Glen from AMH has always treated me right. I recall him being very respected here. I bought the LP 640 tail lights from him as well.
Russ,I bought my first before I could really afford it and all it did was incentivize me to be more successful. It was a great motivator.
Gee the World would be a better place if everyone had your attitude - Being from Australia, I see this attitude fading quickly in USA. Looking from the outside (Australia) it seems you have more "leaners" than "lifters" in USA with the trend going towards the "leaners"Russ is completely right. Being successful and making a lot of money is a state of mind. You must be fearless but careful. When I bought my first Ferrari it just motivated me to make more money. Being successful is in your own mind. Think , how many beautiful girls did you never have the nerve to talk to. Fear my friends can be our foe or our friend. The main reason most people never make a lot of money is that they are afraid to take chances. Take any chance you can afford to lose that has a high probability of success. Lee
I also feel a bit like the OP (and I personally found very useful that he indicates how much he makes).
Own business, dreaming of a Roadster Aventador S, spending $350k would not be a problem at all, but...
- I started my business from nothing (well $12k) so even if can afford it (hell, I could even buy cash several Roadsters without impacting my lifestyle), I feel it is still an incredible, unreasonnable amount money.
- I do not want to hurry up too much with the purchase, because dreaming of owning, looking for some, is already a pleasure. Also, I already have a 360, DB9GT, Range Sport, so I feel I must spread my own gifts over time.
I am not advocating financial irresponsibility but the money I use on these cars is from the set on fire have a blast pile. After you earn the money and are financially secure you can't forget to make sure you (we) enjoy the money as well. Our intention down the road is to create a scholarship fund for our Alma mater Columbia to give back. I had to work through college and professional school so this fund would be intended for those students that are intellectually gifted but financially challenged.I always try to buy exotics and collectibles at the bottom of their price cycle not top. I also love to work on them and rarely lose money on a car. For everyone it is different. I can buy a new Aventador but why? It will depreciate like crazy until it bottoms out and then goes back up. You will never get wealthy buying high and selling low. If you buy them at or near the bottom, there is little to lose and lots to gain. It is a guilt free transaction. Just my 2 cents worth. Lee
Another prospective for me is I am glad I waited until I was older to own my first Sports car because then/now it's a new, fun and exciting hobby. I have fun with the cars, drive them like I own them, and the detailing side was fun to learn and become somewhat proficient at. I absolutely do not feel like I missed out on anything because I had fun doing other things along the way. Gentlemen, there is more to life than Sports cars.Like you, I didn’t want to own my first super car too late in life. I’m 32 now, on my 3rd. Smiles per gallon.
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That is exactly the way I feel. Could not have said it better myself.I am not advocating financial irresponsibility but the money I use on these cars is from the set on fire have a blast pile. After you earn the money and are financially secure you can't forget to make sure you (we) enjoy the money as well.
Funny as heck! Though, as I have said I still go through a process of critical self examination before I buy one of these toys to satisfy my more "practical" alter ego. Then I set said pile of money on fire.🔥🔥🔥That is exactly the way I feel. Could not have said it better myself.
Albert, you get out of my head OK?
Wow, that’s young! at that age, my startup was just starting to get break evenLike you, I didn’t want to own my first super car too late in life. I’m 32 now, on my 3rd. Smiles per gallon.
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Let us know what you decide ( I would go for it - based on information provided )Has anyone felt guilty for buying a lambo? In the sense that you could be using that money for so many better things like buying an investment property, throwing it into the stock market, saving it for early retirement, gifting it to parents, etc?
My current situation:
I'm 34, own my own business. My income is roughly $700K+ with a rough NW of 5M+ most of which is tied in the business itself so if the business went under, a significant portion of my NW would die with it. I probably have in the range of $300k - $500k liquid at any given time. A lot of money gets invested back in the business so depending on business needs my cash position fluctuates. House is 1.5M half of which is paid off. Also have a 1yr old kid if that matters. I also have a few random other investments in private companies and stuff, but the stock isn't liquid so I don't count that in my NW.
So I think I can afford a lambo without thinking TOO hard about it. Buying a used huracan at $200k and selling it for $100k+ after 5 years is 20k a year in depreciation which to me, seems manageable given my income. BUT, it's incredibly hard to shake the feeling that I'd be making a really dumb purchase and that that money could be used somewhere else to make even more money. I mean I didn't get to where I am by being dumb with money so the whole idea of spending 200k on a frivolous purchase absolutely hurts my soul a bit. Not to mention in my circles (rich people) a lambo is actually seen as obscene and low brow. Crazy right? But I grew up loving the car and the brand so I can't help but want one.
So anyone have any advice or felt similarly? Like how do you justify buying the car instead of using that money for better things like an investment or to help family out, etc?
I've also thought about waiting 5 more years until like 1.5m+ income or 10m networth, but a part of me likes the idea of driving it in my mid 30s instead of when I'm 40. Typing that out though, it's SO superficial it hurts lol. Advice?