So much paper right in front of me it’s hard to think Buy so many bottles it’s gon’ be hard to drink
https://www.weforum.org/agenda/2018/02/heres-how-americans-quantify-success
Married, 2 kids, 4 friends, Bachelors, 147k income, working 31 hrs/week, commuting 10 minutes away, but ideally working at home, with 5.3 weeks of vacation days, travelling 3x a year, with a house worth 461k, and a car worth 41k.
Watchu think, Nery. Are these reasonable or hacksaw? Can you outweigh one with another, like if you are a “$35k millionaire” and drive a BMW but have no savings and live in a slum, does the car make up for those other things? Maybe it should be $45k millionaire now with inflation, amiright?
Working 31 hours a week???!
most are reasonable. hours and vacation days is kind of not. also buying an expensive car is not all its cracked up to be. there are benefits but imo its not worth it. you really appreciate the benefits when it is already a huge sunk cost. lol FLOSS BABY FLOSS!
anyways 45k… i made over that shit in passive income last year bruh.
munis?
Not to the IRS. IRS defines capital gains and investment income in a separate category from passive income, which would include passive stakes in businesses, rental income, royalties, and other things like that. They cannot be deducted against one another for tax purposes. Greenman would know.
That is the beauty of investing. Capital gains are never taxed until sold!
rental income however is like ordinary income. You can deduct a lot though including depreciation, bit expense with no cap if you treat as a business. so for the most part rental income is negated and fully offset.
Most real estate properties on paper actually lose money which is then used to offset high income. But in terms of cash flow, you are positive, not to mention your property is appreciating.
never sell! Always refinance!
Amen! It’s a gift that keeps on giving if you play your cards right!