investing and tipped employees

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rob in cal
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Joined: Mon Jan 08, 2018 5:36 pm

investing and tipped employees

Post by rob in cal » Tue Jan 16, 2018 5:21 pm

I'm wondering if there are many bogleheads out there whose primary income is from tips, and how this impacts their investing. I would guess it would be difficult psychologically to invest for some people because they would maybe view their cash money from tips as something that should be spent, not saved/invested.
In my case the bulk of our family income was tipped income before passive income surpassed it, but we always viewed it as regular income to be treated as such.

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Tyler Aspect
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Re: investing and tipped employees

Post by Tyler Aspect » Mon Jan 22, 2018 8:54 pm

Receiving tipped income would have you owning small bills. Maybe you would have an incentive to do more purchases using cash instead of a credit card.

As a writer of a personal finance program I would say this is a cash spending tracking issue. If you spend mostly on cash, then the regular salary should see less withdrawals. As long as you are keeping track of your cash spending accurately I don't see anything wrong with it.

https://sourceforge.net/projects/cash-flow
Past result does not predict future performance. Mentioned investments may lose money. Contents are presented "AS IS" and any implied suitability for a particular purpose are disclaimed.

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