Percentage of Pop. who buy IP's

[plainsong]

Agree with Jacque,

I learn something from absolutely everybody.. I have found that people with a deep interest in a subject quite naturally become a little obsessive about it-- but if it narrows their base of interests too much it's really not a good thing in the long run,

Big world and so much to learn,

Cheers,

 

[brains]

JoannaK wrote:

"I agree completely...so much so that we've recently culled everyone that we once considered to be friends but no longer have anything in common with. That's just what happens."


CULLED???.............lovely choice of word when referring to friends, im surprised you werent "culled" first for being such a tosser. I couldnt imagine a life where i only know property investors or any one type of people for that matter.

Spiderman wrote:

"Nevertheless I agree that the beginner without good money habits or a strategy should stay away from casinos, pubs, TABs and other money sapping places whose patrons cede control of their lives and money to others. Apart from keeping your money intact, staying away stops you reinforcing bad habits from the financially uneducated that typically populate such places. Once you've got good habits and sufficient confidence in them so you can't be influenced, then a casino/TAB/pub visit won't do any harm, particularly if it's treated as an example of what not to do and an opportunity to be thankful of your achievements. "

I disagree with this guff, i have a TAB account, love a beer and like nothing better than an occasional splurge at the casino in whatever state capital im in. (Much to my wifes consternation, but thats counteracted by me not complaining about her Italian leather shoe buying habits, her friends call her Imelda ) I consider myself financialy educated and successful and i know plenty like me.


Its called having a life as well as investing and being successful. It makes the rounded individual. Just because you consider people who do these things uneducated low lifes, doesnt mean that is the case. Maybe you should get out a bit more.

 

[multi]

Wow !

This is all great mate, I really enjoyed your post.

The only thing I have troubles understanding - how you come to choosing your username? It just seem to be incompatible with TAB account.

Rounded individual - mmmmmmmmmmmmmmm................

 

[Les]

G'day Brains,

You said

Just because you consider people who do these things uneducated low lifes, doesnt mean that is the case

I'm at a loss to understand just "who" the poster is that you referred to (refer to ".... because you consider people....") Is this the generic you that means "all of us"?? Or, just those who replied that you (Brains) happen to disagree with? Or was it just one specific individual ?

Whichever it was, it appears that "they" considered others to be uneducated lowlifes.....

....... and yet I don't see any replies where anyone else even mentioned this phrase - except you. Did I miss a reply somewhere?

I'm finding it hard to understand just what you (Brains) are getting at here......

PS bloody English pronouns...... !!!

Regards,

 

[cad]

Go Les,

Hear! Hear!

Cheers cad

 

[brains]

Les,

The 'you' i referred to is Spiderman, re read my post and it is addressed to Spiderman. There is no direct mention of "uneducated lowlifes" but the tone of his post is self evident and the implication is clear. I found the following paragrah elitist, condescending, insulting and a dispaly of Spidermans lack of knowledge of life in the real world. Its almost un Australian!!

Spiderman wrote:

"Apart from keeping your money intact, staying away stops you reinforcing bad habits from the financially uneducated that typically populate such places. Once you've got good habits and sufficient confidence in them so you can't be influenced, then a casino/TAB/pub visit won't do any harm, particularly if it's treated as an example of what not to do and an opportunity to be thankful of your achievements. "

If he actualy went to a race meeting, city pub or casino he would see so many financially educated individuals he wouldnt know which way to look and while hes there he might just get a life.

cad,

Congrats on your most articulate and constructive contribution to the forum so far

Originally posted by Les
G'day Brains,

You said

I'm at a loss to understand just "who" the poster is that you referred to (refer to ".... because you consider people....") Is this the generic you that means "all of us"?? Or, just those who replied that you (Brains) happen to disagree with? Or was it just one specific individual ?

Whichever it was, it appears that "they" considered others to be uneducated lowlifes.....

....... and yet I don't see any replies where anyone else even mentioned this phrase - except you. Did I miss a reply somewhere?

I'm finding it hard to understand just what you (Brains) are getting at here......

PS bloody English pronouns...... !!!

 

[Peter Parker]

On reflection, I think my earlier comments, though harsh are fair.

Note that I do not oppose people enjoying casinos, races, etc, but do agree with people weighing up what they value most, making provision for their future and taking control of their lives. Spending your life in a pub/Tab etc is hardly desirable or balanced if your family lives in poverty and has nothing for the future!

A couple of relevant points:

1. 'The Millionaire Mind', p 376 'Of the 30 lifestyle activities listed in the 12 month diary, one stands out as having the most significant inverse relationship with net worth. PLAYING THE LOTTERY. The higher a person's net worth the less likely he is to ever play the lottery'. This information came from a lifestyle survey of millionaires.

2. Recent Herald Sun reports on pokies. Studies show that they are concentrated in the lower socio-economic suburbs. The pokie purveyors are not dumb, and know where their machines make the most money!

Thus there seems to be an inverse relationship between gambling and wealth.

As you have pointed out, this does not necessarily mean that wealthy people don't gamble (look at Kerry Packer!). However for poor people with limited money and outlooks, putting money they can't afford down the pokie slot is a sure route to ruin. It also encourages the 'something for nothing' mentality, which is counterproductive. They might like doing it, but it's not necessarily doing them any good! But it's their choice, and they have a right to excercise this as you do yours!

I think we all agree that more people need more financial eduacation, and understanding of concepts like investing for the future and opportunity costs of various activities. Which for low income people can be very high indeed.

Peter

 

[brains]

Spiderman, You have got to be kidding.

After rereading my previous posts, i stand by them and have come to the conclusion that you are a pompous, elitist wannabe who either cant afford to or too tight to lose a few bob on a bet, a beer or a couple of games of blackjack. The venues you mention are not as full of the seething unwashed proletariat blowing their money on gambling as you would like to imagine.

btw....the following sensationalist bit of tabloid writing of yours would do any Sydney Telegraph Mirror journilist proud. Did you go to extremes here to add weight to your weak argument?

"Spending your life in a pub/Tab etc is hardly desirable or balanced if your family lives in poverty and has nothing for the future! "

 

[Aceyducey]

My personal wealh strategy doesn't involve getting rich through gambling so I have no need to spend much time in TABs, Clubs & at horse racetracks

Oh, and I regard alcohol as a crutch for those socially inept geek types brains talks about - don't need it so don't visit pubs much either now that the live music scene is virtually dead

And thankfully there are a multitude of other forms of entertainment out there.

It is possible to lead a balanced life and NEVER go into a club, pub or TAB

And Brains, watch what you read into people's posts - you have what seems to be a habit of reflecting your own beliefs and values onto others.

QUOTE 'There is no direct mention of "uneducated lowlifes" but the tone of his post is self evident and the implication is clear.'

This tone & implication is only self-evident to you

And I agree with the statement:
"Spending your life in a pub/Tab etc is hardly desirable or balanced if your family lives in poverty and has nothing for the future! "

It is absolutely true!!!!

Anything else read into the purpose of making this statement reflects your personal biases.

Cheers,

Aceyducey

 

[brains]

Acey,

The pub live music scene has been in the ascendency for years now after the proliferation of pokies years ago.

If what your saying is true, then the 98% of people who enjoy alchohol must be socially inept geeks who need alchohol as a crutch.

Im not saying pubs, betting and an occasional visit to a casino is everything in life, i am saying its part of the tapestry of experiences that make a life whole and make the rounded individual and that there is nothing wrong with it and not everyone in pubs at races or casino has a starving family at home with no future, in fact you'll find the opposite is true.

Oh, and Acey you have absolutely the worse case of reflecting your beliefs and values onto others. I cant believe some of your preaching, self righteous, know it all posts. You even said yourself in a previous post that your posts are preaching, that was right after you described yourself as a 'serial entrepenuer"
whatever that is.

 

[JoannaK]

Hi Guys,

Lets try not to go down the personal attack path here...this is a good thread, and it would be a shame to have it tarnished.

 

[Aceyducey]

Originally posted by brains
Oh, and Acey you have absolutely the worse case of reflecting your beliefs and values onto others. I cant believe some of your preaching, self righteous, know it all posts. You even said yourself in a previous post that your posts are preaching, that was right after you described yourself as a 'serial entrepenuer"
whatever that is.

Brains, coming from you I know this must be correct - after all it take one...

How about we both agree to try to be a more tolerant of others' beliefs and more open to reading peoples' statements without reading our own views and biases into them?

I promise I won't accuse anyone of being elitist or unAustralian and I won't personally insult people on this forum if you don't.

BTW: A serial entrepreneur is someone who founds & develops businesses for a living - and property investment does qualify as a business in my book .

Cheers,

Aceyducey

 

[Sim]

I think a line needs to be drawn between those people who enjoy gambling for the game compared to those who become addicted to it... similarly those people who enjoy alcohol for the socialisation that usually goes with it compared to those who become addicted to it.

Yes, gambling and alcohol can become a crutch for people. Well balanced people can also enjoy these things without adverse consequences (except perhaps a few lost brain cells).

It becomes a problem when it dominates your life and prevents you from being all that you could be - and worse when it adversely affects others around you like family.

Then again, other things can also lead to an imbalance in your life. Becoming consumed with building wealth to the detriment of all others is also a sign of a lack of balance. Ever heard the phrase "take time to stop and smell the roses" ? At some point you have to live your life - and waiting until "retirement" to do that has its own issues.

Enjoy what you do - enjoy your life - enjoy your family - enjoy your friends... and most of all - enjoy contributing to our forum

 

[brains]

BANG!! You hit the nail on the head. Very eloquently put Sim.

 

[quoll]

My Observations

Tim

From what I have seen these stats sound reasonable.


I work in IT, most of my work mates are well paid.
Most buy lots of cosumer goods.
Some invest.
Of those that invest some are into shares, some property.
The property ones most have only 1 IP, some have 1 IP at a time buy sell buy another. Some hold. There is only one other out of 100 or so who has more than 1 IP.

Went to one of those free 2 hour seminars, the guy asked the room of 250 or so who had an IP, 3/4 put up their hands, who has more than 8 IP, not many, who has more than 20 - 2 people left with there hands up and this was a lunch time seminar about property investing.

Once you have 3 or more IP's you are in a very small minority.

Just my 2c

Regards
Graeme

 

[bbg2003]

It's also amazing how many of those "educated" people turn up to those share software seminars, racing software seminars, real estate seminars and get rich qwik seminars. They are probly the easiest targets.

As for me I don't drink(see Acey), don't smoke, don't go to pubs (same reasons as Acey), don't play lotto or gamble. And I'm not religious. I enjoy my work.

I believe in poeple, not things or saints. I'd rather have a chat over a coffee than go to the pub/club or the footy and drink or smoke that garbage. Good live music is always a goer though.

For me that's balance.

 

[D.T.]

Brains,

You always seem to have an extreme point of view and I have to admit i admire you and other people / things that aren't in the mainstream, so to speak. However, on this occasion you are disagreeing with both Acey and Spiderman, yet both have very valid points.

CULLED???.............lovely choice of word when referring to friends, im surprised you werent "culled" first for being such a tosser. I couldnt imagine a life where i only know property investors or any one type of people for that matter.

In response to that, I much prefer speaking to people who are financially educated as opposed to not. I have a girlfriend and a couple of good mates who are in the not section, this doesnt make me like them any less. I just get no joy out of telling them about this some kinds of things because they just dont get it. Someone called me arrogant once because i suggested that they should become 'financially educated' (shouldnt everybody?), tell me if you (dis)agree here?

In terms of gambling, what I think it comes down to is what you expect from it. To the financially uneducated, they probably believe that they're going to improve their financial situation out of it. Personally I dont mind going to a casino on occasion, especially when im interstate. This is because i find it fun -- Im fully aware it'll do nothing for my financial situation. Im fully aware that people of both catergories utilise these types of venues, however to think that theres only 2 catergories is being naive imho. Im not going to comment on alcohol/smoking.

Spiderman:

IMHO, if one has to avoid those kinds of places for the reasons you suggest, then one isnt financially educated.

Quoll:

500 people work at my office. Granted I dont know all of them, and probably never will. Yet I dont know of any who invest in direct property. Theres only a handful that I know of who invest in shares.

 

[brains]

dtraeger2k,

Thanks mate, Im an extreme kind of guy....haha.

I disagree with your stament below because if what you say is correct then everyone should be into BMW cars or growing cactus or hang gliding or death metal music or whatever. My point is that money and 'financial education' isnt for everyone and neither is anything else. Some people just arent into money or (shock horror!!) property investing and theres nothing wrong with that.

To suggest everyone should be financially educated is a similar thing to Spiderman saying that people should not go to pubs, casinos and TABs.

To be financially educated is smart and responsible because todays world is so money driven but some people get so caught up in it they cant see the forest for the trees. (Im sure you read Sim's excellent post)

Thats why i dont believe in the 'millionare next door concept' but i can appreciate delayed gratification to a small extent.

You only have one life, so to me its all about making money and enjoying life and everything in it....NOW!!!.....and in the future. Not one or the other......they are not mutually exclusive.....much to the surprise of the majority of posters on here.

My sentimenbts will probably kick this dormant thread off again, but thats cool...im up for it

"Someone called me arrogant once because i suggested that they should become 'financially educated' (shouldnt everybody?), tell me if you (dis)agree here?"

 

[suggo]

Brains I tend to agree with your point of view about having a 'financial education' is not for everyone, however as you stated yourself "todays world is so money driven", so wouldn't/couldn't that lead to the same situation as reading and writing?? Many years ago people could get by without having to read or write, nowadays if you can't read or write your in a pretty bad way.
With the world becoming so money driven a 'finanical education' in the future may very well be as important as reading or writing.

Just a thought!

Suggo

 

[D.T.]

Hi Brains,

I agree with you that everyone has different interests, and thats perfectly normal. However, i regard basic financial litteracy as a necessity as opposed to an interest. By time the people my age get to the current legal retirement age, it won't exist. Therefore, is it not survival of the smartest?

Suggo,

Thats right, but dont tell too many people hehe. We all need some tenants, right? Or does this message contradict with the one above

This thread has gone way off the track of 'percentage of pop who buys ips' in my opinion. Perhaps it should be split?

-Cheers

Dave