Economic equality will never be possible because...

[Rorschach]

If you are smart, work hard, save your money and invest wisely you should be able to retire at 50. SN raised a good point. Many people seem to simply spend whatever they earn. They make themselves slaves to their job, and when they lose it, they are screwed. It's the same story, whether they earn a little or a lot.

That's bullshit too.
Lets say you are single living in Sydney even with a good job you'd be lucky to be able to get into the housing market.
If you are smart you don't have to work hard? What do you consider working hard? What do you consider smart?
You are both clueless about what can happen to people in life.
You are both clueless about what most people live on and let me tell you it isn't the average wage.
Most people don't have money they can spare to invest.
There's more than a little luck involved in being well off financially in life.
Not that that should be the be all and end all of it either.

[freediver]

If you are smart you don't have to work hard?

[Super Nova]

That's bullshit you know.
Some people just have bad luck and circumstances that make life very difficult.
EG... You might be brilliant at your job and get laid off after say 30+ years of loyalty and exemplary performance where you worked. Your industry may be outsourcing everything or move to some low cost country o/s which limits or negates opportunities where you live. You may be over 50, extremely capable of many roles... yet find it extremely difficult to get any work especially full time work due to the casualisation of your country's workforce and ageism in the recruitment and HR sectors. You may have health issues that limit your capacity to do... say manual labour or are exacerbated by the financial difficulties of long term unemployment where you cannot afford supplements or medication which were keeping conditions under control.
None of that has anything to do with laziness or stupidity.

All of the above shows you are not too smart or smart enough to secure their future. Your examples are one of a wage slave, as I am.

The smart do not rely on just being a wage slave.

Example: A smart wage slave:
1. Saves and invests
2. Over time, say by 50, has investments that are income earning so they become less reliant on the wage.
3. They have savings.
4. They anticipate that the world will change and do not assume a job for life.

You cannot help bad luck but you can mitigate the risks. Most do not. that makes then stupid.

[Rorschach]

You're an idiot if you think that being "smart" secures your financial future.
You're stupid if you think all life is about is money, and that's a measure of one's intelligence.

As for you SN... I hope some bad luck comes your way and teaches you and people who think like you some of life's unexpected lessons. then you may not look down upon others who are less fortunate as being unintelligent or lazy.

[Super Nova]

You're an idiot if you think that being "smart" secures your financial future.
You're stupid if you think all life is about is money, and that's a measure of one's intelligence.

As for you SN... I hope some bad luck comes your way and teaches you and people who think like you some of life's unexpected lessons. then you may not look down upon others who are less fortunate as being unintelligent or lazy.

I don't look down on others.

I have had my share of bad luck.

I am reflecting on how I wasted monies earned in my younger years and compare myself to those that have more but have earned less. Those that have were smarter than me. Today I seek to save more and invest more to secure my financial future.

Today, financial insecurity is one of the biggest stresses we have particularly as we get older. Life is not just about money but I can tell you not having a major fear of financial insecurity is one of life's blessings and does improve your quality of life. Being rich does not make you happy. I am referring to have just enough so you don't have to worry. Smart people work their lifes to have this position.

I wish you all the success and luck in life. My opinions are hard learned.

[AiA in Atlanta]

The weak need to be protected. With that out of the way, wealth comes to those who take risks and not everyone is cut out for that.

[Rorschach]

Sometimes wealth comes through luck, or privilege or inheritance...
For most people it takes generations to climb above the financial mediocrity.
You don't have to waste money or be lazy or stupid to find yourself in a bad place financially... It only takes 1 piece of bad luck; a divorce, bad health, an unforseen financial disaster, etc, etc, etc and you are back at square one. Or worse.
IMO a working couple have much better prospects than a single person these days, especially somewhere like Sydney where the costs of living are high.

[Neferti]

Sometimes wealth comes through luck, or privilege or inheritance...
For most people it takes generations to climb above the financial mediocrity.
You don't have to waste money or be lazy or stupid to find yourself in a bad place financially... It only takes 1 piece of bad luck; a divorce, bad health, an unforeseen financial disaster, etc, etc, etc and you are back at square one. Or worse.
IMO a working couple have much better prospects than a single person these days, especially somewhere like Sydney where the costs of living are high.

What is "wealth" to you, Rorschach? Seriously. I am not talking about the millionaires or billionaires here. What do you call "wealth"?

[Super Nova]

Sometimes wealth comes through luck, or privilege or inheritance...

Sometimes it does. I said I excluded those born into money. Luck or chance, plays a big part in all of our lives.

For most people it takes generations to climb above the financial mediocrity.

I think it takes an individual who is acting "smarter" that makes the difference. It is a class or financial leap.

I come from very poor working class bushies and started with nothing and have had to work my arse off. I know, looking back I could have been smarter. I am trying to be that bridge between poor and financially independent for my daughter.

You don't have to waste money or be lazy or stupid to find yourself in a bad place financially... It only takes 1 piece of bad luck; a divorce, bad health, an unforseen financial disaster, etc, etc, etc and you are back at square one. Or worse.

That is true. Now statistically that is a small %. let's exclude bad luck like bad health ...etc.

An unforeseen financial disaster I class as not be prepared or taking risks without realising the consequences if it goes wrong. - not smart.
Bad Health - well that means you are relying on your wage to make good. Smart people have assets that earn them income. - No smart
Divorce - so you lose half.... if you are smart you can build again. You haven't lost everything.

IMO a working couple have much better prospects than a single person these days, especially somewhere like Sydney where the costs of living are high.

I agree. My wife doesn't work now and that is a big hit. However we try to put her time into something that helps us become more financially free.

We are a bit old but it is time to work smarter.

[Super Nova]

Sometimes wealth comes through luck, or privilege or inheritance...
For most people it takes generations to climb above the financial mediocrity.
You don't have to waste money or be lazy or stupid to find yourself in a bad place financially... It only takes 1 piece of bad luck; a divorce, bad health, an unforeseen financial disaster, etc, etc, etc and you are back at square one. Or worse.
IMO a working couple have much better prospects than a single person these days, especially somewhere like Sydney where the costs of living are high.

What is "wealth" to you, Rorschach? Seriously. I am not talking about the millionaires or billionaires here. What do you call "wealth"?

My definition is to be free of financial insecurity.