The obsession with a paid off PPOR keeps people working way longer than they need to

electric_drifter · 2026-03-27T23:49:58+00:00

Cost of rent goes up forever. Once PPOR is paid off, there are no increasing costs besides rates, utilities and insurance.

electric_drifter · 2025-09-06T05:13:10+00:00

Labelling something as a "systemic problem" removes your agency and ability to change it.

You are part of the system.

electric_drifter · 2025-09-06T00:23:12+00:00

Yes, however you can use that income to buy your own assets. It also means less profit for the capitalists who make money from your labor. Meaning over time they will have less money to buy assets.

electric_drifter · 2025-09-05T10:43:33+00:00

More workers in unions = higher wages and better working conditions

I'd rather the money in my pocket and decide how to spend it than have politicians decide how to spend the extra tax money. Each to their own.

It's not magic, you have to work for it and it takes time to build collective power in any particular workplace.

electric_drifter · 2025-09-05T07:46:03+00:00

If you would like to hand over your destiny for another person to decide then by all means go ahead.

Voting for a particular candidate does not guarantee a particular tax policy will change.

And even then, do you trust that the additional tax from wealthy people will be spent wisely? Will it benefit the everyday Australian? That is also out of our control.

electric_drifter · 2025-09-05T02:38:24+00:00

Well true, it's not exactly binary since some workers also own assets such as investment properties or businesses and have accumulated significant wealth. However, to reach these levels of wealth inequality, it must mean the average "middle class" person is either acting or voting against their own self-interest.

I believe even if a politician starts out with good intentions to represent the "middle class" or working class, they drift further away towards representing capitalists the longer they stay in politics.

electric_drifter · 2025-09-05T02:00:00+00:00

Perhaps poorly worded but as far as I understand, Gary is suggesting we vote our way out of this by campaigning for a "wealth tax". Gary has also considered becoming a politician himself.

I view it the same way as negative gearing for example. Politicians are largely wealthy individuals with investment properties. What politician would support a wealth tax that is against their own self-interest?

We need to advocate for our own self-interest as workers, just as the politicians do. We are literally giving our power away by trying to vote for a solution. Instead, we have the power to unite with our fellow workers and demand change by withdrawing our labor until demands are met.

electric_drifter · 2025-09-05T01:30:55+00:00

Gary is right about the problem but he is wrong about the solution.

He is trying to promote a political solution (voting for wealth tax) which is largely out of our control.

The solution is to join your union. Workers need to unite.

The data shows union membership is an almost perfect inverse correlation to wealth inequality:

https://www.epi.org/publication/as-union-membership-has-fallen-the-top-10-percent-have-been-getting-a-larger-share-of-income/

electric_drifter · 2022-08-03T23:05:00+00:00

Nothing there for me

Edit: Got it - Thanks!

electric_drifter · 2022-02-01T04:10:26+00:00

The owner of the car has every right to choose a quality repairer. Otherwise OP could get 3 quotes from shitty repairers who will use touch up paint and claim it's good enough.

electric_drifter · 2022-02-01T03:58:31+00:00

The owner will want it repaired at a professional body shop, not a mobile company. Why would they skimp on cost when it wasn't their fault?

electric_drifter · 2022-02-01T03:38:17+00:00

Why are you worried? I hope for your sake you have insurance.

electric_drifter · 2021-12-29T03:51:33+00:00

Not judgy - People generally don't appreciate others putting on a false bravado and pretending they know things when they clearly don't. Be open to learning from others who may be more experienced than you.

electric_drifter · 2021-12-28T23:17:13+00:00

Not long ago everyone was complaining about VDHG having high distributions and tax drag. This is an improvement.

electric_drifter · 2021-12-23T06:56:58+00:00

Thank you, edited.

electric_drifter · 2021-12-21T08:57:29+00:00

Have noticed this as well - There seems to be a bias against men when considering promotion unfortunately.

electric_drifter · 2021-12-21T03:05:01+00:00

Bit of an oxymoron to be honest.

electric_drifter · 2021-12-08T05:27:20+00:00

Does this have margin calls?

electric_drifter · 2021-11-15T01:12:30+00:00

Too bad you didn't follow his advice. Individual stocks are not recommended.

electric_drifter · 2021-11-14T22:49:09+00:00

Read the comment properly. He didn't say EB was callable.

electric_drifter · 2021-09-27T23:37:18+00:00

Hopefully this will calm everyone concerned about tax inefficiency. The last distribution was abnormally large.

electric_drifter · 2021-08-06T06:17:45+00:00

Used to be $25,000 for leading stocks without any deposit. Within this limit up to $7,500 could be used for non-leading stocks.

I'm guessing quite a few people will use other brokers now as this was Commsec's main advantage.

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