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No - value is related to cashflow and income producing assets with capital gain potential, not depreciating assets. Mercedes will be nice to have after achieving retirement/financial independence gaols and there is still excess cash. When customers quibble about price, I love to point out my...

If one believes that one can outperform the fund manager, then you set up a SMSF. Then the fund manager loses some value.

That's why people have SMSF.

A fund manager who loses money regularly is not going to continue to have high remuneration and hence loses value.

One of the disclaimers to my argument is that the remuneration generating activity needs to be legal as laws are also societal constructs defining what is valuable and acceptable to that particular society.

I disagree. The successful hedge fund manager generates wealth for many people, companies and ultimately is rewarded for such. In doing so, he is involved in providing livelihoods for many families, industries and beyond. He contributes to economies and commercial enterprise. Whereas, an...

Very correct. Furthermore, in both countries, the governments are changing the rules and shifting the goalposts AFTER its citizens have made a decision with their savings based on current rules.

I agree. A lot of blood sweat and tears is required to earn more than 300k a year. Much more pain and suffering than someone who is an employee earning 80k p.a. Why do they attack the real workers of this country?

The government should be helping us not hurting us. Whilst my super will never generate 100k per year income, I sympathise with those whose super will. They have busted their gut and shed blood, sweat and tears to achieve this outcome and yet have to be penalised to subsidise people who have...

Exactly, so it all depends on how you define millionaires. For me, millionaires, means at least 2mil unencumbered investible assets such as cash, super, shares, property beyond PPOR house, car and chattels. If you defined millionaires by total worth of PPOR, cars and chattels - there would...

The top 20% of income earners already pay about 80% of the tax but the lowest 20% of income earners enjoy 80% of the benefits of the welfare state. Why should high income earners be constantly pumped for more tax to fund government welfare? What next? - Cyprus style tax on any bank accounts...

Depends on how you define millionaires.

That is why it is best to keep 2M outside super and the minimum in super. Why leave your investment at the mercy of different successive governments? http://www.smh.com.au/money/super-and-funds/wealthy-take-a-hit-rest-of-us-unscathed-20130405-2hb4v.html I am surprised that this article...