Per Diem Screws the Driver

All I know is social security is not a retirement fund. It's a supplement payment.

 

Nothing wrong with that. Who needs a $300,000 mansion as a first home.

 

What are you TALKING about? People should get what they want and can afford. Lmfao

 

Per diem lets the company pay less taxes while giving you less money to draw when you get injured or retired. So you are only screwing yourself if you take it, grabbing the fast cash but when you need to draw out of one of them federal accounts you will be getting a smaller check.

 

I worked for one company that charged me a one dollar administrative fee every week when they took out my child support deduction. The other company I worked for didn’t charge me anything. These fees are entirely arbitrary. There is one easy way to keep your per diem deduction and that is to become an owner operator because the tax code preserved per diem for business owners. It was only company drivers that got the shaft. One thing that hasn’t been mentioned thus far is 401(k) matching funds provided by some employers. Last year my wife and I were both enrolled in the 401(k) but she chose to take the per diem pay and I chose not to. After the company matched our contributions I had over $1000 more in my retirement fund than she did. Taking per diem as part of your pay will screw you in more ways than one.

 

If you see a mansion for @ $300,000. you better jump on that quick because that is the price for a chunk of land with a shack on it now, that is the low end of housing market now.

 

Sounds like a plan.

 

Only problem is everyone thinks we must always expand, get bigger but sometimes there is a huge contraction, best squirrel it away and wait for that. But it will be messy when it goes down.