I want to take a minute to thank some people and explain the situation a little more yes I am very young I got kicked out without knowing any financial advise my financial advisors gave my mom 500,000 , i dont trust a word they say....... I have the rest of my money in "lockdown" as the reason I cannot get a house I don't like the thought of loans as there long long term and Im not that kinda guy to commit to something that long maybe you can more understand my situation, the "bouns check" is some left over money still coming in, not from a job....... just wanted to say thanks for all the advise, I really don't have anyone to talk to for financial decisions, as all they say is to take every last penny and invest it, which I disagree with as I would like to live life a little , thanks again
See I knew it! Anyways kid - forget about the Ferrari. It sounds like you've got a lot of finanical issues to figure out, and haven't even started your life yet. If you have some money invest in yourself, start a business, get some investments together, do something smarter than blowing your money on a car, well THAT kind of car anyways. Go get a Lexus
Sure, buy a 360 coupe, then invest the other 400K. You'll enjoy the car a hell of a lot more as a young guy than you will at 53 years old. Besides, you might be dead in 5 years.
You're welcome.. we look forward to your explanation Right.. I think many of us figured that part out... ... kicked out? from school? home? work? BTW, it's "advice".. Is this the aforementioned bonus? hmm.. a lot of that going around these days... ... and are these funds available for the cash purchase of a Ferrari? .. wait a second, a Ferrari IS a commitment... ask the guys who sleep in their garages to stare at their cars. .. actually, no, it's quite difficult to understand... did you mean a "bounced" check? .. no problem... we're here to help... wait a sec, it's "advice" !!! anyone with a 500k bonus needs to talk to someone for financial decisions...! ... and who are these people? you're welcome.. all the best! ~shahedc .
If you did indeed get that large of a bonus, I'd buy the car, but at 172k, it's waaaaay overpriced. It's a 140k car. Use the balance to get a home. Art
I think another point here which is being overlooked is the issue of a very young driver in a very high powered sports car. I can't speak for Toshiba, but I can speak for myself. I nearly killed myself multiple times under the age of 30 and that was with only about 200 HP under my right foot. Toshiba, my advice (note the "c" in the word advice) would be to skip the Ferrari altogether for now. From the sounds of it, your financial house is far from being under control. I don't know the exact specifics of your situation, but so far what you have related sounds somewhat sketchy. As far as financial advisors, you are correct: most suck. In most cases, anyone who is good with money isn't sitting behind a desk pushing mutual funds to mom and pop America. However, if you have $500K or so to throw around, you certainly could seek out a few high quality private fund managers. Of course, that's a skill in itself My advice would be to consult with friends and/or people on Ferrarichat and see if you can't find a few good recommendations to check into (perhaps find yourself someone in a PCS (private client services) division of a bank or hedge fund, etc). Or, if you are smart, get some books and teach yourself about investing. For me, the old "if you want it done right, do it yourself" applies to the stock market and investing just like anything else in many cases. Ray
Hah! There's some truth there. But... as to screw all your responsibilities and blow all your money on a car, even if you have to sleep in it, because you can just think about money to make more happen -- hardly sage advice for young people just starting out, my friend.
OK, let me get this right... 500K isn't enough to buy a house in your neighborhood........but you live there in a townhouse? Make "north" of half a mill......in a bonus, but don't know the difference between "advice" and "advise", not once but twice (in the title and the message), Think the next message out a little better, before you post,.... and by the way, I would put the complete "bonus" in your Christmas Club account at your bank, and by next Christmas you will be able to buy a nice 360, 1:18 scale model.
Plain as day my man. Never let somebody tell you, you can't get something especially a Ferrari. If you want it, go get it. That's how I live my life now. My father passed away at the age of 47 and I can assure you he never saw that coming. He had a heart attack in the gym and it still gets to me till this day. He left behind a 65 Superformance Replica Cobra, and a 67 Shelby Gt 350 all of which we still have today. And I can assure you, he loved his cars and lived every day of his life like it was his last. I have the same attitude he had. Of course he told me to invest in your future and always save for that rainy day. But he always gave me a sign to always treat yourself first no matter what. And enjoy every bit of it. I'm still gonna invest in my future and whatnot, but truth be told who says you'll even have the same mindset when you're 50 years old. I'll always love him and miss him dearly, but his death really opened my eyes. You live for today, because you can be gone tomorrow sooner than you think.
****this took too long to write so it is no longer a direct response to the guy who said i was teaching him to be irresponsible but this post is a direct reply to him and those like him.********* Sry for it's length, read it and apply it. It has nothing to do with being irresponsible, in fact you MUST be a very responsible person to live life as explained. Enjoying life and having the confidence to do ANYTHING you want is the key. AND< YES IT IS TRUE< if you run out of money, think it, act it out and money WILL appear. there are two types of people, those who accept what is available to them and survive and those who make anything and everything available to them and live. Do you believe you can make an infinite amount of money at any given second doing ANYTHING you can imagine? I DO and I have proven it. I don't care if it's a web business, a dog walking business, a painting company, a consultant, an inventor etc.... doesn't matter, those who are truly motivated can make up a money maker within a day and have it running within a week and be riding a wave within six months. I'll share my life with you all a little because what I am preaching is VERY important: Pls. Open your minds and maybe admit you can learn something. This is a little personal so bear with me (can't believe I am posting this but i HAVE TO make this point) Although always a very smart person, I found myself homeless in 1995/6... at the age of 26. I lived in a 1981 Cutlass that I ran out of gas. For the longest time, I was scared, depressed and shocked how this could be happening. I mean, I aspired to be an actor/comedian and was pretty good at it actually in the years before I ended up living in that car. (that career goal had nothing to do with why i was now homeless and broke btw) I always thought BIG so to be feeling so small took A VERY LONG TIME to accept and eventually to change. I had zero money, zero credit, never had a credit card or a checking account, knew nobody, couldn't call anybody and ask for help and no plan. I almost tried to convince myself that it was a good thing and I would have no worries other than where to get some food. Then one day as I was out for a stroll, I saw a Black Ferrari pull into the parking lot by which I was standing. At first, I said, F him and whatever.... blah blah blah.... Then, he got out, walked around to the passenger side and opened the door for his wife...... and a baby that was apparently sitting on her lap. That's when I started paying attention. She turned and sat the baby on the hood and the three of them just stood there holding each other and laughing and smiling (maybe waiting for someone else cos why else would they be standing in a parking lot unless they just wanted to stretch after a long drive). This was about 5 months into my homelessness and I started crying like a f'ing baby. This was the first time I had released any emotion about what was going on with me. I was crunched down under a tree aside the parking lot sobbing thinking that is what I want. ...... Not the Ferrari. Not the baby. Not even a family or love necessarily. What I wanted was security, relaxation and fearlessness. I just wanted to be able to smile again like they were (even the baby). In the equation of life, those three things equal peace. And with peace comes all the love, motivation and goodwill anyone could ever give or receive. You can't have love if you don't have peace. Most of those thoughts were put into the many songs I wrote while in that car. I went back to my car saying F this, I'm too smart to sit around and wait for a miracle. I gave lots of thought about the world and how many different people there are. Then it hit me, THAT'S IT! That's the answer! Oh my God, what a simple answer. The simple fact that there are so many people with so many differences means that no matter what I did, if I did it well, It would work. I broke it down to the most simple thinking. I thought no matter what I made, built or invented, there were enough goofballs in the world that would buy it for me to be a millionaire if I wanted to. But since, I didn't really have the means to invent anything (although I have ideas lol), I decided to do house painting for people wherever I could walk to. I had painted before for years back in Boston and was very good at it. I realized that although I look like ****, I was still smart and knew how to talk to people. I cleaned myself up and went out seeking work. Long story short (too late) I named my company Coral Concepts and with the first job money I got, I had business cards made. I also had to have the first client go buy the supplies themselves and bring them to their house so I could just show up and start painting. (I had no money and no way to get to a store obv) It took some smooth talking but it worked out great and I ended up doing almost the whole interior of their house. It started with just a bathroom for 300 bucks and turned into most of the house for almost 2k. HUGE money to me obviously all while totally homeless. I would shower in their back yard when they left for work using their outdoor pool shower. I used the money for business cards and food of course and begged them for referrals and got 2 from them. YIKES, Good Lord, I am going to long with this, what's this an autobiography.? LOL anyway, point is...... I wrote down hundreds of ideas and have done many of them since. Since those days (not long ago) I have owned 2 houses and a condo on the beach, owned 2 NSX's, an Aston Martin and 2 F430's. Have all the toys I ever wanted and used to dream about while sitting in that Cutlass for so long. I am on TV most every month, I am published in a few magazines, there are thousands of articles about me in other magazines and online there are over a 700,000 web pages containing some thing about me. If the things I do now suddenly fail, I will just pick a few more and make a living that way. And none of what happened to me was an accident, nobody saved me. Well, maybe someone did.... maybe it was that family in the Ferrari, maybe they were my miracle. LIFE IS EASY, fear makes it difficult. STOP BEING AFRAID!!!!!!!!!!!!!!!!!!!!!!!! people confuse responsibility and saving money with fear. the reason people save save save and plan plan plan financially is because they have no F'ing clue what they would do if they lost their current means of income so they are preparing for the possible end. it is a normal human thought process but what it really is ..... is FEAR! Once you aren't afraid anymore and have gained the confidence it takes to 100% KNOW that no matter what happens you will be ok and completely happy, then you are free to live. So thats' why I preach as I do. Because I am no longer afraid. When I had a job with 400 employees but still bosses over me, I never worries about being fired, laid off or none of that crap. WHY? because I knew I could just make money doing anything in the world at the drop of a hat. And I still know it. so, bottom line is ..... BUY THE CAR and teach yourself motivation, confidence and fearlessness. and if you can't teach yourself that stuff, I hope you lose the car and want it back so bad that you just find a way to go get it again and that's the way you'll be taught. by the way, you should have seen the look on the printer's face when I ordered business cards with no phone number or contact info on them.... heh. I'm sure I had the only ones in the world. He didn't say anything but I could see his mind saying, 'um, what's the point' LOL....... They definitely made it more professional looking. I would stop by that first client's house periodically to see if they had an address for anyone else needing painting. Then when I would get to their house, they'd say Mr and Mrs XXXX gave us your card but there was no number on it. I told them that the printer screwed up and I thought I had thrown all the bad cards out LOL. oops.
+1,000,000 my friend! I'm 22 working online and this is the way I feel. I just bought my first house and am soon going after a Lotus Exige S 240 in Aspen White. I'm saving up for the down payment now. I go after whatever I want. I play drums, guitar, bass, piano, sax, duduk, and many types of music on them. I am extremely physically fit, training using crossfit and ross enamait's workouts. People think i'm ridiculous and crazy for being passionate about life as I am, and fearlessly going after things I want. They think it's dangerous. But I'm the one making the money and getting what I want. What do they do? They sit around and are afraid to try anything. They think they can think about life until they find the magic thing they're supposed to love. Dohhhhh....!
Thanks for sharing your story and your background -- that is very inspirational for everybody. I guess I'll ante up too. I bought my first sports car (a nearly-new 928) and sailboat while I was still in college and held down two jobs to afford them; more recently I abandoned my cushy career in software after some 15 years to return to school, got a law degree, and am now a lawyer specializing in intellectual property. Oh yes, I went to law school in the evenings while working full-time, being a homeowner and supporting a wife and two kids. And my family was the first priority all the way through -- they are the center of my life! My point is that there's a difference between enjoying life, having fun, and getting what you want including the boy's toys (all good and BTDT) versus being irresponsible to your family and/or throwing your money away. I think we are all in agreement here. Thanks for posting. Cheers, Rick
Cool Rick, I did the same thing - was a software engineer and went to night law school and became a patent attorney. Worked for a few large firms and stepped out of the box took a risk and started my own practice about 8 years ago. Funny thing is I did not enjoy patent law that much until I started working for myself as my own law firm. I love running businesses and now have several different companies completely unrelated to patent law. The point that most here are making is to not be afraid of change or taking risks and never listen to naysayers (there are lots of them). The thing that really got me started and let me "see the light" of risk taking and taking control of your future, setting goals, etc. was a set of tapes I bought for $1 at a yard sale while out mountain biking one day called "Psychology of Achievement" by a motivational speaker named Brian Tracy. You can buy them on ebay for $10. I used to listen to these on the way to and from work and these are great for giving someone a roadmap about how to redirect your life the way you want it and not be stuck in an average job with average pay working for the man. Many previous posts in this thread tell stories of how we each got where we are, but those or other tapes/CDs really get to the details of what it takes to alter your mindset to make it all happen. So if someone reads this and says that's great for all you Ferrari owners who have already made it but how do I do it myself - get off Fchat and go over to ebay and buy any set of success tapes/CDs (there are several out there and I have listened to many and the message is basically the same - that being you have to change your way of thinking to get out of the rat race). These should be required listening for everyone in high school.
.........half mil bonus, huh...... renting ? buy a car over a house ?? half mil bonus huh........... Buy the following --- your girl the biggest set of silicone fun bags possible, some really good cigars, lots of booz, gamble your ass off at the high stakes tables, maybe a few atari games, a gumball, some good reading material, preferably hustler, then the rest on a good used 1972 chevy vega. . Image Unavailable, Please Login
If you are that unsure, take your bonus and buy triple tax free bonds getting you close to 5%......then buy the ferrari by structuring the car note to closely match your bond interest....then you will be driving the ferrari for "FREE" and still have your bonus money in a solid investment.....cris
I love it, lol - this is probably better way to make it all happen and certainly more fun than listening to bunch of boring tapes. Hey Ray - cool day trading website and CNBC video - no mention of Ferrari habit in the interview however. I will have to check it out - there is some great action in the market right now.
