Scotland Watch

Post by **clv101** » 27 Jan 2015, 19:44

Globally speaking, net worth of £500k gets you in the top 1%. I expect most of us posting on this forum are in the global top 10%.

emordnilap · Post by **emordnilap** » 28 Jan 2015, 11:26

clv101 wrote:I expect most of us posting on this forum are in the global top 10%.

Yup. Not just your own worth but that of the infrastructure you're surrounded with, to which you have relatively cheap access.

vtsnowedin · Post by **vtsnowedin** » 28 Jan 2015, 14:47

How do you figure the net worth of someone that has government payments (earned or not)that are coming in for life? They have examples of people making >4oK / year on the dole. And many a retired government employee has $20K in social security plus his retirement checks and medicare etc. To cover all that with an investment portfolio yielding say 7% would require quite a chunk of cash, most of which doesn't exist anywhere except as an obligation on future tax payers.

emordnilap · Post by **emordnilap** » 28 Jan 2015, 15:01

vtsnowedin wrote:They have examples of people making >4oK / year on the dole.

Yeah, we get that type of myth over here too vt. Tar all the poor with a very selective brush and ignore the stupendous criminal activities of the rich.

biffvernon · Post by **biffvernon** » 28 Jan 2015, 17:07

Getting back to Scotland Watch - they don't like fracking: http://news.scotland.gov.uk/News/Morato ... -1555.aspx

Tarrel · Post by **Tarrel** » 28 Jan 2015, 17:23

INEOS won't be happy!

vtsnowedin · Post by **vtsnowedin** » 28 Jan 2015, 17:37

emordnilap wrote:
vtsnowedin wrote:They have examples of people making >4oK / year on the dole.
Yeah, we get that type of myth over here too vt. Tar all the poor with a very selective brush and ignore the stupendous criminal activities of the rich.

Ah get off your high horse. I said examples not "all the poor" and in several states in the USA those examples do exist, all open and above board.
That wasn't the question. The question is how do you value a steady stream of income against the traditional assets that are usually totaled up when computing net worth. It makes no difference if the income is derived from a guaranteed retirement plan that the employee paid into for thirty years ,or social security checks they have qualified for and paid taxes into, or a straight welfare check or subsidized housing allowance. A check is a check Or at least a direct deposit, and spends as well as a dividend check from a stock portfolio.

Tarrel · Post by **Tarrel** » 28 Jan 2015, 17:40

You can pass on accumulated capital to your successors, whether it is made up of hard assets or paper ones. You can't do that with a state pension payment. That's one big difference.

ETA: Although, of course, if some of the monthly income is surplus to your needs, you can convert it into assets.

vtsnowedin · Post by **vtsnowedin** » 28 Jan 2015, 18:01

Tarrel wrote:You can pass on accumulated capital to your successors, whether it is made up of hard assets or paper ones. You can't do that with a state pension payment. That's one big difference.

ETA: Although, of course, if some of the monthly income is surplus to your needs, you can convert it into assets.

Point taken.

biffvernon · Post by **biffvernon** » 28 Jan 2015, 20:31

Tarrel wrote:INEOS won't be happy!

Ah but.... what if INEOS actually never intended to exploit the shale gas (what with knowing it would never make a profit) and can now say, "Well if you won't let us frack we can't run the refinery/chemical works profitably so we'll close it and it's all your fault, nah, nah n nah!"
Which is what they wanted to do all along.