- Joined
- May 6, 2013
- Messages
- 26
Rep Bank
$220
$220
User Power: 50%
I'm living in Canada, province of Québec. We are a strong socialist province with a lot of benefice/cash for the poor/poor-middle class.
After my second child, my wife was supposed to return to work in September 2013 (new mother here got about 5 month off at 70% salary compensation + another 7 month at 55% salary compensation).
We decide to do our math to see what are all the options we got and we were really surprise to see that if she go to work, 37.5 hrs/week, all year long, she only bring 5600$ net while she gain 25 000$ ! That's right, over 77% in tax !!
Why so heavily taxed ?
Because we're in the middle-poor class. Because we got 2 kids. So every new dollars we got in salary, we got cut in social program.
What's the plan/advantage ?
My wife will not work but we will keep our two daughters at home too. She will not get more time to work on our business but I will not waste time to bring our kids to the day care. I will get more time to work on our business because of this, I will go to work in my slowlane job earlier in the morning, giving me more time to work in our business in the afternoon.
Also, my wife will take 2 other kids part time so ours daughters are not only with each other all the time, they need to socialize a bit too. We we'll put this additional revenue in our corporation (open from a past failure) and be taxed at 18% instead of 77%. That mean more $$ to invest in our business.
Is it for you ?
Are you're living in a socialist country, able to live a frugal life style while you work you're way to the top(frankly its not that hard when you're 100% commitment to you're project) and having a supporting wife ?
If you live in Quebec, here the tool I use to calculate our real revenue, if not, I bet there something similar in your country
Calculette_fr.swf
Please, do you math !
After my second child, my wife was supposed to return to work in September 2013 (new mother here got about 5 month off at 70% salary compensation + another 7 month at 55% salary compensation).
We decide to do our math to see what are all the options we got and we were really surprise to see that if she go to work, 37.5 hrs/week, all year long, she only bring 5600$ net while she gain 25 000$ ! That's right, over 77% in tax !!
Why so heavily taxed ?
Because we're in the middle-poor class. Because we got 2 kids. So every new dollars we got in salary, we got cut in social program.
What's the plan/advantage ?
My wife will not work but we will keep our two daughters at home too. She will not get more time to work on our business but I will not waste time to bring our kids to the day care. I will get more time to work on our business because of this, I will go to work in my slowlane job earlier in the morning, giving me more time to work in our business in the afternoon.
Also, my wife will take 2 other kids part time so ours daughters are not only with each other all the time, they need to socialize a bit too. We we'll put this additional revenue in our corporation (open from a past failure) and be taxed at 18% instead of 77%. That mean more $$ to invest in our business.
Is it for you ?
Are you're living in a socialist country, able to live a frugal life style while you work you're way to the top(frankly its not that hard when you're 100% commitment to you're project) and having a supporting wife ?
If you live in Quebec, here the tool I use to calculate our real revenue, if not, I bet there something similar in your country
Calculette_fr.swf
Please, do you math !
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
