Yesterday, 02:59 PM
(Yesterday, 02:47 PM)oncemoreuntothejimbreech Wrote: An extra $500K up front minus 37% tax would allow him to pay cash for a $315K house for his mom saving over $400K in interest on a 30 year mortgage assuming an interest rate of 7%.
A potential savings of > $400K semis like a win to me if you’re giving a client financial advice.
It's not an extra 500k. It's 500k that instead of getting payed in Decemember, he gets in August. He was already getting this money as part of his 10.4 million dollar signing bonus, he just gets 500k of that money 4 months earlier.
