are you someone who want to get ur own house and have a great life? read this... ^^*
few days ago, one of our client came in to our office and want us to make a tax planning for him. This is a man who is single and make $100,000 per year, but end up he can't save any money at all... why? Let's calculate it.
he made $100,000 per year.... he bought a condo for $580,000 couple years ago. he has to pay about almost $40,000 per year for the mortgage and property tax. also, he has to pay about 10-15% salary tax which is about $13,000. so $100,000 salary already gone more than half.
so about $45,000 left, divided by 12 equal $3750 salary cash every month. sounds a lot right? he has to pay $300 HOAs for the condo. cable, phone, cellphone, gas, internet, car loan, food, insurance for health, car, and other expenses cost about $3000 already. so he might have barely $750 left every month which he might need to buy computer or some entertainments.
he said before he buy the condo, he can save at least $30000 per year and live more free and less stress. now, he can't even say no to his boss because if he lose the job, his condo has to return to the bank. then end up he will have nothing even he live under all those stress and fears all the time. so he is working and live like a slave now. he was joking that he is working for the bank... He really has not much left every year even he make $100,000 salary per year....
more you own, more you pay, more pressure and stress, more responsibilities, and less freedom. live like a slave... i think most of people are like this now.
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