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What keeps you motivated?

Discussion in 'Investor Psychology' started by Leo2413, 2nd Feb, 2016.

  1. Leo2413

    Leo2413 Well-Known Member Premium Member

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    My partner and I were recently discussing what keeps us motivated and I guess the top couple of things that we came up with are:


    1. We thoroughly enjoy what we are doing most days.

    2. We see the results from our hard work and know that it pays off.

    3. We enjoy the feelings/emotions of actually being good at something (at least we feel we are) and that continues to motivate us to keep going.


    So what motivates you guys to keep going?
     
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  2. Paterson00

    Paterson00 Well-Known Member

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    Going to work, not seeing my kids for most of the month, seeing people i know traveling the world and living great lives, getting older. I have a million reasons to keep going so i don't find it hard to stay motivated but there are times you are tempted to jack the lot, draw the savings out, have some fun and enjoy some of the fruits of our hard work but i know I'll be back to square one of we do that and I'm never going there again.

    We are improving our life all the time although only very slightly because we are working towards the goals and saving like crazy.

    If i do catch myself becoming dispondent with it all I listen to the audio of Rich dad poor dad or bust out some Tony Robbins or similar. That rarely happens though as i have these in my music collection so i get them pop up every fifth song or so reading a chapter etc. Gives me a little zest to carry on, push harder.

    Returning to your goals / dreams also helps. Looking through gumtree at the big boats i want, the houses i want and travel websites of places i want to visit. These all pop up in my Facebook news feed etc so I'm rarely without inspiration.
     
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  3. Bran

    Bran Well-Known Member

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    No idea.
    Perhaps the thought of seeing some results, at some stage.
     
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  4. 4point5million

    4point5million Well-Known Member

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    The possibility that death might be a few seconds away
     
  5. Perthguy

    Perthguy Well-Known Member

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    It's how I like to spend my time. I find it a huge challenge to find the right deal to make money and then make the most of a property I buy. I don't really have anything I would rather spend my money on, so that makes it easy.
     
  6. Adele

    Adele Well-Known Member

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    1. Wanting the best for my kids' future.
    2. Knowledge that at any given point I might lose my job or income.
     
  7. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Yes, agree.

    Also love learning, growing, seeing what I can do. It's amazing what you're capable of when you're willing to have a shot.
     
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  8. bob shovel

    bob shovel Well-Known Member

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    Sticking it to parents/in-laws that think it's ridiculous!
    Plus seeing their old school attitudes keeping them working and family friends passing away before they even get to retire, let alone people similar ages passing away from cancer etc. F*$£ that! Live life and stop working for the man ASAP!

    And it's fun! :) Learning new skills and shopping around etc etc also chatting to stranger's on internet forums who seem really smart and offer so much help and positivity!
     
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  9. Bran

    Bran Well-Known Member

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    I'm struggling tonight

    Just plugged the numbers for the dud IP. It's enough that I'm baulking on my next purchase in case I fudge it up again. (Cost me 15k to hold for last financial year (again) with zero growth. I wish I'd had the time over the last decade to realise how much it was costing me). It's gotta go.

    It's bad enough that I'm baulking at my next buy
     
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  10. bob shovel

    bob shovel Well-Known Member

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    @Bran Cairns doing your head in? Is it neg geared? Can you put it aside for a while, there must be some action coming on the horizon?? Ignore it and keep going with other areas.... Or is it causing problems getting the next one?

    Have a little "holiday" from it, sounds low maint and tenanted. Go back to it in 3mths or so, or once you buy the next ip. Is it a case of "analysis paralysis" of the hindsight variety?
     
  11. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    You're doing the right thing. Jettisoning the dud and moving on.

    Don't sweat it over the next one.

    Something's happened between Cairns and now:

    You've connected with people who know what's up. :)
     
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  12. montoya

    montoya Well-Known Member

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    Weekends like the ones just passed...

    My father lives is a not so desirable part of Sydney. His place got broken into and unfortunately being on the pension means he can not afford things like contents insurance. He has lost a lot of his possessions he won't be able to replace. I'm hoping that not only one day I'll be able to replace all these things, but move him far away from there so he can enjoy the rest of his years.

    Meanwhile at home (a rental home that is), my reasonable requests for repairs and maintenance continue to fall on deaf ears, but we put up with it because we are yet to achieve our goals, and a few sacrifices now will hopefully see us reaping the rewards later.
     
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  13. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I'm seeing a common pattern, unsurprisingly.

    Having a strong enough "why".


    And that means thinking beyond yourself. If you're just focused on you, you'll only get so much drive and motivation. If you're wanting to make a positive impact on others (e.g. family, friends, the community or the entire planet) something wonderful happens––it's like the bigger your goal, the more gravity it has to pull you toward its attainment.

    The gravity of big enough reasons will pull you over/through any obstacles and challenges that get in the way.
     
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  14. Omnidragon

    Omnidragon Well-Known Member

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    Everything you said.

    I probably have enough to retire for life at not too extravagant lifestyle, and even if I didn't probably will be the beneficiary enough one day to do that.

    What motivates me is knowing how far I can go, doing something I enjoy (one of which is actually macro level investing), and running my own show. That said I'm not prepared to bust my chops to get there.
     
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  15. Biz

    Biz Well-Known Member

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    That is a good point Steven, I feel much the same way. Everything I have done or planning to do is mostly for the benefit of my family. So my family is what keeps me motivated.
     
  16. D.T.

    D.T. Adelaide Property Manager Business Member

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    Nothing, just aren't finished our task yet
     
  17. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @D.T. I find that impossible to believe. I know you are a smart guy, you honestly can't believe that 'nothing', nothing at all motivates you to keep doing what you do, besides to just 'finish the task'.

    Common Dave.
     
  18. D.T.

    D.T. Adelaide Property Manager Business Member

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    We have a new goal, a 7 year plan together with the better half.
    It involves getting (lots of) inorganic c.g. (renos / devs) as a first phase then rolling the bales of equity into high c.f. stuff as a 2nd phase in a few years. Finding our deals is fun.
    Helping other people is also fun (and I always do so for free).

    Its a compulsory game to play if you don't want to be broke at retirement.

    "Ain't nothing to it but to do it"
     
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  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Thats's a huge motivating factor right there ;)
     
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  20. Azazel

    Azazel Well-Known Member

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    Pay day ;)
     
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