Germany has a progressive tax system.
http://en.wikipedia.org/wiki/Taxation_in_Germany
No income tax is charged on the basic allowance, which is €8,004 for unmarried persons and €16,008 for jointly assessed married couples. Beyond this threshold, the marginal tax rate increases linearly from 14% to 24% for a taxable income of €13,469 (€26,938 for married couples). In the subsequent interval up to a taxable income of €52,881 (€105,762 for married couples), the marginal tax rate increases linearly from 24% to 42%. The last change of rates occurs at a taxable income of €250,730 (€501,460 for married couples) when the marginal tax rate jumps from 42% to 45%. The course of the marginal tax rate and the resulting average tax rate are depicted in the graph to the right.
Hello from Germany!
Re: Hello from Germany!
@SilverElephant:
I think you can take your time with investment as you build your savings. At first, you won't lose much by just having it sit in the bank account. As you read and learn more about investing, you can start investing small sums and as you save more, those will grow. Don't start investing hundreds of thousands when you don't know what you're doing. Start small.
I think you can take your time with investment as you build your savings. At first, you won't lose much by just having it sit in the bank account. As you read and learn more about investing, you can start investing small sums and as you save more, those will grow. Don't start investing hundreds of thousands when you don't know what you're doing. Start small.
Re: Hello from Germany!
DINK here, no deductions except charity, don't even have mortgage interest, and my Federal+CA combined tax rate is little under 30%. We both are on company payroll (not consulting or SMB scam) and we are in top tax bracket. I am not sure why others would any worse unless they are making 500k or above per year.workathome wrote:Don't feel so bad about 42%. Taxes in California can now exceed 50%
Re: Hello from Germany!
Welcome! Germany is my favorite country in Europe! While I would never work there considering the hierarchy/work culture in general, I always enjoy my travel experiences in Germany. Swimming laps at Olympia Schwimmhalle (1972 Olympics) was more awesome than attending Oktoberfest. I did not attempt diving, as I did not want to be Mr. Beansilverelephant wrote:Hello everyone,
(TL;DR: physics major from Germany, 25, already somewhat frugal,
Hope you find a job soon and get towards ERE soon!
Re: Hello from Germany!
Welcome SilverElephant! Don't feel sad if you're not INTJ. I think most people here are ISTJ, INTJ and some INTPs. ISTJs seems to be interested in ERE the most.
I grew up with my grand pa who fought the war. And I can totally relate with you regarding your father.
I hope you reach ERE soon!
I grew up with my grand pa who fought the war. And I can totally relate with you regarding your father.
I hope you reach ERE soon!
Re: Hello from Germany!
Welcome SilverElephant. Also from Germany? How have you done since July 2013? What have changed since then in your life? Are you on the way to your FIRE goals?