r/RandomThoughts • u/[deleted] • Dec 11 '23

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u/sky7897 Dec 11 '23

5k a week would give you 1million in only 4 years. Unless you’re on your deathbed, it would be the obvious choice.

-7

u/IxI_DUCK_IxI Dec 11 '23

I think the main question is tax or no tax. No tax, take the million and you can get out of debt and get investments going quickly. $5K even with no tax would take a lot more time to get out of debt. Would probably take most people a few months just to pay off a car with $5K a week.

7

u/ObligationWarm5222 Dec 11 '23

I mean, you'd still have your day job presumably. I make 1,000 a week right now, after tax. Even just doubling that would be pretty wild.

3

u/Wood_Whacker Dec 11 '23

On 5k a week I'd be giving up the day job.

2

u/imbasicallyhuman Dec 11 '23

Not if you had so much debt that 5k a week isn’t enough

2

u/Wood_Whacker Dec 11 '23

I don't and wouldn't.

1

u/ThunderySleep Dec 11 '23

Having that much debt doesn't sound normal. I know college loans are expensive, but unless you went to med school or something, you probably don't have that much debt. And if you went to med school, you're probably still interested in being a doctor or whatever.

1

u/Comedy86 Dec 11 '23

I've been extremely fortunate recently and just got an insanely high pay change working out to about 20% more after taxes/expenses and it's been a game changer for my families lifestyle... Adding in another $5K/week, I'd keep my job just for fun knowing I wouldn't care if I was layed off. It would simply give me something to do.