Money and the R8

[bneale09]

Hey all,

I read a post on here about "how to afford the R8" and it was very interesting, but I found myself more and more curious as I read the posts. A fine piece of engineering like the R8 is something I just salivate at right now being only 19 and poor. I don't plan on buying anything like this in years, but now is the time to make the decisions to get me the money that will allow me to do some fun things in life like own a fun amazing car like the R8 or the next supercar in the future.

I know most of the people on this forum have to be pretty successful financially to afford this car. So I was curious as to what professions some of you are in that allow you to make such money. Also any tips or ideas you have to making/saving money just anything related to this topic!

I know some of this information may be personal so you can email me or keep it more discreet.

So you know some of my career interests (as I go through college) are:

Cardiology
PA
PT
Orthopaedic Surgeon
Investment Banking (stock analysis side probably)
I'm a college student so I'm indecisive about my future as of now : (

email is Neale0991@hotmail.com

Thanks!!

[M3R8]

Whatever career path you choose, and it really does not matter in which direction it is, be the best you can at it and make sure you stand out. Your chosen profession should ideally be something you're passionate about, and something you end up loving, that would also help your chances of success.

You can be rich running a great pizza shop, or you can be a poor (relatively) cardiologist, so profession really doesn't matter, although it may certainly help.

Then once you've saved enough money to buy an R8, don't. Keep on saving. It's wrong to spend all your money on one thing, let it be a car, a house or any other possession.

[randombloke]

Sometimes in life you have to take risks and you also need rewards to help motivate you along. You can spend your money on anything you like - no 2 paths through life are the same and sometimes even the aftermath of failure is the foundation for success.

As for career paths etc, there are a myriad of routes to being able to afford an r8 - pick the area that interests you most and you will find it easier to put in the work. Take opportunities where they arise and keep at it.

Good luck!

[mark25]

I was in your position once and I found cars to be great motivational tools. I have just turned 26 and when the R8 came out it was my dream car but never thought I would actually be in a position to own one. I made sure I bought my house first tho as cars are rapidly decreasing assets and wanted to make a smart financial decision before a bad one (still an awesome one tho). I set myself my goal of owning an R8 4 years ago aiming to own it by the time I was 25. Started saving properly about a year before I turned 25 and worked harder than I ever had before and managed to buy one just before my 25th birthday. Had the car a year now and still love it. Trust me mate the hardwork will be worth it and it will mean so much more to you the fact you have earnt it all yourself. Fairplay!

[Newspyderv10man]

You can be successful in most any profession.

Be focused, loyal and work hard and do your best and I dont see how you can lose.

Once you figure out the path to success it just a matter of time before you meet your goals!!

[M3R8]

You can be successful in most any profession.

Yep.

Be focused, loyal and work hard and do your best and I dont see how you can lose.

Not true... you can most definitely lose even if you work hard, are loyal and do your best.

Once you figure out the path to success it just a matter of time before you meet your goals!!

Absolutely right.

[mngolfer]

The most powerful thing in the financial world is compound interest. Save 15-25% every pay check and invest in a broad range of securities. It is amazing how the funds will start to add up.

There is great risk and also reward for being in business for yourself. Find your passion, not always easy to figure out, and go after it.

[ReelGuy]

Much of what has been offered to you is correct; work smart, do something that you are passionate about, look for opportunity.

The unspoken piece of all the advice that we give you is that YOU control your own destiny. What you choose to do, and how you do it, is a personal decision.

After receiving my business degree from college, I worked for 5 years as an unpaid intern in the film business because I loved watching movies. My friends thought that I was nuts. So did my folks. Imagine their surprise when I won an Oscar for Best Picture. I have had no money, a little money and a lot of money. What I found out was that the first two are fine if you love what you do. By the time you get to the third part, the money makes life more comfortable, not happier. Best of luck..........

[ignomini]

I agree with everybody, but what's lacking are the simple things to do at the outset.

Pay off your credit cards every month.

Save, save, save! Put aside some amount of money every month for savings and/or investment and don't take a month off.

Don't buy drinks and dinner out for all your friends all the time. Keep the money for yourself.

Wait to have kids until you have your financial foundation in place, and don't get married unless you are absolutely sure it's for life. Divorce is financially brutal.

Before paying early termination fees, ask yourself if you really need another new cell phone (this applies to every impulse purchase). Make yourself wait a couple days and ask yourself if you still need that shiny new toy.

Always spend less than your income. Always. Maintaining a positive cash flow will pay tremendous dividends 15-20 years down the road.

Be patient about having physical possessions. Dammit, just turned into my parents.

I make my living selling car parts. No glamor there, but having slowly learned the lesson of controlling spending and avoiding debt (especially high interest things like credit cards), I wound up able to pay cash for my R8.

Being a life long bachelor has helped too. How much does an ex-wife and kids cost over 18-20 years? I don't recommend reclusiveness for others though. Most folks need family around. I just happen to be anti social.

[mofomat]

Buy high, sell low. Or is it the other way round? Not sure. Good job I'm an air traffic controller then and not a stockbroker.