Some people are making it harder...

[Player]

Depends what cap one is wearing

The same applies to those that are of a pro property slant as well

Agree. I have commented significantly in the Melbourne Cooling thread:

http://www.somersoft.com/forums/showpost.php?p=687972&postcount=55

http://www.somersoft.com/forums/showpost.php?p=687972&postcount=55


Enzo, cash in term deposits as a transient home is a risk management tool, whilst a better home (sic) is found for those funds whether by direct cash investing or leveraging up into different assets that provide cashflow.

What inflation do you foresee here?

The US is likely to deflate and whilst we won't necessarily contract meningococcal out of their fiscal infections, it ain't gonna be a bed of roses here either.

We are in better shape to weather storms here and thank goodness for China, but storms they are and with the changing winds we need to set a different sail and don life jackets just in case

The yipee kayay tone of your posts that I've read thus far relies on speculation of continuing rapid capital appreciation. The rodeo ended in March/April.

 

[BayView]

People are at different stages of their life/career/plan - not everyone on a high income was born with a silver spoon in their mouth.

Quite correct. From my experience, very few people on high incomes got there without lots of hard work. That's why so few people earn high incomes. So if you are one of the lucky few; you should be very appreciative of it. Or, if you are not; then keep quiet so you don't offend the less fortunate.

marc, why do you feel your last sentence was necessary. To me, that is tall poppy syndrome in acton. The man says he is not happy in his job, nothing about the pay not being enough to compensate him, and you dismiss and put down his concern because he earns "a lot". Puzzling

To answer your earlier post; No tall poppy about it all. I don't consider myself beneath the person who earns this much. I earn this much these days; it wasn't always the case I can assure you.

I am of the view that we should try to emulate the people who do well, get rich, work hard and earn lots - but not if they are unappreciative of their success and whine to those who are less fortunate. Maybe he doesn't realise he was probably whining to those less fortunate in the audience. This only goes to show how insular and arrogant and out of touch higher earners can become if they are not careful.

I was answering from the viewpoint of the majority of people who will never see a $200k per year job, and who are living life a bit on the "tough" side.

I see loads of them every day in my life, and they are generally a happy bunch who accept their lot and get on with it without complaint. They are yer normal battler.

Yeah, they wish they could win Tatts and become rich, but it's not likely. They know it, and don't whine about things too much.

For someone to come on here who is earning $200k per year, and crying about how bad things are...well, they get no sympathy from me or any of the many millions of average folk who earn bugger-all and live week to week.

I say; harden the fark up, be happy you can earn such a great income and can do so much in life because of it, get out there and do something with your money and opportunity. Some people simply don't know how lucky they are.

I've ordered more tissues for that $200k per year cry-baby by the way.

 

[2ATONCE]

Well said Bayview
Some people on high incomes seem to think that they are hard done by!
I work 5 1/2 day,s a week for my $50,000 a year

 

[AndrewT]

I agree. I earn just over 1/4 of that when I work 7 days a week! I'ld happily be bored shitless for 200k..!

 

[terrence]

Well said Bayview
Some people on high incomes seem to think that they are hard done by!
I work 5 1/2 day,s a week for my $50,000 a year

You think THAT's hard done by?

I work 7 days a week for less than 40k a year!

 

[wobbycarly]

You think THAT's hard done by?

I work 7 days a week for less than 40k a year!

Well, of course, I've got it tough. I "work twenty hour day at mill for tuppence a month"

 

[MCS_80]

Regarding discussing investing in RE with friends and family, I don’t do it anymore myself also.

The last conversation I had was with my future Father in law.

He is newly retired 2 years ago (61 yo) and lives in a house worth $800k+ in Geelong all paid off with a vacant 11acre block of land in Little River, Victoria with no dwellings on it at all, just long grass.

After I brought up the idea of sub-dividing our block and/or investing in another area in RE, what I was told was the following in his best deep old man voice;

“You NEVER buy another house or property until you pay off the one you are in !!!”

I attempted to explain debt recylcing to him... Hahaha.... Now he thinks his daughter is with a mad man !!! hahahaha

Lets just say I shut my mouth from that point and just avoid the topic now….

Cheers

Mick

 

[yarraboy]

“You NEVER buy another house or property until you pay off the one you are in !!!”

Perhaps he has a point.

I understand that times change, however the advice of the older generations is always sound. They have lived through circumstances we have only read in books (depression, wars etc.). They have seen it all, and realize that things can change in a matter of days.

 

[Comper100]

Well, of course, I've got it tough. I "work twenty hour day at mill for tuppence a month"

Huhh, Luxury.... There were a hundred and sixty of us living in a small shoebox in the middle of the road.....

 

[Ace in the Hole]

I agree. I earn just over 1/4 of that when I work 7 days a week! I'ld happily be bored shitless for 200k..!

You may say that now, and everybody would likely say the same, I know I would have.
But when you become worth 200k and earn that level for a while, you may find that you would not be happy to be bored shitless, especially if you have advanced to the 400k level.

Become more valuable, you will earn more, and should expect to.

 

[cu@thetop]

Well, of course, I've got it tough. I "work twenty hour day at mill for tuppence a month"

Cardboard box in the middle of the motorway? You were lucky!!!!

 

[MCS_80]

“You NEVER buy another house or property until you pay off the one you are in !!!”

Perhaps he has a point.

I understand that times change, however the advice of the older generations is always sound. They have lived through circumstances we have only read in books (depression, wars etc.). They have seen it all, and realize that things can change in a matter of days.

Id be very interested in hearing how many people in here wait until they pay off an IP completely before buying thier next one? With IO loans being more popular with IP's, id say very little would.

Cheers

Mick

 

[skater]

Id be very interested in hearing how many people in here wait until they pay off an IP completely before buying thier next one? With IO loans being more popular with IP's, id say very little would.

No! Well into double figures and still have mortgages on the lot.

 

[RickF]

Id be very interested in hearing how many people in here wait until they pay off an IP completely before buying thier next one? With IO loans being more popular with IP's, id say very little would.

Cheers

Mick

My strategy doesn't lend itself to paying off existing IP's so as to purchase the next one.
Money used to pay down "good" debt could be used to service more "good" debt. Mine is a big picture, long term strategy.

 

[kathryn d]

Id be very interested in hearing how many people in here wait until they pay off an IP completely before buying thier next one? With IO loans being more popular with IP's, id say very little would.

Cheers

Mick

No!!
We do have some cheapies paid off (mobile homes), but that is because 4/6 of them were free anyways.

Using OP money the easiest way to purchase more properties quickly (other than lotto)
If you waited until a property was paid off, you would have 2?

 

[BayView]

“You NEVER buy another house or property until you pay off the one you are in !!!”

Perhaps he has a point.

I understand that times change, however the advice of the older generations is always sound. They have lived through circumstances we have only read in books (depression, wars etc.). They have seen it all, and realize that things can change in a matter of days.

Speak for yourself YB.

I've been around long enough to know that you make your own luck. yeah there can be wars and so on, but they don't necessarily impact your own personal life (unless maybe the war is on your very suburb/country).

By that I mean this; those old folk who whine about the depression and so on; I'll wager they are yer typical mum and dad who had a job (Dad had one; Mum was at home with the 4 kids) and maybe saved a bit, but would spend most of their earnings with no planning for the future.

You see it now; zillions of oldies wandering around, on the pension and totally broke.

Why? because they were from the depression yes, but I'll bet they lived a life of not a lot of planning and blamed the depression and a host of other factors beyond their control.

So, when one of these oldies blurts out; “You NEVER buy another house or property until you pay off the one you are in !!!” - I never listen.

If they are in the position where they own 4 or 5 houses in retirement and they trot out that classic, then I might.

 

[recruit2]

Quite correct. From my experience, very few people on high incomes got there without lots of hard work. That's why so few people earn high incomes. So if you are one of the lucky few; you should be very appreciative of it. Or, if you are not; then keep quiet so you don't offend the less fortunate.

Luck wasn't a factor unfortunately.

I've ordered more tissues for that $200k per year cry-baby by the way.

It seems to me that the only people needing tissues here are the ones whinging about their incomes without doing anything to change their situation.

 

[Trogdor]

Luck wasn't a factor unfortunately.



It seems to me that the only people needing tissues here are the ones whinging about their incomes without doing anything to change their situation.

Agree 100%.

Some of the responses to the post are disgraceful. Such tall poppy crap.

You have every right to vent on here about not being fulfilled in your job, irrespective of your pay. In fact, if you get paid more, chances are your have a more demanding, stressful, high pressure job (and not just longer hours in a "pleb" job like some jealous responders have been whinging about).

Its just jealousy pure and simple by those bagging you.

 

[VYBerlinaV8]

By that I mean this; those old folk who whine about the depression and so on; I'll wager they are yer typical mum and dad who had a job (Dad had one; Mum was at home with the 4 kids) and maybe saved a bit, but would spend most of their earnings with no planning for the future.

You see it now; zillions of oldies wandering around, on the pension and totally broke.

Why? because they were from the depression yes, but I'll bet they lived a life of not a lot of planning and blamed the depression and a host of other factors beyond their control.

A lot of my family are in this boat, although to be fair during the 50's and 60's they lived on little more than nothing. Still, the culture has never been one of getting ahead financially. Whenever I try to ask older family members about 'life lessons', I get shrugs and non-committal grunts.

Most of my extended family think I am headed for horrific financial disaster, despite what I tell them about risk management. They seem quite surprised that I seem to be getting wealthier, despite world events.

Different paths, I guess.

 

[wish-ga]

my first lesson, not to talk to family about property investing ......they can even put doubts in your mind.

Good for you mate. I regret letting other's fears stop me from acting sooner. I admire your strength. *high five*