Quote:
Originally Posted by KTown
I never claimed to be an expert on investing. Was I lucky I don't think I was, Every job I ever got wasn't handed to me I had to interview for them. I never had a friend or a parents friend ever get me a job. I also go turned away for work plenty of times but I kept on trucking. Using equity you built up in an investment or property is your smartest way of making money. Your right that I am over leveraged right now probably, but if you don't take a risk then chances are you won't make money. If all my tenants start to leave and I lose my job than there is a good chance I'd have to sell some properties or some of my shares in my investments. Do I think I will lose my contract job? No considering I just got a raise on my rates by about 25% since another firm tried to steal me away from my current firm. I've got a good reputation out there in the industry that I built up over time.
I have lost money on investments any investor will. The question is do you make more than you lose, I also bought stocks last summer when everything was at its lowest point. Was I lucky there or was I smart? Probably a bit of both. Buy low sell high, right. Easier said then done it takes a bit of a risk taker to buy stocks when everything is tanking and people are losing there jobs left and right.
I have no problems disclosing how I've managed to start taking care of my future and how I am years ahead of people in there 40's and 50's. I just hate when people question ones integrity.
I always say work hard, invest hard and then play hard.
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Lucky as in the investing deals you did worked out for you (not that you didn't work). I think you are offended because you see it as "i did my time and worked labour jobs and look where i am now cause i invested" but the way I think of it, you don't have to do your time, its a matter of finding a job you like and being intelligent with your money (that is my approach). I could be wrong, but the impression I get is you buy property and invest in stocks with a mindset of just "lets do it" .... again I could be wrong, but I'm not sure you did all the due dilligence by that my bias expects, I expect all decisions with money to be cognative - you have to read the annual reports, go through the income statements, see how they use their money (especially profits et al), et al... not just "just do it" ...
FTR... I don't think you HAVE to earn your stripes... again, I think some planning ahead and being cognitive about what you do goes a long ways.