My first poll for the NZ public

[Voltaire]

Sounds like that bloke who " made" his money with Merril Lynch by gambling others money and can't even bang a nail in?

[Brian d marge]

Sounds like that bloke who " made" his money with Merril Lynch by gambling others money and can't even bang a nail in?

But he can pull a ponytail

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[Edbear]

Obviously that one man was a shit-load smarter than the millions of poor minnions.

Good on him, Im jealous!

Even a wage worker can amass a fortune by applying a few monetary principles. One noted wealthy person said that if you want to be rich, save 10% of what you earn.

Problem is, most people can't wait for tomorrow to come and spend everything they earn plus a bit.

By thinking and consulting, you can turn a negative situation into a positive one.

[mashman]

Even a wage worker can amass a fortune by applying a few monetary principles. One noted wealthy person said that if you want to be rich, save 10% of what you earn.

Problem is, most people can't wait for tomorrow to come and spend everything they earn plus a bit.

By thinking and consulting, you can turn a negative situation into a positive one.

A comparative fortune?

Or those who do save it have to spend it on a Dr or WOF or Insurance or rent increase or for more expensive food or electricity to keep the house from being damp etc... Spin it how ya like but having no money is fucked up when the choice you're left with is nappies or electricity for cooking. 10% of minimum wage is feck all given the rapid increase in prices. Comfort shopping ain't on the agenda for many of the most you seem to be alluding to.

Very true... so long as you have something to invest.

[Edbear]

A comparative fortune?

Or those who do save it have to spend it on a Dr or WOF or Insurance or rent increase or for more expensive food or electricity to keep the house from being damp etc... Spin it how ya like but having no money is fucked up when the choice you're left with is nappies or electricity for cooking. 10% of minimum wage is feck all given the rapid increase in prices. Comfort shopping ain't on the agenda for many of the most you seem to be alluding to.

Very true... so long as you have something to invest.

That's because the problem is generationarily endemic. Sadly, few parents have, or even can, teach their children while growing up about fiscal responsibility and how to make the right choices. I was one of those children who didn't have the right example to follow nor the right advice and training. So now in my late 50's I have had to basically start over from scratch and try to build assets that will be able to support me and my wife into retirement.

Unfortunately, for many young ones, they tend to ignore sage advice and have also to learn the hard way. By then they are often deeply in debt and missed out on gaining the skills and qualifications they needed, too.

Shame, but our Welfare System should be providing budgeting advice along with offering courses and finding jobs as part of its mandate.

[Brian d marge]

Assuming one can save at a rate greater than the real rate of inflation

And that one has enough to save at the 10 percent of earnings

Since 1971 the old ways were relegated to the back seat

Sorry





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[Edbear]

Assuming one can save at a rate greater than the real rate of inflation

And that one has enough to save at the 10 percent of earnings

Since 1971 the old ways were relegated to the back seat

Sorry





Sent from my SC-01F using Tapatalk

I think that for many it's too late and they are stuck in that trap. The fortunate may get a bailout and the opportunity to advance but there's a reason it's called the poverty trap.

I still believe that if guided from the start as regards education and monetary training one can overcome a disadvantaged beginning, but it has to be from the start of schooling.

[Voltaire]

I remember the school ASB savings account, the Home Loan account. Fat lot of good they ever were.
Getting your wages in cash, and everything being closed from 12 on a Saturday till 8 on Monday.
Then all those crooked companies came along in the 80's that sucked people in to investing on the share market.....
Seems to have been down hill since then.

Some old house up the road that looks to be in need of total renovation just sold for 1.18 million....
Man things are totally going off the rails.

[fridayflash]

school bank account with ASB? bloody free market capitalist! we were 'post office' all the way

[Voltaire]

school bank account with ASB? bloody free market capitalist! we were 'post office' all the way

That was when ASB said things like " you own a bank" ...then it became Australian owned.

I did my apprenticeship with the Post Office, knew where every pub in Auckland was.

[mashman]

That's because the problem is generationarily endemic. Sadly, few parents have, or even can, teach their children while growing up about fiscal responsibility and how to make the right choices. I was one of those children who didn't have the right example to follow nor the right advice and training. So now in my late 50's I have had to basically start over from scratch and try to build assets that will be able to support me and my wife into retirement.

Unfortunately, for many young ones, they tend to ignore sage advice and have also to learn the hard way. By then they are often deeply in debt and missed out on gaining the skills and qualifications they needed, too.

Shame, but our Welfare System should be providing budgeting advice along with offering courses and finding jobs as part of its mandate.

Oh I dunno about kids not learning the value of money from their olds... not saying it doesn't happen, but kids grow up to make up their own minds in regards to what they "want" and what they are prepared to do to get it.

The problem endemic though, but it is engineered to be so. Quite simply put you have finite jobs that pay a finite amount of money. Where I become the CEO of an existing company, the existing CEO becomes unemployed... similarly for doctors, labourers etc... all paid, and as many jobs available, to budget. Unfortunately, as ocean is so happy at crowing, 55% of the population are negative net tax contributors and that in itself screams what the problem is loud and clear, money!

The "problem" really is that simple. There isn't enough money to pay people well enough, and there isn't enough money to ensure REAL full-employment, and not the 80% shite that's accepted as full-employment. Wages/Job value is driven down based on some fucked up notion of value and the outcome is poor paying jobs, welfare, crime, unemployment and all of the useless money related nonsense that goes with it.

So whilst I agree to an extent, we have failed our young by allowing such bullshit to not only exist but to become an excepted norm. Time to change the norm and arse money out of the door as it's nought more than just another social engineering tool. Sad, but absolutely true without a shadow of a doubt. It is "this" way on purpose, it is no accident, else our education institutions would have financial nouse as a core component of the curriculum. It's doesn't for a reason! It's engineered to be so! Kicking the young for a perceived lack of effort/financial acumen is fuckin pathetic, but that's something we adults carry the can for as we allow it... well, those of us who aren't an island.

It'll all change soon enough!

[Voltaire]

It'll all change soon enough!

Current system seems to have survived at least 2 world wars and at least one major depression, whats going to kick off change?

[scumdog]

Unfortunately, as ocean is so happy at crowing, 55% of the population are negative net tax contributors and that in itself screams what the problem is loud and clear, money!

The "problem" really is that simple. There isn't enough money to pay people well enough, and there isn't enough money to ensure REAL full-employment, and not the 80% shite that's accepted as full-employment. Wages/Job value is driven down based on some fucked up notion of value and the outcome is poor paying jobs, welfare, crime, unemployment and all of the useless money related nonsense that goes with it.


It'll all change soon enough!

Wot 'e sez - 'cept maybe the last line, the jury is out with that one.

[mashman]

End of the world is nigh...

Current system seems to have survived at least 2 world wars and at least one major depression, whats going to kick off change?

The thing that has changed... the peeps... and they've already started

Wot 'e sez - 'cept maybe the last line, the jury is out with that one.

Back away from the bong... well it worked for me .

[Brian d marge]

Current system seems to have survived at least 2 world wars and at least one major depression, whats going to kick off change?

Interest rate rises in September ( me thinks )

If amerika raises those rates ...things might get interesting !

Stephen