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Seems doable. If you can consistently make a reasonable 8%
Posted on: July 24, 2019 at 14:05:18 CT
Joeboo MU
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return, then there is $80,000 per year.
You'd pay taxes on the income, but assuming you could arrange the investments to fall under long-term capital gains, that's a 0% tax rate up through $38k, and only 15% on the rest, so you're effectively only paying about a 7-8% tax rate on that $80,000
Take-home of $73-$74k isn't bad. You wouldn't have the expenses associated with work (car maintenance, gas, clothing, dry cleaning, etc) and in theory you'd have more spare time to do other things for yourself rather than hiring them out (if you pay for things like lawn care, various other home maintenance, etc)
you'd have to be a bit frugal, and not spend money just because you're bored, but it's very reasonable especially if your home is paid off.
You'd pay taxes on the income, but assuming you could arrange the investments to fall under long-term capital gains, that's a 0% tax rate up through $38k, and only 15% on the rest, so you're effectively only paying about a 7-8% tax rate on that $80,000
Take-home of $73-$74k isn't bad. You wouldn't have the expenses associated with work (car maintenance, gas, clothing, dry cleaning, etc) and in theory you'd have more spare time to do other things for yourself rather than hiring them out (if you pay for things like lawn care, various other home maintenance, etc)
you'd have to be a bit frugal, and not spend money just because you're bored, but it's very reasonable especially if your home is paid off.
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Seems doable. If you can consistently make a reasonable 8% - Joeboo MU - 7/24 14:05:18