What's the funniest/worst excuse you've heard for NOT investing from people?

I also read it (just the first bit, read it again and thought "what a shame, you have just done the lovely beach house".

When I read further, I realised you were talking about someone else :)

Wylie
 
My work mate said "Investing is just another word for gambling."

I tried to explain the difference between the two but he wouldn't accept my argument. Surprisingly he is actually making money playing poker. He is very solid, consistent and plays very calculatively. However he doesn't make any where near to what I make in a year with shares. I just think of what he could accomplish if he focused more on investing. He would easily out do me.
 
mmm poker is fun, but i still have lots to learn myself .. but as long as you play odds, have rakeback and play bonuses its not too difficult to be a long term winner ;)

so i guess it is kinda like investing if you play with the odds on your side ...
 
Originally Posted by crazylikeafox
"you're too young, don't put too much pressure on yourself"
Not entirely bad advice, just annoying. As If I hadn't thought of that myself!


Bad advice, if you ask me. The problem is that if you DON'T manage your finances when you're young, you're more likely to develop those nasty money habits that screw you up for life. Ask any person looking for their first home whether they wish they'd 'put more pressure' on themselves when they were younger. I sure don't regret it.
Alex
 
the one i hear, is
debt is bad, i'm not going down that road!and this is from my parents/family.
since then they've seen my bank balance, and still tell me that getting into debt is bad!
sigh,,, you just cant teach someone who doesnt want to learn.
oh well, when i get my z3 bmw at the end of this year it may change their tune.

shaun

I doubt it Shaun. They will probably just say you were "lucky".
 
Thats really sad.

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
Thats so sad.
 
Our friends want to invest now!

My favourite is "the market is too high/ could go lower/ moving too fast", etc (take your pick).

For some, procrastination is a terminal disease. ;)

Its funny, we have bought all our properties at the bottom of the market. My angle is simple, buy when no one else is. The first investment property we bought was in 2004, pretty much just before things started to take off in Melbourne again. We got it for less than the rates valuation. At the time our non investor friends said its the wrong time the market is crashing,Boy were they wrong, and now they want to invest when the market is booming again, I dont get it at all.
We bought land early 2000. A year before the first home builders grant was introduced. We bought in an outer western suburb, our yuppy friends laughed at us and wondered why, one quote was I would never live out this far, (that person actually rented a property off us in the same suburb years later), thought that was funny, any way what I am trying to say at the time our friends thought we we mad to buy to build, as the GST had just been introduced, land was worth nothing because of the higher cost of building, and because of the newly introduced first homebuyers grant for established homes thats where the market was. Ha, Ha, we go to build after a year, after paying the 75'000 block off, (now worth $300,000) put down our initiall deposit for a house at a cost that would jump 20% the following week to build, because that following week the first home builders grant was introduced, so the builders more than factored that in to raise the prices, needless to say not only did we get the grant, but the house 20% cheaper than what it would have been had we signed a week later. This happened because we chose to go against the crowd, use our intuition, not wait to just see what happens, and take a risk.
 
Isn't it interesting when, whenever you buy something, there is someone close by saying: "don't buy now; it's not the right time".

Luckily I'm very deaf.

What?
 
Isn't it interesting when, whenever you buy something, there is someone close by saying: "don't buy now; it's not the right time".

Luckily I'm very deaf.

What?

What? I can't hear you LAA, you are a long way away!

A variation to that theme is one where friends are looking and mind you have properties, (but being priced out of the area they are looking in), and they know you have just bought. The reaction can be a little more negative than those who don't have properties. It stunned me to be honest. I know what not to bring up in conversation again.

In trhis scenario, one of them knew I was going to an auction from a few weeks before the day, however, at the time, I was pretty sure, I wouldn't be able to purchase it, so had no issue with telling them. As you would to friends that you are supposedly close with. Lessons learnt however. I'll keep my trap shut in the future. I'll use this forum to express myself/vent!
 
I worked with a lady once who told me she had never invested because, and I quote:

"When you invest money, you've got to give away half of everything you make to the government as tax".

I thought I had imagined it, but some time later we were doing the whole 'what would you do if you won the lotto' thing and she came up with:

"The best thing to do with any cash windfall is to spend it as quickly as possible, that way the government doesn't see a cent of it".

You probably think I'm making this up and I don't blame you for thinking that. The sad thing is I reckon a fairly significant portion of the population is this stupid.
 
And the one that is going around at the moment non stop

House prices will go down by 40% in april... march.. xxx next year i will buy then
 
And the one that is going around at the moment non stop
House prices will go down by 40% in april... march.. xxx next year i will buy then
Good grief...now I've heard everything. Obviously these people don't research, don't look at history and don't ask questions. How naive is that?
 
Here is a classic...(I can't believe he actually said this)...

"The prices are going up!!!":confused:

I almost fell of my chair...:D:D:D

Can't buy because house prices are going up

And the one that is going around at the moment non stop

House prices will go down by 40% in april... march.. xxx next year i will buy then

Can't buy because house prices will go down....

Just waiting for the trifecta to come in now.....can't but now because the market is flat...anyone....anyone....:rolleyes:
 
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