Chapter
The Cost of Living in New York City
33:29 - 37:56 (04:27)
The cost of living in New York City is significantly higher than other cities due to the high income and rent taxes. The additional costs can amount to four to five hundred thousand dollars a year, not including other expenses.
Clips
The host is debating whether he should let taxes decide where he lives, as he misses the energy of New York despite the state's high income tax.
33:29 - 34:38 (01:09)
Summary
The host is debating whether he should let taxes decide where he lives, as he misses the energy of New York despite the state's high income tax.
ChapterThe Cost of Living in New York City
EpisodeFrom $0 to Billionaire By Starting A Toy Factory In China - Billy Of The Week
PodcastMy First Million
The speaker discusses the impact of income taxes on a million dollar income, with a federal tax rate of around 36% resulting in a monthly income tax payment of $31,000, and additional taxes in cities and states adding up to around $11,500 per month.
34:38 - 35:40 (01:01)
Summary
The speaker discusses the impact of income taxes on a million dollar income, with a federal tax rate of around 36% resulting in a monthly income tax payment of $31,000, and additional taxes in cities and states adding up to around $11,500 per month.
ChapterThe Cost of Living in New York City
EpisodeFrom $0 to Billionaire By Starting A Toy Factory In China - Billy Of The Week
PodcastMy First Million
The cost of living varies depending on where you live and it heavily affects your income and expenses.
35:40 - 37:56 (02:16)
Summary
The cost of living varies depending on where you live and it heavily affects your income and expenses. It is essential to weigh the pros and cons of living in different places before making any decisions.