Property Now
Your Pay Rise Won't Make You Rich (Here's Why)
A $15,000 pay rise in New Zealand sounds like a lot.
Take out tax, ACC, your student loan, and KiwiSaver, and you're left with about $7,500.
Then lifestyle inflation gets its hands on that.
In this video, Ed breaks down why a pay rise won't make you wealthy in New Zealand, and what actually does:
● Why a couple earning $300,000 a year had just $1,000 saved and $59,000 in debt
● Why Ed's own income jumping from $44,000 to $65,000 left him worse off financially
● The exact breakdown of where a $15,000 NZ pay rise actually goes (before you spend a cent)
● Why lifestyle inflation absorbs the rest, and why it's not new
● The lawyer vs the truck driver: why the person earning $500,000 a year lost to someone on an ordinary income
It's not income that makes you rich. It's assets. And most Kiwis spend zero time thinking about acquiring them.
Ok, now for the legal bit:
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We’ve made every effort to make sure the information is accurate. But we occasionally get the odd fact wrong.
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