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I would argue the other way around: The more wealthy you are... - the less competent you need to be. You have more capital to do the work for you. - the less
by yokaze 7y ago
I would argue the other way around: The more wealthy you are...
- the less competent you need to be. You have more capital to do the work for you.
- the less you are affected from random problems, as you can spread your risk.
If you are in the lower echelon, one miss-step or random event outside of your control can bring you in a position where it is much harder to recover from.
(Edited formatting)
- challenger22 7y agoYour claims do not disagree with my claims that you are replying to. It's true that if you are poor, any misstep you make is more likely to make for a truly bad outcome.
- yokaze 7y agoYes, I am not contradicting you. The arguments are in similar vain, just a different emphasis.