Frustrated

If you are making 100k or more per year and you can't get ahead, you are spending too much. Can you downsize you home? If you have more cars than you need, sell one or trade one in for a more cost effective car. ie: better gas mileage, cheaper insurance, cheaper parts etc.... Do you spend money on golfing or other sports, movies, dinner out? I know it will be tough but not buying name brand things can save you some cash {I don't do this, it's hard to still find quality, plus I hate shopping}. If you have investmaents, look at them closely and decide if they are still right for you. If you have more than one cell phone, get rid of one. I have yet to make 100k in a year and I seem to be ahead of you. I'm not being an ass but I live in a 5 bedroom, 3 bathroom house with two huge yards and have three cars. I'm still able to put $8-9,000 a year into the bank for rainy days. You are in charge of your money, if you buy a lot of vrap you don't need then you will be working to pay for it instead of saving/investing whatever. I'm moving next summer, into a smaller house, closer to work and I might sell two cars. I will pay less in heat, tax, property tax and to boot this thing in the ass, it's in a better part of town where in 5 years the hose will increase in value. I would love to live the rockstar life, buying whatever I wanted, flying all over the world,and whatever else comes into my head, but that **** costs coin. Coin that could make you more coin and more and more...
It's free advice, the only kind you can afford to take all of the time.

 

Not sure if this will help but it's worth a try:

http://www.score.org/

 

Nick, I admire your attitude. I have no doubt that you'll be driving a Ferrari soon. If you can give me an idea as to what kind of work you enjoy doing, I'll check around and see whut's up.

Take Care, DrTax

 

Nick, I'm in the similar situation too except I don't bring in that many digits yet. But I am also 24 and I want a 355 just as bad as you do. I'm very fortunate that my father left me a few properties before he passed away. My plan is to buy more houses and take after him. I’m still working and planning to further my education as well. Every week I get mail from people wanting to buy my properties, but as usual I toss them. If your business plans are failing, you can always go or look into real estate /invest.

Being young and owning/driving a Ferrari would feel great! I can probably buy a Ferrari right now if I want to but I'm thinking bigger. I figure in 5 years or so I would still probably look young (the same). Maybe that’s when I'll buy that 355 and have it parked in my mansion instead of house. Just kidding about the mansion part but I’m sure the 355 will have a nice home to park in.

Making a lot of money in the early age is a good start but "sacrificing/budgeting and having patience is the key." Don’t worry about getting that 355 in the future because that car can never age! I know most people at an early age want everything now. But having everything now can cause consequences in the future (just my opinion). That’s just how I do things. But whatever you decide to do Nick, good luck. And I know you will do just fine.

John

 

John,
very good post & well said! Respect buddy!

Wolfarossa
FORZA FERRARI