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Where I live, we are record savers ( Belgium). Everyone can go on pension at 56 ( much lower pension though) and can have a break for multiple years if they wan

Where I live, we are record savers ( Belgium). Everyone can go on pension at 56 ( much lower pension though) and can have a break for multiple years if they want, during their active career, that's not possible in the US. I have 1 year to go for being debt free ( included buying a house) at 32 age. I also thought it was US citizens that didn't save money? https://www.google.com/url?sa=t&source=web&rct=j&url=https://ec.europa.eu/eurostat/documents/3433488/5280965/KS-SF-09-029-EN.PDF/69f10fe1-9252-423e-bd06-703bc6c8bbd1&ved=2ahUKEwi8spf8ud3tAhVKzRoKHa3cAt4QFjAAegQIARAB&usg=AOvVaw3U8NQYZyWU67L645mht269 https://www.google.com/url?sa=t&source=web&rct=j&url=https:/... Even then, Europe catched up with productivity and some even doubled it vs. the US ( quoting : https://www.euractiv.com/section/innovation-industry/interview/mit-professor-challenges-perceptions-of-us-vs-eu-productivity/ https://www.euractiv.com/section/innovation-industry/intervi... ) > Hours worked does not mean more productive.

burntoutfire 6y ago
I once got a contract offer from Belgium and checked your taxes. They are something like 55% for anything over 60k EUR per year? It means that, even if you get a high paying job, literally most of the money gets taken away. Seem rather hard to save significant amounts in such conditions.
- NicoJuicy 6y ago
  Cost of living is lower? 600€/ month was enough to pay off my house loan. Leaves plenty of room to save money. I literally save like 3-4/5ths, i do think that's more than average though. Renting a place here would be 300-900€/month. I know someone who rents at 250€/month in the city with a decent house ( that's an edge case though) Note: I'm paying off my loan early.
  - pc86 6y ago
    And there are places in the US where modest homes in good areas are $90-100k and will get you a similar payment even with less than 20% down. I'm not sure what your point is?

burntoutfire 6y ago

I once got a contract offer from Belgium and checked your taxes. They are something like 55% for anything over 60k EUR per year? It means that, even if you get a high paying job, literally most of the money gets taken away. Seem rather hard to save significant amounts in such conditions.

NicoJuicy 6y ago
Cost of living is lower? 600€/ month was enough to pay off my house loan. Leaves plenty of room to save money. I literally save like 3-4/5ths, i do think that's more than average though. Renting a place here would be 300-900€/month. I know someone who rents at 250€/month in the city with a decent house ( that's an edge case though) Note: I'm paying off my loan early.
- pc86 6y ago
  And there are places in the US where modest homes in good areas are $90-100k and will get you a similar payment even with less than 20% down. I'm not sure what your point is?