Maybe... Or maybe not? Something I saw on Facebook

Discussion in 'Investor Psychology & Mindset' started by Gockie, 5th Mar, 2017.

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  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    Saw this on Facebook....
    image.jpeg

    Now imo the image shows how the majority think....


    However I want to be living off passive income well before normal retirement age. I would be quite happy for the money to roll in without effort. It does mean years of effort and forward thinking upfront though... But much much better than living week to week earning a dollar by doing actual labour!
    Rich Dad, Poor Dad. Passive cashflow etc.....

    I don't believe in a God either, by the way.
     
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  2. Marg4000

    Marg4000 Well-Known Member

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    Well, I like it. And certainly true.

    You will certainly get money if you worked last week. That's how most people live, save and get ahead.

    I don't know anyone who ever got money by typing "amen" and sharing unless you are like harvesting for profit.

    Sure, it's great to be living off passive income! We are.

    But before you get to that point, most people HAVE to "earn a dollar by doing actual labour" either physical or intellectual. We did.

    Unless you sponge off a wealthy family and inherit, how else do you get the assets to generate passive income unless you work for it??
    Marg
     
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  3. jins13

    jins13 Well-Known Member

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    Hard work and forward planning. Even when I was behind the eight ball, I didn't give up on my goals.

    If you think working 9 to 5 is going to get you closer to your goal, go ahead and see what happens when the gap gets even bigger.

    BTW, not a fan of "Rich Dad, Poor Dad" who I view as a con-artist who provides bogus advice to people.
     
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  4. Angel

    Angel Well-Known Member

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    I assume the meme is a send up of the "name it and claim it" brigade.
     
  5. Gockie

    Gockie Life is good ☺️ Premium Member

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    Do you have an example of that? Cause I'm clueless.
     
  6. Gockie

    Gockie Life is good ☺️ Premium Member

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    Yep.
    I wouldn't call him that... His books are an eye opener. You can see they are quite simplistic, nothing fancy but they do get the brain to think and ponder. You can't get rich by just saving. Nothing wrong with teaching that!
     
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    if our previous to current financial education and Superannuation worked so well, why do 98 % of retirees live on less than 40 000 pa ?

    ta
    rolf
     
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  8. jins13

    jins13 Well-Known Member

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    Why would I take advice from someone that's accomplished nothing but the "Rich Dad, Poor Dad" products and is a failed businessman? Almost like taking advice in "Richest man from Bablyon" on taking advice from a brick maker about jewels. Also, any decent accountants can see that some of the ideas he recommends are illegal.
     
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  9. Angel

    Angel Well-Known Member

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    It's in relation to the Christian groups who send around all kinds of little sayings and they type Amen and pass it on. Among the various groups there is a leaning who believe that you can use God to make you rich. They are the brunt of jokes from many people, especially other Christian groups.

    For a pleasant afternoon of Christian humour, try Babylon Bee, a satirical newspaper in the same vein as Australia's Beetoota Advocate. Of course one would have to have some exposure to all the various bizarre customs of conservative Christian groups to understand this humour and what is being satirised.

    The Babylon Bee | Your Trusted Source For Christian News Satire.
     
  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    Fair enough! Similar to some of the beliefs one my Indian colleague has shared in my team I just need shut my mouth.... for example she says god like person X has been living 10,000 years.... Ummm... yeah.... ok...
     
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  11. Gypsyblood

    Gypsyblood Well-Known Member

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    Love your signature! Stealing!
     
  12. Joynz

    Joynz Well-Known Member

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    Well, working 9-5 (and longer) is exactly how I bought and paid off my first house.

    It's also why I'll be fine when the interest only loan period on my IP expires because I have a lot in the offset - due to wages.
     
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  13. Scott No Mates

    Scott No Mates Well-Known Member

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    Could it be because the top 2% hold the wealth?

    Failure to plan is planning to fail.
     
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  14. Sackie

    Sackie Well-Known Member

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    Personally ( my own belief and according to King Solomon ) I believe one of the secrets to receiving is first giving with an open and sincere hand .
     
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  15. KayTea

    KayTea Well-Known Member

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    And that is why PC is so successful. I think, regardless of any sort of religious or spiritual affiliation (or not), this place is full of people who are willing to give of their time and expertise, so that we all can benefit. I never fail to be amazed at the willingness of people in here to share.
     
  16. MTR

    MTR Well-Known Member

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    I like this quote


    “From what we get, we can make a living; what we give, however, makes a life.” ~ Arthur Ashe
     
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  17. hobartchic

    hobartchic Well-Known Member

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  18. hobartchic

    hobartchic Well-Known Member

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    I believe the quote is that it is more blessed to give than receive. Whether giving denotes financial success is a whole other argument. Does it give life joy? I think so, and that it a type of success.
     
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  19. Melmac

    Melmac Well-Known Member

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    really curious to know who this X person is?
     
  20. geoffw

    geoffw Moderator Staff Member

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    That wasn't a bankruptcy through financial incompetence. There was a dispute between two companies because one claimed that they weren't getting the agreed proportion of speaking fees. One company sued the other and got a $24m settlement. The company being sued declared bankruptcy with $1.8m assets. So it wasn't incompetence, it was really dodgy and intentional.
     
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