Haters gonna hate: Why Barefoot won’t take the bait

Scott Pape’s inbox gets more than its fair share of hate mail but he shrugs off the insults because he knows when you try to make a difference, you’re going to piss a lot of people off.

Scott Pape is the Barefoot Investor. Picture: Jason Edwards

God Dang!

Last week I wrote about my road trip through the most dangerous city in America. While I came out of it whistling Dixie, I didn’t realise the violence that would be waiting in my inbox this week:

“You know what I really hate? When Australians try to make themselves feel better about their boring, rotten country that is too scared to leave the monarchy, by insulting the US.”

“I’d rather drive a Mustang than a Holden. Do they even make any cars in Australia anymore?”

“I can only hope this crap you’ve written was in fact deep-fake Scott Pape.”

“No one gives a rodent’s rectum about your political views. They are an abuse of the platform you have developed.”

“Is your goal to get a safe Labor Party seat?”

(I’ve been labelled a radical lefty, a right-wing nut, and a gun-toting country hick – which is probably the closest.)

And these were the slightly nicer ‘PG’ responses I could publish. The worst emails I got this week were actually threats designed to make me ‘rethink’ my political views.

But don’t cry for me, Arkansas.

I’ve been writing this column for 21 years, and I’ve copped more curry than an Indian chef:

Industry super funds hate it when I question them about their expensive fees, their empire-building, and their aggressive valuations on unlisted investments.

Insurance companies don’t like what I’ve written about their rubbish policies and their price-gouging.

And the banks … well, let’s just say to this day I still have nightmares about the Dollarmites mascots murdering me in my sleep!

Anyway, my mother always says “You can’t please everyone”.

That’s true but, in the classic mum sense, it’s a way of sugarcoating the truth:

The fact is, if you’re out there trying to make a difference, you’re going to piss a lot of people off (especially rich people and companies who have an army of lawyers who threaten to sue … which happens more than you think).

Yet my job isn’t to kowtow to yanks (or cranks), to fluff up my social media (don’t use it), or build my brand (whatever that means). Truth be told, I never got into this game to be popular … which turned out to be a very wise decision!

Tread Your Own Path!

My Husband Has Been an Addict for 31 Years

Hi Scott,

My partner and I, both in our mid-forties, have been Barefooters for years. We live in the outer south-eastern suburbs of Melbourne and have two kids, aged 10 and 13. We should have our mortgage paid off within the next two years, currently have no other debts, and have discussed plans to invest in Vanguard. My partner is focused on eliminating debt and growing our financial future but, sadly, he is not ‘investing’ in his physical health. He’s now heading into his 31st year of smoking and doesn’t want to give it up. I’m hoping you might be able to provide him with the motivation – for financial reasons – to butt out for good!

Bella

If you treat the addiction the money will sort itself out, says Scott Pape.

Hey Bella!

I’ve had a lot of experience helping addicts, so let me tell you the bad news first:

Beating them up about how much money they’re wasting on their drug of choice will not only not work; it will more than likely stress them out and make them use more!

To a non-addicted brain, this sounds completely ludicrous, but not to anyone who is in a pit of addiction.

This is as true for those who are sending thousands of dollars up in smoke as it is for gambling addicts losing hundreds of thousands of dollars a year.

What would I do?

Well, it sounds simple: if you treat the addiction the money will sort itself out.

And how the hell do you do that after 31 years of smoking?

Easy.

First, in the Father’s Day cards get your two kids to write about how much they love their dad, but also how afraid they are that he’ll get sick and be lost to them.

Second, get your kids to buy him a very special Father’s Day present:

Allen Carr’s Easy Way to Quit Smoking Without Willpower

(This book has 7,680 reviews on Amazon with a 4.6 star rating and has been around in various forms for 40 years.)

Finally, give him the peace and quiet to read the book.

Health is the ultimate form of wealth.

Good luck!

Artificial Intelligence Stole $300,000 From Me

Hi Scott,

I have just read your response to Craig regarding Robert Irwin and Trade 6000 Alrex. I just want to confirm what you have said and warn Craig to ignore this and any other get-rich-quick offers on the internet. I got sucked in by a deep-fake advertisement of Elon Musk and lost over $300,000 – plus at least five years of my life going through stress with the follow-up scams telling me it could be recovered. Without going into the whole catastrophe, just be aware that it starts off as such an amazingly easy process – you think to yourself “Why isn’t everyone doing it?” The answer is because not everyone is as gullible as me! Please do not use my name.

Anonymous

Scam losses are like cockroaches: for every one who admits it, there are hundreds hiding in the dark.

Hi Anonymous,

Thanks for sharing.

Scam losses are like cockroaches: for every one who admits it, there are hundreds hiding in the dark.

Your experience mirrors the hundreds of conversations I’ve had with other victims.

Losing the dough is financially shocking and in many cases life-changing.

And, as you’ve said, dealing with the follow-up scams (“We can recover some money for you … if you give us more money”) can go on for years and can give victims PTSD.

(Which is why anyone who has been scammed should go to IDCARE.org – call 1800 595 160 – and have them douse their online profile with hospital-grade bleach.)

The money loss is one thing, but by far the biggest losses I see with scam victims is with their mental health. Most of the time their self-confidence is shattered by the experience – their sense of shame and disgust eats away at them.

I totally understand why you don’t want to share this experience publicly. However, I’m pleading with you to share it with a counsellor, who can help you move forward. The scammers stole your money – don’t let them rob you of your future.

Mum Won’t Give me $30,000 Because of YOU, Barefoot

Hi Scott,

My mum is withholding a $30,000 inheritance for me from my late great aunt because she thinks I wouldn’t use it the ‘Barefoot way’. I’m a 26-year-old woman, living with my partner, and we have money of our own saved up for a house deposit. I told my mum that, if she gives me the $30,000 from my great aunt, I would also put it in our high-interest savings account to earn interest until we buy a house. But she says you would tell me to invest it in shares or use it to pay off my HECS. Is that true? Until I agree to the ‘Barefoot Way’, she’s not going to let me have it.

Olivia

Barefoot suggests a young woman puts her $30,000 inheritance towards her house deposit in an online saver account. Picture: iStock

Hey Olivia

Order! Order!

Judge Barefoot is in the house. Please all rise, while I give the verdict:

In the matter between you and your mother, I find in favour of …. YOU!

You are up to Barefoot Step 4: Buy Your Home, so you should definitely put the inheritance towards your house deposit savings in an online saver.

Once you’ve done that, you’ll move up to Step 5: Increase Your Super to 15%. That’s when you’ll be tax-effectively investing long term into the share market via your low-cost super fund.

Well done, and please say g’day to your mum for me!

Information and opinions provided in this column are general in nature and have been prepared for educational purposes only. Always seek personal financial advice tailored to your specific needs before making financial and investment decisions