Has anyone ever strayed?

[metamorphosis]

Hi All,

It's been a long time since I've been on the forum. I consider myself to be quite a young invester, so after I brought my first IP, with the help of this forum, I felt
1) so unmotivated to learn more after the 1st
2) also that it was just so much hard work to keep thinking/doing about investing.
3) guilty that all I was thinking about was money

Then I went through a stage where I thought is financial freedom really important to me? What is really going to make me happy.....and the transcript on 4Corners: Quote: "those of us, on this endless treadmill seem to be running harder and harder, working longer and longer, setting those goals that...providing for financial security, understanding that we're giving up a lot, often the quality of our relationships but nevertheless believing that our happiness will come at some later state. And we call this the 'deferred happiness syndrome" really got me thinking....

For the more seasoned investor, I wonder do you guys
a) ever have doubts about why you do this?
b) ever strayed from investing and what made you come back?
c) ever think does this really make you happy and how?

 

[metamorphosis]

I think this belongs in the Investor Psychology.

 

[JumJones]

Meta, this has been talked/argued/reflected/prophesised about in its various guises in many a topic.

General synopsis is that there needs to be a delicate balance of
action, education, self belief, commitment, quality of life, sleep at night factor, charity, and many more.

Thats a lot of variables, its a complex jigsaw, and no two families will have exactly the same mix of goals and aspirations. Everyone's thoughts stray at some point, self doubt is important - you must question yourself any now and then to reaffirm you are doing whats important.

And guess what - this site is probably one of the best single resources you could possibly find to help on the journey.

 

[BV]

Hi All,
For the more seasoned investor, I wonder do you guys
a) ever have doubts about why you do this?
b) ever strayed from investing and what made you come back?
c) ever think does this really make you happy and how?

Hi Meta
Doubts in general about property investing?
Not really, but it helps having a long term plan and working towards that.
Financial security for me and my kids and early retirement are the factors
that motivate me.

Happiness doesn't necessarily come with wealth.
We should not forget the other important things in life, such as:
spending time with family, helping others when possible,
having a reasonably good lifestyle etc etc..

cheers

 

[Aceyducey]

You can't buy happiness - but it's more fun to be miserable in style.

Ultimately money is at the root of many family breakdowns. Money issues cause most kinds of stress. Money is the reason so many people work long hours, and money is required to help your kids have opportunities and help your parents in their retirement.

Sure money isn't everything - but it's certainly much more on the mind of people who have little of it & need the things that money can buy (and work long hours to satisfy that need).

You always have to think about the opportunity cost.


I subject my investments to three criteria:

1) They must possess solid fundamentals & hold the prospect of profit
2) They must interest and engage me
3) I must enjoy doing them

If the alternative to working a 9-5 job is investing, you should at least enjoy it!

So if you're finding that property investing isn't your thing, don't give up on INVESTING, go find a type of investment you like better than PROPERTY.

Cheers,

Aceyducey

 

[geoffw]

As with anything, there can be a whole range of emotions.

Just after you've bought something you've been working towards for a while, there can be a down. You've achieved that goal, so ordinary life is back to boring again.

And there are the doubts about having done the right thing, and about that debt.

But it becomes a game after a while, with increasing rewards as the deals can start to get bigger.

I certainly wouldn't give up on any one form of investing- check them all out.


If you have done well, it's a sort of success where the reward is not only being able to see what you've done, but having numbers put on it to confirm that you have done well.

 

[metamorphosis]

Thanks for your comments guys, it's reassuring.

No, it's not about property, because I love everything about property.

True, "Balance" is everything. Easier said than done! As you all would know, once you start it can get very all comsuming! And before you know you're working like a dog to fund the next property and living in fear of economic issues that are out of my control.

Although I have a fairly balanced lifestyle, I feel to be successful with property you have to devote a lot more of your time to it and also live quite miserly in order to achieve that portfolio - I remember The Wife saying that she only allocated herself $50 (?) a week on food and if the food ran out before the end of the week, she would starve until the following week.

In the end, it's easy to feel like I am doing the right thing in this environment. But when the environment you live in consist of "simple" people, ie: they only buy what they need not what they want and they definately do not think they need financial freedom for their happiness- it gets difficult.

 

[Aceyducey]

And before you know you're working like a dog to fund the next property and living in fear of economic issues that are out of my control.

.......

I feel to be successful with property you have to devote a lot more of your time to it and also live quite miserly in order to achieve that portfolio

......

But when the environment you live in consist of "simple" people, ie: they only buy what they need not what they want and they definately do not think they need financial freedom for their happiness- it gets difficult.

metamorphosis,

If you're living in fear I believe you're doing something wrong. You need to learn to get past that - the worst thing that can happen is that you lose everything & have to start again. That's entirely possible in this country...in fact I know several people who have gone through bankrupcy & reemerged the other side wealthier than before - and better able to hold on to their wealth.

As to being miserly - perhaps it's your strategy rather than property investing itself. There may be other strategies which provide you with a balance more to your liking. Remember that at the end of the day you can select your own path...if you're not comfortable on your current path change it!

I suggest you try to get along to an investor meeting in your area. Chatting with like-minded people at different stages along their path can help bolster your confidence & also provide some great information.

Cheers,

Aceyducey

 

[House_Keeper]

Hi All,

It's been a long time since I've been on the forum. I consider myself to be quite a young invester, so after I brought my first IP, with the help of this forum, I felt
1) so unmotivated to learn more after the 1st
2) also that it was just so much hard work to keep thinking/doing about investing.
3) guilty that all I was thinking about was money

Then I went through a stage where I thought is financial freedom really important to me? What is really going to make me happy.....and the transcript on 4Corners: Quote: "those of us, on this endless treadmill seem to be running harder and harder, working longer and longer, setting those goals that...providing for financial security, understanding that we're giving up a lot, often the quality of our relationships but nevertheless believing that our happiness will come at some later state. And we call this the 'deferred happiness syndrome" really got me thinking....

For the more seasoned investor, I wonder do you guys
a) ever have doubts about why you do this?
b) ever strayed from investing and what made you come back?
c) ever think does this really make you happy and how?

What helps me remain motivated about investing is that I find investing interesting. Investing is almost a like a hobby to me, although for some strange reason, I'm a bit embarrassed to admit it.

I don't believe that there is a trade off in terms of happiness. You need to be able to enjoy what you are doing now. You can't live too long hating what you are doing for the sake of 'tomorrow'.

Anybody needs to balance the time with family and friends and the time spent preparing for the future. Find a balance you are comfortable with. There should be enough time available to work on investments.

Hope this helps.

Cheers,

 

[WillG]

Hi,

Having a bad day at work motivates me to keep on investing and also makes work a lot easier knowing I don't need a pay rise or promotion to get ahead.

I know I make all of my real $$'s through investing and just use my day job for cashflow and to support my investing.

 

[Jacque]

Hi All,

It's been a long time since I've been on the forum. I consider myself to be quite a young invester, so after I brought my first IP, with the help of this forum, I felt
1) so unmotivated to learn more after the 1st
2) also that it was just so much hard work to keep thinking/doing about investing.
3) guilty that all I was thinking about was money

Then I went through a stage where I thought is financial freedom really important to me? What is really going to make me happy.....and the transcript on 4Corners: Quote: "those of us, on this endless treadmill seem to be running harder and harder, working longer and longer, setting those goals that...providing for financial security, understanding that we're giving up a lot, often the quality of our relationships but nevertheless believing that our happiness will come at some later state. And we call this the 'deferred happiness syndrome" really got me thinking....

For the more seasoned investor, I wonder do you guys
a) ever have doubts about why you do this?
b) ever strayed from investing and what made you come back?
c) ever think does this really make you happy and how?

Interesting post.
In the end, however, it comes down to balance (what others have already said) and making sure that investing forms but one part of your life. It shouldn't become all encompassing that it's all you ever think about or talk about. How boring would that be? Then again, there are those on this forum who advise for a living, so I guess for them it's a different story.....

Knowing that I'm investing my money wisely (in my opinion anyway!) does make me feel that little bit more secure. I also feel comfortable knowing that, if I died tomorrow, I have enough in assets, and that my children would be properly materially looked after.

There are far more important things in my life that make me truly happy. My family, my friends, my health, the excited anticipation of an upcoming event or celebration. Good food, great company, and the corny stuff like a wonderful sunset or the smile on my child's face when they come first in a race etc.

Do not let investing override your life. It's not hard. You simply treat it as one part of the bigger picture. There's more to life than making money. But, geez, it's a good feeling when you do well and you can enjoy the benefits it brings.....
That sunset will always look better in Fiji with a pina colada in hand and two weeks to enjoy the beach.....

 

[stickysandwich]

Metamorphasis

I am exactly the same. But after a while my thoughts turn to something different. It's like when you get a new job, it seems so complicated and life consuming, but after a few months it gets easier. Seems to be the same with investing. I get really, really excited and consumed and don't sleep very well etc etc, and then the deal goes through and i'm still excited but then the depression sets in, cos the light seems so far away and the sacrifices seem so great. But then the next burst of energy comes and the process starts all over again.

I'm sure as I get more experienced, these feelings will be less intense and last for a shorter period of time. But I ask myself "what is the alternative?". In my everyday life I was like this anyway, before property investing. And as I get to do stuff more often, the feelings get less intense and last for a shorter period aswell. Maybe this reflects the type of personality traits that self motivated people have, rather than actual property investing?

Glad to see you back anyway.

SS

 

[Lplate]

[snip]....

In the end, it's easy to feel like I am doing the right thing in this environment. But when the environment you live in consist of "simple" people, ie: they only buy what they need not what they want and they definately do not think they need financial freedom for their happiness- it gets difficult.

Meta
I sense you do not feel supported or that yoiu are not on a common wavelength with your partner or close ones. Is it that you have ambition for financial freedom and s/he does not?

I recall a few threads where people discussed the difficulties faced where partners, families or friends were not supportive. A search might help. It is very difficult where one's close ones are not motivated to better themselves. Don't be too hard on yourself though.
Lplate