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Reply to "all of the people making 250k, 300k, 500k - what do you do?!"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I haven't read all these posts, but one thing to keep in mind is some people may be quoting their salaries as an independent contractor. DH recently turned down a job that paid a lot more on paper, but going from employee to independent contractor would have meant paying all the taxes on that income and losing benefits + retirement matching. He realized he is actually better off with his current lower salary. HHI is only part of the package, so some of these contractor salaries are not as high as they actually seem.[/quote] For two salary households, where one has access to benefits, it is actually encouraged for the second one to go the independent contractor route to get a bigger check. [/quote] But once you pay all your own taxes and give up employer matching for retirement, which can be 5+% of salary at a good company, the independent contractor salary may actually be lower even if it's 40-50k higher on paper. [/quote]
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