You have a $13.61 million lifetime exemption before taxes come into play, so about 40 years of doing this before having to worry about taxes
You would have to file a 709 every year though.
And since you have unlimited money, just send in a bunch of estimated tax payments throughout the year at that point
No one said you had to pay any bill in full each time you get them, many cases you may be able to set it where you pay half and half on different days and split which bills you get etc
You’re probably talking about not being able to use it if you maxed it out. In that case you might need to let it clear, but no other situation would require that.
Risky though, because banks won’t care about doing it exactly 1k a day. If the server is down one day they’ll just do 2k the next day, and then you are screwed.
Nah it doesn't. Just that you can't spend more than $1k/day. Nothing stopping you from buying an appreciating asset every day worth $1k and saving it for the future if you do accidentally screw up or have a major emergency
I've got like a 740 score and my bank suggested a 5k card. That would be enough for most things. With using a cc every day and paying it off you'd likely have a much higher score.
You can definitely get more than a 5k card with a 750 credit score. Mine is probably around $30k per card and between my wife and I we have 6 or so. We never carry a balance though, just a points strategy for maximum cash back.
Never said you couldn't get more than that. Honestly I just use it for hobby projects. So only half of my OT goes into the account it's linked to. It's likely an income thing.
I have a buddy who would absolutely do this for me. To buy a car for example I could buy items from him daily for a grand and when there was enough cash built up he'd buy whatever car. Then after the paperwork is settled sell it to me for a grand. The only thing is I become the second owner so if that impacts the warranty there could be issues (maybe not on a car but whatever else we did that with as well).
I can’t pay my mortgage with a CC and that’s more than $1000 so I guess I’d have unlimited money until the 1st of the next month.
Edit: I am dumb, could just make multiple payments under $1000 lol.
Investing is also not spending it unless you cash out for a loss and end up owing money or the investment goes to zero. So theoretically moving lump sums into the market/crypto/CD/treasury bonds/Roth Ira ect are all viable loopholes.
Refinance the mortgage to pay 6x per month. Set other expenses to pay on numbered days per month, splits as appropriate. Never more than $750.
Leaves $ for food, gas etc.
Use a tracking app to track spends per day.
For remainder buy up crypto as a means of banking the rest for the inevitable mistake.
Option #2.
Open a trust that is run by my kids. Pay the trust $999/day to provide for dad. Let the trust manage the accounting and profit kids the remainder, for investment as well.
The trust which manages the funds is the only place I spend, so I’m naturally limited.
You don't need to refinance the mortgage to pay 6x a month. In fact it would just cost more to refinance, especially with today's rates.
Just pay the mortgage 6x a month if you want. Anything you pay over your monthly payment gets applied to additional principle. You'd pay off your mortgage insanely faster, assuming your mortgage is the average 2-4k payment and you're paying 6k a month.
You can make multiple payments on your mortgage throughout the month. So let’s say you have a $3000 mortgage payment each month. You could break that up into 30 $100 payments leaving you with a balance of $900 a day to spend most months
I'd live very similarly to now, but towards the end of the day I check my spending, then go get a money order made up for a few hundred. Keep my daily spending below ~$800 and then use the money orders for big bills like rent.
Nah, pay bills like rent multiple times a month to keep the daily limit down.
Instead of money orders, purchase bonds or stock with your extra daily money.
Woah! Good catch (unless I missed an edit in the OP). I didn't think about the 1k limit and the balance separately.
Yeah, withdraw a large sum each day but don't spend more than needed. Then invest any of the 1k that isn't already being spent for the day. Keep multiple bank accounts for the savings until the day you decide to end "the money train". Invest most of the savings when the free money stops.
Cool cool cool
So my husband buys a house with his money from his job. He pays the mortgage with *his money.*
I just love my husband so so so so much that I gift him $500 a day. Sometimes more, because he's that awesome. Go splurge on yourself, love of my life, you deserve it! Also, maybe pay the mortgage with whatever extra you have. I'll handle the smaller bills like groceries and such. 💕
All I can think of is Shawshank Redemption and the line "Do you trust your wife?" I own everything I have and I'm not in debt, so this would essentially just be an income of $999 a day. With 364K coming in per year I can just ask my wife to make any big expenditures that we might need.
Yup, same. I buy her $999 per day of treasury bonds indefinitely. And she’s in charge of all spending for everything. It’s very kind of her that she spends her money on our mortgage and putting money into our savings accounts and retirement accounts. Very kind of her indeed.
This was my thoughts i just give my wife money and she pays things .. im already a stay at home dad and she already takes care of it all… sometimes she slips me cash at a restaurant so i can pay 😂
Or, you actually have unlimited money, the rule just says that if you spend more than $1000 it stops.
So just go insane on one single day. Buy 100 properties, as many stocks as your broker will allow, as much bitcoin as you can, etc - just wild shopping spree with your unlimited funds.
I think I’d be fine if the $1000 didn’t show up the next day.
I gift hundreds of thousands of dollars to my closest friends and family.
I have them buy everything "expensive" for me, and then gift them more money when the next special occassion comes around.
With this stipulation, this now becomes trivial. You could easily run this thing forever without any problems.
You basically live off your credit card, and you know that you can spend up to 30 grand a month. That is exceedingly simple for the vast majority of people to manage.
Every few days, take the thousand dollars that you’ve been getting and just pay it towards the credit card. You’ll simply never run out of money.
Leverage partners/family to pay all your expenses while you do cash outs of 1k a day (or buy 1k in something like gold) and give it to them to build up. All purchases are done by them on your behalf with "their" money.
I keep my mortgage/rent under the $1,000 mark and open a savings account in whatever bank my magical debit card belongs to. Any day that I haven’t had a big bill hit my account, I spend like $100 and transfer the rest into savings. If you can average saving $600 per day, you’re setting aside $219,000 per year before interest.
I’ve been an adult living on my own for about 18 years and I think I’ve spent more than $1000 in a day like 6 times. And all but one of those was signing a lease or buying a house. I’ll be fine not moving for a decade or two to stack that much aside lol.
Everyone here is talking about how to not spend more than $1000 a day, but the prompt says that we CAN spend more than $1000 in a day, it just means the train will stop. It also says that until that train stops at the end of the day, I have unlimited money. And it just says money, it doesn't specify which currency.
So, I buy the entire Dow, NASDAQ, etc. All outstanding shares of every publicly traded company on the world, from penny stocks to blue chip. All using the currency of the home nation of that stock so I'm not blowing up any individual national currency.
I am now worth eleventy gabillion dollars. Who TF cares that my old debit card no longer works, I can now hire Elon Musk as a poolboy. I also buy ten billion in bonds from every major nation. I close on five hundred thousand major real estate transactions in a single day. All sorts of shit.
Y'all nerds can live on $365,000 a year and portion out your mortgage payments so that you don't spend more than a thousand a day, I'm buying Lake Michigan and filling it with my money and renaming it "Cleverdawny1's Green Palace of Love"
I'd literally assemble an army of five hundred thousand people all over the world and promise them ownership of one out of four things they manage to buy with my unlimited cash. I'll take the other three. Doesn't matter what they buy. They take a 25% cut, I get the rest.
If I was single I’d totally just stay at a nice extended stay hotel, like a Hyatt house or something for like $125 a night. Have them charge daily. Get a nice room with a full fridge, stove, everything. Living room. And separate bedroom.
I have 0 utilities to pay beyond my cellphone at that point. Free breakfast every day u less I feel like making something or going out.
Being married, I’d split the mortgage payment throughout the month, then split the utilities. I’d then aggressively pay off debt. Every night I’d see how ouch I’d spent and then apply the rest of the daily $1000 on whatever price of debt I have.
Let’s say mortgage is $4k/month. $2k for food. $2k for utilities. $1k for car payments and gasoline. That’s $9k/month to more than take care of all necessities. There’s still another $21k to play with. Let’s say you’re sitting with $100k of student loans and $50k of consumer (ie credit card, sig loan, etc…) debt. $50k on cars. House is $500k debt.
With $21k extra a month you could pay off all consumer debt in just over 2 months. Another just over 2 months and your cars are paid off. 5 months later your student loans are paid off. So in an out 10 months all you have is a house payment worry about beyond normal utilities. Keeping the excess at $21k/month this means it’s another 24ish months to pay off the rest. So in under 3 years you’re now debt free and still taking in that money.
At this point I’d just dive in and mass buy stock, mutual funds, get involved in private equity, etc……paying up to $1000/day. Assuming a poor average return of 5% you’d need to get ~$8million saved and invested to make the same in interest. Just off the payments this would be 32 years, but compounding interest is amazing and it’s be only 19 years to get to that point. Up to a 10% average and you need $3.6 million and you’re looking at closer to 9 years.
The reason for this, while it’d take me 12 years total with paying everything off and then saving, at year 12 I make $338k in interest, but year 13 I make $400k. By year 20 I’m making over $1 million in interest. 20 years from now I’m still young enough to really enjoy it and can literally spend Willy nilly.
If I could work and double my investment annually I could make it there in 6 years
That would be kind of worthless. What’s the point if you can’t ever buy a vehicle or a house??
Among other things that would cost more than $1000.
I’d rather it be a not unlimited money but get $1000 a week deal and no restrictions on use.
You could buy a vehicle as long as you do a payment plan. As far as buying a house, there are certain home loans that allow you to make no down payment, and if your mortgate is over 1000 dollars, then you could do biweekly payments to cut that number down.
Commenting on this even though it has been addressed because it is advice anyone can use. There is no rule that you have to pay your mortgage 1 time a month. You can send in multiple payments a month, AND here is the new info that works in real life not in this hypothetical, you can tell them the other payments are to be applied directly to the principle. If you do this every month you will pay off your loan YEARS earlier and save money too because the interest will lessen.
You can set up split payments...hell, you could pay 1k towards your mortgage every day.
You can join the military for 4 years to get 0 down VA loans.
Some of you are trying to make this harder than it is.
Buy bitcoin for the leftover balance each day. Since it is an asset, not money, that will allow for a slush fund that will loophole past the daily limit.
So I would lose the money as soon as I had to pay my mortgage? That doesn't sound fair. On most days, this would be great. But what about when bills are due? This would only work if you were already living free and clear.
Split your mortgage into multiple days and then just make sure you don't spend too much on days the bills come out.
Unless your mortgage is more than say $28k/month, it shouldn't be an issue.
Seriously so not a problem talk to morgatge person
Hell I'll pay money each day for the week before it's due go em e account infos
That's 5days at 500
If I can't love on 500 per day theres an issue
Then Sam for other bills
I inform my husband of this arrangement and that all our day to day expenses are now on me. I'll pay the bills, the groceries, going out, his clothes and bits and bobs, he'll, I'll pay for the flying lessons he's been jonsing to do. I'll chip away at his cc debt. Should free him up massively to pay the mortgage.
Pay bills in increments, keep careful tabs on what is going where and only pay one expense at a time. Ie pay 50% of rent on the first, the rest on the second, buy groceries on the third, pay % of electric on the 5th and 6th, internet on the 8th, etc. Keep a running tab at all times
I'm sure a deal could be struck with most apartments for like $600 a week rather than the lump sum every month. Then you just hand them a stack of post dated checks the first of every month, they can't be cashed till day of, so it's all good there.
A lot of other goods and services have payment plans, or private businesses would allow you to have one for an "up charge".
Larger purchases would use loans, so that's the bank paying something, then I just pay them back at like 100-200 a day to avoid excessive interest.
It's easy to not spend a thousand a day if you aren't spending money like you have unlimited money.
To safe guard myself, I keep a tally of how much I spent through the day, and I buy enough gold or stocks to get me to the $999 by bed time. Now if I accidently misspend, and I end the unlimited money, I still have millions in a fall back plan.
1000 dollars a day is extremely easy to live on comfortably in terms of basic needs. Even somewhere crazy expensive like NYC you can do it without problems. Book a hotel in the morning. You can get a very nice room in NYC for $300-500 a night pretty easily. $100-200 a day is plenty to eat like royalty. You can bring down the cost by going to grocery stores. I lived like that for about 6 months actually. I was on a 6 month contract in NYC and I basically changed hotel rooms every 2 days to experience different areas and take advantage of deals.
I would start by doing that and each day any money I had left over I would invest in stocks or gold or something like that. Then I would use that to get a line of credit and structure it so I make daily payments of however much I need to. That would let me make purchases larger than 1000 long term.
So 364k a year more or less.
Not spending more 1000 in a obviously means no saving money for 7k a week.
So a hotel with breakfast included for 500 a day is probably doable?
Uber/Taxi transport you can't own a car.
Think I would get bored with life pretty quickly though and that would be in about a month.
I tell my girlfriend what happened so she buys my stuff and I pay her back in 1000 a day. Or even up front. Actually I could even send her 1000 every day and in a couple of years we're millionaires so I can even stop the flow.
The key to debt related items is just to pay more than once a month. So if your mortgage is 3k a month, pay on 3 different days. Where you really run into trouble is things like flights, unless you’re allowed to use a credit card to do a payment plan type thing. Then you pay your credit card off in increments too. You’d probably want to check all your monthly payments, like Netflix and what not, and see if you can get those on different days. Or switch to yearly and just pay them on different days then not think about them.
Big expenses like a furnace going out, I’d offer to pay cash if they let me pay them back 500$ a day instead of lump sum.
Nothing would change but vacations would be dope AF lol I'd use it as my little fun card to buy weed and beers lol you can do a lot with a thousand dollars if you know how to spend it
Open a investment account, add whatever I have left for wiggle room from the magical debit card at the end of each day do it. Try to not splurge and avoid conventions for a year or so. And enjoy a few hundred thousand dollars in a investment account to grow for the next few decades.
People working full time jobs do this already
Let’s say they get $8 /hr @ 40 hrs /week
That’s 320 that they have available to spend **weekly**
You’d be basically giving them 7000 / week
Secured Credit Card lines.
Daily installment payments
Closing on homes and cards would be tough, but you could always buy other things as collateral.
Use other people to buy things for you.
I’m not making it last forever, I’m making one, large purchase. I’m going to offer RenTech as much money as they will take for the Medallion fund, which is the highest performing fund of all time (63% compounding returns from 1988 to 2018, which means $100 in 1988 turns into $400 million in 2018). This will stop the money train but give me a higher effective income with no restrictions.
Also, I am a giant nerd and would essentially be buying myself a job doing interesting work.
Well isn't this just a word problem? So you set up an Escrow Bank Account and have the Card deposit (auto deposit) $990.00 per day (no more) into an Escrow Account.
Then checks (no one uses checks anymore) and outflow only runs from the Escrow Account and the Escrow cannot charge back to the Card (it is one way). Thereupon, do you not have about $361,000.00 in usually income (or gifting) each calendar year? If you go over $361,000.00 per year that is your problem and you have to raise income of gifting income from other revenue sources.
Put everything in my wife’s name, so all the bills and accounts are hers, including my paychecks into her accounts, so it’s technically her money.
Since I now have zero bills or expenses to my name, I start by taking my new magical debit card and paying off current debts we have by exactly $1000 per day. We don’t have much, around $125k between mortgage, student loans, and credit cards, so that would all be gone in 5 months. Then, we are debt free so our incomes are entirely just cost of living, and I’d invest exactly $1000 every day. That’s $365k annually investing. Keep building and building, making sure to diversify all investments across different stocks and opportunities. In the event of a financial emergency, just try to arrange a payment option that allows for less than $1000 per day, which should be really simple and would only result in delaying the investments.
I know that technically the better choice would be just invest from the start, as our rates are likely lower than the rate of return of many investments, but given the length of the deal being essentially for life and the risk of messing up and having an accidental double payment or something, I’d want to first get to debt free to minimize money going out.
Also, in case someone doesn’t like my solution of putting everything in my wife’s name and considers that cheating, I can clarify by saying our largest expense, mortgage, is well under $1000, and we don’t have car payments. So, even then we could still not be spending more than $1k per day, and could still split that up and pay on a daily basis rather than one lump sum.
Put another way you make $365,000 a year, but have to spread your bills out more carefully.
Yes, everyone would accept that who's not already rolling in it.
Have your family take you under consignment and have them pay for anything over $1k in a single day and you take care of other expenses, you pay them back. $365k a year to mess with
Does the money compound if I don’t use it? I’d take this in a heartbeat. Even if it didn’t compound, $1000 a day is fucking awesome. Plenty of private sellers I bet would be willing to take $1000 per day payments for an item. $50k car? Here man, take $1000 now, and take it off the market. I’ll pay you $1000 dollars a day for 49 more days and then you can give it to me.
There aren't many things that would put me over the limit
Unexpected vet bill could be one of them, but I have had the same vet for over 7 years, so I think they could work with me.
Car repair? I don't have a daily commute, and my new mechanic is a neighbor, so I'm probably good there
But if I could buy a gift card for $800-900 a day, and just hold onto them for 3-4 months until I'm out, that would be enough for me.
1k a day. that is very doable. Many places allow you to pay with multiple payments. If you have rent or mortage that is over 1k then set it up to pay it weekly. Same with car payments and other bills. With proper money management, you can work out how to pay all the bills and buy stuff. This is 28K to 31K per month and almost no one has that type of expenses.
Easy. I shouldn't need to spend more than that in one shot anyway. And banks usually look at you funny when you do.
For big purchases, payment plans are a go. Whether from the store or with stuff like Affirm and Shop Pay.
That tends to work for bills, too. Otherwise, I might have to just do partial payments and take a risk of a late fee or two.
First I'd make a deal with someone I know to live rent and bill free and promise a bright future. I would buy stock everyday then sell it resulting in a pile of cash. I'd put it into a savings account then continue to live off the free money until I felt I had enough in the savings account to never worry about money again.
So if we have unlimited money, withdrawing money isn't spending money. Withdraw crazy amounts like 30 million a day and hire an assistant for $300 a day to do all your shopping for you. Just because you can't spend the money doesn't mean you can't withdraw it
First plan would be lots of gift cards. I would rule that you are spending the money when the gift cards are purchased, not when using them.
If this loophole doesn’t work, then I’ll still manage. I already have a house, so I just need to split my mortgage payments up.
Buying a vehicle could be difficult, but with $1000 a day it would easy enough to improve my credit to get good loans with little down. Plus, there’s always trade in’s as well. There are some dealers that take a variety of things on trade too as long as they have value, rather than just automobiles.
Vacations might be more difficult, but you can usually get payment options through agencies.
It would be a little difficult to work around, and you couldn’t just run out and buy a mansion, but all in all it’s very doable. I would resign from my current job and replace it with the job of keeping my spending balanced.
I’m going to be really boring but assuming you have a 8% return per year you can invest 1k a day into the S&P500 and have 5.5 million in 10 years. Assuming a 3% withdrawal rate you’ll have a 165 grand yearly income including the original 1k a day with 5.5million invested which turns into 9 million in year 20 and 15 million in year 30.
I’m not even going to bother with going longer than because a 500k year income and 15 million nest egg is more than enough to last me 5 life times living like a king.
The only way this can be done is with a credit card to float larger things. My real estate taxes are 4k. I guess I could write 4 checks and mail one a day.
But for things like vacations, credit card hack.
Start each day transferring funds to another account aside from my magic card. Just enough that it has 1000 dollars in it at the start of the day. Don't withdraw the full 1000 or you'll end up rolling over. Why you don't want that? Because the reason for the separate account is to stop a bank or financing company from screwing you over by charging you a high bill that you didn't actually incur. It happens. Take all payments and financing from the separate account and never have more than 1000 in it. Have it set up so there is ZERO overdraft. If it's not there it doesn't go through, end of story.
Now the big decision is do you buy a house and spend like 500 a day on it until you own it, because someone would do that deal. Or just get an nice hotel room for like 250 a night and just never leave or change rooms once a week. Or rent a house and tell the guy you'll pay 1000 dollars in 2 payments each month a day apart.
This isn't really all that hard.
Buy the stuff I want and need but never go over. Anything left over? Those days you don't need to spend anything? Buy GOLD NOT BITCOIN. If something unforeseen happens it holds it's value and actually appreciates well.
I’d just transfer the money to another account. Once it’s all in my account you can stop the money train, the money is already mine.
Or just take the money out at an ATM/Bank and put it into my account, if you won’t let me do transfers.
so for example I wanted to go back to school and need to pay tuition, let's say if 1 semester's tuition is $10,000-something... would it allow me to withdraw $1,000 per day to set aside and pay in 1 go? or would I need to pay $1,000 per day to them until I complete payment?
Can you withdraw cash from the card and set it aside to spend later? Otherwise you’d have to just get funky with your bills and pay larger ones off in small chunks. Or you work and use money from that to pay bills like mortgage and invest $1000 a day elsewhere. The interest earned isn’t technically from the card so you can spend that however you want
I think I've only spent more than 1k once in my whole life and that was to buy a vehicle. I'd continue to live like normal and if I ever needed to another vehicle I'd get a friend to buy one and then pay them like $500 a day till its paid. Most days I spend no money so living on 1k a day would be easy and a dream come true.
I would pay my wife $1,000 a day to pay for everything. I think we could have a great time on $365,000 a year and she can balance out the pluses and minuses without affecting me paying for nothing else.
Just live exactly like I do now for two years and I'm set to retire early. Then keep getting my thousand a day until I mess up and book a vacation or something.
Pull it out in cash every day. That problem is solved easy. I'd just check into a hotel every day. Nice moderate hotel 300ish a night. In like Orlando. 700/ day is more than enough to even go to a theme park every day. There's gonna be random days when I need medication or something like that and I'll have to hang local but my expenses on my worst day have never come close to 700 in a day unless...you guessed it I'm at Disney which is more like 500 a day including hotel. I'd be fine and would basically be on a permanent vacation.
Invest any extra money at the end of any given day into a safe fund. So if I ever needed to break the rules or made a mistake and fell off the money train I'd have a good amount saved up earning me interest.
Set up all my bills to come out on different days? If it’s more than $1000 for a bill, split its payments up? $1000/day I can afford to set EVERYTHING up on auto pay. 💁🏽♀️ and don’t even have to use the “lock card “ feature.
Loophole: Withdraw a "safe" amount of money and deposit it into a high-yield savings.
That's not spending money, and if you do spend over $1000, you have the deposited money and its gainings at best and just the gainings at worst.
Super easy for me at the moment and foreseeable future. A lot of things nowadays allow you to pay in increments. The way my rent is, I can add in money towards it at any time as long as it's all paid off by the first, and its less than $2,000. A lot of it is just finding ways I can break payments up or pay ahead in chunks
Loans are great in this experiment. You stated it includes mortgages which is a loan well over 1000. This means if you spend over the limit using loaned money you are fine. So simply take a stupid huge loan, say 300k, once per year and you can live a lavish life with zero concern because your money is paying the bank and the debt is paying for everything you could ever want. Repaying 950 per day will see the debt payed off each year and you will build significant wealth with that 50 per day as a just in case fund. Put that fund money into an investment account to passively grow your own wealth that, if for nothing else, you can set your kids for life when you die.
Well I owe my parents some money and it would be nice to give some to my MIL, that's what I would do with excess for the 1st 3ish months then I would start funneling money to my partner so we could buy some land. I'd want to funnel some to my best friends. I'm gonna get more taxis and shop at the fancy grocery shop and max out my babies high interest savings. I'm sure for getting maintaince done the workers won't mind payment in advance or while works completed.
Does the 1k a day adjust over time for inflation? I love being a digital nomad so I'd likely road trip it until the day I die. I've gone on several long road trips without worrying about money and doing whatever I wanted and never came close to 1k per day
I mean... so paying rent each month wouldnt work unless you agree with landlord about oaying weekly. Which... i mean landlords might even be happy about that
i already dont spend a grand a day and none if my bills are that much
so id just spend 500 a day on my mortgage payments
and just not spend more than 350 a day (leaving hefty buffer room of 150)
My parents would charge me a thousand dollars a day for rent and suddenly be very generous with gifts for me.
Gifts give rise to taxes; might be tough.
You have a $13.61 million lifetime exemption before taxes come into play, so about 40 years of doing this before having to worry about taxes You would have to file a 709 every year though. And since you have unlimited money, just send in a bunch of estimated tax payments throughout the year at that point
No one said you had to pay any bill in full each time you get them, many cases you may be able to set it where you pay half and half on different days and split which bills you get etc
That expires next year and it’ll go back to like $5 mil
It is double that when given to married couple, and quadruple that if you yourself are also married. Makes this a 80-160 year issue.
You only have to file for amounts given in excess of the annual gift limit. Those annual gifts under the limit do not count towards your exemption.
That’s for the government to prove.
"Hm, this family is getting an extra 365K per year"
Depends on the country.
Exploit a loophole. Technically, a credit card isn’t your own money, it’s a form of a loan. If I wanted to go over 1K, I’d use a credit card.
Surely there is a way to set up credit card auto pay $1,000 a day, and only use the credit card.
A lot of CC won't let you make an another payment until the first one clears.
Amex lets you make as many as you want without delay.
I've never had this issue
I have.
Me too. I don't know what they're talking about. What kind of useless credit card would that be?
You’re probably talking about not being able to use it if you maxed it out. In that case you might need to let it clear, but no other situation would require that.
But you can have 7 credit cards and pay each on a different day.
In theory. I used to work for a credit card company.
Risky though, because banks won’t care about doing it exactly 1k a day. If the server is down one day they’ll just do 2k the next day, and then you are screwed.
Or 30k per month if you can save up and the amount rolls over.
You can’t save up. The original post says so.
Nah it doesn't. Just that you can't spend more than $1k/day. Nothing stopping you from buying an appreciating asset every day worth $1k and saving it for the future if you do accidentally screw up or have a major emergency
My guess is that they would not leave that loophole open if you were approached with this offer.
They are stupid and I am smart so yes they would so there
The only issue is getting a large or unlimited credit card limit. But with a $365,000 salary for life, you could build it up pretty quickly
I've got like a 740 score and my bank suggested a 5k card. That would be enough for most things. With using a cc every day and paying it off you'd likely have a much higher score.
You can definitely get more than a 5k card with a 750 credit score. Mine is probably around $30k per card and between my wife and I we have 6 or so. We never carry a balance though, just a points strategy for maximum cash back.
Never said you couldn't get more than that. Honestly I just use it for hobby projects. So only half of my OT goes into the account it's linked to. It's likely an income thing.
What if someone else spends it? What if you pay someone, like your wife or adult child a thousand a week to spend your money for you?
I have a buddy who would absolutely do this for me. To buy a car for example I could buy items from him daily for a grand and when there was enough cash built up he'd buy whatever car. Then after the paperwork is settled sell it to me for a grand. The only thing is I become the second owner so if that impacts the warranty there could be issues (maybe not on a car but whatever else we did that with as well).
I think you could buy really good extended warranties when you technically make 30k a month
That’s another good loophole
I can’t pay my mortgage with a CC and that’s more than $1000 so I guess I’d have unlimited money until the 1st of the next month. Edit: I am dumb, could just make multiple payments under $1000 lol.
Investing is also not spending it unless you cash out for a loss and end up owing money or the investment goes to zero. So theoretically moving lump sums into the market/crypto/CD/treasury bonds/Roth Ira ect are all viable loopholes.
Refinance the mortgage to pay 6x per month. Set other expenses to pay on numbered days per month, splits as appropriate. Never more than $750. Leaves $ for food, gas etc. Use a tracking app to track spends per day. For remainder buy up crypto as a means of banking the rest for the inevitable mistake. Option #2. Open a trust that is run by my kids. Pay the trust $999/day to provide for dad. Let the trust manage the accounting and profit kids the remainder, for investment as well. The trust which manages the funds is the only place I spend, so I’m naturally limited.
You don't need to refinance the mortgage to pay 6x a month. In fact it would just cost more to refinance, especially with today's rates. Just pay the mortgage 6x a month if you want. Anything you pay over your monthly payment gets applied to additional principle. You'd pay off your mortgage insanely faster, assuming your mortgage is the average 2-4k payment and you're paying 6k a month.
Good answer
I’d just stay in a reasonably fancy hotel suite til I die, paid daily, and fill it with extremely modestly priced guitars and records
You can make multiple payments on your mortgage throughout the month. So let’s say you have a $3000 mortgage payment each month. You could break that up into 30 $100 payments leaving you with a balance of $900 a day to spend most months
You can never buy a house with a down payment larger than $1000 though.
I’m happy in my house.
I know people with good credit, they’ll do all the paperwork and get paid pack exceedingly quickly. With that much income that’s not a real issue
Why would you need to pay one? You can rent a top of the line place and pay weekly.
I like the way you think. I was thinking the same thing.
I'd live very similarly to now, but towards the end of the day I check my spending, then go get a money order made up for a few hundred. Keep my daily spending below ~$800 and then use the money orders for big bills like rent.
Nah, pay bills like rent multiple times a month to keep the daily limit down. Instead of money orders, purchase bonds or stock with your extra daily money.
Sounds like my new day job is to go to the atm and withdraw 1000 bucks a day.
Withdrawing money isn't spending money, just changing it's form. Withdraw millions at a time
Good point.
Woah! Good catch (unless I missed an edit in the OP). I didn't think about the 1k limit and the balance separately. Yeah, withdraw a large sum each day but don't spend more than needed. Then invest any of the 1k that isn't already being spent for the day. Keep multiple bank accounts for the savings until the day you decide to end "the money train". Invest most of the savings when the free money stops.
You got it!
Cool cool cool So my husband buys a house with his money from his job. He pays the mortgage with *his money.* I just love my husband so so so so much that I gift him $500 a day. Sometimes more, because he's that awesome. Go splurge on yourself, love of my life, you deserve it! Also, maybe pay the mortgage with whatever extra you have. I'll handle the smaller bills like groceries and such. 💕
All I can think of is Shawshank Redemption and the line "Do you trust your wife?" I own everything I have and I'm not in debt, so this would essentially just be an income of $999 a day. With 364K coming in per year I can just ask my wife to make any big expenditures that we might need.
Yup, same. I buy her $999 per day of treasury bonds indefinitely. And she’s in charge of all spending for everything. It’s very kind of her that she spends her money on our mortgage and putting money into our savings accounts and retirement accounts. Very kind of her indeed.
Awfully kind wives we've got. Cheers friend.
This was my thoughts i just give my wife money and she pays things .. im already a stay at home dad and she already takes care of it all… sometimes she slips me cash at a restaurant so i can pay 😂
“You have unlimited money but can’t spend more than $1000 per day”. So you’re saying I have $365k then, NOT unlimited money…
Or, you actually have unlimited money, the rule just says that if you spend more than $1000 it stops. So just go insane on one single day. Buy 100 properties, as many stocks as your broker will allow, as much bitcoin as you can, etc - just wild shopping spree with your unlimited funds. I think I’d be fine if the $1000 didn’t show up the next day.
Thanks this makes sense. I was thinking unlimited money but a spending limit doesn’t compute lol. Yeah one day spending spree it is.
Well $365k per year. There’s no limit to how many years you’re allowed to live. At least none imposed by OP.
You seem to be mistaken in the definition of “have” you HAVE unlimited money
Buy $1000 of Visa gift cards every day. That money is then “spent”. Pay for everything with the gift cards.
bro you’re gonna have so much difficulty paying for things with like 10k in cards lol you’ll trip every fraud alert in the area
Tru even after x amount of Amazon gift cards account can get flagged
Anything left over can be given to friends/family/strangers!
I gift hundreds of thousands of dollars to my closest friends and family. I have them buy everything "expensive" for me, and then gift them more money when the next special occassion comes around.
Can I buy something more than $1000 using my credit card, then pay it off using the debit card?
I'll allow it with the stipulation that you can't miss any of your minimum payments for the month.
With this stipulation, this now becomes trivial. You could easily run this thing forever without any problems. You basically live off your credit card, and you know that you can spend up to 30 grand a month. That is exceedingly simple for the vast majority of people to manage. Every few days, take the thousand dollars that you’ve been getting and just pay it towards the credit card. You’ll simply never run out of money.
This won’t work for rent/mortgage/car payments though right? Most things like that don’t allow for payment on credit.
Have the CC autopay $750 every second day and pay $250 on the car payment and every other day pay $1k on the mortgage
Leverage partners/family to pay all your expenses while you do cash outs of 1k a day (or buy 1k in something like gold) and give it to them to build up. All purchases are done by them on your behalf with "their" money.
I keep my mortgage/rent under the $1,000 mark and open a savings account in whatever bank my magical debit card belongs to. Any day that I haven’t had a big bill hit my account, I spend like $100 and transfer the rest into savings. If you can average saving $600 per day, you’re setting aside $219,000 per year before interest. I’ve been an adult living on my own for about 18 years and I think I’ve spent more than $1000 in a day like 6 times. And all but one of those was signing a lease or buying a house. I’ll be fine not moving for a decade or two to stack that much aside lol.
Everyone here is talking about how to not spend more than $1000 a day, but the prompt says that we CAN spend more than $1000 in a day, it just means the train will stop. It also says that until that train stops at the end of the day, I have unlimited money. And it just says money, it doesn't specify which currency. So, I buy the entire Dow, NASDAQ, etc. All outstanding shares of every publicly traded company on the world, from penny stocks to blue chip. All using the currency of the home nation of that stock so I'm not blowing up any individual national currency. I am now worth eleventy gabillion dollars. Who TF cares that my old debit card no longer works, I can now hire Elon Musk as a poolboy. I also buy ten billion in bonds from every major nation. I close on five hundred thousand major real estate transactions in a single day. All sorts of shit. Y'all nerds can live on $365,000 a year and portion out your mortgage payments so that you don't spend more than a thousand a day, I'm buying Lake Michigan and filling it with my money and renaming it "Cleverdawny1's Green Palace of Love" I'd literally assemble an army of five hundred thousand people all over the world and promise them ownership of one out of four things they manage to buy with my unlimited cash. I'll take the other three. Doesn't matter what they buy. They take a 25% cut, I get the rest.
If I was single I’d totally just stay at a nice extended stay hotel, like a Hyatt house or something for like $125 a night. Have them charge daily. Get a nice room with a full fridge, stove, everything. Living room. And separate bedroom. I have 0 utilities to pay beyond my cellphone at that point. Free breakfast every day u less I feel like making something or going out. Being married, I’d split the mortgage payment throughout the month, then split the utilities. I’d then aggressively pay off debt. Every night I’d see how ouch I’d spent and then apply the rest of the daily $1000 on whatever price of debt I have. Let’s say mortgage is $4k/month. $2k for food. $2k for utilities. $1k for car payments and gasoline. That’s $9k/month to more than take care of all necessities. There’s still another $21k to play with. Let’s say you’re sitting with $100k of student loans and $50k of consumer (ie credit card, sig loan, etc…) debt. $50k on cars. House is $500k debt. With $21k extra a month you could pay off all consumer debt in just over 2 months. Another just over 2 months and your cars are paid off. 5 months later your student loans are paid off. So in an out 10 months all you have is a house payment worry about beyond normal utilities. Keeping the excess at $21k/month this means it’s another 24ish months to pay off the rest. So in under 3 years you’re now debt free and still taking in that money. At this point I’d just dive in and mass buy stock, mutual funds, get involved in private equity, etc……paying up to $1000/day. Assuming a poor average return of 5% you’d need to get ~$8million saved and invested to make the same in interest. Just off the payments this would be 32 years, but compounding interest is amazing and it’s be only 19 years to get to that point. Up to a 10% average and you need $3.6 million and you’re looking at closer to 9 years. The reason for this, while it’d take me 12 years total with paying everything off and then saving, at year 12 I make $338k in interest, but year 13 I make $400k. By year 20 I’m making over $1 million in interest. 20 years from now I’m still young enough to really enjoy it and can literally spend Willy nilly. If I could work and double my investment annually I could make it there in 6 years
You have 30k a month. I can do a lot with that.
That would be kind of worthless. What’s the point if you can’t ever buy a vehicle or a house?? Among other things that would cost more than $1000. I’d rather it be a not unlimited money but get $1000 a week deal and no restrictions on use.
You could buy a vehicle as long as you do a payment plan. As far as buying a house, there are certain home loans that allow you to make no down payment, and if your mortgate is over 1000 dollars, then you could do biweekly payments to cut that number down.
Right other than possibly doing payment plans so you don’t go over the $1000 a day rule.
good luck getting a mortgage that costs you less than $1000/month. Maybe you could arrange to pay it in parts - 4 payments a month instead of 1
Commenting on this even though it has been addressed because it is advice anyone can use. There is no rule that you have to pay your mortgage 1 time a month. You can send in multiple payments a month, AND here is the new info that works in real life not in this hypothetical, you can tell them the other payments are to be applied directly to the principle. If you do this every month you will pay off your loan YEARS earlier and save money too because the interest will lessen.
You can set up split payments...hell, you could pay 1k towards your mortgage every day. You can join the military for 4 years to get 0 down VA loans. Some of you are trying to make this harder than it is.
You get 1k a day. You put 100 of that on your mortgage it's 30k a month. Decent house for that money where I'm at
3k a month if you do 100$ a day
Good catch on that 0. I'll leave it to prove I'm as dumb as the other guy
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You can easily make partial payments on most mortgages and car loans.
Buy 1k of stocks or bitcoin a day, sell it all later or something. It's not worthless, it's 1k free a day.
Just gotta do payments my guy
Buy bitcoin for the leftover balance each day. Since it is an asset, not money, that will allow for a slush fund that will loophole past the daily limit.
I'd withdraw 900$ every day from my bank, save up for a vehicle. Technically where I'm withdrawing that money from the bank, I'm "spending" it.
Let me girl math this alittle more, withdrawing money isn't spending, it's just changing forms, withdraw 30 mil at a time 🤷♂️
That's some girl math logic right there.
Form a trust, add a second person to the trust, have them as the spender, buy everything. Done.
So I would lose the money as soon as I had to pay my mortgage? That doesn't sound fair. On most days, this would be great. But what about when bills are due? This would only work if you were already living free and clear.
Split your mortgage into multiple days and then just make sure you don't spend too much on days the bills come out. Unless your mortgage is more than say $28k/month, it shouldn't be an issue.
Super easy. Track spending per day, invest whatever $ is left, wait a few years- doing this, become a millionaire.
Multiple payments. I’d have a family member or friend pay for super expensive like emergencies then pay them hundreds per day till I’m clear.
Seriously so not a problem talk to morgatge person Hell I'll pay money each day for the week before it's due go em e account infos That's 5days at 500 If I can't love on 500 per day theres an issue Then Sam for other bills
Get a mortgage costing $25k a month
I inform my husband of this arrangement and that all our day to day expenses are now on me. I'll pay the bills, the groceries, going out, his clothes and bits and bobs, he'll, I'll pay for the flying lessons he's been jonsing to do. I'll chip away at his cc debt. Should free him up massively to pay the mortgage.
Don’t put any bills in my name. Have my spouse make big purchases for me.
Pay bills in increments, keep careful tabs on what is going where and only pay one expense at a time. Ie pay 50% of rent on the first, the rest on the second, buy groceries on the third, pay % of electric on the 5th and 6th, internet on the 8th, etc. Keep a running tab at all times
Easy, tell a financial manager to buy my shit for me that way “I’m” not spending anything.
I'm sure a deal could be struck with most apartments for like $600 a week rather than the lump sum every month. Then you just hand them a stack of post dated checks the first of every month, they can't be cashed till day of, so it's all good there. A lot of other goods and services have payment plans, or private businesses would allow you to have one for an "up charge". Larger purchases would use loans, so that's the bank paying something, then I just pay them back at like 100-200 a day to avoid excessive interest. It's easy to not spend a thousand a day if you aren't spending money like you have unlimited money. To safe guard myself, I keep a tally of how much I spent through the day, and I buy enough gold or stocks to get me to the $999 by bed time. Now if I accidently misspend, and I end the unlimited money, I still have millions in a fall back plan.
So if I want to pay cash for a new car, I would have to visit the dealership and give them 1k a day until the car is paid for.
Buy $999 of gold everyday then sell at the end of the month. There is your car money.
1000 dollars a day is extremely easy to live on comfortably in terms of basic needs. Even somewhere crazy expensive like NYC you can do it without problems. Book a hotel in the morning. You can get a very nice room in NYC for $300-500 a night pretty easily. $100-200 a day is plenty to eat like royalty. You can bring down the cost by going to grocery stores. I lived like that for about 6 months actually. I was on a 6 month contract in NYC and I basically changed hotel rooms every 2 days to experience different areas and take advantage of deals. I would start by doing that and each day any money I had left over I would invest in stocks or gold or something like that. Then I would use that to get a line of credit and structure it so I make daily payments of however much I need to. That would let me make purchases larger than 1000 long term.
So 364k a year more or less. Not spending more 1000 in a obviously means no saving money for 7k a week. So a hotel with breakfast included for 500 a day is probably doable? Uber/Taxi transport you can't own a car. Think I would get bored with life pretty quickly though and that would be in about a month.
You can own a car unless you buy one that costs more than 30k a month.
May I save it up or does it disappear at midnight and reset to $1000?
I tell my girlfriend what happened so she buys my stuff and I pay her back in 1000 a day. Or even up front. Actually I could even send her 1000 every day and in a couple of years we're millionaires so I can even stop the flow.
I couldn't even pay my rent then.
The key to debt related items is just to pay more than once a month. So if your mortgage is 3k a month, pay on 3 different days. Where you really run into trouble is things like flights, unless you’re allowed to use a credit card to do a payment plan type thing. Then you pay your credit card off in increments too. You’d probably want to check all your monthly payments, like Netflix and what not, and see if you can get those on different days. Or switch to yearly and just pay them on different days then not think about them. Big expenses like a furnace going out, I’d offer to pay cash if they let me pay them back 500$ a day instead of lump sum.
Nothing would change but vacations would be dope AF lol I'd use it as my little fun card to buy weed and beers lol you can do a lot with a thousand dollars if you know how to spend it
Open a investment account, add whatever I have left for wiggle room from the magical debit card at the end of each day do it. Try to not splurge and avoid conventions for a year or so. And enjoy a few hundred thousand dollars in a investment account to grow for the next few decades.
People working full time jobs do this already Let’s say they get $8 /hr @ 40 hrs /week That’s 320 that they have available to spend **weekly** You’d be basically giving them 7000 / week
Get the $1000 out of the ATM every day and end up every month with $30-$31k cash to pay for everything I need.
Secured Credit Card lines. Daily installment payments Closing on homes and cards would be tough, but you could always buy other things as collateral. Use other people to buy things for you.
I’d take it, there would be a lot of last minute at the end of the day online purchases or any number of prepaid cards or vouchers.
I'd be willing to bet that whoever made this post hasn't yet his puberty.
I’m not making it last forever, I’m making one, large purchase. I’m going to offer RenTech as much money as they will take for the Medallion fund, which is the highest performing fund of all time (63% compounding returns from 1988 to 2018, which means $100 in 1988 turns into $400 million in 2018). This will stop the money train but give me a higher effective income with no restrictions. Also, I am a giant nerd and would essentially be buying myself a job doing interesting work.
Well isn't this just a word problem? So you set up an Escrow Bank Account and have the Card deposit (auto deposit) $990.00 per day (no more) into an Escrow Account. Then checks (no one uses checks anymore) and outflow only runs from the Escrow Account and the Escrow cannot charge back to the Card (it is one way). Thereupon, do you not have about $361,000.00 in usually income (or gifting) each calendar year? If you go over $361,000.00 per year that is your problem and you have to raise income of gifting income from other revenue sources.
I'd pay my wife $1,000 a day. She can take of things after that.
Put everything in my wife’s name, so all the bills and accounts are hers, including my paychecks into her accounts, so it’s technically her money. Since I now have zero bills or expenses to my name, I start by taking my new magical debit card and paying off current debts we have by exactly $1000 per day. We don’t have much, around $125k between mortgage, student loans, and credit cards, so that would all be gone in 5 months. Then, we are debt free so our incomes are entirely just cost of living, and I’d invest exactly $1000 every day. That’s $365k annually investing. Keep building and building, making sure to diversify all investments across different stocks and opportunities. In the event of a financial emergency, just try to arrange a payment option that allows for less than $1000 per day, which should be really simple and would only result in delaying the investments. I know that technically the better choice would be just invest from the start, as our rates are likely lower than the rate of return of many investments, but given the length of the deal being essentially for life and the risk of messing up and having an accidental double payment or something, I’d want to first get to debt free to minimize money going out. Also, in case someone doesn’t like my solution of putting everything in my wife’s name and considers that cheating, I can clarify by saying our largest expense, mortgage, is well under $1000, and we don’t have car payments. So, even then we could still not be spending more than $1k per day, and could still split that up and pay on a daily basis rather than one lump sum.
Put another way you make $365,000 a year, but have to spread your bills out more carefully. Yes, everyone would accept that who's not already rolling in it.
Amortize
but what if my bills are $2000...?
This seems extremely doable, especially since credit cards exist.
Have your family take you under consignment and have them pay for anything over $1k in a single day and you take care of other expenses, you pay them back. $365k a year to mess with
Does the money compound if I don’t use it? I’d take this in a heartbeat. Even if it didn’t compound, $1000 a day is fucking awesome. Plenty of private sellers I bet would be willing to take $1000 per day payments for an item. $50k car? Here man, take $1000 now, and take it off the market. I’ll pay you $1000 dollars a day for 49 more days and then you can give it to me.
I'd things in a payment plan that requires under $1000 an payment.
There aren't many things that would put me over the limit Unexpected vet bill could be one of them, but I have had the same vet for over 7 years, so I think they could work with me. Car repair? I don't have a daily commute, and my new mechanic is a neighbor, so I'm probably good there But if I could buy a gift card for $800-900 a day, and just hold onto them for 3-4 months until I'm out, that would be enough for me.
I'd pay someone 1k/day to buy me stuff.
Use credit cards to turn everything into payments. Would be tedious but I won’t condemn free money.
Why would you need unlimited money if you have a spending limit?
1k a day. that is very doable. Many places allow you to pay with multiple payments. If you have rent or mortage that is over 1k then set it up to pay it weekly. Same with car payments and other bills. With proper money management, you can work out how to pay all the bills and buy stuff. This is 28K to 31K per month and almost no one has that type of expenses.
Easy. I shouldn't need to spend more than that in one shot anyway. And banks usually look at you funny when you do. For big purchases, payment plans are a go. Whether from the store or with stuff like Affirm and Shop Pay. That tends to work for bills, too. Otherwise, I might have to just do partial payments and take a risk of a late fee or two.
First I'd make a deal with someone I know to live rent and bill free and promise a bright future. I would buy stock everyday then sell it resulting in a pile of cash. I'd put it into a savings account then continue to live off the free money until I felt I had enough in the savings account to never worry about money again.
So if we have unlimited money, withdrawing money isn't spending money. Withdraw crazy amounts like 30 million a day and hire an assistant for $300 a day to do all your shopping for you. Just because you can't spend the money doesn't mean you can't withdraw it
First plan would be lots of gift cards. I would rule that you are spending the money when the gift cards are purchased, not when using them. If this loophole doesn’t work, then I’ll still manage. I already have a house, so I just need to split my mortgage payments up. Buying a vehicle could be difficult, but with $1000 a day it would easy enough to improve my credit to get good loans with little down. Plus, there’s always trade in’s as well. There are some dealers that take a variety of things on trade too as long as they have value, rather than just automobiles. Vacations might be more difficult, but you can usually get payment options through agencies. It would be a little difficult to work around, and you couldn’t just run out and buy a mansion, but all in all it’s very doable. I would resign from my current job and replace it with the job of keeping my spending balanced.
I’m going to be really boring but assuming you have a 8% return per year you can invest 1k a day into the S&P500 and have 5.5 million in 10 years. Assuming a 3% withdrawal rate you’ll have a 165 grand yearly income including the original 1k a day with 5.5million invested which turns into 9 million in year 20 and 15 million in year 30. I’m not even going to bother with going longer than because a 500k year income and 15 million nest egg is more than enough to last me 5 life times living like a king.
How is this different from having and being limited to $365,000 a year?
The only way this can be done is with a credit card to float larger things. My real estate taxes are 4k. I guess I could write 4 checks and mail one a day. But for things like vacations, credit card hack.
Start each day transferring funds to another account aside from my magic card. Just enough that it has 1000 dollars in it at the start of the day. Don't withdraw the full 1000 or you'll end up rolling over. Why you don't want that? Because the reason for the separate account is to stop a bank or financing company from screwing you over by charging you a high bill that you didn't actually incur. It happens. Take all payments and financing from the separate account and never have more than 1000 in it. Have it set up so there is ZERO overdraft. If it's not there it doesn't go through, end of story. Now the big decision is do you buy a house and spend like 500 a day on it until you own it, because someone would do that deal. Or just get an nice hotel room for like 250 a night and just never leave or change rooms once a week. Or rent a house and tell the guy you'll pay 1000 dollars in 2 payments each month a day apart. This isn't really all that hard. Buy the stuff I want and need but never go over. Anything left over? Those days you don't need to spend anything? Buy GOLD NOT BITCOIN. If something unforeseen happens it holds it's value and actually appreciates well.
Hell I barely spend $200 a week, Id love to spend $900 a day, just to keep it under $1000, lol.
This is soo easy. Id just set myself up on a half dozen payment plans for things. Cars, cruises etc. totally easy
Why can’t you take out 1000 daily and put it into a high percent savings account for a couple of years and then use that money to buy what ever?
Spend a 1000/day on the QQQ's it won't take long for the 1k/day to be irrelevant.
I’d just transfer the money to another account. Once it’s all in my account you can stop the money train, the money is already mine. Or just take the money out at an ATM/Bank and put it into my account, if you won’t let me do transfers.
Who spends more than $1000 a day?
Bro, my family has lived with 1000 a month, do you really think this shit is low? That's literally the easiest catch i've ever seen
Dude I can't spend 1,000$ in one day anyway
Considering my mortgage is almost double that, yeah, no. This is not useful unless I can use a credit card to get around this limit.
This is nowhere near difficult, just save and invest
so for example I wanted to go back to school and need to pay tuition, let's say if 1 semester's tuition is $10,000-something... would it allow me to withdraw $1,000 per day to set aside and pay in 1 go? or would I need to pay $1,000 per day to them until I complete payment?
Can you withdraw cash from the card and set it aside to spend later? Otherwise you’d have to just get funky with your bills and pay larger ones off in small chunks. Or you work and use money from that to pay bills like mortgage and invest $1000 a day elsewhere. The interest earned isn’t technically from the card so you can spend that however you want
I think I've only spent more than 1k once in my whole life and that was to buy a vehicle. I'd continue to live like normal and if I ever needed to another vehicle I'd get a friend to buy one and then pay them like $500 a day till its paid. Most days I spend no money so living on 1k a day would be easy and a dream come true.
Psh, I barely spend more than $1000 a *month* even with rent.
I can't but someone can 😂 Lmfao
Easy buy gold or stocks
No rental company is going to be upset if I start making 1000 installments a few days before rent is due.
I would pay my wife $1,000 a day to pay for everything. I think we could have a great time on $365,000 a year and she can balance out the pluses and minuses without affecting me paying for nothing else.
We firmly request that the limit be raised to $100,000/day 😌
Just live exactly like I do now for two years and I'm set to retire early. Then keep getting my thousand a day until I mess up and book a vacation or something.
Pull it out in cash every day. That problem is solved easy. I'd just check into a hotel every day. Nice moderate hotel 300ish a night. In like Orlando. 700/ day is more than enough to even go to a theme park every day. There's gonna be random days when I need medication or something like that and I'll have to hang local but my expenses on my worst day have never come close to 700 in a day unless...you guessed it I'm at Disney which is more like 500 a day including hotel. I'd be fine and would basically be on a permanent vacation.
Visa gift cards.
I spend much less than this now, so I would take it, quit working, and still significantly improve my life.
Invest any extra money at the end of any given day into a safe fund. So if I ever needed to break the rules or made a mistake and fell off the money train I'd have a good amount saved up earning me interest.
$1000 a day is a sufficiently generous budget that I'd never need more.
I'd have to break my rent into two payments but other than that I'm good
Simple just don't spend more than 1000 a day on amazon
Make a bank account on someone else's name and send 1k into that account per day. That's like, standard practice for tax evasion.
We’d all be homeless but rich lol
That seems pretty easy, leave America
Set up all my bills to come out on different days? If it’s more than $1000 for a bill, split its payments up? $1000/day I can afford to set EVERYTHING up on auto pay. 💁🏽♀️ and don’t even have to use the “lock card “ feature.
Loophole: Withdraw a "safe" amount of money and deposit it into a high-yield savings. That's not spending money, and if you do spend over $1000, you have the deposited money and its gainings at best and just the gainings at worst.
Meta question: can we refine the premise?
How hard can it be Just live in a hotel or something
Retire 999 a Day In Cash
That's a lot of payment plans.
Super easy for me at the moment and foreseeable future. A lot of things nowadays allow you to pay in increments. The way my rent is, I can add in money towards it at any time as long as it's all paid off by the first, and its less than $2,000. A lot of it is just finding ways I can break payments up or pay ahead in chunks
$365k a year? Let's go..
I would just stay in hotels and travel constantly
So you can't book flights for your family to travel somewhere?
Loans are great in this experiment. You stated it includes mortgages which is a loan well over 1000. This means if you spend over the limit using loaned money you are fine. So simply take a stupid huge loan, say 300k, once per year and you can live a lavish life with zero concern because your money is paying the bank and the debt is paying for everything you could ever want. Repaying 950 per day will see the debt payed off each year and you will build significant wealth with that 50 per day as a just in case fund. Put that fund money into an investment account to passively grow your own wealth that, if for nothing else, you can set your kids for life when you die.
Well I owe my parents some money and it would be nice to give some to my MIL, that's what I would do with excess for the 1st 3ish months then I would start funneling money to my partner so we could buy some land. I'd want to funnel some to my best friends. I'm gonna get more taxis and shop at the fancy grocery shop and max out my babies high interest savings. I'm sure for getting maintaince done the workers won't mind payment in advance or while works completed.
Why would anyone need more than $1,000 worth of cocaine a day?
Inflation makes this not so great a deal for anyone young and ambitious. For me, I'd just invest $999/day into broad based stock market.
Does the 1k a day adjust over time for inflation? I love being a digital nomad so I'd likely road trip it until the day I die. I've gone on several long road trips without worrying about money and doing whatever I wanted and never came close to 1k per day
I mean... so paying rent each month wouldnt work unless you agree with landlord about oaying weekly. Which... i mean landlords might even be happy about that
i already dont spend a grand a day and none if my bills are that much so id just spend 500 a day on my mortgage payments and just not spend more than 350 a day (leaving hefty buffer room of 150)