I am 24 What did you have to do to get a ferrari?

Watch "Gone in Sixty Seconds" enough times and you'll figure it out.

Gene

 

Kim,

Just going to warn you that this question comes up often, to varying degrees of sarcasm... so be prepared...

In the spirit of christmas I'll answer you seriously... Education, hardwork, and choices...

Education: Do you need a college degree or an advanced degree to get a ferrari, no. But IMO it improves you chances.

Hardwork: Whether it be as a student or throughout your career, hard work is rewarded.

Choices: Some on this site "have it all", for others it is a choice to own a ferrari. This can mean a compromise. Perhaps a smaller home, no second home, not buying a boat...

There is no magic road to ferrari ownership... but the route I just gave you will get you there if you choose to follow it.

Best wishes.

Edit: In general, you get more favorable responses if you fill out your profile.

 

(sigh)

But as Simon mentioned, in the sprit of Christmas, I will also not flame you and give you an honest answer.

Stay in school!!!

 

ASK SANTA

 

Spend less than you make.

Find the book "The Millionaire Next Door" at the library and read it.

DON'T get heavily involved in consumer debt -- that means, be wary of credit cards.

Kids are expensive. Bad marriages are even more expensive. Make both of those choices deliberately. Beware the "oops!".

Old Ferraris aren't that expensive. You can get a Mondial for less than the cost of a Kia. Maintaining them is another story. If you're going to run an Fcar on a shoestring, start learning now how to turn wrenches.

Italian cars aren't for everyone. I would suggest picking up an old Fiat or Alfa and live with it for a while. If owning those doesn't kill the desire, you're the right kind of guy.

Good luck.

 

There are a few ways to go about it..............
I have a friend that I work with underground, his son just finished grade 12 and is ready to start an apprenticeship as a mechanic or diesel fitter. His Dad told him to forget that, because he has got him a job earning AU$100K per year operating mining equipment. Just like his Dad does, but this kid is 17yrs old!!! Straight outta school. There are a few guys where I work, that are 18yrs-21yrs old, that are on around AU$100K. All went from highschool into mining. I have many friends that are my age, 26yrs old, that WENT to University, all have jobs now, but cannot afford to even buy a house because they have average wages. 3 are Doctors living in Brisbane with their parents. They are on 2nd year Doctor wages, around AU$50K apparently, working in the Public health system. Average wages and it will be many years before any of them will step into a Ferrari. Ferraris are alot more expensive in Australia because of our import tax. Anyways, I finished highschool and got a trade (Mechanic), then started work in underground mining 2 years ago, just to earn the big cash. Now I drive a 348, own a Ford Fairlane showcar, drive another car to work, live in this house and have an investment property in Townsville. I will be looking at buying another investment property next year in Brisbane. All this has happened for me in the last 2 years, when I started work in the mine and started earning alot more money. Could not have done it otherwise. This 17yr kid can buy a Ferrari in the next year or so if he really wants. I started at 24yrs old, this guy is 17yrs old. He still lives at home (so far), so he will save alot of money there. He is not interested in Ferraris anyways, but I am sure you understand where I am coming from. University may not be for everyone and depending on the job you get, it could be a long time before you own a Ferrari mate. At work, you talk to alot of guys, who just finished Uni, but earn crap money in their chosen profession, so they come and do a few years work in the mine to get some real money, to set themselves up for their preferred line of work. That is also another option if you are already at Uni. Finish your studies, then get some decent money, then get back into your chosen work path.
Anyways............that was me rambling, do whatever you like. Take care.

 

Prioritize. Kids these days are so hung up on having the newest, coolest, hippest things that they go broke buying them. At 24 most kids have already sqaundered enough money to buy a rather nice sports car.

Do without now so you can have later. That's my plan anyway.....you can't do much with a family income of less than $65,000.00 a year......however the only bill I have is a small house payment. The rest goes to my 401k, Edward D. Jones and my personal savings. With a little luck I should be able to get myself something nice just before I die.

 

And us older folks own our Ferraris from investing in the companies that are making the newest, coolest, hippest things...

 

Work for GoldmanSachs apparently !

 

Classic. Merry Christmas Pap!

 

I just ran across this NY Times article via a link on the DrudgeReport. Maybe it's been posted already. Below are excerpts from the article. So it certainly look like Goldman Sachs is a good start but not a guarantee.

December 25, 2006
Wall St. Bonuses: So Much Money, Too Few Ferraris
By JENNY ANDERSON
In recent weeks, immense riches have been rained upon the top bankers and traders. After a year of record profits, investment houses like Goldman Sachs, Lehman Brothers and Morgan Stanley are awarding bonuses as high as $60 million. And a select group of hedge fund managers and private equity executives may be taking home even more.
That is serious money. And the serious luxury goods markets are feeling the impact.
Miller Motorcars, in Greenwich, Conn., is fielding more requests for the $250,000 Ferrari 599 GTB Fiorano than it can possibly fill. One real estate broker laments a dearth of listings for two clients trying to spend $20 million on Manhattan properties. Financiers already comfortably settled in multimillion-dollar apartments and town houses are buying $5 million apartments for their children. Vacation homes, usually bought and sold in the spring, are now hot this winter, including ones in private resorts like the Yellowstone Club in Montana near Yellowstone National Park.
“Last year, everybody bought Ducatis,” said one investment banker, referring to the Italian motorcycle. “This year it’s vacations. I’m on my way to St. Barts,” he said, en route to the airport. Like most bankers, he spoke on the condition that he not be identified, because he was not authorized to talk to a reporter by his company.

...

Those young, single hedge fund managers are bringing holiday cheer to car dealerships as well. This year, drama surrounds the very limited production of the Ferrari 599 GTB Fiorano, a car with 612 horsepower that can go from zero to 60 miles an hour in 3.6 seconds. “It is the most sought-after car ever made,” said Richard Koppelman, president of Miller Motorcars. With a waiting list of 50, Mr. Koppelman expects to get only one.
Who will be the lucky customer? “It’s very difficult,” he said. “We try to take care of our best clients.”

 

Bingo !



Or ask Tony Robbins, he has a way of making "dreams come true" ...

 

Marry a good woman. My wife made Ferrari number two happen. And she is working on number three.

 

Hey Kim ...

I am 24 also ... and hope to own a Ferrari some day too ... my plan's are fairly straight forward.

Save money over time, when that figure is to a point where only 15-20% of it can by the Ferrari of my choice, I will get a Ferrari.

Also, my dad bought a Ferrari 2 year's ago, and it was a 99 F360 ... in purchased in 2004. At that time, it was drastically cheaper (for a Ferrari). With Ferrari, the price's are really really marked up for a brand new car ... but the used market is more stable and a 10 year old Ferrari could be affordable for many people.

Personally ... I think of Ferrari's as Toys ... and if I want a toy ... I better be able to completely pay for it cash ... so it is quite a while away for me ... but you have to be realistic ... most people on this forum are not in their 20's ... most are probably not in their 30's ... it's probably people who are stable, in their 40's + that have invested and saved over time and bought one for a short term blast.

Locally, a lot of FCar owner's alway's get a new one every 2 years ... cause they do not drop much in value so you can keep flipping the cars.

 

i bought my firts ferrari when i was 21. it was my car and i paid for it in whole. i worked everyday i could, including weekends to pay for it for several years before i bought it. when i bought i, i put over 50% down and financed the rest (at the time it was $15k down on a 308gtsi).

forget what greif you get. if you are truely buying it for you, you will find a way. when all your friends start making comments, trust me they will, focus on what you want and are willing to work for.

i can't tell you how disappointed i was in my "friends" when i bought my ferrari. they stabbed me in the back as fast as i told them i bought it. outside of 6 people, no one knew i had it for at least 6 months. once they found out, i knew who my real friends were. keep in mind, this was many years ago. i was 21 years old and so were my "friends".

stay focused and realise "friends" will come and go. with dicipline, you can get a good grasp as to who is real and who is NOT.

 

make some money

 

don't do drugs.........................















































sell them

 

Find a need, and fill it. That's my personal mantra. I just haven't found a strong enough need, and had the means to fill it well enough to buy a Ferrari.

I'm in the military right now. I make a good enough living to live in a nice house with some roommates, drive a nice car, fully fund my IRA every year, and put a grand into my mutual fund every few months, but that's about it. I don't have much money. I have a few small stock investments and have started demo trading the ForEx market to see if that's right for me.

This board is actually really inspiring. I've decided that I really do need to finish school and find a niche that will let me be more self-reliant for the rest of my life. Just looking around, reading people's stories, really gives me something to look up to.

 

STAY FOCUSED!
Determine your goals and stay true to them. By waundering you will get distracted and end up with wasted time and nothing.

 

Work, spend less, spend less, and work

 

Cheers. Merry Xmas to you too ol son!

 

1.) Love what you do with a passion and be the best at it.
2.) Work hard, then work harder.
3.) Out think the other guy.
4.) Never, ever, give up.
5.) Have a plan and stick to it / stay focused / self discipline.
6.) Invest in your future, not the weekend.
7.) Seek advice from those you respect.
8.) Dream big and often but don't hallucinate.
9.) Never stop learning.
10.) Don't be afraid to ask questions.
11.) Don't spend it unless you've got it.
12.) Save,Save,Save,Invest,Invest,Invest.
13.) Never listen to nay-sayers.
14.) Don't let weeds grow around you dreams.
15.) It's your life, don't forget it.
16.) If all this fails, become a stock broker.