What do you do with that high TC?

Intel Intel-guy
Oct 3 26 Comments

Hello peeps,

Just curious and to start a conversation and may be collect some interesting (out of the box) data points - what do folks with high TC do with all that money after spending for the basics? Let me define "high" here as $350K+ though I am sure there are a ton of them much higher than that - and you are welcome to add your inputs as well :). Also adding a poll, in case folks prefer that, you can select multiple options. If your option does not show in the poll - feel free to type on...

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TOP 26 Comments
  • Salesforce Morphisms
    I started a nonprofit
    Oct 3 3
    • Intel Intel-guy
      OP
      Love that!
      Oct 3
    • Salesforce Morphisms
      I also foster lots of animals, which is something only enabled by high TC. So that's also cool and fun
      Oct 3
    • CBT Nuggets IAmDBest
      The world needs more people like you!
      Oct 4
  • Google / Eng
    .:

    Google Eng

    PRE
    Samsung Electronics
    .:more
    Pay for your Medicare, Medicaid, food stamps, roads.
    Also, send troops to bomb countries; recently started to diversify in this area.
    Buy our politicians yachts and help them play golf.
    Oct 3 4
    • Intel Intel-guy
      OP
      Lol... All that comes under the single bucket called "taxes", in my view😅. But you are right!
      Oct 4
    • Google / Eng
      .:

      Google Eng

      PRE
      Samsung Electronics
      .:more
      All of them are indeed called taxes, but not one bucket my friend.

      Do a thought experiment. Imagine there was no kind of taxes, no income tax, no sales tax, no import or export taxes. Now take a thing that you've to pay "x" dollars as upfront price. Without the taxes it would have costed (x-a)$. And because of income tax you need to earn (x+b)$ to buy that. So, (a+b)/x percent of your money goes directly to taxes. Even just accounting for income and sales taxes, almost half goes to taxes.
      Oct 4
    • Intel Intel-guy
      OP
      Totally agree. And I always wonder that when I pay income taxes on my earned money then why do I get taxed while spending it! It just feels double taxation...
      Oct 4
    • Google / Eng
      .:

      Google Eng

      PRE
      Samsung Electronics
      .:more
      It's not just double taxation my dear. There are many more taxes that you indirectly pay for. Every product you buy is made of some other things that the producers had to pay taxes on, plus property taxes, employee taxes and so on -- all of those gets wrapped in the "price".

      I always wonder what portion of my spendings actually end up in taxes. Is there a comprehensive study on this 💭
      Oct 4
  • Apple Shouldyou?
    Attract lot of fresh pink tacos
    Oct 3 1
    • Intel Intel-guy
      OP
      Haha... you could write a post on that :)
      Oct 3
  • Apple YEgf85
    Raise family, cost of which tracks surprisingly well to increasing TC over the years
    Oct 3 1
  • Uber sarcool
    We are a family of 4 and need a minimum of 400k to run the household comfortably with about 36k in savings. This when our house cost is low, kids go to public school. Kids after school classes, nanny and travel contributes the most to the budget. If you are SITK its difficult to save much. Btw travel budget is 25k per year.
    Oct 3 4
    • Intel Intel-guy
      OP
      Sweet. I think you are investing in the right things.... Your kids and experiences! But how with public school do your expenses add up so high? Are you sitk? I envy your travel budget BTW 😜
      Oct 3
    • Uber sarcool
      I said 'comfortably'. In struggle mode it could be higher savings. Restaurants, shopping, after school, utilities all adds up.
      Oct 4
    • Uber sarcool
      Also went from dink to diok to SITK and expenses stayed the same or increased.
      Oct 4
    • Intel Intel-guy
      OP
      That's understandable... YOLO so why not make it the best! The spouse must be happy for sure 🙂
      Oct 4
  • Google L00nie
    With that TC I'd be ripping Robinhood yolo bets / income.portfolio on the side. Most would still be in a diversified portfolio of ETFs
    Oct 3 0
  • Google / Eng
    चाचा चौधरी

    Google Eng

    BIO
    🤓💋चौधरीकोइँन H Y P E 🤓💋
    चाचा चौधरीmore
    Oct 3 2
    • Microsoft / Product Garrie
      You shall remain single, with out any doubt!
      Oct 3
    • Intel Intel-guy
      OP
      Lol... Your handle!
      Oct 3
  • Apple spoke
    350k... and STILL struggling.
    Oct 3 1
  • Amazon Yo Yo !
    What do u mean basics ? They change all the time.
    My basics used to cost only $500 per month couple of years ago.
    Now, it’s about $5000 and it grows as I grow.
    Oct 3 1
    • Intel Intel-guy
      OP
      Good point. Basics = Food, clothing, shelter and a bit more in the electronics jungle - utilities, entertainment, etc. - but you get the point!
      Oct 3

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