What do you do for work? - Page 11 - Ausbb

puff · 30-12-2009, 10:01 PM

Quote:

Originally Posted by kindred

I like wealth management it is something that interests me. I plan to learn more about the topic. My long term plan is to be able to invest my surplus funds in such a way as to get a better return then investing in term deposits and other similar investments. Do you have any advice on that sort of thing.

blbarclay has given you good advice although i don't completely agree with the property doubling every 10 years statement. It peaks and troughs - property values are inversely related to interest rates. They spike when interest rates go down and stagnant and or fall when they are comparatively high.

On top of having a long term view the other 3 things i would say is educate yourself - Jan Somers is probably the best place to start for property as mentioned before and Warren Buffett is a legend - number 2 is to do the opposite to the herd. Number 3 is to keep a budget - think of it like your diet and your training - so you know what's going in and out.

EDIT: for anyone starting off with limited exposure or knowledge I reckon the Barefoot Investor (Scott Pape i think) book is a great place to start for fundamentals and the right mindset.

Ben · 31-12-2009, 12:55 AM

Quote:

Originally Posted by blbarclay

On average, property doubles avery 10 years

Quote:

Originally Posted by puff

blbarclay has given you good advice although i don't completely agree with the property doubling every 10 years statement. It peaks and troughs - property values are inversely related to interest rates. They spike when interest rates go down and stagnant and or fall when they are comparatively high.

Couldn't agree more.

apiewithhoboliftingaroma · 31-12-2009, 12:25 PM

I just got another new job.

Marketing and Promotions assistant for Petersham and Newtown RSLs

stoked.

kindred · 02-01-2010, 08:11 AM

Thanks for the advice. Knowledge does indeed seem to be the key. At the beginning of my investment career I invested in companies I had gut feelings for now I use an approach based more on trend lines and how much I think the companies stock is really worth i.e. under valued or over valued. Since doing this I have made significant profits. I am hoping as my knowledge expands I can get a better idea to how well companies are valued and in which direction the market is going.

I'm not a fan of property. There is something about the profits people claim to get out of it that doesn't add up. Perhaps its through lack of knowledge who knows. All I know is id never take out a loan to increase my wealth its way too risky for me.

kindred · 02-01-2010, 08:12 AM

Quote:

Originally Posted by apiewithhoboliftingaroma

I just got another new job.

Marketing and Promotions assistant for Petersham and Newtown RSLs

stoked.

Congratulations.

puff · 02-01-2010, 09:19 AM

Quote:

Originally Posted by kindred

I'm not a fan of property. There is something about the profits people claim to get out of it that doesn't add up. Perhaps its through lack of knowledge who knows. All I know is id never take out a loan to increase my wealth its way too risky for me.

most of the property writers made money through booms when credit was easy. i'd be really surprised to see those kinds of gains within the next 5 months. avoid ever selling any property and you should stay in the market long enough to at least once realise the gains that people have seen over the last 10 years. Timing the market is not as important as time in the market.

Ben · 02-01-2010, 10:45 AM

Quote:

Originally Posted by kindred

now I use an approach based more on trend lines and how much I think the companies stock is really worth i.e. under valued or over valued. Since doing this I have made significant profits.

If you are a short term investor, that's great.

Buffet says he has never met a rich chartist, everyone has their own
goals

Quote:

Originally Posted by kindred

I'm not a fan of property. There is something about the profits people claim to get out of it that doesn't add up.

Ask your parents how much they paid for their place 30/40/50 years ago, and what it's worth now.

I guarantee you it will be 3/4/5 times what they paid, unless they bought in a ghost town.

The boom we had through 2000-2004 was not normal. Of course property is going to be slow for the next few years.

Quote:

Originally Posted by kindred

All I know is id never take out a loan to increase my wealth its way too risky for me.

Leverage is one of the greatest tools available to the investor, albeit a double edged sword.

I don't know a single rich person who has gotten there without the use of it.

I wish you all the very best.

haz · 02-01-2010, 11:36 PM

im currently a glass bender. i do stuff like buildings and shops, for example subway glass. its not a bad job but im getting sick of working on the furnaces in summer.

Shrek · 02-01-2010, 11:42 PM

So you are like Bender in Futurama except he bends girders and you bend glass. hahahaha

Welcome Bender

Christian · 03-01-2010, 12:45 AM

Security and i also run my own business.

However this year i am starting my advanced diploma in nutritional medicine.

02-01-2010, 08:11 AM	#104 (permalink)
kindred Active Member Join Date: Oct 2008 Location: South Australia Gender: Posts: 3,102	Thanks for the advice. Knowledge does indeed seem to be the key. At the beginning of my investment career I invested in companies I had gut feelings for now I use an approach based more on trend lines and how much I think the companies stock is really worth i.e. under valued or over valued. Since doing this I have made significant profits. I am hoping as my knowledge expands I can get a better idea to how well companies are valued and in which direction the market is going. I'm not a fan of property. There is something about the profits people claim to get out of it that doesn't add up. Perhaps its through lack of knowledge who knows. All I know is id never take out a loan to increase my wealth its way too risky for me. __________________ http://ausbb.com/member-training-dia...html#post80479

02-01-2010, 11:36 PM	#108 (permalink)
haz Active Member Join Date: Aug 2009 Location: Sydney Gender: Posts: 1,260	im currently a glass bender. i do stuff like buildings and shops, for example subway glass. its not a bad job but im getting sick of working on the furnaces in summer. __________________ Harry

03-01-2010, 12:45 AM	#110 (permalink)
Christian Active Member June10MOTM Join Date: Aug 2009 Location: Sydney Gender: Posts: 5,826	Security and i also run my own business. However this year i am starting my advanced diploma in nutritional medicine. __________________ S.P.N.H - Strength Power Nutrition Health http://www.facebook.com/spnhsydney *Information I provide does not substitute a proper medical evaluation by a medical professional; nor does it constitute practitioner/patient relationship, or liability, in any way.

31-12-2009, 12:25 PM	#103 (permalink)
apiewithhoboliftingaroma Elite Member Join Date: May 2008 Location: Sydney Gender: Posts: 890	I just got another new job. Marketing and Promotions assistant for Petersham and Newtown RSLs stoked.