Are we really this rare?

Discussion in 'Investor Psychology & Mindset' started by jaybean, 31st Jul, 2015.

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  1. chylld

    chylld Well-Known Member

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    Wish I could like this post more than once!

    That's the best thing about PC. We all understand that we are all at different points on our IP journeys and we share advice to collectively push ourselves along the right path.

    I was at a family gathering last year when someone accidentally let slip that they had one IP. Their 8th grade son was shocked! "We have an investment property!! Where?? Are there people living in it!?" (turns out they were trying to keep it a secret, even from him)
     
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  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    C-mac, where do you work?
     
  3. Sackie

    Sackie Well-Known Member

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    Yeah I'd love to know that too @C-mac . Most of the places I've worked all I hear are whinges, negativism, pessimism, abrogating responsibility, cup half empty folks. No one use to bother gossiping and projecting their negativity to me at work because they knew I would cut them off and politely decline to hear gossip. And these are supposed to be some of our finest thinkers and well respected professionals.....:eek: I don't think so.
     
    Last edited: 28th Aug, 2015
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  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    @C-mac, you may get a lot more ambitious, driven people applying for employment at your workplace... :p
     
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  5. Bayview

    Bayview Well-Known Member

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    Bzzzt; wrong!

    When we had 5 IP's, I made sure my then 8 year old son knew about it for 2 reasons;
    1. So he could get the mindset early in life hopefully. ;)
    2. So he could go to his school, tell all his friends that we have 5 IP's, and they would tell their parents, and I could have a humble brag and be a poser. :p
     
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  6. chylld

    chylld Well-Known Member

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    My friend's son was having trouble fitting in with the 'rich' kids at his private school... can't help but think that his excitement was some form of relief, "finally I can tell them I'm rich too!"
     
  7. skater

    skater Well-Known Member

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    Our kids knew about our IPs right from day one. There was no way to hide it (even if we wanted to) since they came along to the auction of the first one & helped at a few reno's. It was funny when Lil told her teacher at school that we had ' won' a house on the weekend. We had to explain that we didn't win it, we still had to pay for it. Bragging rights never came into it, and I'm sure that at times the properties were a source of embarrassment to them.
    LOL! It all depends on how it is viewed. One of our kids was in High School (so not a little one at this stage), and told us how 'rich' another student was. It turns out they were rich because they lived in a bigger, better house than us, and they had a ' Hotrod". Hmmmm they were renting, sharing the cost with the extended family, while we owned a PPOR and maybe 12 or si IP's at the time.
     
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  8. chylld

    chylld Well-Known Member

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    Interesting view... the reverse of which I've kinda seen with one of my friends... who assumed that I must be right on the edge of my budget (or past it) as one of my cars is relatively pretty. Buying our latest PPOR they asked "So do you have to sell the car now?" .... o_O
     
  9. spludgey

    spludgey Well-Known Member

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    Everyone you'll ever meet knows something that you don't.
     
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  10. chylld

    chylld Well-Known Member

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    I can count to potato
     
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  11. C-mac

    C-mac Well-Known Member

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    Hi guys,

    I work in digital media advertising. Might not seem like it, but so many of the planning, managing, due diligence and overall 'questioning everything' skillsets that are vital in my line of work, are so immediately transferrable to IP.

    Combine this with the more yoounger hungrier, go-getter mentality of the media industry in general, and you get people who start to really showcase their ambitions to be self-sufficient and enjoying a life not ball-and-chained to an office desk.

    See, as much as media is 'exciting, dynamic, fast-paced', it equally burns people out quickly. Hence the relatively high churn in the industry. Hell, I am only 33 and I"m getting to be a bit of a dinosaur in the place!

    There is no way i could do this job into my 40's and I think many have the similar mindset who work in it. Hence the hungry interest and 'lean-forward' attitudes of my colleagues when the topic comes up.
     
  12. Bayview

    Bayview Well-Known Member

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    Um; guys; I was takin the pizz...relax.
     
  13. larrylarry

    larrylarry Well-Known Member

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    Since joining SS late and PC recently, my young kids would find me on PC forum. Great opportunity to tell them my discovery and explain what investments are. So when dad is using Internet he's on PC and emailing his mentor and doing spreadsheets. I think that's kinda nerdy but cool.
     
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  14. bob shovel

    bob shovel Well-Known Member

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    I had an ex who worked in advertising (print buyer i think it was) and you are getting to dinosaur age unless your kidneys are still functioning and still enjoy eating 2 minute noodles! It's a very addictive industry for a young kid starting out with the perks and "relaxed l atmosphere. It was not for me though! I remember telling some one i was "ex's bf" and when i said i didn't work in media she pretty much stuck her nose up and walked away! Charming lady. Meanwhile iwas earning double what they were and not required our of work hours
     
  15. C-mac

    C-mac Well-Known Member

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    I enjoy my career in media, I really do. I am just mindful that it isnt 'forever', but simply a career that I can enjoy, earn a decent salary, and still find time around it to further my PI career with :)
     
  16. Beelzebub

    Beelzebub Well-Known Member

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    Rich is certainly a relative word, particularly with younger adolescence. One thing I always like asking my year 7s, 8s and 9s is: Where do rich people live? They never say Brighton or Toorak (as they live in the Hoppers Crossing area) I almost always get "Tarneit": an outer suburb of Melbourne with big houses.

    I always find this interesting and reflect on the impact their sheltered background might have on their aspirations and ambitions in life.
     
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  17. Azazel

    Azazel Well-Known Member

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    Similar here, I guess working with the internet gives me plenty of time to use my net skills to research property as well.
     
    Last edited: 29th Aug, 2015
  18. Francesco

    Francesco Well-Known Member

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    [​IMG]
     
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  19. See Change

    See Change Well-Known Member

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    Ditto . We have four in our names and the rest are in super or trusts . In numbers they make up less than 25 % of our portfolio , but make close to 50 % of the value .

    But I still think it's pretty uncommon . Outside PC and somersoft I've only met one person who has more than 5-6 properties , and he went bankrupt during the GFC when his commercial property portfolio was rolled up by a bank , the trigger being a request for more equity input despite never missing a payment ....

    Cliff
     
  20. skater

    skater Well-Known Member

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    Nasty! Which Bank did that? And what was their reason?