Who has $1M in a single fund?

Discussion in 'Share Investing Strategies, Theories & Education' started by Simon, 8th Apr, 2007.

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  1. Simon Hampel

    Simon Hampel Founder Staff Member

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    Most couples (especially with one partner who is quite conservative) go through this journey - it takes time and patience to get beyond this phase.

    Do you own much real estate ? Once we owned over $1m worth of property (which my wife was quite happy to invest in), discussing shares and margin loans of similar magnitude became much easier.

    It also helps if you can clearly articulate the risks in your portfolio, and explain your approaches for managing those risks. If you can get to the point of being confident in answering the "what if" questions that get thrown at you ... it should become easier to manage. This is a valuable exercise to do for your own due-diligence anyway. It's not about dismissing those concerns, it's about addressing them in a reasoned and realistic way.

    I also found it helped my wife to comprehend what I was trying to do by involving her in the goal setting exercises ... being very careful to differentiate between "dreams" (long term) and more immediate (and achievable) goals (short and medium term). By being able to clearly show the steps (and investments !) required to get to where she wanted to be, I was able to show that there is a reason for the things I want to do - it's not just a whim.

    The "what" and the "how" become much easier to comprehend once the "why" is understood.
     
    Simon Hampel, 15th Apr, 2007
    #21
  2. Glebe

    Glebe Well-Known Member

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    Or alternatively, just don't tell them :)
     
    Glebe, 15th Apr, 2007
    #22
  3. Andrew Allen

    Andrew Allen Well-Known Member Business Member

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    My partner is looking forward to gaining a salary so she can reduce our debt, I'm looking forward to her salary so that we can borrow more. Banks will love her job and will be happy to throw money at her, being self employed I'm paying a premium for my money.

    There will be some interesting discussions.
     
    Andrew Allen, 15th Apr, 2007
    #23
  4. MichaelW

    MichaelW Well-Known Member

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    Hehehe...

    And MY partner is looking forward to not working any more now that she has quit work. We finally took on enough debt that we didn't need her salary any more! :D

    I can't wait until we have enough debt that I can quit work too!! :eek: Maybe another 2-5 years...

    Cheers,
    Michael.
     
    MichaelW, 16th Apr, 2007
    #24
  5. hillsguy

    hillsguy Well-Known Member

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    Michael, my wife has also quit. I am probably another 8 to 9 years away ( not that anyone is counting ) from no longer relying on a wage for income. Can't wait !
     
    hillsguy, 16th Apr, 2007
    #25
  6. Simon

    Simon Well-Known Member

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    Thats what I do - not because I am devious but because she is genuinely not too interested and happy for me to manage it all.

    I might mention over dinner that I bought $100K of something and she doesn't even budge an eyelid.

    A far cry from the Woolworth's float all those years back when she was convinced my $2K worth was going to be lost overnight!

    Fear = ignorance. Now she knows more about money she isn't frightened, just not too interested either.
     
    Simon, 16th Apr, 2007
    #26
  7. bundy1964

    bundy1964 Well-Known Member

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    So wish I got onto the WOW and CBA floats. PMN was so good for me :D and TAB was ok.

    Current partner has been a book keeper and studied economics, still likes her dodads though. She is more comfortable with houses than shares atm.

    I would take a lot of convincing that $1m in a single fund is a good idea, spending that on a house has had a fairly good argument put up for it.
     
    bundy1964, 17th Apr, 2007
    #27
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