[ZR1] An envious college student
04-22-2009, 08:40 PM
#21
04-22-2009, 09:56 PM
#22
Burning Brakes
Member Since: Feb 2006
Posts: 860
Likes: 0
Received 0 Likes
on
0 Posts
A friend of mine that was an original member of the Flying Tigers in Burma China, drove off-shore race boats and owned "Donzi" at one time said....pick a job you love and you will never go to work a day in your life.
Last edited by Blow N By; 07-25-2009 at 11:38 PM.
04-22-2009, 10:13 PM
#23
Advanced
Member Since: Jun 2008
Posts: 52
Likes: 0
Received 0 Likes
on
0 Posts
A friend of mine that was an original member of the Flying Tigers in Burma China, drove off-shore race boats and owned "Donzi" at one time said....pick a job you love and you will never go to work a day in your life.
Many look for the get rich quick scheme. I don't know the statistic, but an extremely large percent of lotto winners are usually in worse condition after they've blown thru their winnings than before. They loose there job skills, motivation and succumb to depression.
The real answer is slow wealth accumulation through hard work, sound investments (like buying instead of renting at an early age) and I can't leave out - trust in God who rewards us in many ways. And remember, to whom much is given, much is expected......
Hang in there young man. If you want it bad enough, you will have it. One word of caution, be careful what you give up in exchange.
Many look for the get rich quick scheme. I don't know the statistic, but an extremely large percent of lotto winners are usually in worse condition after they've blown thru their winnings than before. They loose there job skills, motivation and succumb to depression.
The real answer is slow wealth accumulation through hard work, sound investments (like buying instead of renting at an early age) and I can't leave out - trust in God who rewards us in many ways. And remember, to whom much is given, much is expected......
Hang in there young man. If you want it bad enough, you will have it. One word of caution, be careful what you give up in exchange.
Wise advice! 
04-22-2009, 11:26 PM
#24
Racer
Member Since: Oct 2007
Location: DFW TX
Posts: 480
Likes: 0
Received 0 Likes
on
0 Posts
Your best bet is to go to professional school...become a dentist, physician, or pharmacist. This will guarantee you will have a six-figure paying job the day you graduate and you will never have to worry about finding work.
Starting your own business is no guarantee to becoming wealthy, in fact, only 40% of small businesses are profitable.
Unless you are extremely lucky or unbelievably talented, education is the key to consistent, well-paying careers. Good luck!
Starting your own business is no guarantee to becoming wealthy, in fact, only 40% of small businesses are profitable.
Unless you are extremely lucky or unbelievably talented, education is the key to consistent, well-paying careers. Good luck!
04-23-2009, 12:08 AM
#27
A friend of mine's brother did that. He was a truly industrious young guy in college, and ran his own retaurant on the college campus where he was also a student. He had two restaurants by the time he graduated, and then married his girlfriend whose parents had really big money. They donated most of the money to build a large hospital complex for a major university. The hospital bears their family name.
Anyway, after getting married, his wife wanted to move to Florida, and that was the last time he really worked for a living. I saw him a few years ago (about 30 years since he graduated from college), and he couldn't even look me in the eyes. The fire had just completely gone out of him.
Better to marry for love, and build your fortunes together. It worked for my wife and I, and we've been married for 32 years. She sold her company 3 years ago, and I sold mine 5 years ago.
Anyway, after getting married, his wife wanted to move to Florida, and that was the last time he really worked for a living. I saw him a few years ago (about 30 years since he graduated from college), and he couldn't even look me in the eyes. The fire had just completely gone out of him.
Better to marry for love, and build your fortunes together. It worked for my wife and I, and we've been married for 32 years. She sold her company 3 years ago, and I sold mine 5 years ago.
04-23-2009, 10:13 AM
#29
_Sloth Whisperer_
Member Since: Jul 2008
Location: Malaysia Air Flight 370
Posts: 3,372
Likes: 0
Received 9 Likes
on
6 Posts
Bring your degree to Iraq. Or Afghanistan if you're gonna be another year. The 24 year old sitting next to me got out of the military after 4 years, and silly me, I reenlisted. Now, we're side by side doing the same job - him in civilian clothes on gov't contract (no degree), and me in camo on military contract. I will barely clear 62k this year. He will clear 192k. He's been here two years straight now.
Food for thought.
Food for thought.
04-23-2009, 10:20 AM
#30
Instructor
Member Since: Jul 2008
Posts: 101
Likes: 0
Received 0 Likes
on
0 Posts
St. Jude Donor '09
Find an industry you are interested in (have passion for). Get a job, working for someone else in that industry and make your mistakes on their dime. Start your own business, and don't make any mistakes. Also, read E Myth Revisited.
04-23-2009, 10:58 AM
#31
Burning Brakes
04-23-2009, 11:28 AM
#32
Safety Car
Member Since: Apr 2007
Location: Live in S.Dayton, Work in Cincinnati Ohio
Posts: 3,661
Likes: 0
Received 3 Likes
on
1 Post
Short of finding a rich spouse, you're boned! 
Seriously, my advice is to either start and own your own business or go to graduate/professional school. Assuming that at 20 you're either a junior or a senior, if you go the school route, you'll spend the next 4-7 years getting a degree and then you WILL have to start paying back the loans that got you there (assuming that you need loans and don't do it with scholarships - I was too dumb to get any). BUT, with such degrees, you typically can get starting salaries that allow you to buy things like ZR-1s if you're young, single and otherwise live frugally.
Realistically, all of the people that I know that have that kind of scratch without having to go to school are business owners. It's easier said than done to start/grow/buy a successful business, but if you've got a niche figured out, you're half the way there.
Seriously, my advice is to either start and own your own business or go to graduate/professional school. Assuming that at 20 you're either a junior or a senior, if you go the school route, you'll spend the next 4-7 years getting a degree and then you WILL have to start paying back the loans that got you there (assuming that you need loans and don't do it with scholarships - I was too dumb to get any). BUT, with such degrees, you typically can get starting salaries that allow you to buy things like ZR-1s if you're young, single and otherwise live frugally.
Realistically, all of the people that I know that have that kind of scratch without having to go to school are business owners. It's easier said than done to start/grow/buy a successful business, but if you've got a niche figured out, you're half the way there.
04-23-2009, 04:28 PM
#34
Burning Brakes
Besides starting your own business or going through years and years of school, my only other suggestion is becoming a professional athlete 
I feel extremely blessed to be in the situation I am currently in but it's still tough. I dreamed of the day I would own a corvette and at 27 I just bought a new Z06. But, I did this after getting out of renting and buying a house, paying off my wifes school debt, paying off our other vehicle, paying off all credit cards, and maxing out IRA's among other long-term investments.
If I didn't work my *** off, be very fortunate and a little lucky it would have been many years until I could afford a toy like this. I am currently working on an online MBA because basketball won't last forever. To all those who have started their own business and are successful I salute you. In college we learned approx. 70% of new businesses fail within the first couple years. You really have to have something unique, an unbelievable work ethic, and committed to be in it for the long haul to succeed.
If you want something bad enough there is always a way to reach it. Best of luck
I feel extremely blessed to be in the situation I am currently in but it's still tough. I dreamed of the day I would own a corvette and at 27 I just bought a new Z06. But, I did this after getting out of renting and buying a house, paying off my wifes school debt, paying off our other vehicle, paying off all credit cards, and maxing out IRA's among other long-term investments. If I didn't work my *** off, be very fortunate and a little lucky it would have been many years until I could afford a toy like this. I am currently working on an online MBA because basketball won't last forever. To all those who have started their own business and are successful I salute you. In college we learned approx. 70% of new businesses fail within the first couple years. You really have to have something unique, an unbelievable work ethic, and committed to be in it for the long haul to succeed.
If you want something bad enough there is always a way to reach it. Best of luck
04-23-2009, 04:40 PM
#35
Burning Brakes
Besides starting your own business or going through years and years of school, my only other suggestion is becoming a professional athlete I feel extremely blessed to be in the situation I am currently in but it's still tough. I dreamed of the day I would own a corvette and at 27 I just bought a new Z06. But, I did this after getting out of renting and buying a house, paying off my wifes school debt, paying off our other vehicle, paying off all credit cards, and maxing out IRA's among other long-term investments.
If I didn't work my *** off, be very fortunate and a little lucky it would have been many years until I could afford a toy like this. I am currently working on an online MBA because basketball won't last forever. To all those who have started their own business and are successful I salute you. In college we learned approx. 70% of new businesses fail within the first couple years. You really have to have something unique, an unbelievable work ethic, and committed to be in it for the long haul to succeed.
If you want something bad enough there is always a way to reach it. Best of luck
I feel extremely blessed to be in the situation I am currently in but it's still tough. I dreamed of the day I would own a corvette and at 27 I just bought a new Z06. But, I did this after getting out of renting and buying a house, paying off my wifes school debt, paying off our other vehicle, paying off all credit cards, and maxing out IRA's among other long-term investments. If I didn't work my *** off, be very fortunate and a little lucky it would have been many years until I could afford a toy like this. I am currently working on an online MBA because basketball won't last forever. To all those who have started their own business and are successful I salute you. In college we learned approx. 70% of new businesses fail within the first couple years. You really have to have something unique, an unbelievable work ethic, and committed to be in it for the long haul to succeed.
If you want something bad enough there is always a way to reach it. Best of luck
*sigh* I can't wait til the day I have to help pay for my girlfriend's education. I know her dad is going to try and shove her sh** on me.
NO way in hell I'll let my vette go to pay off a debt he promised her he'd pay
04-23-2009, 04:55 PM
#36
04-23-2009, 05:35 PM
#37
Burning Brakes
At least you have your vette already, that's the most important thing. If it comes to selling it to pay off her debt then tell her she's got another thing coming. My wife's parents paid for her college, then we got married and she went back to grad school so we're stuck with that one.
04-23-2009, 05:52 PM
#38
Le Mans Master
It's sad for me to read what you just wrote, as I know it's tough out there. But, there are always opportunties for those who desire to get ahead in life, regardless of the economy.
It takes keeping your eyes open for opportunities; jumping on those opportunities when they present themselves; working as hard and long as it takes to learn quickly and become proficient; having the drive to become the very best in your profession above everyone else; maintaining a lifestyle below your earning capacilty so you can save money (money in the bank is financial freedom); trying to keep your personal responsibilities at a minimum so you can do whatever it takes to get ahead in your work (meaning, wait to have kids, and don't weigh yourself down with a lot of loans, etc. until you start to have some financial breathing room); and luck!
Once you have established your own business (preferably one that does not need money tied up in inventories, and is not dependent on a large number of manpower), and it has become very successful...Then sell it to a NY investment banking firm, negotiate for as much money up front as you can, and work the remaining three year contract as hard as if you still own the business. You keep actively building the business during the length of your employment contract, so you'll be able to collect the remainder of the buy-out money that was held in arrears. Then, stay on as a part-time paid advisor for a number of years.
I'll also say that in the beginning, and once you find a profession that you feel has good earning potential, it's always best to learn how to become great in that profession while working for someone else and on their dime sort of speak. Then, you jump off and start your own business, knowing when the timing is right.
I don't own a ZR1, but do currently have a new '09 ZO6. I could drive anything I would want, but I'm still of the mind of spending only what I could possibly need (best bang for the buck expenditures)
It takes keeping your eyes open for opportunities; jumping on those opportunities when they present themselves; working as hard and long as it takes to learn quickly and become proficient; having the drive to become the very best in your profession above everyone else; maintaining a lifestyle below your earning capacilty so you can save money (money in the bank is financial freedom); trying to keep your personal responsibilities at a minimum so you can do whatever it takes to get ahead in your work (meaning, wait to have kids, and don't weigh yourself down with a lot of loans, etc. until you start to have some financial breathing room); and luck!
Once you have established your own business (preferably one that does not need money tied up in inventories, and is not dependent on a large number of manpower), and it has become very successful...Then sell it to a NY investment banking firm, negotiate for as much money up front as you can, and work the remaining three year contract as hard as if you still own the business. You keep actively building the business during the length of your employment contract, so you'll be able to collect the remainder of the buy-out money that was held in arrears. Then, stay on as a part-time paid advisor for a number of years.
I'll also say that in the beginning, and once you find a profession that you feel has good earning potential, it's always best to learn how to become great in that profession while working for someone else and on their dime sort of speak. Then, you jump off and start your own business, knowing when the timing is right.
I don't own a ZR1, but do currently have a new '09 ZO6. I could drive anything I would want, but I'm still of the mind of spending only what I could possibly need (best bang for the buck expenditures)
And while a lot of guys crack on them asking them if daddy bought it, there are some credible guys on here that work hard and use their head and swing a new Z06. Hats off to them for maximizing their tools and educations to get what they want.
04-23-2009, 06:09 PM
#39
Burning Brakes
Member Since: Jul 2006
Location: MD (or Ft Benning GA)
Posts: 1,027
Likes: 0
Received 1 Like
on
1 Post
A friend of mine that was an original member of the Flying Tigers in Burma China, drove off-shore race boats and owned "Donzi" at one time said....pick a job you love and you will never go to work a day in your life.
Many look for the get rich quick scheme. I don't know the statistic, but an extremely large percent of lotto winners are usually in worse condition after they've blown thru their winnings than before. They loose there job skills, motivation and succumb to depression.
The real answer is slow wealth accumulation through hard work, sound investments (like buying instead of renting at an early age) and I can't leave out - trust in God who rewards us in many ways. And remember, to whom much is given, much is expected......
Hang in there young man. If you want it bad enough, you will have it. One word of caution, be careful what you give up in exchange.
Many look for the get rich quick scheme. I don't know the statistic, but an extremely large percent of lotto winners are usually in worse condition after they've blown thru their winnings than before. They loose there job skills, motivation and succumb to depression.
The real answer is slow wealth accumulation through hard work, sound investments (like buying instead of renting at an early age) and I can't leave out - trust in God who rewards us in many ways. And remember, to whom much is given, much is expected......
Hang in there young man. If you want it bad enough, you will have it. One word of caution, be careful what you give up in exchange.
My contract ended, so it wont be me stopping anyone from being a pirate.
