Fast Freddy

just wait until Obama redistributes the wealth. then you will be in phat city

TTU

I'm an anesthesiologist (M.D.) that took 12 years to get where I am (4 years college, 4 years med school, and 4 years residency training). I'm 35 years old and I'm enjoying life to it's fullest!

Honestly, obtaining the ZR1 should be the last thing on your mind right now. Instead you should be focusing on how to finish college in a timely manner, and what will be your next step? Heck, I know people that have college degrees, and are still working at grocery stores because they cannot find a job related to their degree. I even work with surgeons that make up to 1-2 million per year, and they live month to month!!!!!!!! These guys don't know how to manage their money, and they end up biting off more than they can chew.

For example, one of my surgeon friends has a home here in Lubbock, and 5 other properties scattered throughout the USA. In addition, he has a 20 car collection sitting in his 8,0000 sq. ft. home here. I also forgot to mention that he has several boats and a huge traveling RV. The guy spends all of his money on toys and the leisure life. He has never put a penny back for retirement and knows nothing about 529 college savings accounts for his kids, mutual/trust funds, VALs, Money Market Accounts...etc. He's f***ed!

Get your head straight in the game and do what it takes to eventually get one of these cars! Work hard now, and enjoy the rewards later! That's what I did. I own a C6 Z06, and believe me, If I wanted to I could buy a C6 ZR1 right now! Do I need one? No! Nobody needs any of these cars! Will I likely buy one? Possible. But, the point I'm making to you is: You can't be spoon fed and expect for daddy to drive down to BG and buy you a ZR1. Finish college, and pursue education even further than that (i.e., post-grad, Ph.D...). Think ahead of what is most important in life: Zero debt, secure retirement with a positive net worth.

I could keep writing, but I think I got my message across, and this is coming form someone who was raised poor as hell, and worked my butt off to get to where I am. You can do the same thing!

cheers,

TTU

breakskeet

True words of wisdom!

cheers!

PWRNXS

Hopefully you'll graduate with as little debt as possible. If not, get that cleaned up as soon as you can. And RENT, don't buy thinking that's the responsible thing to do.

The task only seems so daunting because you're thinking about how little cash you may have at the moment. I was once in those shoes. But you know what, I got a handle on my finances and put off the dream of owning a Vette for five years. It may seem like a long time while you're building up the cash but in the end that time flew by and that measly $4-$500/mo added up and I had put enough away for a brand new C6.

Put off your gratification until you're 30 and you'll be able to afford a car 99% of the population never dreams they could own. But our culture is all about having it now and that's where people get themselves into messes. Good luck with school, take the tortoise approach, and you'll get there.

beden1

Very good post.

It's a shame most people never got the generational concepts of working hard, building a nest egg, saving for a rainy day, neither a borrower or a lender be, etc. If most people had, this country would not be in this current economic meltdown.

Except for some of the drug dealers, rap artists, professional sports athletes, internet site creators, bond traders, and a handful of other fortunate young people (under 35) who became virtual instant millionaires...there are relatively very few people in this country (probably in the top 5%) who could actually reasonably afford to buy the expensive super cars, houses, boats, jewelry, and whatever else that had become perceived "entitlements" for many others. The same thing is true of other generations as well, who are now finding themselves under water in their personal net worths, largely due to poor financial planning, over spending, and heavy debt loads taken on to keep up with the Joneses.

But, it's also important to note, that many of the people in the top 5% of wealth status, are not the ones who buy most of these symbols of wealth. They didn't get there, and stay there, by throwing their money around on chasing anything except on those relative things for their own personal gratification and needs.

dubseven

Fixed it for you

jnel04

100% agreed

cam355aro

All of your replys are amazing and I really enjoy reading them. I appreciate the help and ideas from everyone.

As to the post about getting in debt about the student loans; I am in school under scholarship and only pay for gas and food. My major is accounting right now but I am not so sure right now with spring semester coming to a close.

Keep the advice coming!

beden1

You're a young guy in college now with little responsibilities or obligations. Later, you'll no doubt get married and have kids, buy a home, have to save for the kid's education, for your retirement, and all of the expenses that come in between.

Here's a decent article I just read about how even many millionaires worry that their money may not last them through their retirement years. Read the reader responses that also give some food for thought.

http://moneyfeatures.blogs.money.cnn...g-well-either/

427vette

I can relate to that. After college, it didn't take me long to figure out that the title of "financial analyst" meant posting journal entries with the accountants for the rest of my natural born life while never being able to afford the car I loved. I threw in the towel at the office and pursued my true passion, dismantling wrecked corvettes and selling the parts.

What the other guys say is true. I haven't worked a single day in ten years, and have the perfect treatment for my Obsessive/Complusive Disorder where I get to buy several corvettes EVERY month. Since I am the only employee, I get plenty of free time to play with my three kids, and now own some Corvettes that I would have NEVER dreamed I could have fresh out of college ten years ago (I do have a ZR1, but its just a C4).

Remember also, people's perception of your profession doesn't have to be fancy. I have several friends like me who traded an office job for much bigger money to live in the trenches of "grungy" businesses, like clothing salvage, biohazard disposal, or lawn care. Staying below the radar and below your means seems to be the wisest choice in the brave new world we're living in. Chase the dream, not the money, and surprisingly enough the money will come your way.

The_Hulk

Personally, I don't want a big house. A decent house with a garage in a decent neighborhood is all I want. I have no kids but if I ever do, I have no plans on paying their way through college. The hell with that! Nobody paid my way through anything, having to do for myself made me who I am today. If my kid wants to go to college he/she better have scholarship grades or be damn good in sports and get sports scholarship. Otherwise, I'll take their *** down to the nearest military recruiter and have them sign up. Sorry, unless I hit the lotto or somehow end up making millions...I'm not paying for some little poor gpa having and/or unathletic kid to go to college.

beden1

And, what are you today?

This is a very selfish attitude. Let us know how you feel, when and if you ever get married and do have kids with that philosophy.

The_Hulk

What am I today? A man who can look at himself in the mirror and see an independent man who can do for himself staring back at him. If I buy a ZR1...I bought a ZR1 because I feel I earned it. Mommy and daddy didn't pay my way though college and they never bought me anything outside of providing a shelter, clothes, and food (which was all I needed).

The_Hulk

Look, I don't want to come off as if I wouldn't support my child. I'd do the best I could to set him/her up for success. But sooner or later that child has to learn that if they want something in this world they have to work for it and earn it. One of my co-workers just got fired and he can't keep a job to save his life because his parents GAVE HIM EVERYTHING. Brand new BMW on his 16th birthday! They payed for him to go to college as well! Does he appreciate it?? HELL NO! He feels like that's what they're supposed to do for him because he's their son. He's entitled to cars and an expensive education? At work, whenver he got assigned a task he didn't want to do or felt it was "beneath him" he flat out wouldn't do it! Management got tired of him and sent his *** packing a few weeks ago. I hope his *** moves back in with his parents so they can see what good all that money they spent on him did.

vette6799

In my family, and it has been this way for several generations, education is considered the key to the kingdom. That is the gift parents give their kids. From an early age, you know that you will go to college and professional school after that. For the most part, it has succeeded remarkably well with my parents, most of my cousins and their kids with most everyone going to law school, med school or getting an MBA. While it is not the only way to achieve success, it certainly helps having it said to you from an early age that you are expected to go to college +. The other thing I encouraged my kids to do was to get a technical education, engineering being preferred, as your basic degree, as I am convinced that the skill set required for a technical education puts you in good shape for making valid, educated decisions for the remainder of your life. Plus, after engineering, everything else is easy. I suspect that most engineers on CF will concur.

I, on the other hand, went to grad school and law school at night, and bought a brand new 7 liter vette right out of college in 1967 and made payments for three years. Of course, the price of the car was in the mid 4's (4K, that is).

GOLD72

I second that!!

petefias

I could afford a ZR1. Instead of buying one, I'll be paying college tuition for my lovely daughter. I can't afford both. She is beautiful, smart, nice and a hard worker. First honours throughout HS. Her academic scholarship covers only part of the cost.

Anyone who didn't mind paying over MSRP (because it wasn't a big deal) want to donate to her scholarship fund? It would be most appreciated. Please PM me if you feel genereous and so inclined. Thank you.

flyin ryan

When it comes to the things we're talking about here, cars (toys), I live by a simple self-imposed rule...If i can't afford it, meaning pay for it with 'My' own cash up front, i don't need it. I only have one credit card that I use mostly for buying parts for the engines i build, on the day the statement shows up I write a cheque & drop it in the mail. I'm not going to be a slave to the interest Gods, that's a killer that can be a run-away train for some.

larrysb

Sounds like my dad.

I was out on my own entirely by age 18. Mostly on my own at 16.

I tend to favor the let them make their own way in the world, but it is a tough row to hoe for certain people. It is really, really hard to complete a college degree in the more difficult subjects, like Electrical Engineering, at night with only money you earn yourself in the daytime. It can be done, but boy, a little help would make it a lot easier. Engineering school was entirely unsympathetic. "You want to be an engineer? Well, quit working and come to school in the daytime."

I think there's probably a balance there somewhere.

On the other hand, I watched a LOT of kids squander the opportunities their parents had set out before them in college.

neveroffline

You are going to clear $62k at 24 in the military? Really?

What is it that you do exactly, or is that classified?