What about taxes?
In neither scenario will he leave with $6.1M or $7.1M. Unless overseas earnings are tax free, he'll have to pay a nice chunk to "Uncle Sam." Now he'll have to live on his salary too, so I would be shocked if he left with $1M after that time...unless he learns how to invest his money.
Now if he invested at least 1/3 of his gross salary each year in aggressive growth funds, he could very easily leave with more than $7.1M...probably closer to $10+M.
But young people are generally stupid about growing their personal wealth. Spend today, and worry about tomorrow when it comes...
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In response to this post by GCHokie34)
Posted: 04/08/2021 at 4:53PM