Help from the wise. - Ferrari Life
 
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post #1 of 11 Old 01-04-2015, 11:05 PM Thread Starter
 
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Help from the wise.

Recently I've been thinking alot about my future. My goal in life as most of you know is to become a respected technician.

However, From my understanding this is a good carrer but it won't get you wealthy. I've been looking at ways to start stashing money away for the future, My work does not offer 401k so that isn't possible. I'm very good at saving but I feel you can only save so much.

I have been researching stocks with the help of my grandpa who has been in stocks for 30 years, Eventually I would like to get into IPO's but, the startup cost are way out of my range.
Any other suggestions on investments?

So, I guess I need to decide what I want to do....Make a decent living being a tech or, go try a different path..That's where you all come in! Obviously all of you are very accomplished in your career, And I look up to all of you. What is your input? Are there ways to still be a tech and do something along side that can can secure a more comfertable lifestyle?

What have you done to get where you're at?

I'm not typically comfertable asking these types of questions since you guys probably get flooded with them. If you don't feel like answering my questions or telling me to back off, by all means do so!

Have a nice night.....
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post #2 of 11 Old 01-04-2015, 11:51 PM
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My two cents
Money does not buy you happiness, of that i am sure, it buys you choices.
So the best way to cut it is in my opinion follow what you feel is best for you.
If you love working on cars, that could be a job yes, or it could also be a hobby.
I am not sure how old you are, but I am 47 and still have no idea what I really want to do.
And I never intended to do what I do when I left school, in fact had no idea about it 15 years ago either.
Life is for living if you make too many plans you will spend too much time planning and not enough enjoying it when your young.
Some would probably say I am not that wise

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Last edited by Habsy; 01-05-2015 at 12:31 AM.
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post #3 of 11 Old 01-05-2015, 01:36 AM
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Hi Cutter,

I am going to try and build on Habsy's excellent advice. You need to find something that you like doing, you are good at and that it is sufficiently valued in monetary terms.

If you want to make money, it is no good being the world's expert scientist on a rare Amazonian frog species, or an expert in ancient Peruvian politics.

Find something that people need and want. One of my mentors told me to get good at something that is hard for others to do.

Good luck with the stock market. I am sure it is a pathway for immense riches for many talented people with intimate knowledge. For others like myself it is a good way to lose money.

Although it is boring, I find investing in real estate is good. It keeps going up and you can't really lose, unless you take stupid risks or get in over your head.

Try hard at what you do well. Don't expect things to go right all the time and learn from when you fail. Get good at dusting yourself off and persisting towards your goal.

David.

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post #4 of 11 Old 01-05-2015, 01:41 AM
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Cutter,
Unlike Paul, I've known what I wanted to do since I was 12 years old.
But I absolutely agree with his comments about money and choices.
I enjoy my job so much, I'd actually pay to do it!
And while it hasn't made me wealthy in a monetary sense, it has been far more rewarding than I could ever have imagined.

So I agree, have a plan, but make sure doing what you enjoy is part of it.

One other comment I'll add; while you're very smart to be planning ahead, your plans/tastes/desires will change as you go. Don't worry about it, just be ready to adapt when the situation demands.

Of all the narcissists I know, I love me the most.
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post #5 of 11 Old 01-05-2015, 06:01 AM
 
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Cutter,

Money does not guarantee happiness, however I'd rather cry about my life in the front seat of a Ferrari than in the front seat of a Civic.

For some, doing what they love as a career is a blessing and for others, it becomes a curse and kills the passion they once had for it. Sometimes, leaving your passion as a hobby is a good thing. It's certainly a lot easier to enjoy a passion as a hobby with lots of money than as the guy working on someone else's dreams.

I mention this to you as a check and balance. You love cars, but that doesn't mean you need to pursue being a mechanic in order to enjoy them. There is also nothing wrong with becoming a mechanic out of that love of cars either. What you do for a living does not have to be your passion but it should be something you are interested in. Learning how money works is a solid way to make a living, the world runs on money and understanding how money works will get you your dreams. But that's not a profession for everyone.

Take a long hard look at STEM careers (science, technology, engineering and math). Medicine and investing are sections under this (science and math). The future needs more STEM degrees.

~Joe
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post #6 of 11 Old 01-05-2015, 09:00 AM
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i didn't read the whole thing and i am no investment advisor, but getting into the stock market with no experience after a six year bull run , I don't know.



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post #7 of 11 Old 01-05-2015, 03:05 PM Thread Starter
 
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Quote:
Originally Posted by Habsy View Post
My two cents
Money does not buy you happiness, of that i am sure, it buys you choices.
So the best way to cut it is in my opinion follow what you feel is best for you.
If you love working on cars, that could be a job yes, or it could also be a hobby.
I am not sure how old you are, but I am 47 and still have no idea what I really want to do.
And I never intended to do what I do when I left school, in fact had no idea about it 15 years ago either.
Life is for living if you make too many plans you will spend too much time planning and not enough enjoying it when your young.
Some would probably say I am not that wise
I completly agree with your point of view... Perhaps I didn't touch on that enough.

All's I really want is to be able to travel, have a Ferrari and have a good retirement. Those are my choices...I know money doesn't buy everything, or anywhere near it... I just want to make sure I'm heading in the right direction....



BTW, I'm 15.....
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post #8 of 11 Old 01-05-2015, 04:07 PM
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[QUOTE=uberschprung;540074] travel, have a Ferrari and have a good retirement. Those are my choices...QUOTE]

Wow, what a coincidence, those're mine too!
I got all of those with a career in the Navy.


Oh, and let me add it also let me fly cool aircraft
And meet women from all over the globe.....

Of all the narcissists I know, I love me the most.
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post #9 of 11 Old 01-05-2015, 04:35 PM Thread Starter
 
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[QUOTE=Killer58;540106]
Quote:
Originally Posted by uberschprung View Post
travel, have a Ferrari and have a good retirement. Those are my choices...QUOTE]

Wow, what a coincidence, those're mine too!
I got all of those with a career in the Navy.


Oh, and let me add it also let me fly cool aircraft
And meet women from all over the globe.....
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post #10 of 11 Old 01-05-2015, 04:47 PM
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[QUOTE=Killer58;540106]
Quote:
Originally Posted by uberschprung View Post
travel, have a Ferrari and have a good retirement. Those are my choices...QUOTE]

Wow, what a coincidence, those're mine too!
I got all of those with a career in the Navy.


Oh, and let me add it also let me fly cool aircraft
And meet women from all over the globe.....
David,

Is 55 to old to enlist? I thought I had it good as a junior doctor in hospitals. Imagine guys...."Sorry babe I can't get to know you, but I've gotta fly".

Don't you pay attention to that Cutter. Work hard and you will achieve your goals.

David.

Ferrari - Corsa/Nero 16M Past - 09 F430, 09 Cali
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post #11 of 11 Old 01-05-2015, 11:33 PM
 
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Quote:
Originally Posted by Habsy View Post
I am not sure how old you are, but I am 47 and still have no idea what I really want to do.
Now that's a big relief

Наздраве, Цветан!
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