A 27-year-old Redditor, working as a mortgage broker, reported earning $208,791.37 in 2024 through commission-based work, highlighting significant income potential in the industry. The individual discusses their flexible work-life balance and emphasizes careful tax planning, illustrating the burden of high taxes on their earnings, including over $55,000 in federal taxes alone. The comments also suggest that high earnings do not necessarily require long working hours, promoting an effective management of work-life balance, while recommending tax-deferred accounts as a strategy to mitigate tax bills.
The 27-year-old mortgage broker earned $208,791.37 in 2024, indicating that substantial income is achievable in the mortgage industry, largely driven by commission.
Despite earning a significant income, the costs of high taxes reveal the importance of strategic tax planning for high earners.
The post demonstrates that success in the mortgage field is attainable without the need for excessively long working hours, promoting work-life balance.
Using tax-deferred accounts like Traditional IRAs and investing in real estate can provide substantial tax benefits that are crucial for higher-income earners.
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