volto-
not tryin' to be cantankerous, and not one to look a gift horsey in the teef. i'm just an unusual dude. i always look at the net. if it's black i'm tickled pink, if it's red i'm blue.
i like to know what's in the fine print before i sign.
to answer your statements frankly...
as I said the other night the total cost of their two life long dreams the beemer and the home is about $3,700 per mo. Your pay check might be 50 % or more but there is no FICA, FUTA, SUTA or MED CARE taken out of ordinary income. This is not earned income.
i'm self employed so nothin's taken out of my check except what i take out. i don't pay FUTA, SUTA or MED. so the only difference is FICA. the real biggies are fed and state income taxes and i have to pay them quarterly not annually. with 21K coming in monthy we're probably looking at rates in the 30s for most of that unearned income. i'm not complaining, mind you, i'm just doin' the math. say it's 32%... that comes to $6720 plus the house and beemer equals $10,420 and don't forget the money i'd like to send to my sister but can't afford to but would if i had the money (there's an extra expense right there)<G> so i'm looking at maybe 10K net minus my current net income if i quit working which leaves maybe $7300 IF i can pull off the 21K every month without fail (which i don't think i can). and anyway i'm STILL $3,700 short of being able to buy that 11K worth of calls unless i eschewed the beemer and the house. and then i'm right where i am now except i've got 11K worth of calls that might expire worthless and no job. where's the stress reduction? (sooner or later the calls will pay off big if i do this every month but sooner or later i'm not going to pull off the 21K on monthly premiums for covered chocolates) i'm not a pessimist, really. i'm just bad at math.
Not only that how many people are down on QCOM because they would not sale because of waiting for that infernal capital gain when they could be making 30 to 35% a month.
i don't know how many but i'm not one of 'em. i'm down on QCOM because i margined my ass off to buy more 10 days ago at 145 because the time capsule had expired. <G>
next point - If someone came to you and said we are going to raise your monthly pay by $21,000 dollars, taxes would be the last thing on your mind.
no they'd be the first because i'd be trying to do the math to figure my net so's i'd know if i could buy a beemer, a million dollar house, send money to my sister and buy 11K worth of calls.
please beleive that i'm NOT trying to be a smartass (i know that's very hard to believe with someone like polvie). i'm just trying to sort this all out and see how it beats what i'm doing now. stress-wise and profit-wise. it doesn't beat it profit wise (and i've never used options - only common stock - on credit cards, house money, and margin) i'd be glad to trade some profits for stress reduction. i'd be happy to take the monthly income from the covered chocolates i just need to weigh the risk and factor in the smaller gains. i'm working on it. i'm working on it. remember i have to translate to net when you talk in gross. i know you're trying to help me not SELL me. bear with me and accept my apology. i need some experience and i'll try your covered chocolates for a year. then i'll help my friends too if it works like you say. i'll be your guinea beano. fair enough? but no fair telling me every move to make, i have to learn to do my own moves. (unless you want me to send you my 100K and you send me back a million in a year and keep the change - jajajajajaja!) now there's what i call stress reduction :-)
-polvie <after re-reading this post he's REALLY stressed - whew!> |
