People listen to this bloke?

Discussion in 'Property Experts' started by Greyghost, 27th Jul, 2016.

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  1. Phase2

    Phase2 Well-Known Member

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    Are you planning on buying your own island? Or just kicking back somewhere like the Carribean?

    I can't think of a more ridiculous idea for an app, <sigh> I guess that's why I still have a day job. Stupid Pokemon..
     
  2. wobbycarly

    wobbycarly Well-Known Member

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    Agree with you on the super thing, but the for the great unwashed, once it's in there, they can't touch it! (other than exceptional circumstances, of course.) And what investment would they make otherwise...?
     
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  3. hammer

    hammer Well-Known Member

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    His advice was life-changing for me. Just good simple no BS tips.

    Yes, he is conservative but if you were to follow his advice you would be fine.

    No, you wouldn't be retired, sipping pina colladas at 45 ....but you wouldn't be destitute either. What you would be is far better off than 95 percent of the population.

    I like him. His heart is in the right place and he genuinely cares about others well-being.

    Something that can't be said for most financial "gurus" out there.

    I think the country is a better place because of people like Scott Pape.
     
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  4. Username86

    Username86 Well-Known Member

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    Agreed...
     
  5. Journeyman

    Journeyman Well-Known Member

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    I get his blog. I take it as one view. I was widely read on wealth creation as a teenager. I dont embrace everything said by everyone, I take the parts that ring true, or the parts that experience has shown seem to be right. I think one point to make is that people on the fringe in the greenfields of investing are the ones who have massive growth. I think you have to get in whilst something is new, and frankly the rules are unclear.

    Its a well worn path to buy and hold property for rent to deliver a passive income stream over 20+ years. Nothing wrong with it, I do that too.
     
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  6. Azazel

    Azazel Well-Known Member

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    I don't understand why someone that young would want to put more money into super, especially given the government could change the rules - and keep increasing the retirement age.
     
  7. hammer

    hammer Well-Known Member

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    Super is only part of his strategy. He also says to buy solid LICs and keep 6 months worth of cash in the bank.

    It's certainly a conservative strategy....but it does work. He acknowledges this in his writings.
     
  8. Greyghost

    Greyghost Well-Known Member

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    Exactly!
     
  9. Bunlee

    Bunlee Well-Known Member

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    I have been subscribing to his newsletters for a while.

    His approach is quite simplistic in terms of the general level of financial sophistication on this site, ie, Property Chat.

    At the end of the financial year he is quite active in promoting his Barefoot BluePrint which is a paid service. Of course, he is running a business.

    Notwithstanding, his broad position on issues would benefit a significant number of the general population that are financially challenged.

    Reading his blogs and newsletters has help me significantly over the last few years. In particular I like his approach to;

    - Investing in low cost LICs
    - Understandng the importance of Super in attaining long term goals
    - highlighting the financial danger in chasing the 'quick buck'
    - the concept of having money allocated to a Mojo account and the Grow buckets

    I don't profess to have the financial sophistication of most here and am very open to admit that I have adopted some of his concepts and they have made my financial life much more simple and more in perspective.

    I like his writing style which he appears to use as his point of difference in the market as well as his distaste for complicated products.

    His advice is not for everyone, nor does he appear to suggest this.

    All in all, he does no harm and gives food for thought as well as mapping out a very conservative approach to personal finance.

    Best to all
     
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  10. albanga

    albanga Well-Known Member

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    Great post @Bunlee
    Whilst I don't agree with him I do think he reaches a larger audience that most certainly should only try conservative investing and to that I would say he does a good job.

    Just remember for every PC investor there are 10 who are terrible with money and if he reaches even 1 in 100 and changes bad money habits then it's a job well done.
     
  11. The Falcon

    The Falcon Well-Known Member

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    Agree that there is nothing wrong with Scott Pape in general with regards to his message and approach. Compared to the hoards of property spruikers this man is doing a national service. If people want to lever up into resi property than that's their business. His advice will stop you blowing yourself up which is the first rule of investing and overlooked by very many.
     
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  12. Azazel

    Azazel Well-Known Member

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    He might not be able to access that super money until he's 80 at this rate.
     
  13. Fargo

    Fargo Well-Known Member

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    May be so, but he has made very astute lifestyle property investments more than 3 years ago with the purchase of large acreage of land north ofMelbourne
     
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  14. Ted Varrick

    Ted Varrick Well-Known Member

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    Conservative advice is probably good for those who aren't too experienced in the dark arts of investment, and LICs and ETFs are probably a lot better than getting a margin loan for mining and bank stocks to profit from the spread on the dividend.

    I think Scott Pape's general advice is a reasonable thing for a particular market sector, and there's no reasons why he should not be able to earn a living from it, however once those investors get more educated, and gain more experience (and battle scars from ugly losses and stupid decisions...), they should be grateful for some of the initial stepping stones, and I assume that there have been numerous, that they have had the opportunity to experience.

    Disclaimer: I thought Scott Pape's program on Channel 10 was sort of cool, but I have no association with him, his business, or his foot fashion, for that matter....
     
  15. sanj

    sanj Well-Known Member Premium Member

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    some of the savviest and most financially successful people I know heavily utilise their smsf and would probably consider those who either wilfully ignored it's benefits or who despite decades of investing could not afford to have decent sums both in and out of super to be closer definitions of.the great unwashed than them.
     
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  16. sanj

    sanj Well-Known Member Premium Member

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    a friend of mine, early 30s, had long ignored his super, which turns out had over 80k in there from a few decent years in the oil and gas industry. he started to look at it, got an smsf snd I believe has around 125k in there in less than 2 years. it has involved not all that much effort. If he keeps this up I'd expect him to be in the millions well before retirement age, plus he has investments outside super too.


    anyone ignoring super is a far greater fool than someone trying to make it work.
     
  17. BB5

    BB5 Well-Known Member

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    My girlfriend has built up a substantial Share portfolio from following Scott Pape a few years back and had multiple shares more than double in value in the last couple of years all whilst getting paid dividends.

    A much better result than the many paying a dollar to save 40 cents on their tax in dodgy investments.
     
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  18. HomePage

    HomePage Well-Known Member

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    I subscribe to Scott's free newsletter and I reckon he gives out pretty good financial advice for the average Joe.
     
  19. wobbycarly

    wobbycarly Well-Known Member

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    As long as the rules don't change too much - not holding my breathe ;-)
     
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  20. Azazel

    Azazel Well-Known Member

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    Me either.
    Would much prefer to be in control of where my investments go.