k is so trivial to you that you wouldn’t notice it , yet you go to great lengths to make sure you get the aca subsidy..just sayin —. The logic there makes little sense and no you can’t try to explain it a way ....
I don’t go to any lengths to get the ACA subsidy. I’m not a spender. I have no debt. I spend in the neighborhood of 35k a year.
I made most of my money in individual tech stocks. That’s where most has remained. No interest, virtually no dividends means the only “income” is Long term cap gains. Even if 99% of my stock holdings is unrealized cap gains in taxable accounts (which it isn’t, not even close) if I needed 35k a year spending money, I’d still fall under the ACA line.
See? No effort. Lucky to have been in this position when ACA started.
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