Well well well, how things change.

Mark, How is using your money from working wrong ? Apprentice mechanic buys a car, does it up at work, sells it for a tiny profit, puts that together with his sacvings from his wages and ends up with double the car of his mates who did not do the same thing.. Or, mechanic saves all his money while his mates spend theirs like I did, and he ends up with a better car than his mates. Is one really different to ther other ?

Does your last paragraph really represent the definition of investing ?

If not, then how is it greed ?
If so, how so ?
It`s not wrong at all, it becomes wrong when it becomes and obsession to the detriment of others, be it family, friends or others.
We all show greed to some extent at one time or another but it needs to be controlled or it becomes self destructive.
Before you know it you start to look down on or ignore the less fortunate and overestimate your own self worth as a way of compensating for your own growing lack of self respect.
Or start rationing out handouts to compensate while letting everyone know about it.
 
It`s not wrong at all, it becomes wrong when it becomes and obsession to the detriment of others, be it family, friends or others.
We all show greed to some extent at one time or another but it needs to be controlled or it becomes self destructive.
Before you know it you start to look down on or ignore the less fortunate and overestimate your own self worth as a way of compensating for your own growing lack of self respect.
Or start rationing out handouts to compensate while letting everyone know about it.
I completely agree with Mark. There are highs and lows in everyone's life and I strongly believe in karma (well actually god) that it does have to do with luck and it can all get taken away from you in a sec too easily.

When I first started out, I was big headed, made loads of money and almost got punished many times. Now I still make a lot of money but my approach is very different. It doesn't consume my life. We are still very careful regarding decisions we make, it has to tick most of the boxes including ethics and morals, taking into consideration others and the market. Not just about money.

The reason why we do sell (who cares about tax dollars, what if you get so greedy and are punished with a life threatening illness?) is because we do share our wealth with others. I give money to my mother in law and my parents on a very regular basis. Fillial piety is the most important thing is chinese custom.

Don't admire ppl who are wealthy coz they were tough and ruthless and greedy to get to the top because I can assure 100% that whilst they are wealthy, there are problems in other areas of their life and much bigger problems.

I see it all too often. I can't believe that all our prayers have been answered. My friends who are selfish and greedy, well they don't get all their wishes.

We may not be a multi millionaire but we are truly really happy and blessed.
 
for sure Sue..

Sounds like what you described is a learning curve..

Discover t=somethign new, get so motivated that you can't sleep ! Try it and get a bit of success, that it spurs you onto learning more & doing more ! It's more exciting thatn other stuff, so it's esy to actually spend time on it - its bloody fun ! You can get to the point wher your mates feel like you are 'obsessed with with it' an ex g/friedn told me that when I satrted going to the gym & getting enhtused by it, but it was the new novelty factor and the surprises... guess it is up to us to keep a level head so to speak, but I still can't see what Markpatric is suggesting we do instead except not invest ?
If I didn;t invest, would I necessaily be putting all that money into charity (what, like everyone else in the country is supposedly doing ?).. It would get spent here/there in the economy, just as it is now.. I fI bought $100 desinger tshirt, or paid $100 interest on my ip which provided rent for somoeone (yes at a cost, just like the hugo boss shop owner who sold me the tshirt I needed/wanted), it is still money flowing through the ecomony the same way

yes some people give loudly.. I heard of one person who arranged a dininer party at so much per head , then when everyone was there announced that he was donating profits to such & such a charity & that everyone had to donate (can;t remember, thnk he suggested a minumum amount too) before leaving.. in my view, that's wrong.. hold such a party, tell people wher ethe profits are going & off them the ability to donate, but putting them on the spot seems to only acheive making yourself feel superior when in my view you're not.

I agree with the sentiments of your post
 
Don't admire ppl who are wealthy coz they were tough and ruthless and greedy to get to the top because I can assure 100% that whilst they are wealthy, there are problems in other areas of their life and much bigger problems.
It is simply a myth that wealthy people are this way.

it is true that they still have problems, but in life; problems are normal; it's how you deal with them that makes the difference in the person; not their wealth level.

Most of the super rich are just really nice people like all of us, who happen to get rich.

They are actually more generous - because they can be, and most of them still act mostly normal.

The ones who are in the middle - not really rich, but not poor - are the ones who tend to be w@nkers and selfish in my experience. A generalisation of course, but there is a bit of a trend.

In my profession as a golf pro, I have been able to witness both ends of the wealth scale.

I can promise you; I would rather associate with the wealthy than the old pensioners who have a life of very little - not because the pensioners are bad people, but their outlook is often quite limited.
 
It is simply a myth that wealthy people are this way.

it is true that they still have problems, but in life; problems are normal; it's how you deal with them that makes the difference in the person; not their wealth level.

Most of the super rich are just really nice people like all of us, who happen to get rich.

They are actually more generous - because they can be, and most of them still act mostly normal.

The ones who are in the middle - not really rich, but not poor - are the ones who tend to be w@nkers and selfish in my experience. A generalisation of course, but there is a bit of a trend.

In my profession as a golf pro, I have been able to witness both ends of the wealth scale.

I can promise you; I would rather associate with the wealthy than the old pensioners who have a life of very little - not because the pensioners are bad people, but their outlook is often quite limited.
A lot of generalisations there!, everyone I think has aquaintances or freinds from all ends of the spectrum, I think the fact that you have or don`t have money doesn`t allow us to judge one way or the other.
Many have money and lose it through circumstances which may or may not be within thier control.
Some go through most of thier life without much at all before they finally find thier calling and hit the jackpot.
On the subject of karma I have seen it work its wonder right down to the dollar where money and health is concerned, made me think a lot about the way I approach things in general.:eek:
You could almost chart a course by it.
 
I read a thing once where you take your 5 closest friend and average their incomes and the average should be close to your own income. Or something like that. Seems to make sense.

One thing i have noticed on my journey is that people who take a lot in life. Whether materially, time or whatever never seem to have a lot.

Whereas as people who give have the most.

It seems counter intuitive (because you think the opposite would apply) but i've been looking at it a long time and while it is a generalisation, seems to have some merit.
 
Personally I've never seen a better opportunity to build a portfolio such as now and have been 'putting my money where my mouth is' and will continue to do so whenever I can.

Just my two cents.

I'd be a little worried with your timing. Has a property boom ever started at the beginning of a recession? Ever?

90's recession, boom started 97.
Early 80's recession, boom started 87.

I'm waiting till the end, or at least several years after the start, or even till unemployment tops out. Just not the start for goodness sake.

Good luck anyhow. Maybe this one will be different.


See ya's.
 
So I am wondering what have people learned from all this?.
I've learnt to keep a positive attitude!

A positive frame of mind can assist you in altering your game plan. It's funny but when I think about mind set and strategy, I sometimes get conflicting ideas. Take the approach of finding a good strategy and sticking to it, works great until the rules of the game change. But if you keep chopping and changing you will never get good at anything. So you need to remain positive, adapt your strategy to the changing environment but try and maintain a similar approach so you can utilise skills and use experience you have gained.

If you stick to the same game plan with NO CHANGES it will stop working, everyone needs to be open to alter and modify their game plan. But the positive attitude and mindset are very important.

Well that's the lessons I"ve learnt.

Cheers
Graeme
 
I'd be a little worried with your timing. Has a property boom ever started at the beginning of a recession? Ever?
I agree that it isn't a good time for arrogance, and no one should be buying having to make gains in the short term, but it will become apparent in the next month or two what the affect of monetary policy will have on the economy.

There is the most demand i have seen in the lower end in years, will this have a flow on effect? Who could be sure..

I'm definitely not calling boom but I still think people should be out looking to buy if they are secure and can afford to.
 
I agree that it isn't a good time for arrogance, and no one should be buying having to make gains in the short term, but it will become apparent in the next month or two what the affect of monetary policy will have on the economy..

The fiscal stimulous is not stupid, but going into debt to give it is. The FHOG is stupid. Everyone needs to take their medicine and get used to a slow down. it's obvious now there was a bubble in everything, caused by excess debt and easy credit. Most growth in recent times was an illusion.

If the stimulous does by some miracle work, then we are faced with inflation, which means interest rates will rapidly rise.



I'm definitely not calling boom but I still think people should be out looking to buy if they are secure and can afford to.

Agree with that. I bought a unit in Sydney a few months ago. I simply don't believe in cash as an investment, and I don't understand gold. I plan on staying almost debt free though. The time to gear up big is years away yet, and when it comes, it will be the cashed up and debt free who clean up.

If I'm wrong, and if now really is the time to buy, then I don't care. I'll do OK what ever happens. It's never happened before though, that is, buying up big and gearing big at the start of a recession and rising unemployment leads to anything else but disaster.

See ya's.
 
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The fiscal stimulous is not stupid, but going into debt to give it is. The FHOG is stupid. Everyone needs to take their medicine and get used to a slow down. it's obvious now there was a bubble in everything, caused by excess debt and easy credit. Most growth in recent times was an illusion.

If the stimulous does by some miracle work, then we are faced with inflation, which means interest rates will rapidly rise.






Agree with that. I bought a unit in Sydney a few months ago. I simply don't believe in cash as an investment. I plan on staying almost debt free though. The time to gear up big is years away yet, and when it comes, it will be the cashed up and debt free who clean up.

If I'm wrong, and if now really is the time to buy, then I don't care. I'll do OK what ever happens. It's never happened before though, that is, buying at the start of a recession and rising unemployment leads to anything else but disaster.

See ya's.
I agree with that, I think five to seven years for any more substancial growth is agreed pretty much right across the board with regard to real estate.
It is one thing for all of us over the years to give ideas for strategies etc but now really is the time to pay attention, because we see the whole picture.
Like Richard Branson said over the next few years will see some big entrepeneurs surface, there are opportunities to get in markets now that were not even remote before.
By the time that 7 years to stability comes around many will be not even thinking real estate as it will have been dead for so long and the whole cycle will continue.
I think it is a simple matter of growth which was out of proportion and now maybe we get the leveller, no more no less.
 
Hi all,

Markpatric,

I think five to seven years for any more substancial growth is agreed pretty much right across the board with regard to real estate.
Since when did any investment class perform how it was expected too, by nearly everyone, over a 5-7 year period??


bye
 
Hi all,

Markpatric,



Since when did any investment class perform how it was expected too, by nearly everyone, over a 5-7 year period??


bye
Well if you take the general perception of most who have made fortunes in real estate I think there would be some merit and a good deal of reason to the idea.
 
I agree with that, I think five to seven years for any more substancial growth is agreed pretty much right across the board with regard to real estate.

Despite your obvious property "runs on the board", I'm going to go against your thinking. I'm planning on jumping in boots and all and hocking myself up to the eyeballs again.


Found myself a real doozy and can't wait to get stuck in. I'll see you on the other side of the 7 year prophecy and we'll compare how our differing strategies went. Time has already told....
 
Don't admire ppl who are wealthy coz they were tough and ruthless and greedy to get to the top because I can assure 100% that whilst they are wealthy, there are problems in other areas of their life and much bigger problems.

If you are serious about that then your 100% assurances on strangers you don't even know is a farce, to put it mildly.


You haven't defined wealthy / tough / ruthless or greedy, so no-one really knows what you are actually talking about. What you have spoken of previously Sue78 at the 1.5M level, most folks would look at you and your husband as being in that wealthy class, so the tirade you heap on 'the wealthy' would be pointed at yourself by the ordinary chap on the street. I don't think you'd agree with yourself then.


I agree with your observations Marc re: the wealthy folks. They do mostly seemed settled and content. It's the wannabes / climbers / nearly there folk who try way too hard. We have found that in our travels.
 
Originally Posted by sue78
Don't admire ppl who are wealthy coz they were tough and ruthless and greedy to get to the top because I can assure 100% that whilst they are wealthy, there are problems in other areas of their life and much bigger problems.


I understand Sue's post is that she does not admire wealthy ppl who became wealthy by being ruthless and greedy, she does not mean all wealthy ppl are like that. So she did not point to herself either as she believes she has been sharing her wealth and being "good" not "greedy" :)
 
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