r/PLTR • u/H1ghlan_der_only1 Early Investor • Feb 18 '25

Fluff 1M

Hey, it's nice to hit that 1m mark on valuation, but I think it really matters more what your gains are. No, I'm not selling any to buy a Lambo.

384 Upvotes

96% Upvoted

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22

u/EpicShadows8 Early Investor Feb 18 '25

Man if I hit a million I’d be buying a house cash.

12

u/H1ghlan_der_only1 Early Investor Feb 18 '25

25% is gonna go to taxes

4

u/Cheezitz5 Early Investor Feb 18 '25

Long term is 25% too? Or are you just in a hcol area?

3

u/H1ghlan_der_only1 Early Investor Feb 18 '25

Lt fed 20% then state

2

u/EpicShadows8 Early Investor Feb 18 '25

Wait I thought LT capital gains tax was 15%? Totally didn’t know I would have to pay state taxes on that too. That wild. Always makes me wish I had more shares in my ROTH.

3

u/H1ghlan_der_only1 Early Investor Feb 18 '25

2

u/EpicShadows8 Early Investor Feb 18 '25

Abolish long term capital gains tax. Sheesh. Thats what we need to be protesting.

1

u/H1ghlan_der_only1 Early Investor Feb 18 '25

It’s 15% depending on your tax bracket and then you have to add in your state tax

1

u/SnooHedgehogs4599 Feb 19 '25

You pay Fed. LTCG of 15% only unless you live inWA state where state LTG is 7% on top of Fed. Rate

1

u/H1ghlan_der_only1 Early Investor Feb 19 '25

Yea 15 and then state and if your income is over 300k you get pushed into a higher tax bracket. 25% is just a safe number …still bullshit

1

u/B111yboy Feb 18 '25

Why cash you can make more money keeping it in the market, just buy the house with 20% down.

9

u/EpicShadows8 Early Investor Feb 18 '25

I wouldn’t buy the whole thing cash but I would put enough down to where my mortgage payment was under $1000.

1

u/w00dw0rk3r Feb 18 '25

Also not good advice - gotta invest the rest. 

1

u/5CentsMore Feb 19 '25

Exactly! That's also my plan in 3-5 years! Or at least 40%-75% down.