What's the funniest/worst excuse you've heard for NOT investing from people?
- Thread starter Aceyducey
- Start date
Have a friend who was in a brand new house at Regents Park SE Qld, paid $150k for the house and land in around 2001. After a year said "We better get out now before the market go's bust". Sold for $230k, then proceeded to buy new Santa Fe, a few toys and got married. House was listed last year for $325k and mate is currently renting with no cash. Sad story but I couldn't convince him! I had as many people as possible call him (broker, bank manager, REA's etc etc) to say that the market wasn't going to bottom out in 2002!! Unsuccessful though!!
Dos
Dos
i've looked at the z4, but just cant fall in love with it.
i know these types of cars are totally impratical, which is the whole point! there isnt even any room for a swag! (dont know how i'm going to get around that)
i have wanted a z3 for so long its sort of like the pressy i get for hitting the milestone (100k a year) so i will be lend leasing it through my company.
ah silver grey
spider mag wheels
gps thingy
and a dancing elvis!
cheers
shaun
i know these types of cars are totally impratical, which is the whole point! there isnt even any room for a swag! (dont know how i'm going to get around that)
i have wanted a z3 for so long its sort of like the pressy i get for hitting the milestone (100k a year) so i will be lend leasing it through my company.
ah silver grey
spider mag wheels
gps thingy
and a dancing elvis!
cheers
shaun
Banging your head against a brick wall
I was working in Sydney with a woman aged 40 and we were both paid well but she had no assets and couldn't afford to buy in Sydney. I explained to her that with her salary, she could buy in Brisbane (this was about 4 years ago). "But I don't want to live in Brisbane" she said. I said "no, you don't have to live there - just buy it and rent it out. Get a foot in the real estate door and then when you have built up capital you can sell and do something in Sydney with the profit". The conversation continued and I showed her some properties in a Qld magazine I had that she could afford to buy. And then she said "But I don't want to live in Brisbane". I gave up and never mentioned it again.
I was working in Sydney with a woman aged 40 and we were both paid well but she had no assets and couldn't afford to buy in Sydney. I explained to her that with her salary, she could buy in Brisbane (this was about 4 years ago). "But I don't want to live in Brisbane" she said. I said "no, you don't have to live there - just buy it and rent it out. Get a foot in the real estate door and then when you have built up capital you can sell and do something in Sydney with the profit". The conversation continued and I showed her some properties in a Qld magazine I had that she could afford to buy. And then she said "But I don't want to live in Brisbane". I gave up and never mentioned it again.
What's with the waiting for inheritance?
Co-worker one:
Received $7,000 from a distant relative's estate. Didn't combine it with fhog to buy a property. Used it to pay debts from European holiday (including a $1500 phone bill racked on her mobile whilst in Europe (heard of a &*!#@ phonecard Einstein?).
Pays $320 a week to rent and has said the only way she will own property is if something happens to both her parents. She is only twenty seven!!!! (could be waiting a long time pet...at least I hope so as it means both of your parents are in good health)
Co-worker two:
Talked about selling house and using money from long service leave to buy a smaller place and another investment. Good for you I said. Nah, he thought about it and went to Europe and instead. After all when his parents pass on he will get 1/3 of their house. (he is only in his 30s)
There is a Blood sweat and tears song that says:
God Bless the Child that can stand up and say "I got my own"
God bless you all!!!
edit: Blood, Sweat and Tears did the version that I know but just discovered Billie Holiday (legend!) wrote it.
Co-worker one:
Received $7,000 from a distant relative's estate. Didn't combine it with fhog to buy a property. Used it to pay debts from European holiday (including a $1500 phone bill racked on her mobile whilst in Europe (heard of a &*!#@ phonecard Einstein?).
Pays $320 a week to rent and has said the only way she will own property is if something happens to both her parents. She is only twenty seven!!!! (could be waiting a long time pet...at least I hope so as it means both of your parents are in good health)
Co-worker two:
Talked about selling house and using money from long service leave to buy a smaller place and another investment. Good for you I said. Nah, he thought about it and went to Europe and instead. After all when his parents pass on he will get 1/3 of their house. (he is only in his 30s)
There is a Blood sweat and tears song that says:
God Bless the Child that can stand up and say "I got my own"
God bless you all!!!
edit: Blood, Sweat and Tears did the version that I know but just discovered Billie Holiday (legend!) wrote it.
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Maybe he has trouble getting over the fact that he can't drive his IP with the top down
wish-ga said:
I've let my parents know that I don't expect any inheritance whatsoever from them and that they should enjoy the fruits of their labour, rather than worrying about leaving it to any of us five offspring. Must be taking my advice seriously, as they are off on an 8 week European trip this year and have been eating out a lot lately at some pretty swish places
I've also told them about reverse mortgages and hope that they never go without simply to ensure we each get the "inheritance". We all are masters of our own destiny. Long live financial independence!!!!
I remember being told by people with car loans that borrowing for shares was crazy. They didn't understand that my investment had a chance of appreciating and some tax deductions whereas their's wa sheaded in only one direction.
This was from my young male employees who used to think it funny that the boss drove an old valiant to work whilst they had flash cars.....
This was from my young male employees who used to think it funny that the boss drove an old valiant to work whilst they had flash cars.....
Actually I just remembered what one of my relatives said on Boxing Day, when we were discussing the current market in Sydney:
"No, I'm not going to buy now as I'm waiting for prices to fall 30% and people get desperate to sell"
His theory is to wait until interest rates rise as there will be a mass dumping of good quality properties from desperate home buyers who suddenly can't afford the repayments, thus sending the market into a decline, with prices falling 30%. I asked him to let me know when it happens so that I can get some bargains too
"No, I'm not going to buy now as I'm waiting for prices to fall 30% and people get desperate to sell"
His theory is to wait until interest rates rise as there will be a mass dumping of good quality properties from desperate home buyers who suddenly can't afford the repayments, thus sending the market into a decline, with prices falling 30%. I asked him to let me know when it happens so that I can get some bargains too
Jacque said:"No, I'm not going to buy now as I'm waiting for prices to fall 30% and people get desperate to sell"
His theory is to wait until interest rates rise as there will be a mass dumping of good quality properties from desperate home buyers who suddenly can't afford the repayments, thus sending the market into a decline, with prices falling 30%. I asked him to let me know when it happens so that I can get some bargains too
Hey Jacque
I so get what you mean! This is what people are always saying to me, they are waiting for the market to drop or interest rates to rise so that they can come in and grab all the bargains! They have been saying this for 3 years during the boom!!
At least if you have been investing during this whole time, you know how to spot a bargain when you see one and move quickly! For people who havent been investing, I am sure it would be quite difficult to know just exactly what is a bargain and hence you would always be thinking maybe there is something better around.
Hi all.
I can recall (I was about 17 at the time), upon hearing from a good mate that he was going to buy a house, saying to him "why would you want to get a mortgage at your age", he was same age. Anyway, he didn't take my "good advice" and bought a place in Georges Hall (Sydney) which more than doubled within a few years. Over the years we fell out of touch but I had heard he was living on Scotland Island. By chance I bumped into him one day and asked was he still at Scotland Is. to which his reply was "no, I sold that and now have a place with views over Pittwater"
Wouldn't it be good to have the knowledge we have now back then.
Regards
Marty
I can recall (I was about 17 at the time), upon hearing from a good mate that he was going to buy a house, saying to him "why would you want to get a mortgage at your age", he was same age. Anyway, he didn't take my "good advice" and bought a place in Georges Hall (Sydney) which more than doubled within a few years. Over the years we fell out of touch but I had heard he was living on Scotland Island. By chance I bumped into him one day and asked was he still at Scotland Is. to which his reply was "no, I sold that and now have a place with views over Pittwater"
Wouldn't it be good to have the knowledge we have now back then.
Regards
Marty
I recently sold a property for a profit after a minor reno.
All I heard from anyone I told was 'won't you have to pay tax on that' - my reply was 'yes, I like paying more tax - it means I made more money'
The other one I hear all the time is 'I am waiting for the market to settle down a bit - the bubble will burst' this was in 2001.
Mike F
All I heard from anyone I told was 'won't you have to pay tax on that' - my reply was 'yes, I like paying more tax - it means I made more money'
The other one I hear all the time is 'I am waiting for the market to settle down a bit - the bubble will burst' this was in 2001.
Mike F
