Forwardsteps on Nostr: It's more painful than that, isn't it? 7% compounding, right? They don't simply take ...
It's more painful than that, isn't it? 7% compounding, right?
They don't simply take 7% from the same level of income annually, they actually reduce your take home pay 7% annually.
For example...
From $100 in year one they take $7, from $93 in year two they take $6.51, from $86.41 in year three they take $6.04, and so on.
Or have I got that all wrong? 😑 I always tend to blank out when it comes to numbers. 😂🤓
They don't simply take 7% from the same level of income annually, they actually reduce your take home pay 7% annually.
For example...
From $100 in year one they take $7, from $93 in year two they take $6.51, from $86.41 in year three they take $6.04, and so on.
Or have I got that all wrong? 😑 I always tend to blank out when it comes to numbers. 😂🤓