I was shocked by something I heard from one of my friend’s sons the other day. He is a college graduate with a business degree and fortunately has a job. We were all talking about the fiscal cliff and how it would affect people making over $250K a year. His reaction to the top rate rising to 39% along with the California State tax increase due to Proposition 30 prompted him to say, “Whew, I think I dodged a bullet! I was up for a promotion with a pay raise but someone else got it. I’m pretty sure my...
It's also a matter of insurance costs. A healthy 25 yr old will lower the cost of their group policy while a healthy 50 yr old will raise it. I'm in the same boat. I'm 50 and am doing a job that pays less than I was making selling sneakers over 20 years ago.
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