What am I doing Wrong? - Ferrari Life
 
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post #1 of 16 Old 10-04-2005, 09:02 AM Thread Starter
 
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What am I doing Wrong?

This probably seems a little rediculous for me to have to ask this, but i need to start somewhere. I'm currently stuck working a 9-5 job that only pays $50k per year working with computers and software in ohio near cleveland. It makes me sick to know that there is so much potential to make more money, out there. I have been racking my brain for the last 5 years now, trying to figure out what i can do to get out of this "rat race" and start living at the same level as my ambition. But because I have to work that 9-5 job all the time it leaves little time for venturing elsewhere. I'm 22 now, I have the goal of owning my first Ferrari (an F355) by the age of 26. All of you Ferrari owners have obviously done the right things, so i'm just looking for a little guidence, and motivation. It gets really tough constantly failing, heh.... Any advice would be great. So far, i've achieved every goal i have ever set for myself. I can't let this one get away. It is not only a goal, but also a dream.

Thanks Very much in advance for your help!

-Simeon
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post #2 of 16 Old 10-05-2005, 01:47 AM
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Hang on to that dream.
Next time you are at a Ferrari club meet, work out the average age of the owners.
I'm a lot older than you and the Ferrari is still a dream but I've not given up yet. :lol:
Look at the world population and the number of Ferraris available and you'll see its an exclusive club. Its about priorities; put all your spare cash into the Ferrari fund and you'll get there. I know of people earning less than you and running Ferraris, but not doing much else !!
Let us know when you get there.
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post #3 of 16 Old 10-11-2005, 12:44 AM
 
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I had the same thing.
And besides owning one you need a lot of $$ to maintain it.
Parts prices are bloody expensive..
You shouldn't be to crazy about owning one when you can't ride it.
I've seen garage bills from friends...
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post #4 of 16 Old 10-11-2005, 10:09 AM
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Simeonj,

Your not doing anything wrong...your 22, give it some time, there is no get rich quick scheme. But, you can be smart about it, buying is one thing, paying to keep it on the road is another. Everyone is in the same rat race, it just depends on who is the smarter one at the end.

If you do it right you will enjoy a Ferrari for a long time, if you jump in blind, you will end up being disappointed.

Like Marlin and Henkie said, they are expensive to maintain to some degree but unless your making six figures or more plan it well. People have been known to make less and drive them. Keep the dream alive and keep an eye on the falling prices...that helps too !


Good luck ! :lol: :lol: :lol:

1990 348 TS (87284)

“I build cars for young men that only old men can afford” - Enzo Ferrari
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post #5 of 16 Old 10-11-2005, 11:51 AM Thread Starter
 
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Quote:
Originally Posted by magnum6464
Everyone is in the same rat race, it just depends on who is the smarter one at the end.
I like that. ----------------^

Thanks very much for all the encouragement from everyone, that helps very much. Any owners out there looking for an apprentice ? I have a resume available.
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post #6 of 16 Old 11-09-2005, 09:31 PM
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You are young. Roll the dice. Even if you crap out, you are young.

ROLL again. You will roll eleven sometime.

Live is a gamble. If you do not roll, you cannot win. Therefore, not rolling means you are a loser.

8)

12 cylinders or walk
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post #7 of 16 Old 11-10-2005, 12:02 AM
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You're 22, you're making twice the national average and you are wondering what you are doing wrong?!?!?!? When I was 22 I was making like $15k a year. You need to step back and re-evaluate. Be thankful for what you do have and don't mourn the things you do not have.

Do you like your job? If you do, and you are making $50k now, there is no reason why you can't save up enough cash to buy a 308 before you are 26. If you are good at your job, you will probably be making a lot more by then. If you don't like your job, then forget about Ferraris and figure out what you really want to do with your life. If you are not happy, a Ferrari ain't gonna fix it. It's just a car.

Capt. Pete
'79 308 GTS, '82 Jeep CJ7 Jamboree
"Time is what prevents everything from happening all at once."
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post #8 of 16 Old 07-04-2006, 03:18 PM
 
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The Secret in Life is wanting what you have, not wanting what you don't have.

I wished i was making 50K when i was in my early 20's.

Give it time and put what you have in a safe place.

D
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post #9 of 16 Old 08-04-2006, 09:49 PM
 
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Quote:
Originally Posted by Bart
You are young. Roll the dice. Even if you crap out, you are young.

ROLL again. You will roll eleven sometime.

Live is a gamble. If you do not roll, you cannot win. Therefore, not rolling means you are a loser.

8)

I took a roll of the dice in December and went to a new IT venture, got in on the ground floor, was told I had a decent chance of making 125K in a year after the company 'took off'.
It didn't, and now I am 48 and job hunting, NOT a good position for a 48 year old to be in. The entire company folded after < 6 months, just after we completed a 1.2 million dollar project, and had a 6 million dollar one on the table. Made no sense to me.

And, 50K today is about like 20K was in 1986, in case you have not seen the prices of EVERYTHING lately. I bought a house in 1997 for 127K, that was built in 1980 for 60K, sold in 1988 for 88K, sold to us in 1997 for 127K, and is currently valued at 160K. Problem is the housing market is dying pretty quick, prices are dropping just so houses will sell.
Same for cars: a $15,000 car in 1986 is around $38,000 today. (comparing a hi-tech 1986 ford mustang turbo SVO to a 2006 'decent' mustang today).
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post #10 of 16 Old 08-22-2006, 12:33 AM
 
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Seems to be a lot of IT people on this board......

Anyone interested I have an opening for an IT person in New York. I am looking for a 2nd/3rd level person. You will be looking after the US based users of our company (currently about 30 users) who are based in our New York and Boston offices. There is some server support needed as the New York office acts as the company's DR site and in the event of a disaster the IT person at this site would have to help switch over all users to point to this main site.

The company is one of the larger fund of funds in the world and is offering a good salary. You recieve 20 days holiday plus a good health package and a bonus at the end of the year and relevant and focused training. We are looking for a candidate with good second level knowledge (MCSE, CCNA is desirable but not necessary)who is looking to move his career to the next level but must be able to work independently as all other company IT staff are based in the Swiss office.

If you are interested PM with your CV and I will take a look...
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post #11 of 16 Old 09-12-2006, 11:17 AM
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Priorities change with age...

I've wanted a Ferrari since I had my first apartment back in....well, you don't need to know how long ago. Anyway, I was driving a nice Alfa Romeo Spider in Giallo Piazzo (Ferrari yellow basically), but dreamed of driving a 308GTS. After moving to California in my mid 20's, I realized I'd like to own a house with a garage for my Ferrari first. That in itself is a feat in the southern California housing market! A few more years go by and I do buy a house and for a first house I was quite proud that it had a 3 car garage no less. Now I could shop for my Ferrari which took a couple more years to locate just what I wanted. I've moved on to a larger home, still with a 3 car garage but more acreage and....well the point is, I'm glad I didnt get a Ferrari in my 20s and park it in front of my apartment. A home is a smarter first purchase, toys come later.
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post #12 of 16 Old 09-12-2006, 11:59 PM
 
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I'm felt this way just recently. Do what I did (am doing now). Change job, keep your head up and keep in mind you got nothing to lose accept live!

I'm going to start my job in 2 months now. Because I took a small camble I'm going to make almost 1/2 months pay extra. Next time I'm getting tired and sick of my job I'll jump to go forward. No matter how high the jump is...

You know what, I think this board has learned me more about me then talking to friends and family...
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post #13 of 16 Old 09-13-2006, 02:05 PM
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Quote:
Originally Posted by Sandra
..............well the point is, I'm glad I didnt get a Ferrari in my 20s and park it in front of my apartment. A home is a smarter first purchase, toys come later.
This girl nails it on the head and better yet it is with 20/20 hindsight, the BEST kind.

If you are making 50k then you should be able to buy your own house (if you haven't already). After you get some equity in it buy a rental, then another. Sit on them for a few years and sell out after the real estate market picks up after this up coming down-turn (a good time to buy, by the way).

Change your time table a little, make your purchase around 30.

A 355 is a great looking car but the chronic maintenance issues like valve guide problems on the early ones, cracked headers (over and over), jammed exhaust diverter valves, melting catalytic converters (3k each) and engine out services (30k or 5 years) can run from 6k to 15k (depending on what kind of surprises you find) can quickly end your ownership, PERIOD.

I would seriously consider starting with a car that you might have a chance of maintaining properly on a working mans budget.

I started with a 308 and it has been more or less manageable but I am going to attempt a move to TR. This translates into roughly DOUBLE the cost of everything; purchase, parts, insurance and maintenance, and STILL LESS than maintenance on a 355.. This will be a stretch for me and I am twice your age and well established.

Consider Ferrari ownership a "disposable" target for your money and NEVER consider it an investment.

One lady asked me how I could afford a car like this and I told her, "I don't own a boat". Same difference............................

SPASSO
308 V-12 Conversion click here.
"Oh yes, that is one of the very best ways to break these and it is also pretty dangerous. You really shouldn't do that". - mk e.
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post #14 of 16 Old 09-13-2006, 07:44 PM
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O.K here go my two cents.....First of all know yourself profoundly and sincerely evaluate your weaknesses and advantages, then find your life's calling in something that you really enjoy and sorround yourself with people that are strong in what you're weak......add some hard work and luck and voila!!!!..........ferraris coming your way1!!!!
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post #15 of 16 Old 09-13-2006, 11:36 PM
 
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Quote:
Originally Posted by maximus136
...sorround yourself with people that are strong in what you're weak...
Smart thinking! It's not about what you know... ...but it's about what people around you know and how you use this knowledge.
;-) (Napoleon Hill wrote about this subject, very interesting book)
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post #16 of 16 Old 09-15-2006, 05:42 AM
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OOOPS....forgot one thing......be decent with everybody in every situation, believe me it is a good policy!!
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