Jack Albrecht
1 min readDec 6, 2021

--

In the real world your math doesn’t work, or proves my point.

Ironically it recently came out (ProPublica) that Buffet pays a tax rate of 0.1%. That is the only way you can save $12k in 1.5 years with your hypothetical job.

Apropos: What high school student gets a $15/hr part time job? What high schooler can work and not need the money?

Freshman Highschoolers are 13 years old. Where are they going to work? Where will they work for $15/hr?

In the real world, your math doesn’t work. You’ll get about $4.50 after taxes, or $45/wk. Further in that real world, you’ll spend more than half of that living, including getting to a from work. If you actually started working at age 13 and never took a vacation you could theoretically save about $4500 after four years. Realistically, you’ll have a few hundred.

In the world of Warren Buffet, whose father was a Congressman and stock broker, you can get $15/hr or more doing something physically undemanding from some friend of the family while having a car and all expenses paid by your parents. The result is you can put all your “earnings” into the bank and have $12k saved after high school. Just like I wrote.

--

--

Jack Albrecht
Jack Albrecht

Written by Jack Albrecht

US expatriate living in the EU; seeing the world from both sides of the Atlantic.

No responses yet