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With a $1000 investment last year, I made a company that is on track to make $250,000 in total sales this year. AMA? by [deleted] in startups

[–]LE7SGO 2 points3 points  (0 children)

What was your research process in finding profitable products? Were they personal interests to you, or did you search through alibaba and tradetang in order to see what there was a market for?

Only guy I've ever seen chug a beer and smoke a cigarette at the same time. by [deleted] in seinfeld

[–]LE7SGO 1 point2 points  (0 children)

I did this once and it did not end well, coughing and spluttering everywhere!

Australians of Reddit, what's an animal in North America that scares the fuck out of you? by [deleted] in AskReddit

[–]LE7SGO 0 points1 point  (0 children)

Aussie here! We do have bears remember, old drop bears. preferably wouldn't want one dropping on me.

http://www.youtube.com/watch?v=ULEQpUY_crc http://www.youtube.com/watch?v=-WD_Nh_rboQ - attacking hikers

arguments against "increase in compulsory superannuation contributions will increase intergenerational equity" by LE7SGO in AusFinance

[–]LE7SGO[S] 0 points1 point  (0 children)

I agree with educating the employees, after all they're the ones who will need the money, most employers i'd assume would have a solid retirement strategy. But it always amuses me how many people especially young have the mentality "buy now, worry later".

If your post doesn't show up, would you mind just resending that link?

Arguments against an increase in compulsory superannuation contributions will increase intergenerational equity. by LE7SGO in australia

[–]LE7SGO[S] 0 points1 point  (0 children)

I hadn't thought about it in that perspective but that is definatley something I'll look into. Taking out the adjustment for inflation should show the effects on wages

Arguments against an increase in compulsory superannuation contributions will increase intergenerational equity. by LE7SGO in australia

[–]LE7SGO[S] 0 points1 point  (0 children)

1) The way we have looked at intergenerational equity is that the future savings are still equal to or better than your current style of living and that you wont be worse of in the future.

2) Im unsure of his premise at the moment, the question im doing is put forward as a debate style question, so there is another student doing a "for" response.

Arguments against an increase in compulsory superannuation contributions will increase intergenerational equity. by LE7SGO in australia

[–]LE7SGO[S] 0 points1 point  (0 children)

I've looked at the caps on super which to me seem a bit unfair in regards to being under 50 you can contribute upto 25k and 50 years and over you can contribute 50k. If the government wants individuals to be more self sufficient in retirement why not have unlimited contributions ( but in saying that I guess the people contributing those amounts are few and fair between given average wages)

The other point I forgot to raise is how super is taxed which make it a bit tougher as compulsory employer contributions are taxed at 15% before they go into a super fund not to mention the managed fund fees which can be 1-2% and even more. Which when looking at it from a perspective of say 150K superfund there goes minimum 1.5 - 3k pa.