Retirement, any takers?

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#38
(22-07-2013, 10:34 PM)greypiggi Wrote:
(22-07-2013, 10:17 PM)yeokiwi Wrote: Pardon me.. I have a hard time empathizing a couple that earned more than half a million annually and paying a high tax.

Oh, I don't mean they need any help or that we should pity them. All I was doing is stating a matter of fact on what is happening in sg. In fact, when I meet such corporate types I wonder why they do not do the math and internal examination and just realize they should not keep aiming higher beyond what they can really afford. I mean a family who earns 800k has no business driving cars worth anything above 300k, watches/bags/jewellery above 10k, and living in housing worth more than 5m and flying business class, staying in $1k hotels etc. that is a lifestyle of someone with a networth of about 10m usd and up and who still earns some salary. If net worth alone need to be about 15m usd min.

And if they really want to play that all consuming game, either aim to go beyond 1.5m in earnings or start own business. Contentment and some plain math is the key.

Keeping up with the Joneses and hedonic adaptation is the biggest killer for these people. The best case studies are the NBA and NFL stars in the US.

Nonetheless tax policy making cannot and should not cater to them. As Buffett remarked, the society has blessed them greatly, they have their duty to pay it forward back to the society. As Buffett aptly described this ideology: let's discuss taxes on the shores of Normandy. Each class in the society does its part... IMHO I don't think the old lady cleaning the toilet contribute less than the guy paying $1m in taxes.

The rich stands on the shoulders of the poor and need the poor to provide the food, goods and services as much as the other way round. This self-enlightenment is usually obvious on the first generation wealth creators, but in my experience their children and 3rd or subsequent generations do not understand that at all, and that poses a problem with the fabric of the society as a whole
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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Messages In This Thread
Retirement, any takers? - by Temperament - 21-07-2013, 07:47 AM
RE: Retirement, any takers? - by brattzz - 21-07-2013, 10:42 AM
RE: Retirement, any takers? - by paullow - 21-07-2013, 10:51 AM
RE: Retirement, any takers? - by greypiggi - 21-07-2013, 11:24 AM
RE: Retirement, any takers? - by NTL - 21-07-2013, 02:27 PM
RE: Retirement, any takers? - by smallcaps - 21-07-2013, 02:56 PM
RE: Retirement, any takers? - by Dividend Warrior - 21-07-2013, 03:18 PM
RE: Retirement, any takers? - by paullow - 21-07-2013, 03:35 PM
RE: Retirement, any takers? - by kazukirai - 21-07-2013, 08:03 PM
RE: Retirement, any takers? - by Dividend Warrior - 21-07-2013, 09:49 PM
RE: Retirement, any takers? - by NTL - 22-07-2013, 03:01 PM
RE: Retirement, any takers? - by Temperament - 22-07-2013, 07:03 PM
RE: Retirement, any takers? - by brattzz - 21-07-2013, 04:23 PM
RE: Retirement, any takers? - by greengiraffe - 21-07-2013, 07:31 PM
RE: Retirement, any takers? - by d.o.g. - 22-07-2013, 02:12 AM
RE: Retirement, any takers? - by paullow - 22-07-2013, 07:44 AM
RE: Retirement, any takers? - by smallcaps - 22-07-2013, 01:56 PM
RE: Retirement, any takers? - by corydorus - 23-07-2013, 01:09 PM
RE: Retirement, any takers? - by Stockerman - 21-07-2013, 04:28 PM
RE: Retirement, any takers? - by Temperament - 21-07-2013, 04:39 PM
RE: Retirement, any takers? - by CityFarmer - 21-07-2013, 06:24 PM
RE: Retirement, any takers? - by sgd - 21-07-2013, 11:18 PM
RE: Retirement, any takers? - by Gaudente - 23-07-2013, 02:48 PM
RE: Retirement, any takers? - by sgd - 23-07-2013, 10:00 PM
RE: Retirement, any takers? - by Contrarian - 22-07-2013, 12:21 AM
RE: Retirement, any takers? - by Temperament - 22-07-2013, 07:25 AM
RE: Retirement, any takers? - by greypiggi - 22-07-2013, 09:36 PM
RE: Retirement, any takers? - by d.o.g. - 22-07-2013, 10:38 PM
RE: Retirement, any takers? - by greypiggi - 22-07-2013, 10:58 PM
RE: Retirement, any takers? - by yeokiwi - 22-07-2013, 10:17 PM
RE: Retirement, any takers? - by cif5000 - 22-07-2013, 10:32 PM
RE: Retirement, any takers? - by KopiKat - 22-07-2013, 11:57 PM
RE: Retirement, any takers? - by greypiggi - 22-07-2013, 10:34 PM
RE: Retirement, any takers? - by specuvestor - 23-07-2013, 10:37 AM
RE: Retirement, any takers? - by paullow - 22-07-2013, 10:31 PM
RE: Retirement, any takers? - by Temperament - 22-07-2013, 10:41 PM
RE: Retirement, any takers? - by NTL - 22-07-2013, 11:47 PM
RE: Retirement, any takers? - by paullow - 23-07-2013, 07:46 AM
RE: Retirement, any takers? - by greypiggi - 23-07-2013, 08:59 AM
Retirement, any takers? - by godjira1 - 23-07-2013, 08:37 AM
RE: Retirement, any takers? - by Temperament - 23-07-2013, 09:11 AM
RE: Retirement, any takers? - by Temperament - 23-07-2013, 10:27 PM
RE: Retirement, any takers? - by pianist - 24-07-2013, 09:34 AM
RE: Retirement, any takers? - by Temperament - 24-07-2013, 01:15 PM
RE: Retirement, any takers? - by pianist - 24-07-2013, 02:14 PM
RE: Retirement, any takers? - by NTL - 24-07-2013, 02:11 PM
RE: Retirement, any takers? - by chialc - 24-07-2013, 09:04 AM
RE: Retirement, any takers? - by raiden - 04-08-2013, 03:54 AM
RE: Retirement, any takers? - by edragon - 04-08-2013, 12:39 PM
RE: Retirement, any takers? - by raiden - 04-08-2013, 08:31 PM
RE: Retirement, any takers? - by funman168 - 04-08-2013, 06:41 AM
RE: Retirement, any takers? - by NTL - 04-08-2013, 08:07 AM
RE: Retirement, any takers? - by corydorus - 04-08-2013, 09:46 AM
RE: Retirement, any takers? - by NTL - 04-08-2013, 12:16 PM
RE: Retirement, any takers? - by corydorus - 04-08-2013, 12:45 PM
RE: Retirement, any takers? - by CityFarmer - 05-08-2013, 11:35 AM
RE: Retirement, any takers? - by sgd - 05-08-2013, 12:39 PM
RE: Retirement, any takers? - by Caelitus - 05-08-2013, 11:35 PM
RE: Retirement, any takers? - by Bibi - 06-08-2013, 12:22 AM
RE: Retirement, any takers? - by sgd - 06-08-2013, 11:14 AM
RE: Retirement, any takers? - by Caelitus - 07-08-2013, 12:39 AM
RE: Retirement, any takers? - by KopiKat - 05-08-2013, 03:07 PM
RE: Retirement, any takers? - by NTL - 05-08-2013, 03:42 PM
RE: Retirement, any takers? - by sgd - 05-08-2013, 05:32 PM
RE: Retirement, any takers? - by KopiKat - 06-08-2013, 12:36 AM
RE: Retirement, any takers? - by edragon - 05-08-2013, 05:17 PM
RE: Retirement, any takers? - by WolfT - 05-08-2013, 11:55 PM
RE: Retirement, any takers? - by raiden - 06-08-2013, 01:24 PM
RE: Retirement, any takers? - by sgd - 06-08-2013, 02:16 PM
RE: Retirement, any takers? - by WolfT - 06-08-2013, 02:52 PM
RE: Retirement, any takers? - by KopiKat - 06-08-2013, 04:37 PM
RE: Retirement, any takers? - by edragon - 06-08-2013, 03:40 PM
RE: Retirement, any takers? - by edragon - 07-08-2013, 08:43 AM

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