This Article is About
income brackets
financial future
business online
good job
trial and error
own business
debts
dilemma
governments
Savings Tax: Something We All Need To Pay Attention To
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Savings Tax: Something We All Need To Pay Attention To

So now they are taking our savings. The last bastion of the old ways of accumulating wealth is soon to vanish.

Am I being melodramatic? I don't think so. Once people get used to one savings tax, that will be it.

Game over. More taxes will pass.

That is how it all started in the first place. The first ever tax passed was a kind of "Robin Hood" tax, where only the rich paid it and the money was used to help pay for services for the poor. Not exactly how it worked out in the end though right?

Because once people had got used to the concept of tax, it was all too easy for governments to lower the income brackets, change the definition of "rich" to encompass more people, and introduce new taxes altogether.

So, back to my initial statement: the last bastion of the old ways of accumulating wealth.

What exactly do I mean by this?

For a long time, the general path most people followed was this: get good grades -> get a good job -> work hard -> spend wisely -> avoid debts -> grow savings -> retire and live off pensions and savings.

A lot of those stages are pretty difficult to adhere to these days, particularly avoiding debts and relying on a pension, but at least we had our savings.

But now, with us being forced to pay taxes or reduce our savings, what's left?

Yes, it might only be the richest that this applies to, and it might not be global yet, but history is on the side of cynicism here.

So what choices are left?

For me, I've been spending more and more time learning how to take my finances into my own hands. It's taken me about three years of researching and trial and error, but by building up my own business online, I've been able to increase my income, free up some time, and work from wherever I want.

As for dealing with the problems of saving tax, that is a new dilemma that I will solve in time, but by taking control, I feel like I'm in a good situation to face the financial future.

You can track my progress on my blog to see how I built my business and how I deal with things like this in the future.

The change from "the old way" to the newer ways of dealing with finances was subtle at first, for the last couple of decades nobody really noticed it. Even now, people are more concerned with clinging onto old beliefs and complaining about changes, than looking for other ways to take control of their futures.

I hope we all wake up soon.


Street Talk

What next ey? I really like the visual aspect of your site Dom

Reply
  about 9 years ago
Meredith  

Scary and All True, Dom. We need to pay attention to all the changes happening at warp speed. My mom always said,"The best helping hand is at the end of your Own shirt sleeve". Thank you for the reminder.

Reply
  about 9 years ago
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