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London perm salaries

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    #31
    Originally posted by eek View Post
    If I had investments generating £75k a year pre tax - I wouldn't be working and nor would anyone else I know - we would be retired.

    Which is why your example is f***ing insane and you are either a or a troll
    Many people with millions continue to work - Think Jeff bezos and others

    But the point is not about retiring - In London 75K a year before tax is not much at all and most middle class families have incomes well north of 100K plus

    So please be polite and keep this professional - My question was sincere and genuine - Many people earn income from stokcs and BTL including barristers and accountants and still go to work to make more

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      #32
      Originally posted by LondonPM1 View Post
      My question was sincere and genuine
      What was your question?

      Comment


        #33
        Originally posted by jamesbrown View Post
        It is a blog post that belongs in general. Literally no one cares about your personal circumstances or musings about what makes sense or doesn't make sense from your financial POV.

        I cannot detect a question in there (absence of a question mark being a good indication), so there is no question that merits our attention. General.
        My question is:

        DO YOU AGREE WITH THE MATHS.

        If yes perhaps someone can make this a sticky and create a spreadsheet where people can type in passive income and work out their true marginal tax rates based on passive and work income

        for me doing this exercise was an eye opener

        And for contractors who are smarter than general earning 700 a day now considering perm this is likely to be HIGHLY relevant

        Comment


          #34
          Originally posted by LondonPM1 View Post
          My question is:

          DO YOU AGREE WITH THE MATHS.

          If yes perhaps someone can make this a sticky and create a spreadsheet where people can type in passive income and work out their true marginal tax rates based on passive and work income

          for me doing this exercise was an eye opener

          And for contractors who are smarter than general earning 700 a day now considering perm this is likely to be HIGHLY relevant
          Nope the general opinion seems to be that you are a or a troll.

          Oh and Jeff Bezos and the other people you talk about don't work for others - they employ people and that's a far more sane reason for working if you have money.
          merely at clientco for the entertainment

          Comment


            #35
            Originally posted by eek View Post
            Nope the general opinion seems to be that you are a or a troll.

            Oh and Jeff Bezos and the other people you talk about don't work for others - they employ people and that's a far more sane reason for working if you have money.
            Its nice to know that after 5 years on this forum where I normally read the forums for helpful info we have pleasant people like this answering a question with a statement purporting that I am a troll.

            Maybe you can tell all the barristers and doctors to retire once their wine and art portfolio nets them 75K

            Luckily we do not work together.

            Kindly refresh your memory with reading this https://www.contractoruk.com/forums/...al-forums.html
            Last edited by LondonPM1; 13 September 2020, 14:09.

            Comment


              #36
              The title, should be "Why a 100K salary does not make it worth it to work if you're already wealthy"

              Most City workers are in their 20's and 30's. The tax system works fine for them.
              I'm alright Jack

              Comment


                #37
                Originally posted by LondonPM1 View Post
                Its nice to know that after 5 years on this forum where I normally read the forums for helpful info we have pleasant people like this answering a question with a statement purporting that I am a troll.

                Maybe you can tell all the barristers and doctors to retire once their wine and art portfolio nets them 75K

                Luckily we do not work together.
                We wouldn't because I have always made sure I have enough money to tell s and muppets where to go...
                merely at clientco for the entertainment

                Comment


                  #38
                  Originally posted by BlasterBates View Post
                  The title, should be "Why a 100K salary does not make it worth it to work if you're already wealthy"

                  Most City workers are in their 20's and 30's. The tax system works fine for them.
                  I would love someone else to show you why a 100K for a mid 30s living in london with two kids does not go far alone after bills etc.

                  Do you really think these figures make anyone remotely wealthy when a mid terrace house in Balham goes for 1.2 MM?

                  This thread is going sideways - I wanted to emphasise the marginal tax for those with passive income and I hope I have achieved that - If you can contribute to that discussion with ways to optimise or mitigate this please do- I cannot believe i am the first to think that perm working is just not worth it after tax if you have a passive income

                  Comment


                    #39
                    Property empire with profits of 75K pa and it's in your person instead of a Ltd while suggesting becoming a Amazon crapware dealer to operate as a Ltd. Bonkers.

                    Comment


                      #40
                      Originally posted by TheGreenBastard View Post
                      Property empire with profits of 75K pa and it's in your person instead of a Ltd while suggesting becoming a Amazon crapware dealer to operate as a Ltd. Bonkers.
                      Please do tell

                      Bonkers because what? 75K PA is far too much and I should retire? Bonkers because of something else?

                      I ve looked carefully at moving the properties into a LTD - It does not make financial sense to do that with CGT and stamp duty liabilities

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