Capricorn Life | Buyers Agent

Rockhampton, Gladstone, Mackay, Airlie Beach, Emerald, Bundaberg, Yeppoon, Agnes Waters, Whitsundays


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Where does all your money go?

Below is a breakdown of where your money goes. On average most Australians are in the 32.5% tax bracket and pay 32.5% in taxes, if they are home owners and paying down a mortgage that works out to be approx. 31.3% of your income (approx. 25% if you are renting) and lastly the Government takes a compulsory portion of your income in the form of Super approx. 9.5%. When you look at a 40 hour working week and break down those percentages who are you really working for…

Tax Office = 13 hours
Mortgage/Bank = 12.5 hours
Super = 3.8 hours

Total = 29.3 hours you are working for those 3 things a week. Then you have the remaining 10.7 hours to earn money to pay for bills and other living expenses. After one week is done it starts all over again the next week – this is called the FINANCIAL TREADMILL. To get off the treadmill property investment can certainly help with that, you don’t have to eventually trade your time earning money. Your money is working for you creating wealth and generating passive or active income. #getoffthetreadmill

What are your thoughts on this?

5 Responses

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