Percentage of Pop. who buy IP's

[brains]

What do yoy mean by 'survival of the fittest'? I know some people who have low incomes and 'survive' just fine and are among the happiest people i know. They have kids, moved to the country &/or North Coast because they didnt want to raise their kids in Sydney. To them the constant battle to achieve material wealth is 'just surviving' and madness.

They have a simple lifestyle of family and friends up there and love it. They sell a bit of pottery now and then, he does a bit of handyman work in the area, makes beer, plays guitar in a local band. They have a fantastic life.

If you're referring to survival in retirement, then thats no different.
Just live a simple, non-materialistic retirement and be happy.
Dont confuse money with survival or better still dont confuse material wealth with happiness.

Youre probabaly wondering why im saying this and am also on this forum and interested in property investing . Well, the answer is that i like money and what it brings but i can accept that its not for everyone and i have an open mind. To me, what you are saying is like a millionaire saying they cant understand why everyone is not a millionaire. The answer is because its not for everyone and thats the way humans are and thats cool.

Get Rich or Die Tryin........

Originally posted by dtraeger2k
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

 

[plainsong]

Yes agree with that, different strokes for different folks,
everyone isnt here to concentrate on accumulating money -
there are other things to focus on in life -people arent better or worse because they arent interested in what might facinate ourselves,
Investing isn't everyone's cuppa, some would rather do other stuff, thats all.

 

[suggo]

I agree with the different strokes for different folks! However you can't tell me that the majority of "poor" people are deliriously happy about the situation they are in finanically!! My bet is that most (most not all!) of the people who live a simple life live that way because they have no choice!

Brains I envy your friends and am very glad they have a wonderful life on their megre income, but I know of at least a dozen people who aren't happy with what they are earning and would like to live a life different to the one they have because of their income. So I believe that finanical education should become a must for all, not so everyone can become finanically independant or a multi, but so everyone then has a choice! What they do with this knowledge is entirely up to them but I reckon in the main it would be a damn site more useful to most than half the rubbish they teach us in school!

Just my two cents worth!

Suggo

 

[D.T.]

Hi Brains,

Good on them, really. You cant presume thats how they'd most enjoy life tho, if they dont know any other options exist. Just a thought, I dont mean to offend you / them at all.

-Regards

Dave

 

[brains]

The relevant stamenet is 'didnt want to bring their kids up in Sydney'.
He had a pretty good middle management job and had a bright future but drcided to do the move for the simple life.

Why do you think no other options exist? There were and they knew them but decided on the simple non - materialistic life.

And no offence taken, but my point - in a nutshell - is to keep an open mind to life and to remember that as good as financial independence is, its not everything for all people and that includes lots of people who have a choice and decide on a simpler life.

In fact the North Coast NSW is full of people like that, ex successful business people - managers - investors - etc - most moved from Sydney to enjoy the beach and country. I think id like to do it one day - i know my wife would do it tomrrow.

 

[Aceyducey]

A small point that seems to have been overlooked....

Financial freedom does not have to equal equal great wealth.

I've met people who own a few places outright & live off the rent.

They have no ambition to be wealthy, just enjoy the ability to be there for all their childrens' successes.

Becoming wealthy is an entirely different mindset to becoming financially independent.

However both require a good solid understanding of financial essentials (or rich relatives)

Most people I encounter WANT to be financially independent - many still want to keep working however

Brains, I would consider your friends on the North Coast a prime example of people who want their independence (and probably would like the financial kind too)....but aren't necessarily chasing wealth or want to give up their day jobs.

Cheers,

Aceyducey

 

[Xtine]

Success???

Seems that the major difference of EVERYONE's humble opinion is the meaning of 'success'. I believe success a multi-layering thing, of which financial success is one component. I hope to retire with many IP's to keep me financially, but this may not mean that I will have achieved 'success' in life.

This is what the Poet, Ralph Waldo Emerson had to say about success:

"To laugh often and much,
To win the respect of intelligent people
and affection of children
To earn the appreciation of honest critics
and endure the betrayal of false friends
To appreciate beauty, to find the best in others
To leave the world a bit better,
Whether by a healthy child,
a garden patch
or a redeemed social condition
To know even one life has breathed easier
because you have lived.

This is to have succeeded."


Ya gotta laugh - (even that's achieving the first line of success!)

 

[natmarie73]

There seems to be a confusion between "financial education" and "financial freedom or independance". I think that everyone should be financially educated even if they don't want to invest, become rich or retire at 30. Financial education is in my opinion the most important thing anyone should learn.

What causes the most marriage or relationship breakdowns? Money (or lack of). I can't believe that anyone wants to live their lives trapped in a spiral of consumer debt because they don't know how to manage their financial affairs.

While working at a large finance company I see many applications for personal finance both from low income earners as well as from high income earners. the similarities between the two is that a very high percentage of their income is already going toward paying off consumer debt. A good grounding in even basic financial education may prevent these people from becoming mired in debt or bankrupt which in extreme cases leads to suicide.

Nat