What would you do with $1.5 million? (spinoff)

[RamblingMad]

Yes, TG will be more expensive for sure. But....have to say that the jobs number looked pretty good today, and the last two months were revised upwards. I really do think a lot more people are entering the workforce as savings and/or some of the pandemic safety net programs end. We're definitely not seeing any signs of stagflation with those numbers. So...hopefully we'll see some improvement on the inflation front next year.

And while I know we're all feeling it a bit as far as inflation goes, I'm sure a lot of your are noticing that our 401k/retirement investments are looking pretty sweet....for us, the best ever. I'm expecting a correction as some point...but hoping it won't be too bad.

My portfolio grew more than I make each year. It's been a good year. But everything has gotten so expensive. There is no way I'm going to get a salary increase that keeps up with 4% inflation.

I've read that inflation will remain around 4%.

 

[Starport Seven-Five]

My portfolio grew more than I make each year. It's been a good year. But everything has gotten so expensive. There is no way I'm going to get a salary increase that keeps up with 4% inflation.

I've read that inflation will remain around 4%.

Then you need to give this feedback to your employer.

 

[robinb]

I would buy a home down in Florida for retirement. I would set aside about $20k for a cruise to Alaska with my daughter and her boyfriend. I would invest the rest.

 

[ScottOKW2K]

A Fast car, an Old Scotch and a young woman,

Probable waste the rest

( An old joke, but I'm an old guy ! )

 

[MillauFr]

My portfolio grew more than I make each year. It's been a good year. But everything has gotten so expensive. There is no way I'm going to get a salary increase that keeps up with 4% inflation.

I've read that inflation will remain around 4%.

Why wouldn't you get a 4% salary increase? Start applying for other jobs that pay more then.

 

[dvcgirl67]

Why wouldn't you get a 4% salary increase? Start applying for other jobs that pay more then.

Well, I think it depends on where one works...etc. For my husband's company there's a range of 2-4% and those who are at the higher end of earning scale sometimes get less. This happens with my husband's raise each year. They tend to make it up to people at his scale in annual stock grants and in his bonus. In 2020 I believe he only got a 2% raise, but much a much larger bonus and a lot more stock. For my small business...I'm raising prices for sure in January.

 

[MillauFr]

Well, I think it depends on where one works...etc.

If people start leaving they will be forced to raise salaries.

 

[JimMIA]

My portfolio grew more than I make each year. It's been a good year. But everything has gotten so expensive.

Don't pay much attention to that, because the last several years have been very unusual (in a good way).

You will not see those returns consistently, and counting on recent history is probably the worst mistake an investor could possibly make.

 

[QueenIsabella]

Don't pay much attention to that, because the last several years have been very unusual (in a good way).

You will not see those returns consistently, and counting on recent history is probably the worst mistake an investor could possibly make.

Very true! My kids have some money, left to them by their grandmother. The math is super easy, so we know it's gone up 30% over the past 4 years. While the kids are thrilled, it's not going to be like that every year. What we try to emphasize is, we're investing for the long term (youngest kid won't get full access for another 15 years), and the best thing to do is just leave it alone.

 

[Starport Seven-Five]

Well, I think it depends on where one works...etc. For my husband's company there's a range of 2-4% and those who are at the higher end of earning scale sometimes get less. This happens with my husband's raise each year. They tend to make it up to people at his scale in annual stock grants and in his bonus. In 2020 I believe he only got a 2% raise, but much a much larger bonus and a lot more stock. For my small business...I'm raising prices for sure in January.

Every time I've put in a resignation letter, the company was instantly willing to give me 10-15k more.

"Ranges" only exist for people who don't make noise.

 

[punkin]

I'd pay off my mortgage and buy a new car (my 2 cars are 2008 and 2014). I think I would have very little left after that... maybe I could pay off "some" of my children's student debt.

 

[dvcgirl67]

Every time I've put in a resignation letter, the company was instantly willing to give me 10-15k more.

"Ranges" only exist for people who don't make noise.

I hear what you're saying, but he negotiated really really well when he joined the company in 2018. At that time, he was told that he'd be on the lower end of the raise range due to that....because he can't have a base salary that is higher than for example...and exec VP, who has a ton more direct reports, has to travel....etc. He doesn't have those extra headaches. They did tell him that they could reward him through additional annual stock grants and through his bonus, which they've really honored. As a new employee he was entitled to two weeks vacation, but that would never work and so he negotiated five weeks. So I guess he was squeaky enough at the beginning to make it matter.

 

[dvcgirl67]

If people start leaving they will be forced to raise salaries.

Of course, I think that works in certain work environments. I know there were lots of strikes in October, which is great when workers are exploited, mistreated and underpaid. I recently read the book American Made by Farrah Stockman, which follows three workers in Indiana after their plant closes and their jobs are moved to Mexico. The most any of them had ever made for these really taxing and challenging physical jobs was $28. And that was the high bar....it has come down in recent years. Folks in that position should absolutely be striking...or any job where they feel undervalued. My DH has been a software engineer for his working career. They call him a "software architect" at the new Fortune 100 company where he works. He works for this west coast company from his office in our NJ home (has worked remotely since 2005). He's well compensated and so he'll never threaten to leave to get a raise....his company pays him fairly. But we're both all for workers fighting to get what they deserve....both of our fathers worked in jobs where they went out on strike. But for my husband to strike...it would be like the engineers at Apple, Google...etc, staging a walk out. Everyone would just laugh at them and say..."yeah, ok...we don't feel sorry for you people". .

 

[Mackenzie Click-Mickelson]

*American Thanksgiving.

Well there ya go, a perfect opportunity to use the phrase taken from the other thread

 

[Mackenzie Click-Mickelson]

I'd pay down debts first which are pretty much student loan and mortgage.

Because of my age I'd be saving a portion of it and then investing (hopefully wisely) the rest. It's not enough to not have any other income for long in reality but not having a monthly mortgage would help in the month to month finances although insurance and taxes will still be present

 

[tinatark]

Torn between adding a small apartment complex or caribbean getaway to my real estate portfolio!

 

[mrodgers]

Oh I love posts like this on here. Gives everyone a chance to show off how debt free they are!!! So much fun.

Don't forget the bragging about how much their house is worth or the rent they pay.


It would simply replace my salary which isn't where I would want to be at retiring young. I would invest and take a portion to help me out until I can retire. Give myself a 25% raise from interest and leave the other 75%. I would be comfortable at that point. Maybe retire at 60.

 

[mrodgers]

Also notice how none of us had health-insurance premiums calculated into our long-term financial plans.

Don't know about further, but up to your post I don't think anyone said they could quit working over it, thus health insurance premium situation wouldn't change. I would still be getting my health insurance through work.

 

[Donald13]

I'm not debt-free, nor is attaining it {{gasp }} my highest priority. I don't really care what others think about that though, nor do I begrudge anybody managing their money differently. I don't ask internet strangers for financial advice nor do I give it, unsolicited. Oh, and we lease our cars - try admitting that in a DIS discussion about finances.

What??? You have d-d-d-debt??? And a car lease?? How dare you… don’t you know other people have had cars for 9382 years and they are in tip top shape and completely paid off… you should too… strangers on the internet are right. Lol. We have debt too… and we go on vacation!! Yes vacation. But I never talk about our finances on here… too many know it all’s

 

[Donald13]

And fwiw, we’d pay off our house and make whatever improvements we wanted to. And also put money towards our kids college funds. Save what we could.