Writing article on your journey to having Ferrari Wealth

Who says I am wealthy? My Ferrari cost more than a years gross pay, nearly 2 years net pay after taxes, I would not say I am wealthy but yes my is Ferrari paid for.
It's called skrimping and saving for 20+ years. Not everyone with a Ferrari is rich some of us sacrificed a LOT to get our dream car.

 

20 years of saving here too.

 

I'm not wealthy, but when I was younger I did work hard to get a reasonable education and I made a conscious not to use drugs or get in trouble with the law while many of my friends did the opposite. That allowed me to hold down some decent paying jobs including some which involved remuneration because I was risking my life. Then, some wise financial investments, finding a very talented wife (only one) who also worked hard, a well thought decision not to have kids, risking my life savings a couple of times in various successful entrepreneurial ventures, and a little luck all finally added up to having enough extra money to afford my Ferrari. I'm old I suppose, but not too old to enjoy my Ferrari and my Ducati motorcycle. Actually, the one I bought is not the most expensive Ferrari I could afford, but it suits my needs and wants quite well.

My path to owning a Ferrari ain't rocket science and it didn't involve breaking the law, losing my moral compass, or using a penny of Daddy's money.

 

Not exactly what the OP is asking for but a Ferrari story: http://www.ferrarichat.com/forum/456-550-575/353855-sad-day-me-my-575m.html

And one about buying (back) my Maserati: http://www.ferrarichat.com/forum/456-550-575/379485-should-i-add-maser-3200-my-575m.html

Markus

 

Many Ferraris cost far less than a new pickup truck. You don't have to be wealthy to own a Ferrari.

 

Word!!

 

+1. And I continue to have concern that maintenance is going to cost an arm and leg. But I have always had a passion for these cars.

 

I also have a passion for Ferrari (my therapist said it was displaced sexual anxiety, jk) even though ownership diminishes with each passing year. Regarding maintenance cost you can and will save a small fortune if you invest in the proper tools etc etc so you can perform the work yourself.

 

There's two ways of interpreting the OP's post.

First, to have the desire and own a Ferrari regardless of station in life. You can work at Walmart and buy a Ferrari. You might live in a beaten rental house or trailer.. but you'll own a Ferrari because it's what you've always wanted. Clearly not "wealthy" but you own a Ferrari.

Second, true wealth.. where your money works for you, etc. and you're in the 0.1% of incomes in the country. When you are the first buyer of a new Ferrari. Not sure if the lessons and trials to get here are what the OP is after.

In both cases, it's probably some of the same elements. Delayed gratification and saving. If you make $20,000 a year and spend every penny you won't have cash for a ferrari in the same way making a million and eating out every day, mortage on a million dollar house and vacation home(s), coke habit, etc. can leave nothing at the end of the day. Determination.. willing to work to get what you want in both cases and doing whatever you have to do to get there.. that's a commonality between the two.

Not exactly sure what the OP is referencing.. but just owning a Ferrari does not equal wealth by any means.

 

I've been saving for 8 years, on a modest income compared to almost everyone here. When my fund went into 6 figures last year, I started looking. Six months after that I started driving some of the contenders. At this point, have made offers on 5 cars, didn't workout for one reason or another. Have just been licking my wounds for the past 2 months.

At this point, I know what I like in the various price brackets up to $200k, now I struggle with SHOULD I spend this kind of money on a car with limited utility and high maintenance bills....not to mention the massive depreciation on some of them.

So I'm not pissed off that I haven't completed a transaction, the journey has been the fulfilling part.....

 

You may get a better responses to these questions in one of the subscribed areas of the forum.

 

Here's what separates the successful from the also rans......

1. strong work ethic
2. willingness to take risks
3. delayed gratification
4. self discipline

Pretty dull really and I doubt most people want to hear it.

Dave

 

got a link with your previously published works?
where/how are you planning to document these stories?
got a bio posted somewhere?

 

Our shared passion for these cars really is a great leveller isn't it? It really doesn't matter whether you are rich or poor. If you have the passion to learn about these cars and the determination or desire to commit to buying one, then we all have one very big thing in common that trumps any talk of cash.

This is evident in my local owners club where you will made just as welcome if you have saved hard for years to buy a cherished car as you would if you swap for the latest model every six months.

Re the OP - I do think that a piece following the ownership journey from both extremes could make a great read or even a short tv documentary. Perhaps they end up as friends (ok maybe a bit mills & boon ;-)

 

Your stories are some of the most heartwarming ones that I've ever read on the website.

Haha

 

A Ferrari was my dream car since I was very young. I'm not a wealthy guy, but I had a dream and I chased it. Finally, I saved up enough cash and bought my first Ferrari. Truly a dream come true.

 

^^^ THIS^^^

I am a mechanic. I bought mine in a box (27 of them actually). It was the most expensive jigsaw puzzle I ever bought. The above statement applies here also. I got mine because I worked my freaking tail off to get it. Hence my reason for disliking handouts to people. Want something? Get off you @ss and earn it just like the rest of us!

 

No...but you do need to have exceptional taste!!!

 

Much as I love Ferraris and other high end cars, I think passion and inspiration ultimately spring from something more significant than the desire to buy a specific car. The acquisition of the car is sort of the least instructive bit, IMHO.

(That said, if you want a good account of someone obsessed with the having, read Herman Melville's account of a crippled guy who wanted a Ferrari FF in bianco avus and would stop at nothing to get it.)

 

Wow I don't even own a Ferrari but I love these working stiff stories! I am waiting for the first 'my daddy is a hedge fund billionaire and he said he'd buy me a 458 if I graduated from hs'
Jim

 

Well, "wealth" is an elusive term, or at least it is to me. And I don't think it's the same as being rich.

I imagine you could get involved in either using cocaine or buying a Ferrari (or perhaps both) without considering the short term or long term costs. But disregarding the ultra rich Hollywood types or the completely stupid kid flipping burgers, most of us became Ferrari owners only after thinking about it pretty seriously. And I suspect part of that thinking has to do with the feeling of wealth.

A few people buy a Ferrari even though they can't afford it because it's nearly an obsession and they work hard to "make it happen". But most of us, I would argue, arrived at a certain financial position and then we wonder if we can "justify" owning a Ferrari. Some of us have been wondering this since we were kids and some only since they won the lottery or made it to the NBA.

So if by "wealthy" you mean "rich", then what you say is true. However, very few rational people can justify buying one; certainly not if they don't have the money and most can't justify it even if they do have the money.

Many years ago I could justify a brand new Porsche and bought one when I was in my early 20's with money I earned. I was very happy. My friend had a Ferrari itch he just had to scratch, so he brought a pretty tired Ferrari at three times the price of my Porsche. He was a Ferrari owner, but an unhappy one since his level of "wealth" didn't match his car choice.

If you can justify buying a Ferrari, then I would argue that you are better off feeling wealthy to a certain extent because you can't very well say that you "need" a Ferrari, other than from a purely emotional standpoint.

The feeling of wealth, naturally, is going to vary wildly from person-to-person if measured in dollars and cents. But I think many of us have to be feeling a bit frisky and at least somewhat comfortable with our own very personal (and quite individual) level of "wealth" before we actually plop down the cash for a Ferrari, be it a new LaFerrari or an older 360 Modena like mine. I'm not rich; never have been and never will be, but I do have enough perceived wealth (in what's left of my mind) to justify owning a couple of nifty toys including one Ferrari. Nick Mason is not very much like me, but I'm willing to bet that he thought about his last Ferrari purchase in a similar way to how I thought about mine. Of course, that could be purely my imagination.

Bottom line; You don't have to be "rich" but if you own a Ferrari and feel "broke", you had better be a very special kind of individual.

 

I did terribly at school then dropped out of university after a year.

Not sure what happened since then, but here we are.

 

Not more of this crap again. Hey OP trying writing something you actually create yourself! And it really MAKES ME ANGRY how people think having enough money to buy a friggin car makes you successful!@

 

This thread and the poster ring very suspicious to me. It seems this person only joined a few days ago