[quote]That fantasy world doesn’t exist. Business owners can’t write off a lavish life style legally.[/quote]
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And this is the post he was responding to:
[quote=SK in CV][quote=AN]The more I see these kind of stuff, the more I’m convinced that it’s not worth it to be a rich W2 earner. If you want to be rich, be a biz owner. There are a shit load of stuff you can write off or have the company pay for your life style. Then, you don’t need a big pay check to live just as lavish of a life style as those W2-er in the upper echelon.[/quote]
That fantasy world doesn’t exist. Business owners can’t write off a lavish life style legally.
It is hard to become super rich as a wage earner. But it isn’t hard to become super comfortable as a very high wage earner. Don’t live like you’re super rich, don’t spend it all and invest wisely. It doesn’t happen overnight.[/quote]Lavish is in the eye of the beholder. I’m sure when compare to other 3rd world countries, most American life style are pretty lavish. I consider having a cellphone, a luxury car, a nice house, new computers pretty lavish. Maybe because SK lives in CV, so his definition of lavish might be quite different than some of us lowly W2 earners who can’t afford to live in CV.
See the sentence I put in bold that SK seems to only read 1/2 of and responded to. If the company pays for your 7-series/S-class/Tesla/Range Rover, brand new computers, brand new iPhone w/ service, servicing your car, paying for your car insurance, home office, part of your utility, etc. Those can easily add up to tens of thousands of dollar. All these stuff I just listed are stuff I’d considered lavish. Not private plain lavish (maybe that’s what SK would consider lavish), but that just be the difference in definition of lavish.
Then there are stuff like SEP IRA that W2 working stiff don’t have access too. 25% or $52k/year in contribution, which ever is less. That’s a hug benefits IMHO. If both spouses work for the company and have the company put money into their SEP account. You’re talking about $104k/year. W2-er can only max out at $17.5k/year or $35k/year as a couple. I can go on and not, but you get my point. There are a shit load of knobs and lever that biz owner have access to to manipulate their income that W2 earners don’t have access to. Which is why I said what I said. If you want to be truly rich, be a biz owner.
