Trade In Your 430 Today

[SW03ES]

as you can see, i thought you were at least 30. anyway i am obligated to congratulate you on being 22 when you bought a dark red ES300. LOSER, haha just kidding. just wondering though did u/where did you go to college? and also how old were you when u started in the realty business?

LOL, I know! Everyone always thinks I'm a lot older than I am, even when they meet me in person. Having started in business as young as I did I learned that you have to project a certain sense of credibility if you want people to take you seriously. The car lends a lot to that, and plus I've just always liked luxurious sedans. I'm definately a weirdo lol

I went to the George Washington University. I've been in Real Estate for about two years. When I was in college I started a marketing business, I designed customer retention systems and consulted with car dealerships and retail businesses who wanted to increase their customer retention rate. I sold that business about a year ago once my Real Estate business took off.

25?? holy crap. you only like 7 years older than me. Damn i needa get on the ball and do somethin with my life.

LOL, don't feel too hurried. One thing I do regret is I haven't had as much fun as I would have liked to have had.

guess what my 10-year son got from his old man on his 10th birthday last month? other than a shinny nintendo DS, he also receive a $5K ROTH IRA in his own name. yes, Roth for a 10-year-old! don't ever under-estimate the power of acummulating saving for retirement! $5K today can turn into over half a million wealth when he retires at 65 wihtout even adding a dime in next 55 years

Thats great!

I thank you for the thumbs up, obviously this whole idea of not relying on the activities of others to support yourself is really important to me. Part of what I do involves seeing people's finances, and when you look at the joy on someone's face when they're 27 years old and buy that first dream house thanks to the discipline they've tought themselves and have assets to where they can just write a check for a 20% downpayment without a second thought and compare it to the strain you see when someone 40 years old gets a 100% loan and has to strong arm closing costs out of a seller because they have *no* assets it really hits this home. I have seen people making astounding incomes have to build $15,000 for closing costs into a loan for a $400,000 house for closing costs because they literally have nothing. Its sad.

You wanna see something really cool?

Take Wanda's calculator:

http://www.finance.cch.com/sohoApplets/RothIRA.asp

Now invest the maximum and click the box that adjusts for the maximum increases over given years.

You've turned what really is a very small annual investment into nearl $2,000,000

Now imagine if you do this coupled with other structured investments so that you were investing 10-50% of your income (obviously depending on what your income is. People making $250,000 can obviously contribute a far greater portion of their income than someone making $50,000). Imagine what you would have. You'd have wealth. Wealth is the name of the game, its power. When you have assets like that, you can do anything you want. When you die, you can give it away to something that is meaningful to you, and actually have lived for something. Into cars? Buy 15. Any 15 you want. Get new ones every year, who cares?

Its very doable too. Take just this Roth IRA. Do you think you can find $4,000 a year to fund an investment like this? Its $333 a month. You do that for the rest of your life, and buy a home as soon as you can to start building equity as soon as possible. You will be fine when you retire. You'll have 2 million bucks, and a paid for place to live you can do a reverse mortgage on. Freedom.

[lexuus]

I don't know why you assume someone can't have the things they want AND invest in their future. (SW03ES from other thread)

Usually the things people want in this case an LS460 are expensive, in this case over 60k haha. 60k can leave some damage... :P

[SW03ES]

True, but you have to enjoy your life too. As long as you can integrate it into your financial plan, have at it.

One thing to think about however is finding ways to limit the amount something like that costs you. Thats why I lease, for me a car is a business deduction, and you can write more of a lease payment off than a finance payment, leases also come up as an expense not a liability. Some people are fond of paying cash for new cars and I think thats silly. Whats the interest rate on a car loan? 7%? You can make more than 7% on that $70k cash so I'd just finance it.

Personally, I think luxury cars loose such a huge amount of value in the first couple years I think people are better off leasing them in general unless they plan to keep them 7+ years.