ABC Story on Negative Gearing

I feel IQ is the least important, unless you happen to be in a very technical sort of role. Like specific area of IT and say medicine.

Once you are in, it’s all about connection, emotional intelligence ect

And life does tend to balance out. People with low IQ generally tend to be a lot better socially and suit a lot of other jobs with high pay.

It’s not all down to the birth lottery and it’s not all down to hard work.

 

I think I should stress that my ex IT friend is retired, owns a string of houses averaging $1m and above each (ie about $800 per wk rent). His $100,000 per year is net disposable income, ie spending money about $2000 per week making it possible to travel by first class flight. Clearly, this is not the lifestyle of the average $150k plus wage earner. He also has a war chest in reserve of $2m to pounce in the down leg of the property market.

 

Take an IQ test. See what score you get. From that you will be able to tell how intelligent you are and where that places you in the bell curve.

 

Why? I would probably fail it .

Besides I am too busy working .

 

Looks like BS is getting a step closer to becoming PM and removing NG after labor's big win..

 

ya but people also achieved that without hard work, so there is 2 side to the same success story too

 

The example I gave was to emphasise that diligence or hard work is a significant factor of success in most situations. It is never the case that one factor explains all but no hard work in most situations and an adverse side effect is likely that one's 'cake' will be eaten by others in due time!

 

There is definitely luck involved. Would you have what you have now if you are say struck by long term illness?

Luck also means the absence of bad luck

 

You are right. Luck has a lot to do with it.

Over the last 40+ years since I started my wealth creation journey, I have found that:

The harder I worked, the luckier I became.​

 

A lot of really, really hard working jews were marched into gas chambers in 1942.

But I don't think you will be swayed from your position.

 

I know that. I have never denied that. I don’t understand why you included it in this thread.

I have been through a lot of trauma myself, especially over the last 50+ years (but nothing as traumatic as dying).

I am not going to detail it all on PC but I do believe my trauma has helped form me into the strong person I am today.

I didn’t realise you were attempting to sway me.

In fact, I didn’t realise I needed swaying.

 

Hands down the dumbest/most irrelevant post I've ever seen on PC

 

hey.. who wants to know about failures.. success only. . winners write history

 

So you support lowering (or flat, or something?) income taxes, but income that is not of your labour (eg investment income) should be taxed up the wazoo?

Actually sounds pretty reasonable.

cheers,
Inertia.

 

I like a reduction in all taxes. Capital gains taxes are pretty pernicious in my opinion because (a) it is capital that makes society wealthy, so should be encouraged; and (b) most of what we think are appreciating capital values are really just inflation (ie currency debasement). It is just governments taxing the inflation they create, which I'm not a fan of.

 

agreed.. lower tax pls..

 

I thought that but my intelligence and luck stopped me doing it .

 

Only because you don’t understand it.


The role of luck in a person’s life outcomes is something that has been debated for centuries by philosophers.


If gets completely lost in many right wing ideologies, particularly at the extremes, Libertarianism etc.


They talk about hard work, perseverance and individual freedoms. All very important but far from the whole story.


The holocaust is worth thinking about because it’s a great example of how luck influenced outcomes.


6 million Jews were unlucky enough to be alive at a time when one of the most evil regimes in history was hell bent on their destruction.

 

1. A high IQ is to the workforce like being tall is to the nba. Sure you can do it if you are 5’3. But there is a reason the majority of people are over 6’4.

2. Like with NBA, just because you are taller does not mean you will be better. 8 foot players are not better than Jordan or labron or curry.

So basically, you just need to be smart enough. Top 25% of people would do it. After that it kinda becomes extra brains you might not need. Sometimes people are too smart for their own good. Like being so tall you can’t move quickly.

If you are smart enough to be in the top 25%. Then it comes down to hard work and application. Internal drive and resilience.

Also smart isn’t just good at math. Decision making, problem solving. EQ also matter.

 

I think you will find that in order to diagnose someone with an intellectual disability an adaptive behaviour assessment is also required. This measures a person's capabilities and behaviour in the social, practical and conceptual domains and the scores should be comparable to the IQ scaled score. Sometimes one (or more) domain can be significantly higher than the others (for example a person may score within the average range for the "practical" domain).

A low IQ therefore does not mean that a person is lacking skills that would be valued in the workforce or automatically precludes them from any chance of employment success.