Guelph944

Hello, my name is Jeremy and I am new to rennlist..this site is pretty good
right now I am driving an 84 944 N/a but obviously want to one day own a newer porsche...I owned a 924 s back in 2000, then I went on to a Mercedes 190E, Then to a mercedes C230. all those were fine except one thing..they all exceeded my pocket book hahha and actually, so does this 944..it's a pig on maintenance...I wouldn't be driving it if I hadn't went through messy breakup(I lost everything)..had to sell the MB. Now I need to get back in the saddle if I ever wanna run with the big boys so to speak..only problem is I am coming off a 3 year drought where i lost everything I ever worked for. Due to an accident at work that left me somewhat disabled..so i come on here and drool at all your cars and wonder what you guys are doing right and what I am doing wrong..obviously I have to get back into school but for what?what is it that I need to drive a newer porsche from a dealership!! haha
and no I am not gonna be a doctor or anything..just a single guy(2 kids) and a respectable job...
ANY Ideas? I am open to anything since I can't remember much before the accident(electrocution) so like I said schooling is nessessary

Regardz
Jeremy

adie

Become a Porsche Mechanic, that way you get to test drive your own work and make some money doing it. Computers are old hat now and there's no money in it anymore as anyone can set up networks and firewalls, infact most are writing qbasic programs now. looking like everyone wants to fight for there rights nowadays I guess Law wouldn't be a stupid idea.

kilrgt

Money comes and goes.........do something that makes you happy. If i was starting out again...........I think Adie's advise is good, become a P-car Mechanic.Good Luck!!!

P.Po

Regardless of what path you choose, you will most likely need to work realy hard and smart.

Software is still a good industry despite what people may think. I agree general computers suck, but there is still good money in software. The problem is that the market is super saturated right now.

Personally I am trying to get out of developing software and trying to get into sales. A tough move, and I will probably cut my salary by more than 3/4, but I like the challenge.

I agree with adie and kilrgt. A porsche mechanic is a great career... but you have to deal with guys like us all day long! ;-)

-Patrick
(I just bought another '87 Turbo! Woo!)

JimV8

Hi jeremy, glad to have another rennlister around. As far as jobs go your skill sets will have a say, but if you wanted a good job consider heavy equipment or diesel mechanics. The railways and bus companies are really short of skilled wrenches and predictions are that it will be a six figure job before long.

Guelph944

Well thanks alot guys for the welcome...and the career advise...I am not too sure whether computers (although I do like them) will be a smart move right now.
but I do like the diesel mechanic idea. and of course the law. now whether my back could handle the whole mechanic thing? I am not thinking so. like my friend always says, "It's better to be born rich than good looking. But it's a bugger when you're done out of both!"

adie

Are you kidding? air tools, hoists, transmission jacks, Engine suspension, 2 post lifts, quick lift jacks. engine stands, car spits, the hardest thing I have to do is carry the parts to the car, oh and some times I overfill the kettle and that adds the weight. But honestly, if your working that hard you have the wrong tool, most work is just time consuming and needs a logical approach, like if you dint empty the fuel tank it's impossible to remove once half full on your own with the fuel sloshing around inside, or deciding you'll remove the rear brake lines when the rear torsion bar lowers, or a personal favourate, I'll just let the hood slide back a bit ehan I remove the bolts, it should miss the screen. Ok the odd rear wheel bearing may cause problems, I have invested in a 1 inch socket set and a scaffold pole and it's still hard work, but on the whole there are a lot of devices out there to stop you straining.

Rally Guy

Knowledge is power - which can then easily be converted into money.

You don't necessarily need to be "smart" you just need to know stuff that other people don't, and that they see value in.

This can range from spotting an undervalued stock, to knowing about a great deal on a piece of real estate before it hits the market, to knowing WHAT piece of software is going to be needed next - or just that "this" Porsche is really worth MORE than the current sellers wants for it! : )

Look at the VERY big picture and try to spot the trends. Get to know MORE than the masses about those trends and the world will be your oyster.

Big trends I'd watch?

Impending change of gov.
Change in interest rates
Collapse of hot housing market
Aging of population
Changes in gov regulations for "anything"

Just my 2 cents.

Best of luck on the new career - sucky as it may seem - it IS a blank slate - you can create whatever future you want! (Including a new 997 in the driveway!)

RK

Guelph944

Wow Thanx alot guys for the Input..I will definitely look into the Mechanic thing and the other things Rally mentions..I guess the key is the future and predictions and inevitables..we all know hind site is 20/20..

Malanie

I know what you're going through with being disabled and losing everything. I've been going through that myself, and saw my ex go through losing everything too. He was making $$$$ selling computer software. He got laid off, and they hired 4 young guys making 1/4 as much in his place. He was too old (mid 50's) to get hired for another job in the computer industry, even though he was in it for his entire career. He's now selling stuff on a commission only basis, and is making far less than minimum wage. Forget computers. There are too many unemployed guys looking for jobs in the market and most have tons of experience behind them.

I suggest you get training in the renovations market. My house is falling apart around me, and the amount charged by plumbers, electricians etc. is staggering. Insurance companies are coming down hard on anyone with old oil tanks, furnaces and wiring. Look at all of the old buildings in town. Learn a trade. You'll make a fortune.

theiceman

I think Malanie is definitely on the right track . With the "hype" over the last 2 or so decades with high tech and computers we are seeing a real shortage in good trades people. Pick up a trade ( electrician ??...sorry ) get into an apprentiship program and there is GOOD money to be made. The guys lives across he street from me is a union electrician , and lives in a big house, has a brand new corvette, 2 snowmobiles , a honkin big 4*4 and the list goes on .

fc-racer

Go into a field that you are passionate about. If you have a lot of passion, the money will follow. Take the money you make, however big or small and fill up your RRSP to the max every year that you can. In Canada, tax-free compound interest is our best friend. Once you have that taken care of, start to find investments that are cash-flow positive and return a rate that beats your cost of capital.

You can try some pockets of real estate, an example is a 2bdrm apartment downtown Toronto on a low floor will run you mid 200's. With 10% down, your mortgage will run roughly $1250/month. You will pay out maintenance fees of $400 and property tax of $200 for a total outlay of $1250+400+200=$1850. You should be able to rent this place for $2000 easily. Your $20k investment will return $1,800 in positive cashflow every year. I haven't even factored in the actual return you get when you factor in the cashflow + principle paydown with each monthly payment. Don't forget though that there is tax on this income so factor that in when you compare to your cost of capital.

If you get a few cashflow positive investments going, it becomes like income. If you get 3-4 apartments or houses going, you'll have $150x4=$600. That $600 can become your car payment for your Porsche or lease or whatever. If your properties appreciate, you win out even bigger, but I wouldn't sell if you are cash flow positive on a monthly basis.

btw, I'm 30 and don't have any rags to riches overnight story. I have gone the old fashioned route, get into a good company, work hard, work smart, try and do what's best for the customers, shareholders and team members and let the rest take care of itself. One of the best investments I've made is getting an MBA from a recognized school, in my case University of Toronto. I think it will pay itself back within four years, not many investments can do that.

Hope this helps!
Farzaan

951North

Wow this thread is like 2 years old...

How about an update from Jeremy?

For argument's sake I would say if starting out again and now at 30 something I'd go for locomotive engineer, it's a job where much of the workforce is retiring, and you are pretty much assured a job.

Trades jobs are good too but to get anywhere good money you've either got to be the only guy doing it or the best guy doing it...

Jason.

theiceman

Good catch Jason

I never even noticed that . I wonder if he is even an active member anymore..

I hope hes doing okay but I get the impresion he is the type who buys lots of lottery tickets...

951North

Well looking at post history, seems he posted for exactly two months untill a truck backed into his car, my guess is insurance wrote it off and he cut his losses there???

Jason.