Forum Replies Created
It can be even more effective with a corporate Trustee. I suggest you investigate this – you might find it works for you better.
Frankly it’s more important that the investing/financial knowledge at the end of the day.
I see how poor the ethics of business & political leaders in Australia have become & are constantly appalled at the poor example set by the education system as a whole (not individual teachers, who are trapped within the system).
Without ethics societies break down.
I second CastleDreamer.
IMHO this is by far the most active property forum in Australia in terms of the number posts, but the quality & value of the posts overall is the second worst.
However it’s still a young forum & I expect with some age will mature somewhat.
Family, health, fun experiences, personal growth, mentoring others….pretty much in that order.
I love doomsayers.
Personally I think you’re overlooking a number of events in your claims of thirty years of economic growth….1987 correction, DotCom crash, Asian crisis, 9/11 crash, South American crisis, etc.
Of course if you look at it across thirty years they all look like minor bumps in a constant upwards march….But so does the Great Depression if you look at the last 100 years.
Frankly it’s a matter of scale and definition.
Will there be a bust – um…what’s a bust?
Define what you mean by a bust & then we can have a real discussion
I know some very smart people too – none of them are stashing gold, silver or platinum in the ground…..but a number of whom are spreading their risk across a number of different asset classes.
Good luck waiting for those ‘substantially’ lower RE prices! (whatever you mean by substantial)
And remember – you should NEVER try to apply identical metrics to shares & property – you lose every time
Globally there are always ups and downs….the secret is in making sure you have good suspension
There’s been a similar debate rage over at Somersoft.
At the moment with low rental yields there’s a strong case for renting as you can rent a place for around half of what you would pay for it it in repayments.
You can use the extra money to buy more IPs.
However if you buy a PPOR you get the CGT exemption.
So there’s a case both ways.
With $130K you could also follow a middle course, depending on where you are based, and buy your PPOR and several IPs.
This is a slightly different perspective on the priorities you should consider at your age.
IMHO, the most important thing you should do right now is enjoy yourself.
Sure, make certain you do OK at school & do the reading to get yourself a financial headstart.
However putting your investment master plan into action can wait a few years. Right now you’re soon to be freed from the parental prison & be recognised as a responsible human being. Enjoy it!
Travel, meet new & interesting people, kick butt on the sports field or whatever – experience as much as you can (within reason – hard drugs & crime not recommended).
Because there’s little point dedicating yourself to ‘getting ahead in life’ or ‘being financially free’ if you haven’t learnt enough & experienced enough of life to know WHY you want these things or what you’ll do after achieving them!
At the end of the day, working your guts out now to be financially free by the age of 25 or so is great, but KNOWING WHY you want to be financially free is more important!
Frankly I’m rather surprised at the number of people who have replied & defended their questions, attitudes or positions.
Frankly the only person you have to satisfy or impress is yourselves.
Ditto for SIS.
If someone comes onto a forum and lie about their success, gives advice to others which isn’t backed by experience & generally act in a deceptive & fraudulent manner – well that just shows that THEY have major issues.
Sooner or later these people get caught out & disappear in disgrace.
IF SIS is one of these people he will as well.
Frankly, I don’t know anyone sensible who will reveal everything about themselves in a forum. I’ll agree that the approach SIS is taking is an unusual one, there are holes in his stories you could drive a truck through, but that doesn’t make them untrue.
In fact if he’s only 21, it’s entirely understandable he’s not very good at communicating yet!
KayHenry: I don’t think anyone on this forum is a jealous loser – but in many situations in life it’s easy to play the role of the fox in Aesop’s Fox & the Grapes…sometimes you need to consciously question your own reactions to see where they are coming from.
If you put down a 5% deposit you can secure a $1M property for under $100K (inc costs)…if you buy an option over the property for $10K you control the property for the length of the option. If you wrap the property to someone else, you also control it (for the wrap duration) for under this amount as well. I wouldn’t necessarily disbelieve you if you said you controlled a $1M property and it only cost you $100K…In fact I wouldn’t even think it unusual.
Guys, put aside whether or not SIS has achieved as he’s claimed for a moment.
Think instead about how you feel about the concept of a 21 year old having achieved at the level SIS claims to have achieved. Possibly having achieved much more than you have in a much shorter time.
If you feel disbelief or jealousy or any other ‘negative’ emotion – doesn’t this say more about your feelings about your own abilities and achievements than about theirs?
Also with this kind of reaction to someone else’s success, what does your attitude say about your belief in your own ability to achieve?
And you don’t need to be ‘gullible’ to congratulate others on their success. If in the wash it turned out that someone made it all up – big deal. It’s worth celebrating success – it uplifts everyone involved and it’s only the person who lied to themselves about their success who is pushed down.
Success should be celebrated – it doesn’t mean that the people celebrating are gullible, stupid or anthing similar if the object of the celebration was lying – success should STILL be celebrated!
Good on you SIS – I hope you not only continue to do well, but you begin to look at ways you can help and inspire other young people to aspire to their own ambitions.
There’s a push on at the moment to provide greater financial education for young people – you’re an example of the result of seeking out this kind of education. Why not see how you can offer your services, speaking at schools, moderating events – whatever.
Because at the end of the road you get out of life what you put in
BTW- The specific Somersoft thread in point is here: http://www.somersoft.com/forums/showthread.php?t=15015
And the person who should be credited with the comments is PT_Bear.
Be very cautious of Brendon (alias Geronimo at Somersoft). Read the posts concerning him & the companies he is affiliated with in this thread at Somersoft & draw your own conclusions: http://www.somersoft.com/forums/showthread.php?s=&threadid=14038