Monday, April 14, 2008

Question...

Is it better to earn an extra $10,000 or save $10,000?

Well, let’s take a look at three different scenarios to see…

For the case of consistency we will look at the average American annual salary as our basis for the analysis, which is $42,000 a year.


Scenario #1 – This is your average household

$42,000 average household income
-$14,000 taxes
$28,000 Total after taxes


Scenario #2 – This is what most people do
Go out and get a part-time job, work over time, and/or find other supplement source of income

$42,000 average household income
+$10,000 extra income earned for the year
$52,000 new total with the extra income added
- $17,000 taxes
$35,000 Total after taxes

Scenario #3 – This is what happens when you start your own home based business

$42,000 average household income
- $14,000 taxes
$28,000 Total after taxes
+$10,000 Refund (for owning your own business/tons of tax deductions)
$38,000 Total after taxes

Which one makes more sense to you?

Go out and get another J.O.B. (see that post here), spend more time away from your family, make your life more hectic and stressful, or open up a home based business where you can work from home, spend as much or as little time as you want, and substantially improve your financial future.

The choice is YOURS! Why would you not accept this incredible invitation?

Right now there are people on our team that are getting tax refund checks from $1,000 - $8,500…that can really make a difference in ANY family!

What’s stopping you from taking those steps for you and your family today?

1 comment:

Nadine said...

Wow I didn't know that. Very interesting.