PM Chloe Swarbrick

[R650R]

Everyone hates billionaires except their favourite ones like George Soros, Bill Gates, Taylor Swift or Oprah Winfrey. Funny that I think the big word for it is hypocrisy.

The truth is anyone in our society can now become wealthy, never has their been a time when education has been so accessible and in some cases completely free. And with app based platforms like sharsies you can invest to claim your slice of the pie.
We are taught the basic maths of becoming successful perhaps even before high school age.
The only barriers are our own work ethics, discipline and drive to achieve.

I include myself as an underachiever purely through the distractions of alcohol, women and fast bikes and IÂ’ll do that tommorow laziness at times.
ThereÂ’s nothing from stopping in todayÂ’s world and 18 y/o thatÂ’s flipping burgers to invest through disciplined savings a small amount at start to become multi millionaire by retirement or even retire early through compounded annual gains with the luxury of time.

$1000 today topped up at a mere 100 a month at and 10% return for next 40 years is $576,000.00

And thatÂ’s without further career advancement or ability to increase saving amounts as wages rise over time

ItÂ’s no secret what the great investors like Buffett buy so st even a basic level you can just copy what they do if you have luxury of time that our youth do.

[pete376403]

Everyone hates billionaires except their favourite ones like George Soros, Bill Gates, Taylor Swift or Oprah Winfrey. Funny that I think the big word for it is hypocrisy.

The truth is anyone in our society can now become wealthy, never has their been a time when education has been so accessible and in some cases completely free. And with app based platforms like sharsies you can invest to claim your slice of the pie.
We are taught the basic maths of becoming successful perhaps even before high school age.
The only barriers are our own work ethics, discipline and drive to achieve.

I include myself as an underachiever purely through the distractions of alcohol, women and fast bikes and IÂ’ll do that tommorow laziness at times.
ThereÂ’s nothing from stopping in todayÂ’s world and 18 y/o thatÂ’s flipping burgers to invest through disciplined savings a small amount at start to become multi millionaire by retirement or even retire early through compounded annual gains with the luxury of time.

$1000 today topped up at a mere 100 a month at and 10% return for next 40 years is $576,000.00

And thatÂ’s without further career advancement or ability to increase saving amounts as wages rise over time

ItÂ’s no secret what the great investors like Buffett buy so st even a basic level you can just copy what they do if you have luxury of time that our youth do.

Where do you get 10% return and what about income tax on the interest?

[JimO]

Everyone hates billionaires except their favourite ones like George Soros, Bill Gates, Taylor Swift or Oprah Winfrey. Funny that I think the big word for it is hypocrisy.

The truth is anyone in our society can now become wealthy, never has their been a time when education has been so accessible and in some cases completely free. And with app based platforms like sharsies you can invest to claim your slice of the pie.
We are taught the basic maths of becoming successful perhaps even before high school age.
The only barriers are our own work ethics, discipline and drive to achieve.

I include myself as an underachiever purely through the distractions of alcohol, women and fast bikes and IÂ’ll do that tommorow laziness at times.
ThereÂ’s nothing from stopping in todayÂ’s world and 18 y/o thatÂ’s flipping burgers to invest through disciplined savings a small amount at start to become multi millionaire by retirement or even retire early through compounded annual gains with the luxury of time.

$1000 today topped up at a mere 100 a month at and 10% return for next 40 years is $576,000.00

And thatÂ’s without further career advancement or ability to increase saving amounts as wages rise over time

ItÂ’s no secret what the great investors like Buffett buy so st even a basic level you can just copy what they do if you have luxury of time that our youth do.

i hate soros, gates swift and winfrey as well

[TheDemonLord]

And in bigger towns too, in the form of parks and reserves - can you see any modern day developer setting aside large areas of green space for the public good, rather than cramming in hundreds of houses cheek by jowl

Well... It's that last part that I have been thinking about a bit.

I have a sneaking suspicion that a big part is Effort to Reward ratio.

If we go back say 100 years. Wealthy Person decides to do something 'nice' for community - say build a library. They pay the funds for the Library, it is built, community is happy and the Wealthy person gets to enjoy both the Library, the gratitude of the people who use it and getting their name plastered on something that will live on after they pass.

Now today - Imagine I had several million to build a Library. Could I just pick a spot, build it and then be done with it?

I'd have to go through planning permissions, public consultations, have to listen to a bunch of people having a whinge about anything and everything under the Sun, pay a lot of money for everyone who has their snouts in the trough rather than the money going towards the community

I think there is also something psychological here around value - If I spend $100,000 on a building, every day I walk or drive past, I can see that building and it brings a smile to my face that it is there and doing building things.

Whereas if I spend $100,000 on consultants fees (and let us presume for the sake of this argument that the fees were necessary, reasonable and good value for money) - I cannot see what I have spent my money on.

And let's now expand it out to us regular folks - You pay your taxes, yet the hospitals are always falling apart/being renovated, the roads are full of potholes, the schools are constantly running fundraisers to pay for things - how do you feel about paying your taxes?

Now let's run it again - and for the sake of argument, let's say you pay 5% more taxes, but the Hospitals are fixed and the wait times are quick, the roads are smooth, the Schools are focused on education and not revenue gathering - how do you feel about paying your taxes now?

The question I am pondering (and running out of hot water whilst doing so) - is how one could design a system that positively rewards the desired behavior.

[R650R]

Where do you get 10% return and what about income tax on the interest?

I’m not a financial advisor so I can’t direct you where to see that but we live in a world now where it’s easy to access that information for your self.
Income tax is a good problem to have, it means you’re being successful. At PIE rate of 28% you still have over $400,000 gained purely through education and discipline.

[pete376403]

I’m not a financial advisor so I can’t direct you where to see that but we live in a world now where it’s easy to access that information for your self.
Income tax is a good problem to have, it means you’re being successful. At PIE rate of 28% you still have over $400,000 gained purely through education and discipline.

ok like this f'rinstance, but it does require a minimum investment of $1,000,000, which could be a long way from your initial $1000 + $100/month https://www.finbase.nz/?gad_source=1...MaAqM2EALw_wcB

[R650R]

ok like this f'rinstance, but it does require a minimum investment of $1,000,000, which could be a long way from your initial $1000 + $100/month https://www.finbase.nz/?gad_source=1...MaAqM2EALw_wcB

Those do like quite attractive at first but the risk is high. Your locked in until the property is secured against is fully repaid. You should never risk more than 1% of your wealth on any individual investment so those are meant for people with large amounts of money et or financial institutions.
I’d prefer an individual stock where I can exit quickly at a small loss to protest my remaining capital.

These guys do some great vids on nz investing

[jellywrestler]

i hate soros, gates swift and winfrey as well

how do people actually hate people they don't know?

[TheDemonLord]

how do people actually hate people they don't know?

Usually because the people have arbitrarily and negatively impacted their lives. For example - I hate Stalinda.

[jellywrestler]

- I hate Stalinda.

not familiar with that one, are they heavy metal, country, rock or what?

[JimO]

not familiar with that one, are they heavy metal, country, rock or what?

Equestrian dictator

[R650R]

Equestrian dictator

And a publisher of North Korean style political memoirs

[TheDemonLord]

And a publisher of North Korean style political memoirs

A Greater work of fiction has not been written since Fidelity was included in French Marriage vows.

[TheDemonLord]

not familiar with that one, are they heavy metal, country, rock or what?

The Bravest captain of the Good ship New Zealand, who rammed it repeatedly into icebergs and then abandoned ship when it started to sink, in order to collect a lifetimes worth of grifting speaking fees, book deals and just rewards from her Comintern Masters.

[pritch]

Well... It's that last part that I have been thinking about a bit.

I have a sneaking suspicion that a big part is Effort to Reward ratio.

If we go back say 100 years. Wealthy Person decides to do something 'nice' for community - say build a library. They pay the funds for the Library, it is built, community is happy and the Wealthy person gets to enjoy both the Library, the gratitude of the people who use it and getting their name plastered on something that will live on after they pass.

Now today - Imagine I had several million to build a Library. Could I just pick a spot, build it and then be done with it?

I'd have to go through planning permissions, public consultations, have to listen to a bunch of people having a whinge about anything and everything under the Sun, pay a lot of money for everyone who has their snouts in the trough rather than the money going towards the community

Sometimes the generous donor can avoid the grief. An early surveyor here had amassed a large collection of artefacts which he offered to the Council on condition they built a fire resistant building to house them. A building made of other than timber? The Council probably gave themselves considerably less grief than they'd give thee or me.

Similarly there was a modern art collector in Cologne said he would donate his collection to the city - provided the city built a new gallery to house it. Hey presto, a new gallery on the best site in town. That's the one with a verandah that intravenous drug users etc find convenient as overnight shelter. A fire engine arrives at dawn with their wake up call.