Sacrafices as an investor

[Toon]

I don't miss those after watching too many Gordon Ramsay shows!!

Cheers,

The Y-man

I'll second that! I think almost every food outlet in Ballarat needs a big dose of Ramsay. Almost impossible to find one with consistently good food, service and value. We wouldn't go out for tea very often anyway as part of our IP sacrificing, but it's been over six months now due to the above issues.

 

[natmarie73]

I live in Mt. Isa, far, far away from civilisation.... need I say more?

I am considering doing the same next year. I have a choice of two jobs, both paying a similar salary. One is based in Perth and one in Moranbah. I will definately have a lot more money to invest (extra $200/week) if I choose to live in Moranbah as my rent will be subsidised whereas if I live in Perth I will have to pay my own rent.

Quite happy to live out in the sticks for a few years if by doing so I can a) save lots of money through subsidised rent and b) save even more money by not going out and not spending money on expensive clothes/shoes etc which are not necessary in the bush anyway.

In my eyes it is definately worth it for a short time at least.

 

[Bon]

The boredom factor on the days off is tough.... I used to go down to the pub and drink out of pure boredom, not much else to do!! Bar work & security on the weekends are good though, they automatically reduce your drinking and you get paid to socialise instead

Living out in the sticks is not as bad as originally expected I guess, you just need to meet some good people

 

[tonyc00]

err - what was the question again?

Sacrafices !!

I would guess that my sacrafices have been in the opportunity cost realm - unit prices in most parts of Sydney would be the same as 3-4 years ago, therefore lower in real terms.

Thus I would sooner be buying now than when I did. But then, the same units would not have been for sale now.

Also even with negative gearing for every dollar spent there is a net cost, and so far the capital growth has not compensated for the cash loss.

So yes, there have been sacrifices but, as per other commentators, I've not had to do without to make the investment. So in summary, no sacrifices but then again, no rewards either.

Regards

Tony

 

[Gentle_Chief]

Good post Bon.....Interesting perspective. There were two sides to your story: (1) Hard Work & (2) Alcohol.

Hard work - Inspiring words on how you are toughing it out and giving your best to achieve what you believe in.

Alcohol - sorry, but I dont agree with you here on your zero alcohol policy. To me Alcohol is a very important aspect of life. The question is how much of Alcohol. A little too much and then its a problem, too litte is also a problem too But with just the right amount it helps me build friends, network with colleagues, have a positive attitude inspite of having been dealt a bad hand, and probably some of the best ideas I have recieved were after I have had a beer or two. I truly believe Angels whisper to you when you are holding that glass in your hands. I can't put a price to this but know its invaluable.

One must believe life is 80% head and 20% heart. Work hard (80%) & play hard (20%)........otherwise we would be burning ourselves insideout.

Good luck!

 

[Old Mate]

Alcohol - sorry, but I dont agree with you here on your zero alcohol policy. To me Alcohol is a very important aspect of life.


Alcohol is a very important aspect of life??? I strongly disagree but anyways, I haven't really sacrificed much as I'm just getting starting in investing. Just cutting down on going out and holding off buying a car until I really need it.

EDIT: Stuffed up the quote but you get the idea

 

[Bon]

Alcohol - sorry, but I dont agree with you here on your zero alcohol policy. To me Alcohol is a very important aspect of life. The question is how much of Alcohol. A little too much and then its a problem, too litte is also a problem too But with just the right amount it helps me build friends, network with colleagues, have a positive attitude inspite of having been dealt a bad hand, and probably some of the best ideas I have recieved were after I have had a beer or two. I truly believe Angels whisper to you when you are holding that glass in your hands. I can't put a price to this but know its invaluable.

One must believe life is 80% head and 20% heart. Work hard (80%) & play hard (20%)........otherwise we would be burning ourselves insideout.

Good luck!

Great call! Alcohol is a massive social tool...

Working crowd control pretty much has the same effect I feel, I find that most patrons, especially the regulars, will come up to me and be all to happy to blabber all sorts of personal details to me just because they see my face regularly.

It's tough for me to stop after a few drinks, I am generally an all or nothing kind of person

Regardless, I love your way of thinking and drinking is something I will definitely consider in the future if I feel it can help me to socialise and network where I wouldn't be able to otherwise.

 

[gomum]

I have to use the word 'sacrifice' for time. We spend too much time running our small business then spending it with the kids. Since we bought our first IP last year, I haven't spent a weekend at all with the kids. That's what I really miss. I'd prefer to employ someone to do the work, but there's not many willing workers around - let alone working weekends.
We have to give up holidays this year as we are trying to squeeze in another Ip. A holiday is not a luxury to us as this keeps us sane to keep going. We work 6 days & nights at 60 hr week. But being a beginner we know we have to buy more Ip's and ride through the next boom before we can have a breather.
We'd prefer to give up the business and just hold down a job, but with the economy slowing and increased unemployment, we may just stay put. But it is encouraging to see all the top members having done well and some living quite a comftable life.

 

[investor_eddie]

It's strange. I am happier now that I don't drink, smoke, go out as much and own a lot less "nice" things.

Geez I hope I don't end up like those millionaires who still use fuel\food vouchers and buy clothes from St Vinnies haha.

 

[The Y-man]

Geez I hope I don't end up like those millionaires who still use fuel\food vouchers and buy clothes from St Vinnies haha.

Oi! What's wrong with that?

Cheers,

The Y-man

 

[GoAnna!]

For me the most previous thing I can buy is time.

Time with family and friends.

Time to take care of myself physically, mentally and emotionally.

Time to follow my passions.

Time to daydream.

Time to make a difference.

Time spent how I want to spend it rather than have to spend it.

Doodads are only good to me if they help me to any of the above.

A fantastic mattress $1,500

A lovely warm doona $200

Waking up with my husband on a Monday morning with no alarm and an unscheduled day ahead of us - priceless!

 

[ianvestor]

I spend 95% of my income on entertainment.

However I also happen to find property investing extremely entertaining.

I don't really feel like I'm making any sacrifices, because I find it fun spending money on property.

 

[The Y-man]

Waking up .... priceless!

Yes, just waking up is priceless, considering the other option!

Cheers,

The Y-man

 

[Bricks & Mortar]

I suspect the sacrifices made are dependant on

1. how far along the investing rd we are. Those who have been invested for some time are more likely to not need to make any sacrifices.

2. income/job. Those pulling in more $'s can build up investments with less sacrifice than those with average or below incomes.

Obviously some live more frugally than others regardless of there income or financial position. I'm more on the frugal side, so not having some things mightn't be much a sacrifice to me, but might would be to others.

Certainly agree with your thoughts on this one!

Acceleration of growth...or speeding up the process of acquistion to achieve or end goals sooner will obviously effect what sacrifices are adjusted to your lifestyle which includes loss of personal time, fun and more etc .... but that is a short term pain for a long term gain.

Most formities are at the age where they do have lots of time on their side and can enjoy lifestyle with little or no sacrifices.

Everyone is different, for us it was a catch up on something which I had procrastinated for decades.
At least with an intensive and progressive attitude once we started we've managed to start to get back the little luxurys which have illuded us for the past 5 years.

Are they sacrifices or mindset?

Does it really matter.... what does matter is not to become too obsessed with either and to loose sight of what you are doing for.

- "Just do it" but remember to also " Live life to the Max"

 

[PrimeCommercial]

This is the sacrifice I had to make.

Garage ...before and after photo's

They were all mine except the yellow one which was my brothers. The red one in the middle was my wife's.
Now they're all gone

 

[hobo-jo]

This is the sacrifice I had to make.
Garage ...before and after photo's
They were all mine except the yellow one which was my brothers. The red one in the middle was my wife's.
Now they're all gone

All gone? I understand making sacrifices, but to the point of depraving yourself of any motorbikes? Whats the point? Surely keeping one wouldn't hurt the finances too much.

Yes, just waking up is priceless, considering the other option!

What? Sleeping in? I prefer the latter


I wouldn't really say that I've sacrificed anything to this point. I have my brand new motorbike and fancy computer, that's all I need . I live pretty simply, don't smoke/drink, don't buy expensive clothing or waste my money.

To this point though my only investment in property has been in my PPOR, which I plan to subdivide and build on down the track. Other investments recently include shares and silver and when the price is right probably gold.

I like reading/investigating my investment options. The real sacrifices would be made if I couldn't invest. As someone else mentioned investing is exciting/entertaining, who would want to do be without it?

 

[alexgsz]

Great call! Alcohol is a massive social tool...

Working crowd control pretty much has the same effect I feel, I find that most patrons, especially the regulars, will come up to me and be all to happy to blabber all sorts of personal details to me just because they see my face regularly.

It's tough for me to stop after a few drinks, I am generally an all or nothing kind of person

Regardless, I love your way of thinking and drinking is something I will definitely consider in the future if I feel it can help me to socialise and network where I wouldn't be able to otherwise.

Whilst not alcohol I do employ a similar strategy with work lunches.
After spending a year bringing my lunch in every day whilst my colleagues would go out for lunch I found that I was missing out on the social and networking side of things.

I've found that after deciding to "invest" some time and money into my lunches they easily pay themselves off on the work front. Spending time with people outside of the work environment gives people the chance to open up and I've built much better working relationships with my peers that I previously did. This in turn has led to pay raises and work that I know I would not have received had I not invested on my networking.

Networking... the wife doesn't quite understand it, but I feel its worthwhile... oh and I hate getting my lunch ready in the morning

 

[PrimeCommercial]

All gone? I understand making sacrifices, but to the point of depraving yourself of any motorbikes? Whats the point? Surely keeping one wouldn't hurt the finances too much.

We'll I cant say that they all had to go, but in the end they did.

My wife became pregnant, so her bike went.
I was going to either kill myself or loose my license in a big way on the Fireblade (blue road bike). So that had to go. I'm still thinking about a track bike though.
I had no need for the two enduro bikes. They wr426 (blue one) was an old bike so that went.
That just leaves my KTM525 (orange one) and with a new born, a new house and a new wife it just ended up in the trading post.

One day soon I'll get another enduro bike.

 

[natmarie73]

That just leaves my KTM525 (orange one) and with a new born, a new house and a new wife it just ended up in the trading post.

One day soon I'll get another enduro bike.

The exact thing happened to a friend of mine. Enduro and motorcross was his only hobby and the only thing he really enjoyed but as soon as he was married his wife made him stop and sell his bikes (even though she still continued her pottery).

He is still saying he will soon get back into enduro racing more than 6 years later.

 

[Dazz]

his only hobby and the only thing he really enjoyed but as soon as he was married his wife made him stop

....that is so pitiful and yet, so common to hear.