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Nairaland Forum / Nairaland / General / Business / N20million Or Green Card: Which Would You Prefer? (26959 Views)
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Re: N20million Or Green Card: Which Would You Prefer? by 989900: 7:38am On Oct 10, 2015 |
teetee12: If that's your plan, 'smart thinking' -- but you could be 'smarter' by taking that N20m first, and along with you. |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 7:44am On Oct 10, 2015 |
jaybee3: Bro, your calculation is wrong. You didn't include state tax. Someone making $100,000 a year takes home 69k after tax. Very few states in the US. without state tax. Less than six I think |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 7:48am On Oct 10, 2015 |
cococandy: Yes you heard it from me and you should thank God someone is opening your eyes. God help you if you live in New York. Your earnings will drop to $64,000 after tax. People earning $100,000 in New York are just getting by. Quote me anywhere 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 7:51am On Oct 10, 2015 |
mufasaus: Give 99.9% of Nigerians living in America $450,000 and they will tear and burn their American passport. Green card is even small 3 Likes |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 7:56am On Oct 10, 2015 |
ayodele234:Okay is it New York only specifically? Because I don't like to argue what I don't know. I live in Seattle (which currently ranks in the top 10 most expensive US cities to live in) but trust me that 31,000 dollars yearly tax will make anyone who lives here raise their eyebrows at you as if you just dropped from another planet if you say it. But if you say that's how it is in NYC I.e more than 30 percent tax, then I feel really bad for you guys. Kpele. That's really excessive. Have you considered relocating? |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 7:57am On Oct 10, 2015 |
jaybee3:Yea. I thought otherwise, |
Re: N20million Or Green Card: Which Would You Prefer? by 989900: 8:04am On Oct 10, 2015 |
ayodele234: Well said. I was just gon' say why then are well qualified westerners (14th, 15th, generation; not your immigrant black a$$ even) leaving the UK, US, Canada, Australia, and Europe in general, for greener pastures in the middle east? I'm not into self-promotion and sh!t, but I've lived in 8 countries (Nigeria and the US inclusive), schooled in 3 different continents, and visited roughly 20+countries -- it's no guess work here -- we've got to have some perspective. Like I keep saying, "different strokes for different folks". N20m is nothing; it is what you do with it that counts. Likewise, a permanent resident permit of a western country is nothing; it is what you do with it that counts. We are all good at different things. #diversity. If you are smart and lucky enough, you can actually use either to achieve both. P.S. For those throwing around figures, do you understand what PPP is? 4 Likes |
Re: N20million Or Green Card: Which Would You Prefer? by 989900: 8:12am On Oct 10, 2015 |
cococandy: Try France @ 70-75% tax for millionaires. Arnault (the richest French man), I guess was planning to renounce his citizenship. |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 8:20am On Oct 10, 2015 |
989900:I guess you're just pulling my legs. This NL self . I don't even know when one is serious or just being sarcastic. Anyway Millionaires aren't normal people like us |
Re: N20million Or Green Card: Which Would You Prefer? by 989900: 8:23am On Oct 10, 2015 |
cococandy: Pulling your legs of course . . . but for real though, it is 70-75% in France for millionaires. |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 8:27am On Oct 10, 2015 |
989900:Okay. But that's pretty awful though. Na sin to become rich? 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by magicminister: 8:59am On Oct 10, 2015 |
989900: this is false play boy!! The 70 percent tax rate thingy was a plan but it was jettisoned after several considerations |
Re: N20million Or Green Card: Which Would You Prefer? by ttmacoy: 9:13am On Oct 10, 2015 |
And taking a one off $100k guarantees you financial success for the rest of your life? What happens when the $100 finishes which we know it will in the hands of some? Also those on $150k now may have prospects for increased over the years which is why I said all depends on your circumstances and where you are in life. Besides maybe aside NYC and the likes of LA, if you cannot save the you are living above your means pure and simple. If you earn $100k which is near $6k after tax you can live a good life and save. Nothing stops you from acquiring a property e.g. every 3-5 years and renting it out so the rent pays the mortgage. If you cannot manage $100k in most affordable cities in America then why do you think your one off $100k in Nigeria is the solution? This also needs to be seen in light of the persons situation e.g. a young person about 30 years already on $100k has a lot more upswing than a 50 year old on $100k who is at his peak. Will someone in position to get a green card and can practice in the US as a doctor for 30 years rather take a one off $100k? All depends on his situation, how he views his prospects, his goals and dreams. ayodele234: 2 Likes |
Re: N20million Or Green Card: Which Would You Prefer? by 989900: 9:43am On Oct 10, 2015 |
magicminister: Oh, so they eventually dropped the idea -- it almost became law. Well, you still get taxed up to 45-50% or more if you are a high earner -- still awful. |
Re: N20million Or Green Card: Which Would You Prefer? by Dapsin2901: 9:46am On Oct 10, 2015 |
20m is okay for me with 10m am off to China lot of biz in China am sure 5 years more us will beg me to partner with them 20m is my choice 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 11:21am On Oct 10, 2015 |
cococandy: Washington doesn't have state tax so you will be left with $71,000 |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 4:05pm On Oct 10, 2015 |
ayodele234:That's not true but I don't want to argue with you because that would mean me using personal family income information to prove to you that we don't pay 30% government tax here and I don't wanna do that. So let's not go into such details. Even those categorized as the 25% tax bracket group who make 100k will pay about 17,000 out of that MAX which is more like 17% really just that their group is above the 10% group (yes there's a 10 percent group) and below the 25% group so they classify as 25 percenters. You'd have to make significantly more than 100k to be in a higher tax group. I.e 30 percenters. |
Re: N20million Or Green Card: Which Would You Prefer? by Classicool(m): 9:16pm On Oct 10, 2015 |
modelboy:Lol but you know with 20M I can get all I want... And I can be a multi-millionaire within 10years.... Which is impossible in western country... 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by Obiwannn: 8:50am On Oct 11, 2015 |
sleek82:after tax or before tax sir? |
Re: N20million Or Green Card: Which Would You Prefer? by Obiwannn: 8:54am On Oct 11, 2015 |
klax:You advised your friends to return, yet you remained? YEYE DEY SMELL! |
Re: N20million Or Green Card: Which Would You Prefer? by Obiwannn: 9:01am On Oct 11, 2015 |
nextstep:How many persons in Nigeria can boast of 700k in Nigeria a year in savings?don't Forget that this is just his first job. |
Re: N20million Or Green Card: Which Would You Prefer? by nextstep(m): 2:28pm On Oct 11, 2015 |
Obiwannn: We're not comparing him to other wage earners in Nigeria. We're comparing whether a person who got green card is better off than a person getting 20million and staying in Nigeria. I was just showing how you'd have to work for and save 700k over 28 years to save 20million, and all you'll have to show for it is old age. A person with 20million can transform his life by business. A person with green card will grow old working hard for others and never really transform their life. 20million today, well utilized, will yield so much more than a green card, well utilized. 2 Likes |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 2:51pm On Oct 11, 2015 |
nextstep:. Word!!! |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 3:34pm On Oct 11, 2015 |
cococandy: Cococandy, then you must be married. The tax rate for a single person is different from someone who is married. Single people tend to pay higher taxes. Otherwise my calculation is 100% correct |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 3:36pm On Oct 11, 2015 |
Obiwannn: While majority of Nigerians can't boast of 700l savings, 62% of Americans cant boast of a merely $1,000 in their savings account. And that's just 200k when converted. http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06?siteid=yhoof2 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by cococandy(f): 3:44pm On Oct 11, 2015 |
ayodele234:Yes I'm married 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by goodgate: 5:27pm On Oct 11, 2015 |
989900:That guy is a LIAR! 1 Like |
Re: N20million Or Green Card: Which Would You Prefer? by Obiwannn: 8:22pm On Oct 11, 2015 |
nextstep:Your opinion |
Re: N20million Or Green Card: Which Would You Prefer? by Obiwannn: 8:24pm On Oct 11, 2015 |
ayodele234:We all know that the average oyibo man doesn't really care about money and savings. It's the average black man that does, hence the corruption thriving in Africa. Let a black man get a job of 50k USD before tax in a western country, and see how he transforms his family in the end. |
Re: N20million Or Green Card: Which Would You Prefer? by Nobody: 1:09am On Oct 12, 2015 |
cococandy: I have been vindicated! lol |
Re: N20million Or Green Card: Which Would You Prefer? by 4stylz: 10:16am On Oct 12, 2015 |
In Nigeria 20million can disappear into thin air with a single wrong move and the government biz policy is not favorable to guys with that kind of money except you are selling phones in computer village |
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