How you guys get a ferrari?? - Ferrari Life
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 23 Old 08-01-2004, 09:38 PM Thread Starter
 
Join Date: Aug 2004
Location: Chilliwack B.C.
Ferrari Life Posts: 6
How you guys get a ferrari??

Hi,
I'm a 16 year old kid and dont know what i want to be exactly in life. My motivation to do good in school and try hard is so one day I'll have a ferrari.

How are all you ferrari owners, the ones that own the modenas, testerossas or anyone over 100k, how did you guys get to your poitn in life.

Like tell me your job occupation, and how old you are when u got 1, andanything else that could help me. Thanks

Wheres my ferrari??
tom_e_rock is offline  
Sponsored Links
Advertisement
 
post #2 of 23 Old 08-02-2004, 06:52 AM
 
Join Date: Jan 2004
Ferrari Life Posts: 613
Hi,

I have no Ferrari yet, but I'm on my way...

I can only give you one advice; A Ferrari is fun, but not when it's the only thing you have... ...make sure you've got a place to come home to, bread to feed you and study hard for a job you love...

...in the end, things will work out you want it to :wink: Just believe yourself...
marcos is offline  
post #3 of 23 Old 08-02-2004, 08:20 AM
Administrator
Elite Member
 
Andrew's Avatar
 
Join Date: Nov 2001
Location: San Francisco
Ferrari Life Posts: 6,320
I wouldn't worry about what others do because there isn't a specific job that gets you a Ferrari. You get a Ferrari by working hard and having a good sense about spending money. If you look in the "Driver's Lounge" section below you'll see a thread about what people do. Read it and you'll see a wide variaty of jobs on this forum.
Andrew is offline  
 
post #4 of 23 Old 08-02-2004, 08:22 AM
 
Join Date: Mar 2003
Location: Almelo, The Netherlands
Ferrari Life Posts: 2,211
just saving money and keep dreaming. If you really really want one it is almost always possible. even with not a that good job you can save money. You won't have an Enzo then, but a 308 must be possible.
Dr. Bob is offline  
post #5 of 23 Old 08-02-2004, 09:16 AM
 
Join Date: May 2004
Ferrari Life Posts: 476
Here is some advice my father gave me when I was your age. Listen too it because I didn't. I wish I had.

Take and invest $1,440.00 a year. That's $120.00 a month from when you're 18. Over the years you should be able to get 10-12% annual return on your money in long term investments. We're primarily looking at the stock market and other investment opportunities. With that diligent investment by the time youíre 58, retirement age, youíll have in the neighborhood of $1,000,000.00 in your name. $1,237,165.04 at 12% return or $ 701,066.61 at 10% return.

What does this mean? Well this means you donít have to make six digits a year to retire wealthy. It also means that if youíre diligent from when your young about saving youíll have a little more disposable income than most because youíre already on your way to being secure when youíre old.

Always pay yourself first. Stay out of debt. Use cash not credit. Let compound interest work for you. You can make $30,000 a year and still retire a millionaire and still have a comfortable life. Ferraris come to those who know how to manage their money. Start saving. Go to college and study hard at what you love. The rest will work its self out.

Compound interest is a wonderful thing:

http://www.moneychimp.com/articles/f...s/fmfutval.htm
senna21 is offline  
post #6 of 23 Old 08-02-2004, 09:57 AM
Administrator
Elite Member
 
Andrew's Avatar
 
Join Date: Nov 2001
Location: San Francisco
Ferrari Life Posts: 6,320
Charles,

Please let me know where I can get that high interest long term. You are so right about compound interest. It is a beautiful thing. But you also have to take into account inflation. When I'm 58 1,000,000 will not be what it is today.
Andrew is offline  
post #7 of 23 Old 08-02-2004, 11:17 AM
 
Join Date: Sep 2003
Location: Cambridgeshire, England
Ferrari Life Posts: 770
Quote:
Originally Posted by Enzo250GTO
Please let me know where I can get that high interest long term.
Hmmm - I'd quite like to know that too!!!

Fantastic and absolutely correct advice though.

tom_e_rock - study hard, work hard, save hard and be determined to be the best of whatever you decide to do.
Bazil is offline  
post #8 of 23 Old 08-02-2004, 03:58 PM
 
Join Date: Mar 2003
Location: Almelo, The Netherlands
Ferrari Life Posts: 2,211
10-12% is a bit high imo, but yes, you can a very nice fund when you save small amouts of money
Dr. Bob is offline  
post #9 of 23 Old 08-02-2004, 04:31 PM
Owner
 
Join Date: May 2002
Location: Orange County, Calif.
Ferrari Life Posts: 1,696
Work!

8)

12 cylinders or walk
Bart is offline  
post #10 of 23 Old 08-02-2004, 10:19 PM
 
Join Date: Jan 2004
Ferrari Life Posts: 895
Well, sounds like you and me are in similar predicaments. 16 year olds yearing to have a Ferrari in their future.

There's some good advice here.
Rosso is offline  
post #11 of 23 Old 08-02-2004, 11:17 PM Thread Starter
 
Join Date: Aug 2004
Location: Chilliwack B.C.
Ferrari Life Posts: 6
Wow thanks guys, but what kind of jobs do the people in Enzos and 360 modenas have?

Right now I'm thinking about being a Pharmacist? Any pharmacists here own ferraris???

Or are most of you doctors, lawyers, ceo's, buisness owners, anytihng in the medical field? Please tell me. If I were to go to a ferrari dealership, and see someone buying one, what might his profession be?

That 1440$ thing seems very good of an idea and then I can get my enzo

Thanks a lot guys, any more advice would be great!!

Wheres my ferrari??
tom_e_rock is offline  
post #12 of 23 Old 08-02-2004, 11:34 PM Thread Starter
 
Join Date: Aug 2004
Location: Chilliwack B.C.
Ferrari Life Posts: 6
I just thought about it,
And I dont see any compounding investments really working out that great.

Banks offer around 3-4 percent annualy, and then add taxes taken each year, and add inflatation, your not going to make that much, you'll double the amount of money you invested.

Les say I invested a million, with 5% annual interest for 15 years, it will double that.
Tax's (in canada here) will take 300,000 of that, leaving 1.7 mil.. and then inflation making it probably 1.2 mill.

So we only really gained 20%.

What kinda price range do you need to be considered rich?
Over 100k?? Would that all work out to give you expensive vacations and nice house and car?

Wheres my ferrari??
tom_e_rock is offline  
post #13 of 23 Old 08-03-2004, 12:01 AM
 
Join Date: Jan 2004
Ferrari Life Posts: 613
Quote:
Originally Posted by tom_e_rock
I just thought about it,
And I dont see any compounding investments really working out that great.

Banks offer around 3-4 percent annualy, and then add taxes taken each year, and add inflatation, your not going to make that much, you'll double the amount of money you invested.

Les say I invested a million, with 5% annual interest for 15 years, it will double that.
Tax's (in canada here) will take 300,000 of that, leaving 1.7 mil.. and then inflation making it probably 1.2 mill.

So we only really gained 20%.

What kinda price range do you need to be considered rich?
Over 100k?? Would that all work out to give you expensive vacations and nice house and car?
Dutch tax will take up to 40% or more if I'm right! (when you make some more cash than average) The more money you got, the more our goverment wants from you... :-?
marcos is offline  
post #14 of 23 Old 08-03-2004, 09:50 AM
 
Join Date: Mar 2004
Ferrari Life Posts: 68
Quote:
I just thought about it,
And I dont see any compounding investments really working out that great.

Banks offer around 3-4 percent annualy, and then add taxes taken each year, and add inflatation, your not going to make that much, you'll double the amount of money you invested.

Les say I invested a million, with 5% annual interest for 15 years, it will double that.
Tax's (in canada here) will take 300,000 of that, leaving 1.7 mil.. and then inflation making it probably 1.2 mill.

So we only really gained 20%.

What kinda price range do you need to be considered rich?
Over 100k?? Would that all work out to give you expensive vacations and nice house and car?
Well first of all, rich people don't pay taxes, or atleast not what the rest of us pay. If you are investing that kind of money you already know how to "exploit" the government, or know somebody who does. I don't think you really have to be extremely rich to own a new Ferrari either. (Enzo excluded)
And although I think working hard is always going to be the case, having a certain job is not. You will probably have a better chance of owning your dream car if you worry more about learning how to make your money work for you, rather than learning how to land a high paying job. If your really not interested in waiting until your 60, then I would suggest soaking up ever bit of knowledge you possibly can about money. How to invest it and how to make your fortune grow.
I'm only 22 myself and just until a few years ago I always wondered the same thing. I always assumed these guys had ridiculous salaries, but as I looked into things I realized, they all had huge incomes but not all of them have huge salaries. Owning a Ferrari is a lot more realistic than I thought it was when I was 16.
Read books, take classes and cram as much USEFUL information you possibly can into your brain.
Barchetta is offline  
post #15 of 23 Old 08-03-2004, 01:44 PM
 
Join Date: May 2004
Ferrari Life Posts: 476
Before jumping into the deep end let's start in the kiddy pool. Read through all of this below. It's a simple straight forward explanation of some potential investments, stocks, bonds, and mutual funds. It's not too boring and explains most everything you need to know as a beginner.

http://googolplex.cuna.org/12433/cno...tml?doc_id=556
senna21 is offline  
post #16 of 23 Old 08-03-2004, 03:41 PM
Owner
 
Join Date: Nov 2003
Ferrari Life Posts: 749
Tom,

It is well worth noting that a very large number of people on high incomes aren't "rich" - they spend most of it. It is just human nature that if you are getting paid a lot, you will eat out a lot, go out a lot, buy more expensive stuff and generally not worry too much about your money (as you feel pretty secure that you are riding high).

End result => a good lifestyle but not much to show for it at the end of the day.

OK of course you will need to develop a decent source of income if you DO want to get some expensive things but just being careful how you spend your money will put you streets ahead of the average Joe. Just check your mates - I'm sure a few of them spend most of their pay-cheques on entertianing themselves & their friends.

Both my parents are pharmacists, & they did well by developing their own businesses. Pharmacy is about people-skills (the community likes dealing with them as doctor-alternatives), and business-skills so that you can see opportunities as they arise and can work them into your overall plan.

You would probably build the most wealth by growing / buying a chain of outlets (but this depends on Govt policy in each country), but I have a good friend who did very well as a consultant pharmacist just working for others (for a very good rate). I even know of some guys who did very sell developing & selling pharmacy software (it wasn't much good but it was all there was, so they cornered the market!). There may be great opportunitites in associated ares such as hospital/medical pharmacy services, etc apart from straight retail. What about e-pharmacy? Has that been done well yet? Study well but also try to learn lots about how the whole pharma-medico sector works (which players are doing what, what sectors are developing, what govt regulations are changing, where are people moving to, where are services most likely to be needed, etc). Getting into a business in a new or fast-growing developing area is the key.

Good luck & keep that Ferrari foremost in your thoughts! ha:
4kids3fish is offline  
post #17 of 23 Old 08-03-2004, 10:39 PM Thread Starter
 
Join Date: Aug 2004
Location: Chilliwack B.C.
Ferrari Life Posts: 6
4kids3fish , WOW your two parents are pharmacists? Do they have a ferrari ???

But going to fast growing sector, might mean theres a risk involved, I guess that there will always be a need of pharmacists though.

You guys mentioned a descent income, what woud you consider this? What would you consider a wealthy (modena driver) income?

Wheres my ferrari??
tom_e_rock is offline  
post #18 of 23 Old 08-03-2004, 11:19 PM
Owner
 
Join Date: Nov 2003
Ferrari Life Posts: 749
No, they don't have a Ferrari :lol: To them cars are just for going A to B. :nuts: :lol: They drive Subarus!

They do own some racehorses though, have put a couple of kids through private schools & uni and now are retiring to lead a comfortable life. Good for them - they worked hard in a service industry.

You hit it 100% on the head - risks ARE involved to get ahead of the pack. Risk => return, but always weigh up the risk-to-return balance & ask lots of questions. Do I start my own business now? Do I go into partnership with this person? Do I specialise in a new field? etc, etc. Remember, if you just follow everyone else down the "well-trod" path you will end up in the sheep paddock with the rest of them.

You'll go far - you're thinking about this now when most of your mates probably aren't. There are little decisions all along the way that can help you, from what subjects you choose at uni to where you take your first job (or even mid-course work-experience). Keep your eyes on the prize & you'll be there soon enough. Forza!
4kids3fish is offline  
post #19 of 23 Old 08-04-2004, 12:00 AM Thread Starter
 
Join Date: Aug 2004
Location: Chilliwack B.C.
Ferrari Life Posts: 6
4kids3fish
Thanks a lot for believing in me. No kids in my class think about this, and they all get high and get drunk, which is very stupid and never appealed to me. Right now at school I decided to take all the hard subjects, 3 sciences which only a certain percent are taking and worked my money for a laptop for school to help increase my grades.

For your parents, was pharmacy a fun job, did they ever get tired of it?
Also did they retire early? Tell me any thing about pharmacy.
Its a great thing, theres a shortage, and many places will pay your WHOLE tuition, here in Canada.

The coolest guys I look up to right now, are Thomas Breitling and Tim Poster, those guys off The Casino. I try to make my own php sites which someday will make me many money :-) and then i'll buy my own casino!

Wheres my ferrari??
tom_e_rock is offline  
post #20 of 23 Old 08-15-2004, 06:37 AM
Administrator
Owner
Elite Member
 
Boxer's Avatar
 
Join Date: Apr 2004
Location: UK & Texas
Ferrari Life Posts: 15,131
tom_e_rock, In my humble opinion, find something you love. Your chances of success are multipled 10 fold if you love what you are doing. Work hard at it . Be patient, success does not come over night. Develop short, medium, and long term career goals. Always spend well within your means. Try not to run up credit card balances, it is the most expense money you will ever borrow. Then with a little bit of luck, in a few years you will have enough in the bank for your first Ferrari. Good luck, Boxer42 :work:
Boxer is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale