Sick brag or self deprecate, but be truthful

Topic inspired by iloveferrari and Shark01 in another thread saying, “to him, all FChat owners are super rich.” I’ve often felt the same and definitely that I’m one of the poorest owners. I am actually curious just how many of us are actually that well off…. Or not. I’ll start:

Play along if you’re not afraid to be very personal

Single/54/no kids

*Ferraris/exotics owned:
F8 Tributo (current) 2 F430’s, Aston Martin Vantage, 2 NSX’s gen 1, AMG GTc Roadster.

*Self employed/job/retired/trust fund etc:
Job plus poker player and a SMALL business.

*Property owned: yes/no?
None. I rent a townhouse (have owned a house and a condo previously)

*Stocks/investments:
No individual stocks, just a small 5 figure 401k balance

*Crypto:
invested about 7k a couple years ago for the first time. Worth about $1300 now.

*Annual income:
Job - $180-$300k
Business - $0 or less
Poker - variable 5 figures

*Liquid savings:
Only twice have I ever been up to 6 figures— and both times, I bought a Ferrari Currently high 5 figures. — ooh wait! Guess I’m close to another Ferrari! Weeeeeeeeee [emoji23]

*Equity:
$175-$200k in car equity

— point: whenever someone says I must be rich when they see my cars, I say, “I’m not rich, I’m just irresponsible…. But I have fun!”


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I like the line item "Single/54/no kids".
Mine is "married/54/no kids" Which explains why I don't have the list of exotics in the next line item.
I can't wait to show this to my wife!
I also like your saying:

I completely agree

 

Peoples observations of others is interesting. Some are very fortunate and have a great deal of disposable income. Most make sacrifices in some area or areas of their life to have what is important to them. Outsiders understand that to varying degrees. Some make sacrifices to put kids through the best schools and everybody gets that. But when it is for a car or cars people make different assumptions.

 

No one wants to play along? So many threads and posts asking what it takes and how people afford such cars; just trying to give real world numbers to quell all assumptions and disillusions while also showing what’s possible for those that often ask.


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I looked around an hour ago at the most beautiful blue sky with dots of puffy white clouds here and there, early spring here in CT, as I grabbed my tennis racket out of my bag and jogged out onto the court. The sun baked wonderfully into my sweatshirt. It was about 56 degrees. THAT is super rich to me.

 

You only have to spend a few days on Fchat to see the wide range of preference. Plenty of threads out there of people saving up to get their dream car or even building it themselves. Sometimes the poster is better than the real thing...

It doesn't matter if you have one car, a big collection, or done with Ferrari ownership. Everyone has a budget and circumstances and at the end of the day owning any type of sports/luxury car takes a meaningful amount of time//energy/money to sustain.

 

Single (divorced awhile back), 49, never had kids. Wasn't the plan, just worked out that way.

I don't take fancy vacations, don't have a 2nd/lake house, don't have a boat, no RV either, fly coach, and have a cheap mortgage.

 

You really only need 1 number = (actual) individual net worth (i.e., married people must divide total net worth by 2 -- or how by 1 + however many spouses that you have ). Adding an anonymous poll would get you more responses -- and not require writing a novel.

 

lol, agree but don’t know how to do that and also didn’t put much thought into it… also, wouldn’t even know what net worth means or how I’d calculate it. I guess I’d be a negative number if it means value of assets minus amount of debt.

So there’s my answer- negative net worth. Just work month to month and pay the bills. And repeat.


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I bought my 488 when I was 35. I had always wanted to own a Ferrari. It was an itch that I had never been able to scratch and couldn’t shake.

I remember looking at an R8 while I was shopping around. It’s a great car! But I remember leaving the dealer, going home and thinking to myself that the little kid in me never had any desire to buy an Audi one day. It dawned on me that there was not going to be any rationality to this purchase. It was a purely emotional box that I was wanting to check off.

I had set a static financial goal of liquidity that I felt I need to achieve before committing to a purchase as significant as a late model Ferrari. I was a tiny bit shy of that goal. Meanwhile my dad had been going through a terrible series of medical problems and I had a front row seat. It was a really tough thing to witness.

I spent a lot of time brooding over being responsible while very much witnessing my dad’s not so great health and wondering why I shouldn’t buy something I’d always wanted while I’m still on this tiny dot called earth. I said to hell with it and bought the car. Money is important, being responsible is important, but you do need to live a little.

My income is derived from investments/ownership in the family business. The market was really humming when I bought my 488! I eclipsed the static number that I lightly skirted when I bought my car the following fiscal quarter. Despite buying the car and a different house.

Today I have a combined household with my girlfriend and our daughter. Our nanny is the sole earner for her household of 3 people. My house is 50 years old and needing some not so cheap renovations. I’d love nothing more than to add a 12 cylinder Ferrari to compliment my 488, but life isn’t blowing me that direction any time soon. And that’s ok. I’m truly thankful for what I do have.

 

I will play along. I'm mid-fifties, divorced and happily remarried, with four kids, three of whom are currently in college and one is, thankfully, through college and gainfully employed. I'm a full time employee, part of senior management at a small cap public company, and doing well enough that the kids' educations are fully funded, and we have nice balances in various 401k, IRA and investment accounts. I look at them periodically and kick myself for not investing in bitcoin when I first heard of it. My wife retired last year. We own our modest home, but have a mortgage on it at a low fixed rate. We like to travel, but we aren't luxury travelers by any means. We don't have a boat, second home, private plane or anything like that. My wife plays a lot of tennis, but we aren't country or yacht club people, either.

I got my first Ferrari just a few months ago. It's a 1986 Testarossa. I also have a 1987 Buick GNX that I bought last year. The Testarossa and GNX were my "poster" cars as a teenager. They are the first real "splurge" purchases we have ever made.
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I had actually thought of making this same thread after the "problem with Ferrarichat" thread as I stated and maintain that I am probably among the poorest on this site.

I've said this before, but I didn't have my first W2 over $20k until I was 31...you read that right.

Salaried working stiff. Mid forties, married, 2 stepdaughters and 2 grandsons. No bio children unfortunately but have had 1 stepdaughter and grandkid live with us for a year while she got her life together and still help them whenever I can.

2 indoor cats and somewhere between 5-137 outdoor. I feed and fix them all.

All in all, with home equity, assets, guitars, cars, stocks, 401k etc. minus debt, I do have a positive net worth, 6 digits but probably less than many on this site make in a year. but more than Ron DeSantis "claimed" to have while running for governor. I don't keep a ton in savings but I have an HSA I max out every year and I keep a 5 digit emergency fund that I've definitely had to use, then make back up.

2300 sq ft house in a rural community I bought in 2016 for less than half of what it is worth today, probably a good bit more due to the remodels I've done with my bare hands for pennies compared to what a contractor would charge including gutting the master bathroom. Took out a 30 year mortgage at less than 3% so no real hurry to pay it off, although I'll get tired of paying every month eventually, which is what usually happens with me and loans.

4 cars in my name, I still owe $30k on the Z06 I bought late '22 for almost $70k, the Ferrari I bought in 2016 for a similar amount was paid off within 3 years of purchase by buying and selling stocks, but my company's stock TANKED right when I bought the Vette so I'm holding out for a bit before selling more and paying it off. Wife owns 1 car. Ferrari has appreciated significantly since purchase. Vette not so much (my previous C5Z I sold to get this one did though).

Wife and I keep $ separate for the most part, file taxes together, we make lower 6 digits...she works part time and makes less so she pays for groceries (she does the shopping and couponing so she can control that budget and what we eat 100%), half the monthly utilities and her car loan. I pay all else. She's on my insurance, all health bills are paid for by my HSA.

We go to the beach every year.

I drink Keystone Light.

I'm good.

 

married/WHITE MAN with cats

*Ferraris/exotics owned:
488 (current) 430, 355, nsx, el camino

*analyst


*Property owned: yes/no?
I gots a house

*Stocks/investments:
I got **** but don’t know what. My wife handles my allowance

*Crypto:
I got $67 in bitcoin

*Annual income:
you’d have to ask my wife. I literally know nothing

*Liquid savings:
I don’t even know what this means

*Equity:
is this a pronoun? I already said im a white man

 

Literally laughing out loud by myself at work reading ‘equity? I already said I’m a white man’ [emoji23][emoji23][emoji23]

Yes, if that were an option, I’d choose white again


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You got me there! So good

 

I hope Twosherpaz plays

 

I don't judge my personal wealth based on money.

I judge my wealth based on life experiences, including being with those that I love and that love me.

By that metric, I am the wealthiest human being that I know.

 

Married/49/2 kids
Currently own a 2022 F8 Tributo and just bought a 2021 911 Turbo S
VP of Software Engineering
Own a home, about $4 million
About 3 million in stocks, grown from a start of 9000 in 2014
Job - 800k
Liquid (stocks above)
Equity in home and cars minus loans...about 2 million


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I emphasized to my family that we are indeed the wealthiest because we have someone no one is rich enough to buy which is our honor through our integrity and loyalty.

I know this is very cringe but this is how I raised my family.

 

I agree…. This wasn’t a thread about wealth really though, is more of a way to see what I assumed to be a vast difference in income and financial stability but yet, still have the same type of cars. DavtheWav and myself are a perfect example of a VAST difference and I’m sure there are some higher than Dave but not sure there are any lower than me lol.


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I'm pretty sure I'm on the low end of Ferrari owners. There's a special list peopke get on for cars like the Daytona SP3. You have to have bought several cars, I was told 7 cars, before you even have the option to buy something like that. The owner of my company is on that list and he loves to call me on the weekend to tell me his cars are faster than mine. HAHA.

I also only chose to buy as a reward for hitting personal financial goals and only when it was an easy purchase. I got a wife and kids and I gotta make sure they're taken care of first.

 

I wish I could have the honor of meeting your family.