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How to build wealth (Read 4255 times)
Ex Dame Pansi
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Re: How to build wealth
Reply #15 - Sep 13th, 2012 at 9:52am
 
perceptions_now wrote on Sep 12th, 2012 at 12:06pm:
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids
2.  Don't spend your income on frivolous crap.

The end.


Doesn't leave much life enjoyment?

Is there a point to earning &/or accumulating "money", if not to enjoy life with?

 



You get out of the pub, stop socialising and wait until your wealthy father dies.

Unfortunately, it doesn't appear to have brought Gina much happiness though.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: How to build wealth
Reply #16 - Sep 13th, 2012 at 10:05am
 
perceptions_now wrote on Sep 12th, 2012 at 12:06pm:
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids
2.  Don't spend your income on frivolous crap.

The end.


Doesn't leave much life enjoyment?

Is there a point to earning &/or accumulating "money", if not to enjoy life with?

 



For me, no.

But if wealth accummulation is your thing, there are few worse decisions you could make than getting married and having kids.
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In the fullness of time...
 
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Amadd
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Re: How to build wealth
Reply #17 - Sep 13th, 2012 at 11:26am
 
In regards to wealth accumulation, I don't think it's so much the problem of getting married and having kids, rather than the problem of a dysfunctional family life.

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Mnemonic
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Re: How to build wealth
Reply #18 - Sep 14th, 2012 at 4:09pm
 
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids


Isn't that what you did?
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Re: How to build wealth
Reply #19 - Sep 14th, 2012 at 4:11pm
 
Mnemonic wrote on Sep 14th, 2012 at 4:09pm:
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids


Isn't that what you did?


Yep. 

wealth accumulation isn't my aim.
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In the fullness of time...
 
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hawil
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Re: How to build wealth
Reply #20 - Sep 14th, 2012 at 5:05pm
 
Elayne Taylor wrote on Sep 10th, 2012 at 9:29pm:
I'm not saying there are some huge investments. At least those as SMSF. At least while you work and you take the salary, something to constantly work for you.
And after some time, the money you accumulated money are working for you.

Money does not work in a true sense, only people work.
Here are some extracts from the Australian Financial Review articles on super:
"The average SMSF has an average balance of $900,000; the average balance of a not for profit fund member and retail fund member is $50,000.
The fund managers of other peoples money are gambling with this money, while the SMSF owners can decide themselves, how to make or lose some of their funds.
The Australian compulsory super is just a big fraud, as can be read on Google under the heading, "The Great Australian Super Fraud".
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Amadd
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Re: How to build wealth
Reply #21 - Sep 15th, 2012 at 1:51am
 
Quote:
Yeah i got a bit suss of them when I read all the disclaimers about how if they go broke NAB wont refund your money. Go read the small print. Or dont. I dont care.

SOB


So there SOB. Are you going to show me this fabled disclaimer or not?

I wasted my time and went through it all again only to summise that you are a dim witted moron.

Backed by the NAB (and govt. up to $250k) is what I know to be true.

In future, know what you are talking about and you may just make some sound investments yourself.


You are not SOB, you are SOM.



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« Last Edit: Sep 15th, 2012 at 3:46pm by Amadd »  
 
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Amadd
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Re: How to build wealth
Reply #22 - Sep 15th, 2012 at 2:04am
 
... wrote on Sep 14th, 2012 at 4:11pm:
Mnemonic wrote on Sep 14th, 2012 at 4:09pm:
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids


Isn't that what you did?


Yep. 

wealth accumulation isn't my aim. 


The value some people place upon spurting a little passion from a little head is at times bewildering.

It's hardly rocket science.

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John Smith
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Re: How to build wealth
Reply #23 - Sep 15th, 2012 at 7:41pm
 
... wrote on Sep 12th, 2012 at 11:44am:
How to build wealth

1.  Dont marry or have kids
2.  Don't spend your income on frivolous crap.

The end.


you missed one
3. Work for Gina in an African mine for $2 /day
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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hawil
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Re: How to build wealth
Reply #24 - Sep 29th, 2012 at 6:46pm
 
Amadd wrote on Sep 15th, 2012 at 1:51am:
Quote:
Yeah i got a bit suss of them when I read all the disclaimers about how if they go broke NAB wont refund your money. Go read the small print. Or dont. I dont care.

SOB


So there SOB. Are you going to show me this fabled disclaimer or not?

I wasted my time and went through it all again only to summise that you are a dim witted moron.

Backed by the NAB (and govt. up to $250k) is what I know to be true.

In future, know what you are talking about and you may just make some sound investments yourself.


You are not SOB, you are SOM.




I don't know about this deposits, but it seems to me to be very generous, as you state that it is guaranteed by NAB.
Your attack on SOB is rather rude and not warranted.
Here are some more details on super assets:

The average SMSF has two members with an average balance of $900,000. The average balance of a not for profit fund member was less than $50,000 and clearly incentives needed to remain in place for those at the lower end, said Fiona Reynolds, the Australian Institute of Super Trustees.
And one CEO of an industry fund was recently reported to get paid $500,000 a year, and then stated,that the CEO's of retail funds get double of that, so it is not hard to see, who benefits most from super.
The CEO's of super funds probably run their own SMSF's.
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hawil
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Re: How to build wealth
Reply #25 - Sep 29th, 2012 at 7:29pm
 
John Smith wrote on Sep 10th, 2012 at 9:31pm:
Elayne Taylor wrote on Sep 10th, 2012 at 9:29pm:
I'm not saying there are some huge investments. At least those as SMSF. At least while you work and you take the salary, something to constantly work for you.
And after some time, the money you accumulated money are working for you.


what is SMSF?

Here are excerpts of articles on super.

Summary on articles in the AFR on Superannuation.

4’th.Sept 2012,

All quiet on super front by Richard Dennis:
The second elephant is that the cost os so-called “self-funded” retirement is not only the biggest, but fast-growing area of government outlays.
In fact’ over the next three years the cost of the taxpayers contribution to the retirement incomes of the wealthier half of the polulation will increase from $30 billion to $45 billion per year.

Treasury estimates that 37 per cent of the taxpayers contribution to private superannuation accounts goes to the wealthiest 5 per cent of the population.

8-9’th Sept 2012:
Tax attack is not so super, Cnanticleer., Teasury officials said that the top 5 per cent of income earners receive 37 per cent of all super tax concessions.( verifying the above)

10’th Sept 2012:
Don’t fiddle with super; warns Cooper. Cooper is currently the chairman of retirement incomes at Challenger Financial services.
The head of the federal government’s review has warned Labor against making a cash grab for $1.4 trillion in retirement savings, saying it would undermine confidence in the system.
Cooper was paid $450,000 while on the government’s pay and runs his own Self Managed Super Fund and is currently the chairman of retirement incomes at Challenger Financial Services; what about double-standards.
The average SMSF has two members with an average balance of $900,000. The average balance of a not for profit fund member was less than $50,000 and clearly incentives needed to remain in place for those at the lower end, said Fiona Reynolds, the Australian Institute of Super Trustees.

17’th Sept.2012:

Super salaries: industry fund to reveal execs’ pay:

The $19 billion construction industry fund Cbus will disclose to its members how much it pays senior executives and directors for the first time.
CEO David Atkin $500,000 Executive Trish Donohue  $380,000,  Executive Maria Butera $380,000.
Former Victorian Premier Steve Bracks earns $105,000 as Cbus chairman and another $80,000 as a director of Cbus property.Board members received  a base fee of $17,000 and $2,000 attendance fees.

Not hard to see whose interes the Unions are working for.

17’th Sept.. 2012:

Top public servants in pay bonanza.

Highest Australia post: Salary $1,390,508 total $2,890,177 at the lower end, Australian Crimes Commission; Salary $321,130 total $346,130
The federal government has defended double-digit increases for top bureaucrats even it fights rises for ordinary public servants that would only cover inflation.
The tribunal is seeking to close the executive pay gap between the public and private sector.
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Ex Dame Pansi
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Re: How to build wealth
Reply #26 - Oct 12th, 2012 at 6:38pm
 
I hope not too many people took this author's advice lol!!!! Wasn't longy was it?
......................................................................

Author of Rich Dad, Poor Dad files for bankruptcy

AUTHOR of best-selling financial help book Rich Dad, Poor Dad has just filed for bankruptcy.
Financial guru Robert Kiyosaki filed for corporate bankruptcy after losing a court judgment to The Learning Annex, The New York Post reports.

Mr Kiyosaki's company Rich Global LLC was ordered to pay almost $US24 million to the Learning Annex and its founder and chairman, Bill Zanker.

A US District Judge ordered that Mr Kiyosaki must give Mr Zanker a percentage of the profits he made from speaking appearances which he’d organised through Learning Annex.

Mr Zanker told the The New York Post that he was responsible for making Rich Dad, Poor Dad into the global name it is today.

"I took Kiyosaki's brand and made it bigger. The deal was I would get a percentage and he reneged," Mr Zanker said.

"Oprah believed in him, and Will Smith believed in him, but he didn't keep his promise to us," he said.

Mr Kiyosaki first published “Rich Dad Poor Dad” in 1994, and has since written 11 other books.

Rich Dad, Poor Dad has sold more than 26 million copies and earned Mr Kiyosaki widespread fame.

Mike Sullivan, CEO of Mr Kiyosaki Rich Dad Co., told reporters that Mr Kiyosaki, was still doing well thanks to investments in other companies but that they thought the judgement was unfair.

“I can’t do anything about a $20 million judgment…We got hit for what we think is a completely outlandish figure,” he said.



http://www.news.com.au/business/your-business/author-of-rich-dad-poor-dad-files-...
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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