How to get rich without getting lucky

Re:How to get rich without getting lucky by wtvanhest on Friday June 01, 2018 @12:44PM (#17207186)

The math is very simple, you need about $30k/year which is $50k pre-tax. That is 50 hours a week at $20/hour with no weeks of vacation + school.

It is extremely difficult to make $50k/year with no degree or experience. That is almost the house hold median income in the US (2 people working). (Currently: $59k/year)

[ Parent | on HN ]

Re:How to get rich without getting lucky by snark42 on Friday June 01, 2018 @01:44PM (#17207959)

> The math is very simple, you need about $30k/year which is $50k pre-tax.

This is wrong.

$30k - $12k standard deduction = 18k taxable, 0% tax on 0-$10k, 12% tax on $10k-$18k = -960 taxes owed, then you get 2500 American Opportunity Credit or $2000 Life Long Learning Credit. So if you earn 30k as a "full time student" you would take home ~$31k less 0-10% state income tax on $18k

[ Parent | on HN ]

Re:How to get rich without getting lucky by wtvanhest on Friday June 01, 2018 @10:13PM (#17212232)

Good point. I can no longer edit my post. Even still, $30k per year is too much for the majority of people.

[ Parent | on HN ]