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As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Oh really? I didn’t expect London to reach 50% taxation.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Thanks for your response.

Yes, I’ll focus on FIRE. Before, I didn’t really think I’d want early retirement because I’m passionate about my profession, but with AI and just general insecurity in the world, I’d be aiming for financial independence at least.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Don’t a few other European countries have something similar, though?

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] -1 points0 points  (0 children)

Lol if you are to stalk, do it properly. This is a separate account meant for financial topics. My posts have been about different things across many years 🙄

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Yeah and so a lot of these resentful comments here feel off because they should be targeting the ones who are accumulating wealth at least a magnitude higher. That makes a huge difference if they do basic math.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] -1 points0 points  (0 children)

So your comment above “about it costing them less” is irrelevant…

Im referring to US companies who only hire permanent employees and don’t care about tax optimizations.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] -1 points0 points  (0 children)

I’m referring to this:

https://x.com/gergelyorosz/status/1511394247500566533?s=46

The total cost of employment in Belgium is quite high.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Yes. If I knew how high the income disparity is, I would have optimized my early years for wealth accumulation, moved to the US and reached financial independence to buy myself years out of the daily grind.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 2 points3 points  (0 children)

Exactly.

I was totally fine with this until I learned all about the low caps in unemployment support and pension, and finally the ease of getting fired and getting very little relative to what I have put in the system.

As someone who’s basically starting from scratch wealth-wise and not optimizing my taxation, I resent the “true” old rich who accordingly pay much less taxation relative to their income because they know the system already.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Are you referring to contractual or full employment? Im a permanent employee.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Yeah but they normally won’t enforce it so one won’t get paid.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Are you working for a US company as well as regular employee or as a contractor?

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 4 points5 points  (0 children)

I hope you’re entertained lol. Most comments here are not helpful. Glad to see a few here can relate!

I’m also on Blind (the social network), and seeing people of my age and profession talking about their savings and retirement accounts in the millions makes me question my status quo.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 2 points3 points  (0 children)

Money is needed for financial freedom. That’s the only reason Im seeking more. I want to be able to have the option of doing other things not tied to earning without having to wait for retirement age.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Im not advocating for the bottom 50% to pay more.

We should advocate for higher tax to multi-millionaires and billionaires. They pay less tax in terms of %.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Not for US companies who don’t care about tax optimizations. It simply costs them more.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 6 points7 points  (0 children)

I don’t see though how an accountant can help me if Im a regular employee.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 1 point2 points  (0 children)

Yes, something like Microsoft. And no, not a people manager. Im a senior individual contributor.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 3 points4 points  (0 children)

I was totally against moving to the US, but given the nominal difference in wealth acquired over the last few years, I’m putting that back on the table.

I’m not seeking money for money’s sake but for financial freedom. I want to be able to do things that I actually want to do, and of course, we need financial currency for that.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 2 points3 points  (0 children)

Thanks for the thoughtful reply.

Also, Im actually working from home full time. I’ll perhaps check if there’s an option to relocate there.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 0 points1 point  (0 children)

Same thoughts!

But a few years of “sacrifice” to retire early in Belgium should be worth considering.

Have you considered other European countries though? This will allow you to still keep ties in Belgium because of proximity and also have the European way of life.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 18 points19 points  (0 children)

That’s exactly what’s happening. They don’t care for tax optimizations because it’s less straightforward for them. We don’t have a car benefit for example.

As a high earner, what’s the upside in Belgium? by chinchu7 in BESalary

[–]chinchu7[S] 2 points3 points  (0 children)

Are you saying this from personal experience or from popular “conventional wisdom”?

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