Quote:
Originally posted by xenigo
Ok well that was entertaining. I don't want to get more specific, I just wanted to see if there might be an easy answer to that. It would basically be a non-income producing liability, that's purely for fun.
I'm trying to figure out how much I'd need to have in assests to comfortably not give a shit about spending that kind of money.
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Yeah it was fun, I started serious and then sort of got the impulse as the post developed
Seriously....
If it's purely for fun, and makes you no money and has no real value, I would say you need no assets if you have that kind of money to PLAY with (to me fun = play).
Again it's hard without specifics, but I would SURELY find a way to at least get tax hahahahaha off benefit, that way your 50k would only cost you the 50K less your savings on your tax rate.
There are also many ways for cross-loans, underhahahahahas and so forth so you could actually have someone else provide the 50k, you get the tax benefit, and then hahahahaha the item relating to the loan off, pay off the balance, so in actual fact after the tax benefit you would actually get BEFORE you pay the loan, you would risk losing lots less than 50k anyway.
If that sounds complex, well, get an accountant.
But without specifics it's just not much more than guess work and speculation.
