4 ms·

I have the six figure income and don't really spend much of it on anything. Like what could I possibly spend that much money on? Go out and get the most expensi

I have the six figure income and don't really spend much of it on anything. Like what could I possibly spend that much money on? Go out and get the most expensive thing on the menu every night of the week? Fill closets with designer clothes I'll never actually wear? I have no idea. So I just throw a huge cash pile into savings paycheck after paycheck, year after year. I feel like I could develop some alternate career that I could enjoy more, like working on cruise ships or music video shoots or something. Makes me wish I had crappy food service or retail jobs when I was younger so I had some alternate experience to draw from.

rodly 13y ago
> So I just throw a huge cash pile into savings paycheck after paycheck, year after year. I hope you're generalizing here and not actually wasting your money in a savings account. Throw that in some IRA's, CD's, and short-term index funds.
- dyno12345 13y ago
  Though I have too much of it in a money market account, I was being over-general tangent: I never saw the point in CDs if I could get a better rate on treasury or muni bonds
  - n72 13y ago
    Find CDs with a low early withdrawal penalty (Ally bank for example) and you've for many intents and purposes eliminated inflation risk, to which the bonds are vulnerable. Inflation may not go up, but it certainly can't go much farther down. See for example http://www.cbsnews.com/8301-505123_162-37741854/four-cds-that-protect-against-a-bond-bubble/?tag=mwuser http://www.cbsnews.com/8301-505123_162-37741854/four-cds-tha....
    - dyno12345 13y ago
      Some kind of Treasuries with 0.5% APY? Why not https://personal.vanguard.com/us/funds/snapshot?FundId=0083&FundIntExt=INT#tab=1 https://personal.vanguard.com/us/funds/snapshot?FundId=0083&...
nchuhoai 13y ago
Just out of curiosity, how happy are you with your career? Why don't you just start doing some other stuff as you expressed?
- dyno12345 13y ago
  I wish that I could take a 30% pay cut and work 30% less and do something else with the time. Or even a 50% pay cut for 50% less time. I like programming, but I find sitting in an office chair 50 hours a week incredibly boring, frustrating, socially stifling I don't know what else I could do, having no experience and would have to go back to minimum wage. Odds are I might just get bored with whatever that would be after a short while
  - nchuhoai 13y ago
    Im in no position to recommend anything, but the 4 Hour Work Week has opened my eyes, maybe it can do something for you too

rodly 13y ago

> So I just throw a huge cash pile into savings paycheck after paycheck, year after year. I hope you're generalizing here and not actually wasting your money in a savings account. Throw that in some IRA's, CD's, and short-term index funds.

dyno12345 13y ago
Though I have too much of it in a money market account, I was being over-general tangent: I never saw the point in CDs if I could get a better rate on treasury or muni bonds
- n72 13y ago
  Find CDs with a low early withdrawal penalty (Ally bank for example) and you've for many intents and purposes eliminated inflation risk, to which the bonds are vulnerable. Inflation may not go up, but it certainly can't go much farther down. See for example http://www.cbsnews.com/8301-505123_162-37741854/four-cds-that-protect-against-a-bond-bubble/?tag=mwuser http://www.cbsnews.com/8301-505123_162-37741854/four-cds-tha....
  - dyno12345 13y ago
    Some kind of Treasuries with 0.5% APY? Why not https://personal.vanguard.com/us/funds/snapshot?FundId=0083&FundIntExt=INT#tab=1 https://personal.vanguard.com/us/funds/snapshot?FundId=0083&...

nchuhoai 13y ago

Just out of curiosity, how happy are you with your career? Why don't you just start doing some other stuff as you expressed?

dyno12345 13y ago
I wish that I could take a 30% pay cut and work 30% less and do something else with the time. Or even a 50% pay cut for 50% less time. I like programming, but I find sitting in an office chair 50 hours a week incredibly boring, frustrating, socially stifling I don't know what else I could do, having no experience and would have to go back to minimum wage. Odds are I might just get bored with whatever that would be after a short while
- nchuhoai 13y ago
  Im in no position to recommend anything, but the 4 Hour Work Week has opened my eyes, maybe it can do something for you too