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Why would Beatrice in that case? She's not making that much and a recurring thing in that article is it is a mix of high paying work and old money. People are r
by xemdetia 9y ago
Why would Beatrice in that case? She's not making that much and a recurring thing in that article is it is a mix of high paying work and old money. People are really weird about money (which is kind of the theme of this article). Direct personal employment is a difficult thing, you have to pay someone else within your means and make sure you have enough money to pay them if you yourself have a lapse in employment/money issue.
- mrguyorama 9y ago>She had a household income of $250,000 Not making much, compared to what frame of reference?
- xemdetia 9y ago$250k gross income is not a lot of money to factor in a personal employee. Even with extensive finangling you're probably paying 35% tax on that. So that's 162,500 net. Split that into 12 months. 13,541 a month. Giving a reasonably fiscally sound plan of a third to savings, third to household expenses and a third to day to day cash, that's 4513 a month in the area where you can plan to spend these things. 35,000 a year is roughly 2,916 a month which is more than half of that kind of loose cash area. If you play with the numbers and weasel out 50k that's still roughly 4,166 a month which is almost a third of this take home income. A personal employee does not make you money, you are only buying time. You are buying this time year after year. 250k is basically the point in time where hiring help starts to make sense at all, which is why I am saying she is not really making a lot of money to give a generous salary increase. If you are making 500k+ you can certainly pay more but 250k is table stakes to pay something OK and not sacrifice your own financial stability/pay for kid's college.