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

[quiggles]

That's called an opportunity!

Any enterprising PMs who want to live in Canada?

Cheers,

Aceyducey

You're not kidding! The market is so thin there that a professional national firm of PM's could just about take it by storm. Same goes for a lot of North America. Of course, there's a lot of tightwads who like fixing toilets as well.

 

[geoffw]

You're not kidding! The market is so thin there that a professional national firm of PM's could just about take it by storm. Same goes for a lot of North America. Of course, there's a lot of tightwads who like fixing toilets as well.

A tightwad with a toilet- that sounds messy.

 

[The Y-man]

It is interesting when people say things like:
"Invest? Why would I want to invest? What would I do with the money?"

and then the next minute:

"Ohhh, I wish I had money to do <whatever>..."



Cheers,

The Y-man

 

[Oscar]

I still vividly remember a good friend (co worker) saying (as I just settled on my firts Sydney IP in Jan 1999), "what if there is a world wide recession and we enter into a prolonged period of deflation???" This guy was, and still is, very smart. I remember thinking about it for a few seconds and then tossed the thought into the waste basket as I would a used kleenex.

6 years on the plans for the Porsche Boxster are about to become a reality. And yes, what the heck, you do only live once, and what is the point of all this investing and money making if you don't indulge every now and then.

Cheers,

 

[likewow]

I still vividly remember a good friend (co worker) saying (as I just settled on my firts Sydney IP in Jan 1999), "what if there is a world wide recession and we enter into a prolonged period of deflation???" This guy was, and still is, very smart. I remember thinking about it for a few seconds and then tossed the thought into the waste basket as I would a used kleenex.

6 years on the plans for the Porsche Boxster are about to become a reality. And yes, what the heck, you do only live once, and what is the point of all this investing and money making if you don't indulge every now and then.

Cheers,

I agree wholeheartedly Oscar. Good on you.

 

[Francesco]

'I do not invest in shares or others because I lost my money on xxx before.' Prisoner of history complex. The person became expert in budgeting and relying on the Age pension.

 

[jjnshell]

parents

Top thread Acey,

I bought my first real investment when I was in grade 9 which was 2000 Suncorp shares on float. I remember at lunch time when I called my broker and discovered I had a nice little CG of a grand or so I was bouncing around the school like I was a billionaire. One of my good friends said to me "My dad lost money on the stock market. You'll do the same too"

How unfortunate is it that my friends parents experiences have probably set him back decades of investing experience.

I absoluty can't wait until my kids are old enought (1 and 3 at the moment) to start them on the way. Hopefully they will be at it sooner than I was.

Another good one is "It's ok for you, but I'm stupid" If you say so I reckon.

Jeff

 

[Marney]

Reason given by a 61 year old for not investing in real estate: "I'm too old to go broke."

 

[quiggles]

"But YOU were so lucky! I'm NEVER that lucky!"

 

[Corsa]

Over the weekend....

My friends boss is setting up a new franchise and getting some of his existing staff in another franchise to go over to help set up the new franchise. The comments some of the guys were saying "He is just loving it going around setting up all these franchises and he's rolling in it....", says another guy "Well you have to have money to make money...."

Another friend, just bought a car on finance for around $17,000 using equity built up in PPOR. Some of the guys were saying that she was silly for getting a car loan and her respsonse "you only live once" and "i will have paid it off in 2 years".

 

[Jacque]

"But YOU were so lucky! I'm NEVER that lucky!"

Ah, the old lucky argument. Luck, as far as I'm concerned goes hand in hand with action. Even the lotto winners had to make some effort to get to the newsagency

 

[<KS>]

heh

My parents use the luck one, they say its a fluke I am more well off than them - my dads an accountant so I have buckleys chance convincing him otherwise.

But my funnies I ever heard was along these lines:

"They can keep their money, who wants to be a rich anyway. People only like them for their $$?"

Good old fashioned spite.

<KS>

 

[luce.rocks]

" I don't need to invest because I have THE INHERITANCE"

My friend, who had just migrated from England.

I kindly had to explain to her that it is not in our custom to openly talk about such things. In her family, their inheritances were openly spoken about even by the people who it was from.

She was terribly embarassed because she couldnt work out why people at work used to give her strange looks when she spoke about her inheritance.

Mrs Bird

hi, sorry to bring an old thread to life again, but i saw a link to it, and as i was reading through i saw this post and i just had to ask if it's true? i mean, i've never actually heard someone talk about 'their inheritance' but i didn't know it was because of manners. i mean, i hear people talk about money, salary, investments, sometimes their parents' houses, etc, all the time, so i just kind of figured if people weren't talking about inheritances it was because they didn't have one? i know talking about money used to be crass, but people seem to do it all the time now. god knows if i had an inheritance and someone asked me about my financial plan for retirement or something, i wouldn't hesitate to say that there was a family trust or estate or whatever... anyways. can someone tell me what the done thing is? cheers

 

[sailor]

I guess there are a variety of reasons why people don't discuss their inheritance:

• talking about it might put a hex on the person bestowing and they might die sooner
• it could be seen as impolite to discuss inheritances
• if one expects an inheritance, the person bestowing might bring them down to size by cutting them out of the will
• it could be seen as bragging
• siblings might get jealous

...and there are bound to be others.

 

[lizzie]

i loved reading the excuses. the two best i heard were:

what are you buying this old dump for? (reno'd and made $100k profit in 12 months).

tenants will wreck the place. (this from someone who'd made good money out of ip's but had one bad tenant and sold the lot).

 

[Bantam Roosta]

can someone tell me what the done thing is? cheers

I believe it comes from the fact that you don't get an inheritance until they die. You are effectively saying, 'When my parents/uncle/aunt die......'. It could be construed that you are hanging out for them to die.

I don't talk about it because although I know I'm getting something from my parents, I have no idea how much. They could lose the lot between now and when they die and I've gone and planned my future lifestyle around relying on them to leave me x amount. Dangerous stuff.

BR

 

[DavidMc]

"But properties aren't cheap anymore like when YOU bought them".

My favourite - "I don't believe in property investing". I think it's because he thought it was immoral, makings others pay more for their houses.

 

[AmandaBS]

Funny thing is my parents do the "Why are you buying all these houses when one day you'll have all this!!!"
I'm not prepared to drift through life waiting for some inheritance to save me when I'll probably be to old to enjoy it. Hey I want a BMW (cerise pink of course) before I need a blue rinse!

Another classic is "Oh I don't have that much ambition in life so I intend to spend/enjoy the lot now"

 

[Tikor]

I have a mate who kept emailing me dire stories about Peak Oil, and asking me if he should sell his IPs: "after all when the oil price skyrockets, the economy will crash and property will be worthless." I suppose he's right. We'll all have to move out of our houses and go live in cardboard boxes. I haven't heard from him since I made that suggestion.

 

[Petal]

Mostly we get the "you are lucky you bought yours before the (2003) boom) This from exactly the same people we tried and tried and tried to convice to buy a couple (which they had the means to do) in 2001!!!!