If you could send a message back to yourself as a kid,what would you say?.

Discussion in 'Investor Psychology & Mindset' started by willair, 6th Feb, 2020.

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  1. willair

    willair Well-Known Member Premium Member

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    Strange the way one thinks when it's been raining constant for the past 24 hours..

    So what message would you send back to yourself?..

    Myself as i don't know,as there would be no social media back then to affect a person self-esteem ..

    The only message would be the apocalypse that was always talked about during the 1970's then the world was going to end in 1984 again in the complete shut-down in 2000 never happened ,just stay happy and live each day as it's your last..
     
  2. Ross Forrester

    Ross Forrester Perth business advisor and founder

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    Buy bitcoin as soon as you hear about it. Sell it all for 18k a piece.
     
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  3. EK01

    EK01 Well-Known Member

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    Don't let fear dictate your actions (well, not all the time at least)
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

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    And then put all that in Tesla shares
     
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  5. gerege

    gerege Well-Known Member

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    Don’t get a job at 13 and waste the prime time of your life stuck in a shop for $8 an hour, money will come in the future but working like a dog you’re whole teenage years won’t put you far enough ahead that it’s worth wasting that time.

    Buy csl
     
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  6. Phar Lap

    Phar Lap Well-Known Member

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    Dont smoke.
    If you were meant to smoke, you'd have a chimney!
     
  7. KayTea

    KayTea Well-Known Member

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    Learn about investing in your 20's rather than your 40's (another 20 years of compounding would have done wonders).
     
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  8. Fargo

    Fargo Well-Known Member

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    Don't leave it so long to change accountant or to get SMSF. All that money paid in tax, and earning nothing, with 40 years of compounding would be $millions now. Don't listen to financial advisors. It is not what you earn that counts but what you do with it. And to listen to my old man when he says " never let a chance go by"
     
  9. Morgs

    Morgs Well-Known Member Business Member

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    Wouldn't matter what I sent back... I wouldn't have listened to it :p
     
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  10. datto

    datto Well-Known Member

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    That funny smell from the neighbour's house is wacky tobacky and it's worth heaps! At first opportunity get in there and stash it all in your backyard shed. They're gonna get raided soon so hurry lol.
     
  11. Perthguy

    Perthguy Well-Known Member

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    Your teens were the prime time of your life? I hated my teens. For me, I have had more fun in the past 10 years than my entire teens and 20's.
     
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  12. Perthguy

    Perthguy Well-Known Member

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    I'm guessing here because I don't follow it but buy Apple, Amazon and CSL? I'm not sure

    But really, if I had started buying VAS early on and tipped in a decent amount every year, I would be a millionaire.

    A $10,000 Investment in 1989 in Australian Shares would be worth $146,337. Imagine doing that for 30 years? Rich!

    Australian Shares Performance in the Last 30 Years | Canstar

    That's the advice I would give my young self :)
     
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  13. Blueskies

    Blueskies Well-Known Member

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    If we are talking financial advice from the future and going for maximum gains you wouldn't muck around with Australian equities or Bitcoin etc you would want information on the largest most liquid markets in the world. In equities as your trade sizes increased they would start to need to be disclosed as you reached larger and larger stakes in the companies you were investing. Eventually this would start to distort the market which could end up changing the timeline from which your future self sent the advice, making the tips less and less reliable.

    A better option would be if the message was a USB containing as much daily currency market data as possible. Forex trading volumes are something like $6 trillion per day, you could continuously trade that market over the course of those years taking positions that didn't move the market significantly. You could probably get a few trillion dollars this way.

    That would probably be enough, unless world domination was your goal, then you would also want information on the world's largest resource deposits so you could put your trillions to work acquiring the mining tenements on these before they were discovered by others. Once you had a monopoly on the world's resources you would pretty much have complete control and money would become less relevant.

    Also I would tell myself to be happy #YOLO
     
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  14. significance

    significance Well-Known Member

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    Life gets better. Hang in there.
     
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  15. MWI

    MWI Well-Known Member

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    Don't worry what others will say about you.
    Life is unfair so get used to it and embrace change, be tough and have courage!
    Live every day as if it was your last so dream BIG and go for it!
    Be kind and Love one another too!
     
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  16. SeafordSunshine

    SeafordSunshine Well-Known Member

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    MMM I'm really old and about to buy my second sports car...
    I would say to my young self Every time you want need a car.. buy a sports car!
    BRRRM
     
  17. Scott No Mates

    Scott No Mates Well-Known Member

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    Don't sell that block of dirt in the Druie, one day it'll be worth millions (and the rent will still be [email protected]).

    Maybe I shouldn't listen to my own advice. :rolleyes:
     
    Last edited: 9th Feb, 2020
  18. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    hold on to the innocent joy of youth, while balancing that with the opportunities of whats available to you out there in the future, and pray for the wisdom of discernment as to what you let in.

    Life is meant to be a great adventure, otherwise its probably not much at all ?

    ta
    rolf
     
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  19. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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    Just ask out Tanya Toker from year 6! Just do it!
     
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  20. TMNT

    TMNT Well-Known Member

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    Dont Marry your Ex-Wife!!!
     
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