Fortune favours the brave...

Discussion in 'Investor Psychology & Mindset' started by hammer, 22nd Mar, 2017.

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  1. hammer

    hammer Well-Known Member

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    Anyone here followed their gut instinct and put it all on the line?

    Gone all in on a property/business when everyone said you were nuts?

    Did it work out in your favour or set you back a few years?

    Were the sleepless nights worth it?
     
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  2. Xenia

    Xenia Well-Known Member

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    This is how I live my life.

    When the masses are getting into something because they've just woken up to an idea by following the herd, it's time to do the complete opposite.

    Never ask for permission
     
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  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Yes.

    I quit my job the day my development finance was approved to move states to start my agency business from scratch.

    I believed so strongly that Adelaide needed a new type of PM agency that I just had to go for it. In hindsight I'm glad I did and have no regrets.
     
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  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    First airbnb I thought could have been a risk.... what if there wasn't the demand? But it was great!

    But I suppose it wasn't a huge gamble though. Just had to get the place furnished, buy linen and towels and organise electricity and wifi etc....
    Tackled everything else as the need arises.
     
  5. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Starting my own business was a challenge and it did set us back financially for quite a few years. It was well worth it in the long run however.

    It's also a huge risk. Many people starting a business fail, don't get any reward, often coming out with additional debt.
     
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  6. Biz

    Biz Well-Known Member

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    Yes, when I started my business. Everyone thought I was mad, not even my wife agreed but I did it anyway. Took a year or two to start seeing some results but now way ahead because of it.

    I wouldn't say I was throwing it all in as what it cost to start was probably about 20% of our net worth at the time but it's a risk none the less. To be honest I think losing face to people if I had failed would have hurt more than the financial loss.
     
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  7. Perthguy

    Perthguy Well-Known Member

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    Yes I have and people said I was crazy. Mine was property. I put everything I didn't have on the line. No sleepless nights though. I don't do that. It worked out well. Didn't quite double in value in 9 years but came close.
     
  8. Propagate

    Propagate Well-Known Member

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    10 Years ago we both quit our well paying, long term jobs, packed the house up into a container set for the high seas, cashed in whatever we could and said good bye to our friends and family in the UK.

    We spent a good chunk of our life savings on couple of months travelling across the USA & South America whilst we had the opportunity and freedom from work. We were 30 & 34 at the time.

    Most of our friends thought we were nuts and said "see you in 6 months when you get back".

    Our parents thought it was awesome and gave us their blessings and a few older friends said "wish we'd done it years ago".

    10 years later, we've been Aussie citizens for the last 6 years and I have not set foot back in the UK since we left in September 2007.

    Friends at the time thought we were mad when they asked why we were "throwing our lives in the UK away" when the best answer we could really give them was we were a bit bored and fancied an adventure, and what an adventure it's been and we're vastly better off for doing it, not just in terms of wealth (was sure tough at the beginning effectively starting again) but we've had opportunities and experiences along the way that could not have been bought.

    Looking back, all our friends that thought we were mad are just plodding away, same old same old which is EXACTLY the reason reason we went for it. When push came to shove and the day came we had to decide go or stay, the over whelming factor for the go vote was not wanting to look back in 10 years and still be on the same treadmill thinking "what if".

    I'm not saying they are not happy in their lives, but to be honest, if I was still in the same routine now at "home" in the UK as I was 10 years ago it would feel like nothing more than simply existing. Where's the fun and adventure in that?
     
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  9. datto

    datto Well-Known Member

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    Request permission to laugh :) (that's a grin only)
     
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  10. Ace in the Hole

    Ace in the Hole Well-Known Member

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    I think I went all in quite a few times when much younger, but it wasn't really that much to lose, couple years savings at most.
    Then when I was least expecting to strike it rich, everything worked out for us with a very minimal outlay.
    Became a millionaire from nothing in a couple of years, this was 10 years ago now.
    I think the less pressure you put on yourself, the better off you'll do, as long as you still put in a solid effort.
    Extra pressure helps nobody.
     
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  11. Xenia

    Xenia Well-Known Member

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    The louder the better.

    Laughing increases your sex drive.





    Btw I made that up ;)
     
  12. Sonamic

    Sonamic Well-Known Member

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    Laughing and smiling increases your sex appeal.
     
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  13. Xenia

    Xenia Well-Known Member

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    It does indeed :)