advice to younger members

instead of buying expensive wheels.invest in some land

from 1996 trough 2001 i spent over 12 grand modding my car,i was young and had to have the cleanest wheels etc..
my older brother always told me i was wasting my money
it was a waste of money and i had fun,but i should have invested that money instead
back in 1999 i was looking at buying some land in an up and coming area the lots where1/4 acre(average size for florida) and where going for around 3,000
now those same lots(whats left of them) are going for around 25,000

so if i would have invested the 12 grand on land instead of my car the value of the land would be around 100,000

just makes you think

Well that's true, but land is always an appreciating value. The things younger kids need to realize is to spend the money ONLY IF they have extra money left over. I never make expensive purchases unless I know there is plenty of money left in the bank account to last for a while.

They can also invest in stocks and bonds. Or hell just start a savings account at a young age, that's a good way for kids to learn the value of a dollar.

ya can't take it with you.... :gives:

But you can invest and make more while you're here.

Invest in S&P index fund.

Invest in your 401(k).

Invest in your education.

investing in land is a great idea, but only if your in the right place, and have a huge lump sum to work with.

Roth IRA!

Roths rock!

If nothing else - everyone should learn the meaning of compound interest and the value of patience.













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Actually I've changed my mind. Spend every cent you have. Save nothing. Invest in nothing.

damn skippy. no point in being broke while your young so you can be rich when you're too old to spend it

Roths rock!

If nothing else - everyone should learn the meaning of compound interest and the value of patience.
Exactly why I mentioned a savings account. I also think parents should think about their childs college education as well. My dad invested in a blue chip stock when I was born to pay for college. While I have taken money out every year to pay him back for what I owe for the year, I have made back and even then some.

I don't like to spend (waste?) much of my time fretting and concerned about money -- it's all going to crap anyways, one way or another (and what Uncle Sam doesn't take from me, numerous bills/education loans finish the clean-out.) That being said, if I could actually land a decent job, and actually make enough money so I wouldn't have to watch my hair falling out over financial stresses, I would DEFINATELY like to look into one of those Roth IRA's (before I get any older.) I hear many good things about them. And when I get to retirement age, and the damn baby boomers have sucked up all the Social Security funds, and the government is still bending people over because of a greedy unwillingness to socialize medicine, at least I'll have a nest egg to pay for prescriptions/living expenses/burial. But like I said, I'm not going to fret about it right now, I've got half a century before I need to even start thinking about those things (providing the retirement age is 72 or so by that time, and not something ridiculously higher.) But anyways, keeping on topic, uh, save and invest! right then.

It's called hind sight. "If only I'd have known..........."

I worked my butt off to pay for my son's college years. Now that he's done and working, I work the minimum amount of time required and enjoy my time away from the job. I'm learning to enjoy life more. I make enough to enjoy what I like to do, which is all I want. I'd drive myself crazy if I wanted to keep up with everyone else.

Yeah I don't look forward to paying for my sons college. Maybe I'll get lucky and he will get a scholarship. I can't count on that though.He is smart enough and athletically talented enough but there is a lot of competition for scholarships. Did you save ahead before he got into college carnut?

Yeah I don't look forward to paying for my sons college. Maybe I'll get lucky and he will get a scholarship. I can't count on that though.He is smart enough and athletically talented enough but there is a lot of competition for scholarships. Did you save ahead before he got into college carnut?

Yes, I thought my son could get a scholarship too, but I think the electronic recorded message was laughing at me when answering the screening questions. Apparently making a technician"s paycheck, paying alimony and having custody of my son didn't qualify me as "needy" enough. Apparently they never saw my checking account at the end of the month :screwy:, so working extra hours was the only way to get him through college without him having to work.

Well fortunately I have a few years left before it's that time. Working extra hours won't do anything for me because I'm salaried. We will save what we can before he has to go and take a loan out possibly. My wife likes to spend it as fast as I can make it. I'll have to put a hold on her spending habits.(she likes jewelery and expensive furniture)

Well fortunately I have a few years left before it's that time. Working extra hours won't do anything for me because I'm salaried. We will save what we can before he has to go and take a loan out possibly. My wife likes to spend it as fast as I can make it. I'll have to put a hold on her spending habits.(she likes jewelery and expensive furniture)

You won't regret the effort! My son is the first in my family to get a college degree, and in chemistry too! I majored in "beach and pool hall" myself :disappoin .

Congratulations on your sons accomplishments. I hope we are as lucky with ours.

damn skippy. no point in being broke while your young so you can be rich when you're too old to spend it

I'd love to be the 50- year old guy who blows the door off your car with his viper/SL55 AMG/M5/RS6.

He saved his money and he doesnt need 30k under his hood to go fast, and for just a lil more than what a serious racer puts into his car, an older person can kill with a sleeper.

I'm just 16, and i'm already saving to get a G35 by the time I'm 24, and out of college. But at the rate I'm saving, I should have about enough to get a M5, but I'd rather put a down payment on a home, which is about $100k in my area.

I'd love to be the 50- year old guy who blows the door off your car with his viper/SL55 AMG/M5/RS6.

He saved his money and he doesnt need 30k under his hood to go fast, and for just a lil more than what a serious racer puts into his car, an older person can kill with a sleeper.


two things, none of those cars are sleepers, and i think a viper costs a little more than 30 grand

two, thats fine and dandy, id love to be the 50 year old man who knew that he lived his life to the fullest day to day, instead of sitting around the house cuz all his money went into a "imma be a badass 50 year old driver" fund.

and i may never save my money to by either of my dream cars (M3 or an HPA motorsports R34) but i know that whaever car i do have at fifty, i'll have poured my heart into, and if i get beaten by your viper, thats cool. like i said, i enjoyed my life...your just enjoying a car.