If Everything Works Out!!!

[Johnny Drama 5,000+ posts]

yea i hear ya thats prolly wut will happend ill prolly go with the 05 gt and fix it up like i want..dam theres alot of ball busters on here lol

Not ball busters...realists.

I am 24, make more then you will be making with your new job. I cant afford a $50,000 BMW I have wanted for a few years. I have more then you in investments and timber land, but I would NEVER waste that money on a car. JESUS...My main priority is a house paid in full at 30. I then hope to retire from this type work and do something I enjoy like opening up a flight school...

You're 17 and dreaming big. That is good, but when you will be ruining your credit and life its a good idea to get a reality check. I had one...I am where I am today because of it.

 

[Calikid 5,000+ posts]

that car would be 15k to insure here**** i got quoted 9k a year for a G35, and Im 28 with a good rec. no accidents

even if you did find a way to get a ferrari, what if it breaks? there goes a month of work..

if i were to get a ferrari, i wont ride it that much, ill keep it garaged kept and ride it once in a while.

 

[MikeofTulsa Moderator]

Not ball busters...realists.
I am 24, make more then you will be making with your new job. I cant afford a $50,000 BMW I have wanted for a few years. I have more then you in investments and timber land, but I would NEVER waste that money on a car. JESUS...My main priority is a house paid in full at 30. I then hope to retire from this type work and do something I enjoy like opening up a flight school...

You're 17 and dreaming big. That is good, but when you will be ruining your credit and life its a good idea to get a reality check. I had one...I am where I am today because of it.

yep. i agree with you there.

 

[iceteebone 5,000+ posts]

i read the first post and lol'd. 16/hr and he thinks he can buy a lambo //content.invisioncic.com/y282845/emoticons/hilarious.gif.02a037aad04aa96f19982b298a3d70a8.gif

 

[smd4life 5,000+ posts]

//content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif everything will not work out:fyi:

 

[Flipx99 5,000+ posts]

F that...If he is 17 and already has 16g...invest it and buy your first house in cash. Even at 24 he should be able to double his cash.

10% per year consistantly is harder than it looks. If he is asking about financing a ferrari, I don't think he has the investing savvy to do it. 10% consistent isn't hard , it's a lot of work. Yes, anyone can show anyone a few investments that have got 10% the last 7 years...but the next 7 years is the only thing that matters.

I would put it toward a college education...a good school = good job, usually a better investment than in the market (although the follow each other cyclically)

 

[pitbull12888]

um i didnt say nuttin about a lambo lol

 

[Flipx99 5,000+ posts]

um i didnt say nuttin about a lambo lol

lol

 

[Johnny Drama 5,000+ posts]

10% per year consistantly is harder than it looks. If he is asking about financing a ferrari, I don't think he has the investing savvy to do it. 10% isn't hard consistent, it's a lot of work. Yes, anyone can show anyone a few investments that have got 10% the last 7 years...but the next 7 years is the only thing that matters.

I've averaged over 10% for 9 years...Its nice //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

Well...A.G.Edwards has averaged 10% for me //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

 

[Chevyaudio 5,000+ posts]

God...a Ferrari to a Mustang...what a jump. Also Justin what happened with the yukon?

 

[iceteebone 5,000+ posts]

um i didnt say nuttin about a lambo lol

sorry i saw a lamborgini dealer in the pic, but still a ferari on 16/hr //content.invisioncic.com/y282845/emoticons/hilarious.gif.02a037aad04aa96f19982b298a3d70a8.gif

 

[negativezeroz 5,000+ posts]

ae u serious... payments for a ferrari are like 1000/month + insurance ? ....if yall make all that money u must have some expensive bad habits lol

I have skipped reading all the thread but if you make $16hr thats just over 33K a year (40hrs a week without taxes)...so no you will not be getting a Ferrari anytime soon..if you didn't have to pay bills and lived with parents then you could make a downpayment by next year...but then add insurance = you bent over taking it. Especially since the insurance just on my little Si is over twice as much as my dad's 545i...So I'm pretty sure you'd be paying like 324234545435355 a month lol

Try a smaller car...like an S2000 or A4.

 

[Johnny Drama 5,000+ posts]

God...a Ferrari to a Mustang...what a jump. Also Justin what happened with the yukon?

Too many miles...I am holding off. I love my $205 a month truck payments //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

Probly keep the truck for another 6 months and try to look again.

 

[pitbull12888]

i hear ya

 

[Flipx99 5,000+ posts]

I've averaged over 10% for 9 years...Its nice //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gifWell...A.G.Edwards has averaged 10% for me //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

average does not equal consistent...two different things.

For instance, you may have been up 20% one year, down 10% the next. If you withdraw at the end of the cycle, you won't have the same gain as if you did 10% then 10%

Here is an example:

I invest $1.

1st year -- 20% gain = 1.20

2nd year -- (10)% loss = 1.08 (providing you cashed out the 20% gain, if you didn't you would have .90)

1st year -- 10% gain =1.10

2nd year -- 10% gain = 1.21

See how that works?

Your example requires consistent compounding not average compounding