So I recently finished my business administration studies and I entered coporate land. I work in real estate asset management so I should be soon earning good money from an average joe point of view. Hence, it is not bad. But neither is it good because I knew way long before I would enter the white collar working sphere that I would resent the fact that I am making ultimately someone else rich and I will be not working for myself. I started studying business administration with the goal to learn the tools to make myself independent and become an entrepreneur. Well turns out you need a good idea and people who trust your idea with money. Otherwise you are just studying among the counless rich kid next wannabe C.E.O guys with inflated egos and popped collars..
I am from Germany with the german tax system so the deal is this. I will be slaving my way up the corporate ladder, paying soon the highest tax rate. Almost 50% of my income, gone. With my other half I have to buy food which is taxed with 19%. After expenses for rent, etc., which I try to keep at a minimum, I can put something on the side to invest. If I invest smart, guess what, 25% capital gain tax..
The effective tax rate is not under 50%, with all the indirect taxes you have to pay it is safe to say that it is rather in the 60% range, give or take on how much you spent on luxuries and have to pay via capital gain tax.
This thread is not about politics but our whole glorious welfare state system sets the wrong incentives. With this tax system, I have no incentive:
-
to earn more money because of the higher tax rate
-
to safe money because the risk free rate is basically zero and inflation eats your savings
-
to invest money and pay taxes again
What the system does, is setting the incentive to become a) a criminal and/or b) to become a leech and beg on the streets.
I know I have to tolerate the fact that I have to work on becoming rich with 40% of what would be possible because, well, everybody else does and that's just the way it is.. I am neither proposing tax evasion nor planning to do so.
I leave the house for work on 8.30 am and come back on 6.30 pm. This leaves me a few hours in the evening for reading, social activities, duties like supplies shopping, cleaning and spinning my head on how to get the fuck out of this hamster wheel everybody seems so happy to be running in.
I want to become financially independent and to be free. True Freedom. Not this two times a year holiday shit freedom, everybody is doing in order to avoid having to think about the fact that they are slaving away their one and only life.
So the question is, should I stay in corporate land, slaving my way up, putting as much on the side as possible with the option to found my own business in this sector or with something totally different. Or should I be planning on doing my own business rather soon because I have to factor in the psychological problem I have with working for somebody else?
Any recommendation on readings, books, blogs, or if you'd like to share your experience are welcome. I'll soak it all up. Because I ultimately need a plan.
Submitted June 10, 2017 at 02:34AM by SisyphosOnTop http://ift.tt/2so0tCn
