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Discussion Starter #1
Hey all. I’m in my early 20s and have saved essentially all my money from my first two years of working. I could go buy a gallardo right now (not out-right but nonethless without a sweat).

That said, I 100% won’t do that. I realize there’s a good opportunity to use this money to make the right move financially. What is something you guys would recommend doing? Obviously I want the best for my future and want to have nice things for myself and future family. Being this is a lambo forum, I’m sure mant of you are living my dream now because of smart decisions you made.

Offer up advice for myself and other young folks on here if you’d like!
 

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Live well below your means, save at minimum 25% of your GROSS and never finance anything except your main home.

Good place to start.
 

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Discussion Starter #3
Live well below your means, save at minimum 25% of your GROSS and never finance anything except your main home.

Good place to start.


That’s what got me to my current situation so I’ll definitely stick to it. I appreciate your suggestion. It’s not hard to live without designer clothes and a brand new car haha!


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Live well below your means, save at minimum 25% of your GROSS and never finance anything except your main home.

Good place to start.


That’s what got me to my current situation so I’ll definitely stick to it. I appreciate your suggestion. It’s not hard to live without designer clothes and a brand new car haha!


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Why would you not take advantage of a low rate financing such as 1.9% and put your money to better use elsewhere? Besides, are you gonna drive a Lambo and wear clothes from JCPenney ? Ask yourself - Why are you wanting a Lambo? Is it an image , or to get attention, or is it for status ? Or are you just a naive person who will buy a car that costs as much as some people’s houses?
 

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Why would you not take advantage of a low rate financing such as 1.9% and put your money to better use elsewhere? Besides, are you gonna drive a Lambo and wear clothes from JCPenney ? Ask yourself - Why are you wanting a Lambo? Is it an image , or to get attention, or is it for status ? Or are you just a naive person who will buy a car that costs as much as some people’s houses?


I drive a Lamborghini and I wear clothes from Costco and Target. My plane cost 4x what the Lamborghini cost. I also wear a cheap watch 99% of the time and leave my gold Rolex at home.

I bought a Lamborghini because I wanted a Lamborghini, not to impress anyone or for attention.

My advice was for someone not wealthy, leveraging money once your well off to become wealthy is different than someone like the OP. If you noticed I said start there.
 

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Discussion Starter #7
@newbull I would never buy a new lamborghini nor could I afford anywhere near close to that. So, no, I’m not naive and buying a car that costs a house. I’d be looking at a gallardo at the bottom of the barrel with high miles with good maintenance history.

That’s beside the point. I’m also not buying the car to look cool. I couldn’t give two f*** about that. Don’t get me wrong, it feels great to drive around in a great car. I’m not buying it for attention or anything like that. The gallardo has been my dream car since it came out, and I have always loved them.

I am also happy to wear my three dollar h&m t shirts and ten dollar champion sweats while driving it. I don’t care for designer brands, and don’t own much expensive clothing. I see your point though, one should not be eating ramen and wearing rags just to afford a car. I understand that.

I’m not a foolish kid, I just need guidance in regards to investment ideas. That is why I am asking here what some of you may have done that helped put your money to work. Thanks.


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Besides, are you gonna drive a Lambo and wear clothes from JCPenney?
I wear flipflops, gym shorts, and a random tshirt when I drive my car sometimes. But then again, I don't take myself too seriously either :wave:

To the OP, make sure you secure an emergency fund before you buy your car because anything can change quickly in an instant, and you want to make sure you have a parachute to catch you. Me personally, I like to invest this emergency money in tax free municipal bond funds :)
 

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Discussion Starter #9
@supradedupra thanks for the suggestion on municipal bonds! And yes I’ll definitely make sure to have emergency funds. My goal is to have the ability to buy the car outright in cash many times over before going and purchasing one.


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I like ordinary clothes and can damn sure buy anything I want. Buying a lambo is about realizing a dream. Truly successful people do not have to impress anyone. You know what you have and what you have done. New bull your comments seem a little snippy. Seems I recall you needing advice on how to finance a large portion of your lambo. If not my bad. I think the poster is on the right track My advice is to take any risk with a large return that you can afford to lose. Real estate has a very good upside and return, It has treated me very well. I know very little about stocks and bonds but make a lot of money in land. get good at something you are interested in and let the money work for you. Trusting people to invest for you will probably get mediocre returns. Learn a lot about whatever field you plan to invest in. Knowledge is power and income. Lee
 

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@Lee T Thank you for the response I appreciate it! I have definitely considered real estate and rental income as a good idea, and I’m usually on Zillow often trying to eye up whats out there. I’m always always looking for deals on things to flip too which I regularly do. There’s definitely a lot of patience involved in getting there which is my biggest weakness.


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New bull your comments seem a little snippy. Seems I recall you needing advice on how to finance a large portion of your lambo. If not my bad.
Hi lee , yes I did ask for your opinion on the best way to finance my Lambo. I apologize for my comments. In the end I put more than 70% down and took a small loan. However it wasn’t to compromise on my existing lifestyle either. To help the OP I would say that a combination of saving, working smart, and invest in property, trade stocks are all part of the equation- but the combination of these are different for each of us.
 

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Hey Sg,
the secret to real estate is buying property other people cant. I often buy estate deals (With multiple heirs the best) Someone will ALWAYS want to take the lowball offer . It is probably the sister living in the trailer that really needs the money. The other heirs will often cave to their wants, I bought a property listed for 1.6 million last year for 1.05 Million. They took my offer because they knew I could close. Establishing that you do not need the contract to be contingent on financing makes many sellers willing to drop their price. Establish with a bank what exactly you can buy and make lots of offers. People selling so they can move into a new house will often drop price drastically as the completion date arrives. Contact local builders and tell them you will buy a house a customer wants to trade in. Many will have customers waiting to close on the new house till they sell the old one. Call enough and you will have a steady supply. New Bull no worries. I just try to keep advice for dreamers as positive as possible. You never know if maybe something you say will help a person realize his or her dreams.That is a truly great accomplishment. Lee
 

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Hey everyone. I wanted to provide an update. This is me, sgfreak96, I just don't remember my login details right now for that account. I have come a long way since my post on here, and I'm nearing lamborghini territory.

In Feb 2020 I bought my first fun car in about two years. I bought a 305whp tuned 2006 Cayman S. It was a blast, and loved owning it! I had the chance to sell it for $500 more than I paid, and ran with the cash with a sale in April 2020. Time to find another car. Video of the Cayman

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In July 2020 my friend found a very rare 2013 BMW M5 with the 6MT! I drove with a buddy to MD and bought it right then. Immediately I knew I didn't like the car very much - driving it was not that fun. I knew it was rare though and it would be easy to sell. About 25 days into owning it, I listed it for sale. After all fees/taxes I sold it for a nice profit. Looking back, I could have probably sold it for way more, but I don't regret selling it. Video of the M5

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Now, in Oct 2020, after hunting another deal, I stepped into a new league. I found a 2008 R-Tronic Audi R8 with only 18,500 miles. It was a great price, and I bit the bullet. My buddy and I flew to Detroit and picked it up. I do like it a lot, but am already itching to make moves and hop into another toy. Video of the R8
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For any fellow dreamers feel free to hit me up. I am 24, and work in the tech industry. I'm not an entrepreneur, I'm not a millionaire, I just save my money and spend what I'd consider to be wisely. I consider buying these cars as dipping into my future house funds temporarily, and I always look for a good deal so I know I can protect from any major losses. If you are around my age or currently in school, you can make this happen for yourself. I should note, my parents put me through school, which is basically the only reason I am able to do this. However, I knew tons of kids at school in the same boat as me, but instead of saving their money for stuff like this, they blow money frivolously. Hold out for the long run, it is worth it. Any questions, just let me know!
 

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Speaking strictly from experience, I'd open a Vanguard account and invest in Vitax. Gained 46.5% last year and 33.4% so far this year. Those kinds of returns definitely aren't going to happen every year, but at your age, you'd outperform the S&P
 

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Speaking strictly from experience, I'd open a Vanguard account and invest in Vitax. Gained 46.5% last year and 33.4% so far this year. Those kinds of returns definitely aren't going to happen every year, but at your age, you'd outperform the S&P
Really appreciate the suggestion. I have an interested buyer in the R8. I want to put this money to work, so we'll see. I'll probably continue my car flipping ventures, but not with cars in the R8 price range unfortunately. Vanguard always stuck out to me as a great performer.
 

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Congrats. Beautiful car. The Gs are a lot of fun. I bet it feels a lot different than the R8
 

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Congrats. Beautiful car. The Gs are a lot of fun. I bet it feels a lot different than the R8
Thank you!! I actually re-made a whole thread highlighting my car journey up to the G, I posted under this profile. I had never ever driven a G or been in one in my life. I expected it to buy a faster R8. It is completely different. I was blown away, the first 5 minutes of driving I was just stunned by it. The two are just incomparable. The R8 is smooth, elegant, and does move with a swiftness. The G is raw, violent, truly a raging bull and turns 1000x as many heads. It's unreal!
 

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great story, took me to 50 to buy my first Lambo (2008 Super G), at 55 stepped up to a Aventador Roaster and at retirement hope to go to work on my last day in an SVJ Roadster. Market is doing great, another year like this last one and retirement will come sooner than later.
 
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