Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,192,948 members, 7,949,257 topics. Date: Sunday, 15 September 2024 at 12:15 AM |
Nairaland Forum / Nairaland / General / Travel / Nigerians In USA, Do You Save More Than N15 Million Yearly? (59447 Views)
Yearly Salary & Monthly Income After Tax Deductions In UK / Nigerian Man Makes N207 Million Yearly Carrying bag of Cements in South Korea / Give Birth In USA: Cost And Procedures Part 6 (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply) (Go Down)
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Nobody: 3:27pm On Mar 07, 2021 |
Ibrahimmrfish:ogbeni go and sit down you are a bloody liar 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by nigeriagospel(m): 3:27pm On Mar 07, 2021 |
Seniorwriter:yeah, that's my boss spilling some secret. |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by tunapawizzy: 3:27pm On Mar 07, 2021 |
kovic20:60 to 70k isn't as much as people make it look sha |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by chrisj2(m): 3:29pm On Mar 07, 2021 |
I am enjoying the tax ding dong! Most tax systems give some sort of personal tax free allowance and they have thresholds until you hit certain tax brackets. So it is virtually impossible for someone on $150,000 to pay 40-50% on the whole income. However, now if you include all other types of taxes, the tax burden could rise depending on circumstances... Indirect taxes could also be added to the tax burden too because they take away from your disposable income. In the UK for example, we pay council tax - not everyone and it is also just an household tax. That is also tax and it will be have to be paid out of one's income. However, the council tax burden is less for a good two-income earner than a single person on average wages. And it also depends on house price and location. All that said, saving money is not that easy in western countries and like someone said, it is also a personal thing based on many variables. 7 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by fowlyansh181(m): 3:29pm On Mar 07, 2021 |
OP dey carry una catch cruise .. person wey make 22mil last year legally no go Dey online Dey drag abroad on a Sunday afternoon.. he would go, experience it for himself and make a decision .. Them carry una Dey catch cruise 11 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by shegzhkn: 3:30pm On Mar 07, 2021 |
Ibrahimmrfish: Mr. are you in the states ?? 2 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Saintp(m): 3:31pm On Mar 07, 2021 |
MrGoood: Are you now comparing yourself with minimum wage workers abroad when you are a millionaire? Are you sure you really want to get some insights or you are stylishly mocking some people? There will always be super rich, rich, middle class and poor in every country of the world. So to get a fair assessment, your comparison should be like for like not millionaires vs minimum wage comparison 9 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Predstan: 3:32pm On Mar 07, 2021 |
. 5 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Prajonis: 3:32pm On Mar 07, 2021 |
tonididdy:For me that should make relocating easier for me. Not like there's no crime in the US but Nigeria is just too unsafe for anyone who's able to save 22mill yearly after expenses. I'd advice anyone with such fortune to run away now that they're still breathing. 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by flexyrule(m): 3:33pm On Mar 07, 2021 |
Henvest:No mind the OP. This is nothing but a Dreamers/Babies thread. People who make/have such amount don't engage in beer parlour gists. 10 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Predstan: 3:33pm On Mar 07, 2021 |
shegzhkn: This guy doesn’t know what he’s saying. He’s a product of research not reality 1 Like 1 Share |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Yankee101: 3:34pm On Mar 07, 2021 |
1. What is your education? 2. What is your skill set? 3. What expenses will you allow or not? 4. How much faaji do you want or not? That's what will determine your savings But living abroad in not about money for most people. It's safety and comfort first. Atiku and Aisha Buhari both live in Dubai now. They'll make more money if they are on ground in naija. But if they fall sick or there's a coup, then all their money is useless. For the common guy, bandits, NEPA, thieves, 419, quality education for your children, top notch Healthcare etc are the major drive to live abroad. It's like saying you have 100m now, would you like to have 500m but live permanently in Afghanistan or keep your 100m savings and live in nigeria? 10 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by bignero: 3:34pm On Mar 07, 2021 |
SmartPolician: Your not making a point, either talking from experience.. You're just writing.. I don't stay in the us.. But i ve heard the a us residents say ghana is cheap to rent house compared with us.. Mind you in ghana most decent housing comes in us dollars... I also watch real estate shows on dstv.. And the cost of housing yes its varies but its not near cheap.. You don't know read snd learn |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by quickly: 3:35pm On Mar 07, 2021 |
MrGoood: There is no chance - that is a fairy dream. Government dont play with tax. The more you make the more tax you pay. If you over hustle they will over tax you. |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by abbey621(m): 3:35pm On Mar 07, 2021 |
kovic20: They don't! The maximum nominal tax rate is 35% unless you are a high earner earning over 250k dollars per year with corporate tax gains. The U.S tax system offers deductions and credits for almost everything from housing to schooling to moving expenses and business. Without these deductions most Americans would pay close to 40% but in reality almost everyone including the wealthy pays less than 35%. Another point of correction you do get money back even if you're a high earner, it depends on how you play the game, own a business put one or two friends or family on payroll and have one of them run an NGO. You'll end up paying less than 10% in taxes when it is all said and done....God bless America 3 Likes 1 Share |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by kelvindj98: 3:36pm On Mar 07, 2021 |
This nairaland and fake stories. 4 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Dukeolumidemans(m): 3:37pm On Mar 07, 2021 |
kovic20: What u said it true. That's why my uncle is fuccking rich. Now I understandw how he did it. |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by PDJT: 3:37pm On Mar 07, 2021 |
Ayo2004: -I believe the angle I’m looking at is more fundamental than the way you are seeing it. -I’m talking about the major benefit of traveling abroad or outside your local domain, which is exposure. Isolation has been known as one of the major ingredients for backwardness, hence why I advocate for Nigerians to travel and see. I’m not after how they can afford it, am talking about the benefit for them and their society. As par expenses- it’s not my expense, so I will leave that bit for the individual. -Yes, dreams and aspirations do change or get modified over time. As Sigmund Freud taught us in his Psychodynamic analysis, our dreams comes in layers. In order words, someone’s dream can be to just leave Nigeria, that doesn’t mean that’s where the person’s dream ends. That could well be the start of the person’s dream. You get me now? -Meanwhile, those names you pulled out are people of exceptional talents, that comes once in a generation, not your average Joe. It’s like comparing Professor Wole Soyinka with the likes of Carl Jung and Nietzsche. Not everyone has the talent to be super-successful or a Ronaldo, a kid’s football dream could just be to become a Jurgen Klopp - who played a little and became a football coach. -Don’t be a classist. Every human and their society can benefit from migration not just your “serious-minded and rich Nigerians”. Even the rich can benefit from the “poor” being exposed. 9 Likes 1 Share |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by bignero: 3:38pm On Mar 07, 2021 |
tempest01: Why the frustration are you that broke that you insult the guy for no reason? Omo nobe soo.. Like some one said even Dangote de fine money.. Carry your frustration ginger yaself or put am for ya pocket 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Predstan: 3:38pm On Mar 07, 2021 |
. |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Juliearth(f): 3:38pm On Mar 07, 2021 |
MrGoood: If you can be able to garner this much while in Nigeria, all things being equal, I am quite positive that you would make far more than that amount abroad. Your major set back however,would be tax. 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Nobody: 3:41pm On Mar 07, 2021 |
lakesider: I have lived abroad for many years but that is neither here not there. The figures dont lie! I posted facts, refute them with your own figures!! Any Naira asset that isnt increasing in naira at a rate faster than the combination of inflation plus the rate of depreciation of the naira is a loss making asset. if you dont understand the effects of inflation and devaluation then you dont understand money and wealth preservation talk less of wealth creation. Wealth is not about how many zeroes or millions but what you can buy with it. If you can buy an asset now for 1m and in 1 year that asset will cost 1.5m but the bank offers you 40% interest for a year then only a fool will choose to put his 1m in the bank and collect 40% interest because in a years time despite your 40%, you cant buy that house and the purpose of putting your money in the bank at 40% was to increase your wealth which clearly you havent. Similarly if you buy a property today for 1m and in 1 year the property is 1.5m, you may think you have become wealthier but if the Naira falls 50% in the same period, you've actually lost wealth despite the increase in naira price because if you do the calculation youve actually lost 25% of your wealth. This is why you factor purchasing power (defined in this Nigerian context as currency depreciation and inflation) not absolute figures when factoring wealth. There is no bigger example of the destructive effect on Wealth by earning in Naira than Dangote. In 2014 he was worth $25B, his businesses have growing since and made more money in Naira but today he is only worth $11B! ...thats how effed up earning in Naira is !!!! If the naira had been stable the progress in his companies would have been reflected in an increase in wealth to $33B but instead thanks to ever present phenomenon of naira devaluation, he is only worth $11B. A word is enough for the wise, if you have the opportunity, move/keep all your investments abroad!!!! Dispute that with examples and figures like I did, instead of talking about who and who hasnt lived abroad! 27 Likes 2 Shares |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by yanabasee1(m): 3:41pm On Mar 07, 2021 |
MrGoood: You refused to mention your business and what you do to earn 22mil but opens a thread to ask people to be sincere about their income and business... You are not a good person. 14 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Gbabe2: 3:42pm On Mar 07, 2021 |
kovic20: I have a problem with people that only live on hear say and run by that blindly. How on earth can govt tax someone with an annual gross income of 150k, 75k usd? How on earth? Oga park well jare. Taxes in the United States varies and the higher you earn the higher you pay. For example, if you earn like 400k usd, your federal tax can be up to 40 percent excluding state taxes. Savings in the US is an individual thing and what you do for a living. I have a Nigerian Neigbor that works with John Hopkins as a radiologist. She earns almost 324k roughly and that’s her own income excluding her husbands income. Now you have to figure bills and expenses. Car insurance, mortgage, life assurance, and all other incidental expenses. In addition, it also depends on how frugal the individual is. Dining out, constant shopping etc. Yes, it’s easier for someone with a business and practice to earn more but they as well pay taxes whenever they make profits. In conclusion, saving money in any part of the world depends on why do you for a living and how established you are. I live in the United States and I can tell you I had over 176k as taxable income in 2020 and it was very difficult to have a net savings of almost 50k USD after all expenses. 6 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by Originalsly: 3:42pm On Mar 07, 2021 |
BigDawsNet: It's very possible with blue collar jobs.... many of them. Find out from those who work in construction... are in the union and have work most of the year.... find out from Sanitation Workers ( garbage men).. those who work for New York City... find out from truckers... especially long haul truckers .... find out from parcel delivery drivers working for UPS and USPS ... find out from plumbers and mechanics... and I can go on. Professionals are usually salaried.... blue collar workers are paid by the hour.... and after 8 hours each day..his pay per hour increases by 50%..He has the potential to make more than a professional... and they many do earn more than degree holding professionals. So yes... N15M is very possible to save by blue collar workers. I say this because I am a blue collar worker ..... and with no certified skill. @ topic .... too many factors are involved in how much one can save annually. But most important is how much you earn and your cost of living expenses. 4 Likes |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by tunapawizzy: 3:43pm On Mar 07, 2021 |
Op if u are saving 22m a year in Nigeria, I do not think u should have an urgent need to relocate, except u r looking to create some sort of balance between living a quality life and making money. To save that much in the US would mean having a job that can help u save almost 4k every month after tax deduction and living expenses. If na 15$ per hour job u go do for yankee, it will be practically impossible. If the business u do is not unstable or illegal, I think financially u r doing better than even 20$/hr in d US(if u r sure of getting 25 to 30 maybe). But again is the quality of life u get abroad worth sacrificing 22m savings in Nigeria? Personally I will say No. 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by tonididdy(m): 3:44pm On Mar 07, 2021 |
Prajonis:Well u're right. But I may probably work 2 or 3 years more before a permanent relocation. 1 Like |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by bptc10: 3:46pm On Mar 07, 2021 |
70% of Nigerians in America have never see such amount of money in their life |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by tunapawizzy: 3:47pm On Mar 07, 2021 |
Predstan:So here is the real point, is the poster willing to come start all over before he can get to that level...how many years will it take him to get to dat level. |
Re: Nigerians In USA, Do You Save More Than N15 Million Yearly? by quickly: 3:47pm On Mar 07, 2021 |
Predstan: Bro that guy is correct , its you that dont know what you are saying. If you make $600K per yr - Which is more than USA president salary. ( only 0.00001% make this amount) you will be paying more than 50% tax -Federal income tax -Social Security Tax -Medicare Tax -State tax ( if you live in a state that collect state) If you are doing businees on the side and you make big money above 400000 -you willpay additional 20% tax. If you make 21m every year in naija after tax ( in profit ) after paying your bills and you want to throw that a way and move to usa then u are jonesing. Earing 21mN as salary is different from saving 21m every 3 Likes |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply)
DON'T LISTEN TO Anyone Who Discourages You From Travelling Abroad / China Places Visa Ban On Nigerians Over Coronavirus / Ibom Air Acquires New Aircraft, Fleet Number Increases To 4
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 105 |