Iron ore price, page-27563

Agree with you 100%. Got in early on a ASX IPO 6 years ago that 10+ bagged it. Plenty of fellow posters on the forum thinking they could time the market on a consistent basis who eventually missed out on getting back on board at a lower price and watched the stock they once held sail north. I distinctly remember one poster's only reason for investing was to buy a AMG Mercedes when he doubled his money. Yeah he got his AMG alright but if he waited another five years he could of bought a new 4 bedroom house to park it in .

Its all good to have your shiny toys but they are depreciating assets and his $100k AMG would now be lucky to be worth $20k five years later. For the patient ones who have time on their hands and put themselves in the position of not rip-sawing their money in and out of shares you can set yourself up if you dont go crazy buying depreciating assets all the time from gains made in stocks. Better to be a bit patient and play the long game then you can buy your fancy purchases from your dividends instead of selling out your shares before their time. No saying to live like pauper in the meantime but just to find a happy balance and have the discipline to think long term instead of just short term gratification.

One day your working life will be over and times like we living through sometimes bring forward that time when you go from a high paying job to one that is just enough to pay the bills. You have to plan ahead to look after your family's financial future as you dont know what life has in store for you down the track. Better to hang on to your FMG shares and enjoy the dividends now and in the future and let the CGT be the problem of your offspring who are going to inherit them for free anyway.