mooty

no I didn't, I was just adding more sarcasm to the omelette

TRAKCAR

Positive visualization and luck.
I'm dangerously obsessive so I take it to the extreme and it just happens

Light industrial real estate helps allowing me to spend all I make now while betting on inflation.

Right now too busy to obsess about anything but work, so cash is piling up, no DE until fall.
Scary, its supposed to be the otherway around for me, buy first money appears soon after. I might even make a budget next year LOL.

mooty

interesting, i am opposite. office and flex are tough. but i need a few of those to park cars ;-)

they need to work longer hours. stop sleeping or eating. ramen is ok. serge with his ramen diet made him healthy and buff.



class B/C office are battered.

of course, we must all come up with rationalizations why when waste so much money on cars and time on RL.... no matter how much you make or have.

so, which one of you is bill gates, larry ellison, j chambers? fess up....

M3EvoBR

No Kids here ... I don't know how much my parents spent with me, but I can guarantee you it was more than 250K for 18 years .... probably add a zero to it ... maybe more.

I know better.... just dogs and Porsche
Oh Porsche is business so it's a write off and marketing tool.

Spiffyjiff

hey, no political talk on here!!! (aint that in the rules??)

haha, while i agree with what i am assuming is your underlying meaning i can vehemently add that no, i don't subscribe to the policies (read: ideologies?) that some might perceive as being perpetuated by our current leadership. that said, i think it's a perfectly healthy curiosity to wonder how folks make/have made their $. but i think we have to agree that curiosity is a FAR cry from begrudging someone. you mentioned

and i just think that wondering about simple mathematical statistics re: sources of wealth fall into the "conversation about money". i didn't ask anyone to identify themselves on this board nor would i.

no big deal. i'm not on the offense, just off topic i guess. let's all disregard and move on.

TRAKCAR

I also have no job, no kids, a dog and a RS.

Leigh2

Great question and interesting responses and here's some further input:
In our group of cup racers the saying is "if you can't afford to put it into the wall and walk away, don't race it"
IMO high end cars are not assets but liabilities. Most depreciate faster than condoms and not worth writing a cheque for if you can get a better return elsewhere. They are cash flow items and once the cash is gone it's gone, if you end up with any worth at the end of a finance period it's a bonus. For insurable street cars I finance over the expected ownership period. For example I expect my new truck to be worth 45% of it's new value after 3 years so I adjust the financing so that I have no cash tied up in it at the end of that period and I sell it for roughly what the residual loan value is.
BUT I am in the position where I get an excellent return on capital in my businesses which are by far my largest assets. If I decide to spare some cash flow to buy a car it's just that, a monthly amount as I'm reluctant to pull a large lump out all at once. So I generally defend Buffet's advice and buy appreciating assets and lease (finance) depreciating assets.
If I was an employee where my assets accumulate with after tax dollars I'd make sure I had all of the core basics (retirement fund, kids, house) covered before allocating any cash flow towards a vehicle or any other discretionary expense....
It would have been far easier if my parents had just left me a large corporation or a trust fund, I don't know what they were thinking

P.J.S.

I have 3 kids ages 5, 3, and 3 months -- the porsche is mandatory for sanity... virtually doctor's orders at this point

007DT

Like a business its about Cash Flow. If you need to punt, then punt...

If tracking the car it should be paid for IMO.

3 little kids oldest is 7, Wife (teacher not Dr.), 2 Dogs, Boat...
About to get a new house, so racing is taking a hiatus. Not selling the assets but don't need the $3k weekends right now.
Kids have college well on the way, Family First. That said, the P-Car would go before the Boat as that is a family toy.

007DT

True That!

I warned you.. Going from 2 kids to 3 kids is NO JOKE! Thats when the parenting really starts..

Veloce Raptor

Post of the month

P.J.S.

aint that the truth...
I have a frugal wife as well... that helps...

if the **** hits the fan we can move into "our" car trailer and join the 47%

M3EvoBR

You guys are brave men ... if I had only one like me, I would probably be dead like my father was at 58 years old.
I'm on the same path, with my stress level, ADD, and the fact that you just can't shoot people adds to it... A LOT. Will probably be dead before that, so need to think on the future. Wife is an asset and If I go, she's rich... no worries there.
I wonder what were they thinking when this kind of law passed.

Leigh2

if the **** hits the fan we can move into "our" car trailer and join the 47% [/QUOTE]

Ahhhh now I know why the larger trailer!

85Gold

Stress = More and track time are great stress delivers.

I did the boat/offshore fishing thingy for 25 years while family was growing up. If you think cars are expensive you haven't been into fishing. I spent more $$$ on my 35' Cabo than I have spent on all my cars and that didn't include the other 6 boats I have owned.

Peter