Msg: 6731 *Conference*

08-04-96 08:43:54

From: RICHARD HANSON

To : ROBERT BENSON

Subj: REPLY TO MSG #6730 (INPUT/OUTPUT)

Yeah, I thought it would have to be 2-working adults.  At $63K for 2, that's
$31.5K each (not actually evenly divided, of course).  If you divide by a 2000
annual hours that's $15.75/hr.  That figure matches some rumors I've picked up
for employeed workers.  Employees are usually supervised workers at a location
with a punch clock.

Since the $31.5K figure is an average.  It represents the combined figure of
all incomes divided by the number of incomes counted and thus does not suggest
that anyone actually earns the average figure.  The median and distribution
would be much more helpful; along with income-by-job-type, age, experience,
etc.  Hmmm... sounds like perhaps the government, or other interested parties
may have these figures.  But who?!  And are they online?

Independent contract workers would be more like $23/hr - $28/hr.  These folks,
of course, would not work 2000 hours/year.  Their work is on-again, off-again
but when working they are only responsible for the end product.  They are
usually somewhat supervised.

Contractors are at whatever they can get for their specality.  They are a
business in-and-of-themselves; usually with a business name.  The $50/hr figure
is often stated, but that is not carved in stone.  I've hired folks from $15/hr
(a local maintenance guy) to $125/hr (our attorney) but there is no limit in
either direction.  Contractors are only responsibe for the end product.  Any
supervision compromises their independent contractor status.  The IRS uses 22
rules to determin independent contractor status.

--

Income is just one part of the economic puzzle.  The flip side is what you
"must" spend to live and what you do with the rest of your money ... if,
indeed, you have any left over.  Another subject is methods you may employee to
augment your earned income.  And yet, another angle is how to throw off debt
all together, i.e. you do not always have to pay what others say you owe.

Some examples:

If you have a credit card, and you pay on time, simply call them every month
and ask for a lower rate, i.e. say to them that you've received offers from
other banks offering lower rates.  Simply ask them what they offer.  You will
be surprised how easy it is to lower your interest dept.  And, if they don't
offer, switch "immediately" to one of the other offers, i.e. if you are paying
on-time you "will" receive offers from other institutions.

Bargin for "everything" you purchase (but don't be a jerk about it).  Then, and
this is the important part, when you receive a lower price than advertised, pay
yourself the difference by placing those funds into your investment account ...
even if it's only fifty cents.  You'll be amazed how fast residuals grow.

Last but not least: Set goals, even if you are sure you can easily reach them,
at least you have a measurement.

What ideas can you come up with?                -Rick-