Posted on 06/22/2017 12:50:09 PM PDT by nickcarraway
A real-life Robinson Crusoe who has spent 20 years living on a desert island says he’s glad he doesn’t have to worry about terrorist attacks.
Former millionaire David Glasheen, 73, moved to the idyllic Restoration Island, located off North East Australia, in May 1997 after losing his fortune in the stock exchange crash of 1987.
The ex-gold mining tycoon and property magnate, who at his most successful was worth an estimated $27 million, now lives in a wooden beach shack with only his loyal dog Polly for company.
(Excerpt) Read more at nypost.com ...
A girl once asked me that to which I replied, "Mary Ann, okay, same question?"
Realizing I had just asked her to choose between two girls, I quickly changed it to Professor or Skipper. Which really didn't seem to help much.
at the same time.
History has shown that it's *at least* as easy to lose a fortune in the stock market or real estate as it is to make one.
Lol, but remember that Australia is full of animals that want to kill you
Ginger was too high maintenance.
Yep. Bailey over Jennifer. Same reason as MaryAnn over Ginger.
The stock market is so full of pump and dump as well as artificial bubbles over the past twenty years that the traditional buy and hold until retirement is a shaky proposition for people of modest means. Depending upon when you’ve got to start drawing you could really be hurting.
Real estate only works if you buy with your profit built in on the front end, meaning severely discounted for whatever reason, and you then make it pay out by adding value with improvements or income via rents, bailing once bubble territory comes lurking around again.
It’s not for the faint of heart.
I grew up next door to a kid whose father was a doctor and whose mother was a research scientist.The kid was smart beyond belief but he had *absolutely* no personality.He wound up in medical school himself and is now a heavy hitter at a very famous hospital.
He still has no personality but has a huge house in a fancy neighborhood and the most gorgeous wife you can imagine.I only met her once so I can't determine if she,too,lacks a personality.
I agree!
So Australia is like East LA and the Southside of Chicago?
Not when the company you bot goes belly up............
Bailey....!!!
Sounds OK to me. However, I don’t like that much sunshine - I’d go somewhere with some cloudy weather, like Nova Scotia.
Ginger, she was insatiable.. being pretty doesnt mean much if you dont know how to use it.
Both, a man has needs.
I've never been in the stock market...having followed my Dad's example...he having been a child of the Depression.But I bought my first house years ago in a middle class...maybe even upper middle class...suburb.It was sturdy little place,fully respectable but far from glamerous,It was,however,in a very quiet,well kept neighborhood filled with nicer houses than mine.
After owning it for about 25 years I sold it to downsize and found that that neighborhood had become *very* hot in the previous few years...something which I kinda knew anyway.
Made a huge profit on it (even in inflation adjusted dollars) and found about a year later that it had been torn down and replaced with a $2.5 million "McMansion".
Dumb luck I'd say....but "location" is important in real estate,which I knew from the beginning.
The big payouts seem to come at the expense of limiting future development due to environmental restrictions, existing housing stock skyrockets because that’s all there is and may be all there ever is. Other than that, buying the cheapest house in the best neighborhood does increase the odds of coming out smelling like a rose.
Democrats would vote “Gilligan!!”
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