What advice would you give yourself 10 years ago that you know now?

Great thread and great posts.

When l think back l tend to get angry at myself,
l then get a bit depressed at how much has slipped through my fingers and my brain. gotta get over it!

I am enjoying this journey in property.
I enjoy seeing my net worth grow with what I HAVE DONE because l chose to finally believe in myself.

It will be nice in about 5 years to reap all my rewards whilst those l DID listen to will still be plodding off to work or reading up on yet another lot of new superanuation rules and taxes.
cheers yadreamin
 
Great Thread Guys

OK I am not going to say read this or that because I was doing it. ( I needed that advice 20 years ago at 17 but being working class you don't even know these books exist!)

I ALSO WILL NOT SAY RISK MORE I was building a business, buying and developing property, etc. soon to move to Sydney (2nd best financial decision ever)

GET A LIFE PARTNER already had one here (1st best financial decision ever)

So here it is, my best advice to 27 year old Peter...

DO NOT GIVE UP BEING A PART TIME AEROBICS INSTRUCTOR BECAUSE YOUR GUNNA GET FAT!!! :eek:

Ahhh, some things, regardless of the money you have, are hard to change back. :(

Peter 147
 
Easy! I'd tell myself to trust my broker and buy all those overpriced tech stocks. (Ride the biggest stock boom in 30 yrs), cash out and buy into the greatest housing boom in my lifetime.

But how can anybody know?

Agree with Peter here "GET A LIFE PARTNER already had one here (1st best financial decision ever)"

Thommo
 
HI Thomo & Wish Ga

Glad to see others recognise the importance of having a life partner both financially and emotionally.

Off to brekkie with mine, Peter 147
 
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Hi Peter
From someone who has been married for 34 years, the word I use is essential :D not just 'importance'. (yes I do have a mother :) )
jahn
 
wish-ga said:
Peter, your aerobics instructor post made me laugh!!! :D :D :D

Was telling Friends and Wife about my post and your reply at Dinner last night.

Friends were stunned by my "dark" past. I replied (in all honesty) "maybee I should get back into it" Then wife was stunned. I think she mumbled "checking life insurance policy" and the dinner went on. LOL

Peter
 
Great thread! Lots of great advice and perspective in there. I guess it's never too late too contribute, so here are my few cents worth. :)

10 years ago I had just migrated to Australia. The things I wish I knew then include:

1. Get a financial education. Don't assume that all you need is a job. Learn about investing, as much as possible.

2. Start investing now. Don't wait or overanalyse. Start small, learn from your experience and keep fine tuning as you go along.

3. Don't expect the government or your employer to look after you when you're old. You need to take responsibility for your financial independence.

4. Understand that making mistakes is part of the process. Don't beat yourself up. Just learn what you can from it and keep moving forward.

5. Learn, learn, and learn more. Keep an open mind. Don't assume it's impossible. Seek like minded people to travel with through the journey.

6. Balance wealth with other essentials like family, health, and friends.

7. There is no guarantees when investing. You are always taking risks. They key is to be able to take the right risks, ie, the ones that you are comfortable with, and avoid risks that could wipe you out.

8. Investing is a personal thing. What works for Jane does not necessarily works for Bob. You need to work out what works for you, given your unique situation, characters, and skills. You may not be able to apply what the 'gurus' have been able to do.

That's all I can think of at the moment. I have found this forum one of the best source of knowledge and inspiration, even though I have only discovered it a few months ago. Thanks to everybody who have contributed to this thread.

Cheers,
 
If I was more poetic I'd say something like 'Believe in yourself!' or 'Trust your instincts!' or something. However, I didn't do too badly even WITHOUT such emotional advice from my future self, so I'll stick to the practicals.

My advice would include 'buy Solution6 at 8 cents and sell at $18', 'long NASDAQ until 5000 then short it' and 'short Enron at $80'. 'After Enron collapses buy Perth property'.

*drool*
Alex
 
advice to myself, if i were still 17:
- don't go straight to uni. take a year off to work, save a deposit and buy a house.
- dump garth
 
Hi All,

great thread. Interesting how many people have said that reading books and learning would have been a priority.

My Top 10 advice to myself 10 years ago would have been similar to what I would say now:

(1) Try and work out as many larger concepts about what really goes on in the world as you can - look at the facts of what happens not what the mass might think

(2) Educate yourself on assets, finance, leverage, compound growth

(3) Think 100 times bigger than you do currently - expand your consciousness

(4) Place in perspective what your employee job is and where it fits into the schema of things

(5) Buy property that will appreciate and hold for the long term

(6) Buy shares and don't sell them

(7) Use investing to generate time freedom, and use that time freedome to do the things you want to in life

(8) Be the best you can to your family and friends, love and appreciate them

(9) Look after your health

(10) Have balance, be compassionate, appreciate life and be happy


Cheers,

Tim
 
and, to borrow a slogan:
- just do it. this will be the one thing i think i'll drum into my kids when i have them. ideas are great but without action they'll never come to much. i'd tell myself to hurry up and get on with it. learn to take action.
 
I'm really enjoying this thread.
So what advice would I have given to myself 10 years ago...1997:

1. Dump the b/f at the time...too much negativity.
2. Read the Jan Somer's book I'd been given that was still sitting on my bookshelf.
3. Stop spending money on doodads.
4. STOP BEING AFRAID...of EVERYTHING!
5. Save and invest in IP's.
6. Value myself.
7. Pay myself first.

However, having given myself all that advice, I would not be where and who I am today, if I'd not travelled the path I have. All the meanderings and side-tracks have added to my personal growth and development ... can't get that out of a book or from a uni degree.

So I would give myself one more piece of advice:

Regret nothing...tis all grist for the mill. Happy with the mill!:D
 
- dump garth

Hey luce,

How could you say no to that face?

garth.jpg
 
Seriously I'd pass on this advice as i think it's great (especially the sunscreen after having a few chunks cutout of me by Dr's) due to a childhood in the far north of WA.

Wear sunscreen.

If I could offer you only one tip for the future, sunscreen would be it. The long-term benefits of sunscreen have been proved by scientists, whereas the rest of my advice has no basis more reliable than my own meandering experience. I will dispense this advice now.

Enjoy the power and beauty of your youth. Oh, never mind. You will not understand the power and beauty of your youth until they've faded. But trust me, in 20 years, you'll look back at photos of yourself and recall in a way you can't grasp now how much possibility lay before you and how fabulous you really looked. You are not as fat as you imagine.

Don't worry about the future. Or worry, but know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum. The real troubles in your life are apt to be things that never crossed your worried mind, the kind that blindside you at 4pm on some idle Tuesday.

Do one thing every day that scares you.

Sing.

Don't be reckless with other people's hearts. Don't put up with people who are reckless with yours.

Floss.

Don't waste your time on jealousy. Sometimes you're ahead, sometimes you're behind. The race is long and, in the end, it's only with yourself.

Remember compliments you receive. Forget the insults. If you succeed in doing this, tell me how.

Keep your old love letters. Throw away your old bank statements.

Stretch.

Don't feel guilty if you don't know what you want to do with your life. The most interesting people I know didn't know at 22 what they wanted to do with their lives. Some of the most interesting 40-year-olds I know still don't.

Get plenty of calcium. Be kind to your knees. You'll miss them when they're gone.

Maybe you'll marry, maybe you won't. Maybe you'll have children, maybe you won't. Maybe you'll divorce at 40, maybe you'll dance the funky chicken on your 75th wedding anniversary. Whatever you do, don't congratulate yourself too much, or berate yourself either. Your choices are half chance. So are everybody else's.

Enjoy your body. Use it every way you can. Don't be afraid of it or of what other people think of it. It's the greatest instrument you'll ever own.

Dance, even if you have nowhere to do it but your living room.

Read the directions, even if you don't follow them.

Do not read beauty magazines. They will only make you feel ugly.

Get to know your parents. You never know when they'll be gone for good. Be nice to your siblings. They're your best link to your past and the people most likely to stick with you in the future.

Understand that friends come and go, but with a precious few you should hold on. Work hard to bridge the gaps in geography and lifestyle, because the older you get, the more you need the people who knew you when you were young.

Live in New York City once, but leave before it makes you hard. Live in Northern California once, but leave before it makes you soft. Travel.

Accept certain inalienable truths: Prices will rise. Politicians will philander. You, too, will get old. And when you do, you'll fantasize that when you were young, prices were reasonable, politicians were noble and children respected their elders.

Respect your elders.

Don't expect anyone else to support you. Maybe you have a trust fund. Maybe you'll have a wealthy spouse. But you never know when either one might run out.

Don't mess too much with your hair or by the time you're 40 it will look 85.

Be careful whose advice you buy, but be patient with those who supply it. Advice is a form of nostalgia. Dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it's worth.

But trust me on the sunscreen.

As for Financial advice.....not sure I would've listened or been able to apply it anyhow as I probably wasn't ready for it; I'm still learning

Having a safety buffer and not selling, but rather using the equity gained would've been great advice though ;o)
 
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