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Reply to "How to budget when your income is all bonus?"
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[quote=Anonymous]If you currently have low obligations, your lives will be *a lot* better if you save as much as possible now, ie live off your $350k for several years and create a cushion from what you can increase your yearly income and also be ahead on retirement as much as possible. We have done this and then annual income is actually enough to live on from investments and bonuses are useful to increase the principal from which we live. A few years of saving $600k+ (even if half goesl to a place where you will use the proceeds, the other half perhaps to retirement etc that is less liquid) should allow you to increase your "base" income by $100-$200k / year and so you can live with kids comfortably and have a stable income. Think of it how retirees live - they live off the proceeds of their considerable savings. [/quote]
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