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tips to owning a Ferrari one day?

Discussion in 'Ferrari Discussion (not model specific)' started by Trance, Aug 24, 2011.

  1. toggie

    toggie F1 World Champ
    Owner

    Nov 30, 2003
    18,453
    Virginia
    Full Name:
    Toggie (Ron)
    #51 toggie, Aug 26, 2011
    Last edited: Aug 26, 2011
    Yes, we'll be there for the C&C in Leesburg.
    Send me a PM when you know your schedule and maybe we can go for a local drive in the cars.
     
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  3. ReinD

    ReinD Formula Junior

    Sep 16, 2010
    464
    [ame]http://www.youtube.com/watch?v=-D6zaMsZF6E[/ame]
     
  4. ReinD

    ReinD Formula Junior

    Sep 16, 2010
    464
    [ame]http://www.youtube.com/watch?v=fEJA4-8WiWU[/ame]
     
  5. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    31,039
    Calling a penalty
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    Mike
    Don't drink, smoke, or do any drugs.
     
  6. anunakki

    anunakki Five Time F1 World Champ
    Rossa Subscribed Owner

    Oct 8, 2005
    55,829
    Las Vegas Nevada
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    Jerry
    [ame]http://www.youtube.com/watch?v=IHw5hnCYoXM[/ame]
     
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  8. CMartin348

    CMartin348 Formula 3

    Mar 18, 2008
    1,949
    Minneapolis, MN
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    Casey
  9. CMartin348

    CMartin348 Formula 3

    Mar 18, 2008
    1,949
    Minneapolis, MN
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    Casey
    Sounds great! Will shoot you a PM as it gets a little closer.
     
  10. mlambert890

    mlambert890 Formula Junior

    Apr 2, 2002
    389
    CA
  11. PV Dirk

    PV Dirk F1 Veteran

    Jul 26, 2009
    5,401
    Ahwatukee, AZ
    I think of the old addage, you get out of it what you put into it. You don't have to go to a great school to get a great education. The problem with the college degree today is many students go through the motions without learning much. What it does give you is a key that will open a few doors in corporate America. The job I have tends to be on the blue collar side however the company requires a college degree. They will not hire someone without one. I personally think it is short sighted but those are the rules and I speak to many people with years of experience who want onboard who would be great who won't get considered. Again, this is just a large corporation, and in accounting you'll likely want the formal education, just suck as much out as you can and be good at it.

    Also, avoid debt while in school. Nothing wrong with being broke. I worked 40 to 50 hours a week a lousy jobs in the beginning of college and I didn't slow down until my last year. Working those hours you do lose much of that "college experience" being the downside, but I purchased my first home 1 year out of college. Don't forget to talk to your professors. I got a paying job working for a local CPA when I was studying accounting through one of my professors. That was pivotal because I decided I hated the work and changed directions in a big way.

    Buy a house before the Ferrari. Just my opinion. I hate seeing nice cars sitting at mid grade apartment buildings getting dirty.

    I'm certainly not overly successful so I'm sure some here will argue my points with better suggestions.
     
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  13. Trance

    Trance Formula Junior

    Aug 11, 2009
    352
    Nashville/Knoxville
    Full Name:
    Pouya V
    So you guys think I should get my masters or bachelors + CPA certification?
    I know for CPA you're required a bachelors. but if I'll be more successful with a masters then I might as well take the extra 1-2 years
     
  14. anunakki

    anunakki Five Time F1 World Champ
    Rossa Subscribed Owner

    Oct 8, 2005
    55,829
    Las Vegas Nevada
    Full Name:
    Jerry
    You should do what you are passionate about.

    I know many people who went to law school because they wanted to make Ferrari money, not because they loved the idea of being an attorney. Well, after years of school and lots of tuition costs they are practicing attorneys making great money working 70 hour weeks...and miserable.

    Driving your Ferrari during the very rare free time you have does not make up for being miserable the other 90% of the time.

    Make sure you are following the right path.
     
  15. Trance

    Trance Formula Junior

    Aug 11, 2009
    352
    Nashville/Knoxville
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    Pouya V
    Great post Jerry!
    I took an accounting class in high school and quite honestly I see myself being in that field more than anything. I'm Iranian and in the Iranian culture many parents try to get their children to become doctors or lawyers. My parents tried that on me but it's just not something I want to be/like to do. But being an accountant seems like a pretty fun job from every accountant that I've talked to. They've told me they have very flexible hours and are in a great working environment.
    But now I'm just wondering if it's worth the extra 1-2 years of getting my masters in accounting or whether I should just go for bachelors + CPA.
     
  16. brownsgolf

    brownsgolf Formula Junior

    Dec 18, 2007
    918
    Western PA
    Full Name:
    Dan
    Not sure if you know this, but to get a cpa now requires 150 credit hours. A bachelors is normally 128, so a masters makes sense at that point. Good luck on the future, I'm working on the exam right now

    Sent from my ADR6400L using Tapatalk
     
  17. tjacoby

    tjacoby F1 Rookie

    Nov 1, 2003
    2,856
    Vancouver Canada
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    tj
    haha, that's funny; I forgotten that years ago I'd so badly wanted to be a Doc. until I realized about grade 6, that they had to talk to the general public. scratch that off the list :)

    There was a study done a few years ago, don't remember the criteria but the results were - maximum average happiness/satisfaction was found at ~$80k/yr income.

    As many others have said, a life well lived is the only goal. Work and toys are but an influence on the path :)
     
  18. Trance

    Trance Formula Junior

    Aug 11, 2009
    352
    Nashville/Knoxville
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    Pouya V
    Oh true true good point.
    and plus masters would probably help on the exam a lot too I bet.

    Good luck to you on the exam! let me know how it went!
     
  19. D-360Ag

    D-360Ag Rookie

    May 30, 2011
    35
    Vancouver, BC
    I have a brother who got a BA, then his CA. He took his time, and travelled through the company (big famous accting firm), and is now one of several personal advisors to just one guy. He looked all through the system and found what he liked. On the other hand both my sisters took it less structured, and one is happily bookkkeeping, and the other is an Asst Branch Manager in her bank. All are happy with their positions, though their compensation covers a very very wide range.
    Keep your eyes open, ears open, make friends, give it all you got, make people glad to have you involved, look for that niche that has your name on it. Me? I went into research, retired early, got lucky (x6) on the market, and bought the 360. But I never felt like I was ever "working". I looked forward to Monday mornings. Balance.
     
  20. wang

    wang Formula 3

    Feb 23, 2004
    1,887
    Brunei
    Full Name:
    H. Wang
    Have it firmly in your mind that a ferrari/exotic car is something that you would like to achieve.... Whichever route you take will bring you to your goal through your efforts, perseverance, planning, etc etc....

    Just make sure it's legal cause you can then enjoy your Ferrari with peace of mind :)
     
  21. Trance

    Trance Formula Junior

    Aug 11, 2009
    352
    Nashville/Knoxville
    Full Name:
    Pouya V
    Yes! I believe making connection is the key for getting successful. I think I'm pretty fortunate for being born in a family who cares a lot about me and has many connections to a huge community of friends/families.
    I was trying to find an accounting internship for my freshman year of college, but everywhere that I've looked the minimum requirement is "Atleast a junior"
    So for now I'm just trying to suck everything in so when I'm a junior I could set an application and get somewhere from there.


    Yes hopefully
    I read a research article about how guys think about sex every 8 seconds. But I think for me that's not true. I think about Ferrari's every 8 seconds :D
     
  22. F430GB

    F430GB F1 Veteran

    May 5, 2008
    6,000
    Reno, NV
    Full Name:
    Gil Folk
    Ferraris...sex...same thing in my book. :D ;)

    -G.B.
     
  23. BAKY

    BAKY Formula 3

    May 23, 2007
    1,274
    USA
    Full Name:
    Bobby
    1. Unless your going to college for a specialized field like medicine, etc. You need to realize college is going to institutionalize your thinking. College doesn't teach capitalism, the system which America is based on, it teaches people to work your way up the ladder, retire, and live happily ever after. Lol cough cough

    2. Get numb to the words no and you can't.

    3. Remember persistence beats resistance.

    I will say sometimes the journey is as much fun as the destination so remember to enjoy the trip!
     
  24. crcs

    crcs Formula 3
    BANNED

    Apr 18, 2009
    1,306
    Burlington Ontario
    Those are good points. At the end of the day if you are not happy whats the point? 90% of people out there do what they do just to survive.
     
  25. italiafan

    italiafan F1 World Champ

    Jul 19, 2006
    10,801
    FL and NC
    Full Name:
    Stickbones Swagglesmith
    To the OP...READ this post over and over and over again.
    It contains wisdom born of someone who knows of what he speaks.
    You got that advice for free, and you'll never be able to buy better advice for the rest of your life.
     
  26. jbtrader23

    jbtrader23 Karting

    Apr 20, 2004
    174
    Los Angeles, Ca
    I'm 33. I don't own a ferrari, but read this board occasionally.

    -College is VERY dubious in this day and age. Look at the growth of these for profit colleges (i.e. University of Phoenix). If you're into something like medicine, accounting, engineering, etc, that's great.

    But colleges do not teach you how to THINK. It doesn't teach the guts of what makes this country work. I graduated with a degree in finance from a decent state school in cali ('04).

    Some of what they were teaching is -Terrible-. I.e. efficient market hypothesis, people are rational.....much of financial theory got blown out, or certainly questioned in this 08 crash/depression. College is about books. But the real world can be completely different.

    -Do your own research...i.e. youtube videos, amazon. Awesome resource for those in their 20's or 30's looking to get ahead. You can know more than your professors in some subjects. Find some role models. I.e. people that started in one thing, and ended up somewhere else.

    I think a good college education today would be half in class, half on your own (internet, your own research).
     
  27. mixxalot@yahoo.com

    mixxalot@yahoo.com Formula Junior

    Feb 9, 2006
    347
    Carmichael, CA
    Full Name:
    JD
    First, you are on the right path to major in a useful field like accounting and goal to pursue a CPA and that you have the passion for it. I also want a Ferrari someday and have the following tips:

    1. Live frugal as much as possible but enjoy simple luxuries.
    I cook most meals and have a home espresso machine to make lattes and cappachino drinks. The machine cost me $300 new and after a year paid for itself many times over. Now I pay only 50 cents for a nice latte that used to cost me $3 at Starbucks. I rarely eat out unless its a lunch special buffet or rare treat. Most people eat out and wonder why they are always broke.

    2. No cable- use free internet movies available on Hulu and so forth.

    3. Exercise and find cheap hobbies. Fitness is great for body and mind.

    Plus Ferrari seats are notorious for being thin and you need to be fit to sit in a Ferrari comfortably.

    4. Invest- pay yourself first. Once you start working, max out your 401k and ROTH IRA if possible.

    5. Meet owners in Ferrari clubs. Thats my plan to build contacts and learn which car I like the best.
     
  28. bulletproofwallet

    Mar 2, 2011
    197
    San Francisco

    and in san francisco I have dated many many many miserable women who took on that exact path in law and they totally hate it.
     

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