[ZR1] An envious college student
05-06-2009, 07:34 PM
#81
Hell, you can ask the same thing of the ZR1. 
Many of us we *can* afford a ZR1 don't buy it because we've convinced ourselves that the ZR1 isn't worth the nearly $100k market premium over the base model corvette.
Then again, maybe we can't *really* afford it if we have to compare the value of a ZR1 versus the base C6.
Many of us we *can* afford a ZR1 don't buy it because we've convinced ourselves that the ZR1 isn't worth the nearly $100k market premium over the base model corvette.
Then again, maybe we can't *really* afford it if we have to compare the value of a ZR1 versus the base C6.
The ZR1 is MSRP $105k. Who you kidding?
05-06-2009, 07:56 PM
#82
Team Owner
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.
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.
Yeah me too! I'll even clean the dishes and won't talk back!
05-07-2009, 11:29 PM
#84
Le Mans Master
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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 lose their 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 lose their 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.
This is great advice ....although there are many other great points expressed in this thread. My 2-cents to you from 40 years of experience after school is this ...... other than your house......... never buy anything until you can afford to pay cash for it..... don't buy things on time payments and you'll be much happier and probably live longer
05-08-2009, 06:07 PM
#86
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Don't want to sound like a downer but the chances of you getting one on your own anytime soon are probably next to nill. Especially with the way the economy is at the moment, good luck finding a job that will even pay 24K a year. I'm in that situation right now fresh out of college.
Once out of college, you have to think about repaying student loans, insurance on the Corvette you already have (if that's the one in your av), rent for an apartment, health insurance, money towards a savings account, groceries, other living requirements and pretty soon you'll realize you won't be owning a ZR1 for a very very long time.
When I was 20, my mind was always planning how I would restore my old 85 but it's funny how time changes you. At almost 26 years old, I find that the Corvette is an after thought when it comes to the other things the real world presents you. I spend more time these days worrying about getting student loan repayments in order and putting money away in savings than anything Vette related.
Considering all the doom and gloom around here, the ZR1 will be short lived and fall into the hands of collectors that will cause the prices to skyrocket even further. Maybe it's just a phase and it will pass, there's nothing wrong with lusting after the ZR1 but when I see C6 Z06 owners wishing they could afford one, it's kind of hard for the lesser well off people (financially speaking) to aspire for one.
I love the ZR1 but thank goodness I pine for the C4 ZR-1 which can be obtained (for now...). Here is to proving me wrong, cam355aro but I say be happy with what you've got.
I'd much rather hot rod the old stuff to hang with the new stuff anyway, straight line wise that is.
Once out of college, you have to think about repaying student loans, insurance on the Corvette you already have (if that's the one in your av), rent for an apartment, health insurance, money towards a savings account, groceries, other living requirements and pretty soon you'll realize you won't be owning a ZR1 for a very very long time.
When I was 20, my mind was always planning how I would restore my old 85 but it's funny how time changes you. At almost 26 years old, I find that the Corvette is an after thought when it comes to the other things the real world presents you. I spend more time these days worrying about getting student loan repayments in order and putting money away in savings than anything Vette related.
Considering all the doom and gloom around here, the ZR1 will be short lived and fall into the hands of collectors that will cause the prices to skyrocket even further. Maybe it's just a phase and it will pass, there's nothing wrong with lusting after the ZR1 but when I see C6 Z06 owners wishing they could afford one, it's kind of hard for the lesser well off people (financially speaking) to aspire for one.
I love the ZR1 but thank goodness I pine for the C4 ZR-1 which can be obtained (for now...). Here is to proving me wrong, cam355aro but I say be happy with what you've got.
I'd much rather hot rod the old stuff to hang with the new stuff anyway, straight line wise that is.ummm... im 22 years old, make 55k a year plus benefits and bonuses, just bought my own house, no college degree, own a Z06, cobalt SS supercharged, and my help out my girlfriend with her 2004 RSX.
i live in utah, i am the lead mechanical engineer/designer at our company and im by no means "well off"
if your not making 24k with a college degree you got the wrong degree or you need to move
05-08-2009, 06:49 PM
#87
Le Mans Master
ummm... im 22 years old, make 55k a year plus benefits and bonuses, just bought my own house, no college degree, own a Z06, cobalt SS supercharged, and my help out my girlfriend with her 2004 RSX.
i live in utah, i am the lead mechanical engineer/designer at our company and im by no means "well off"
if your not making 24k with a college degree you got the wrong degree or you need to move
i live in utah, i am the lead mechanical engineer/designer at our company and im by no means "well off"
if your not making 24k with a college degree you got the wrong degree or you need to move
Everyone's situation is different. And yeah, I would say you're pretty damn well off if you have your own business, a Z06 that you pay insurance, payments on, a performance cobalt, your own house AND helping your girlfriend pay off her car. All that while most people start off with used economy cars and just one car at that. That aside, you have your own health insurance you deal with as well and the list of other money sappers, all of this on your own. If that's not well off I don't know what is, so be thankful for what you have.
Did you start your own business or was it given to you to take over? A college degree is by no means a guarantee, just the assumed leg up over those that don't obtain one. And a lot of people don't go to college because they're making good money and think the river will never run dry but things happen. Then you're out on your butt with just a ged or highschool diploma. Not saying that's what will happen but you'd be surprised at what CAN happen. It's not in writing you'll instantly get that awesome job just out of college, some get it, and some have to wait. I fall into the latter category.
Last edited by 1985 Corvette; 05-08-2009 at 06:53 PM.
05-09-2009, 09:54 AM
#88
Melting Slicks
But there are some small businesses, particularly in manufacturing, that generate insane profit margins. Develop a product that no one else has - where the market is too small to keep the big boys out and too expensive to start, keeping every Tom, Dick, and Harry out. Finally, always do your best, do what you promise, deliver on time. Reputation is golden and a prime factor.
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!
05-12-2009, 12:17 PM
#89
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I can't give you a turn by turn map to getting where you want to be, but here's a few things that have worked for me and many of my friends I've learned from or shared this with:
To me, starting without wealth the first thing you have to do is have the desire and dedication to be wealthy. Find something you really love doing with a passion and figure out a way to make money with it....
I started earning money working as a Fireman. I took that money and started a company. Took that money, grew the company some and started another. Then another. Spent my time learning things not academic but financial and business management. From there I began learning how to invest in all different markets. Here is where you can make a lot of extra income IF you know what you're doing.
Some things to take into consideration though. PLAN where you want to be and work backwards from that thought on how you are going to get there. Set goals, TAKE ACTION to meet those goals! You won't meet all your goals but you can NEVER give up. Ever heard "Fail to plan = plan to fail"? Most people I know that want to be 'rich' but aren't because all they do is 'Want', but don't 'Do'. PROCRASTINATION, fear, and complacency in your everyday routine keep most people right where they are. Step outside the box. Take risks, although calculated. Make your earned money work for you - not you work for your money. In other words, take your earned money and invest it wisely into something that will make more money (i.e. - a business, certain real estate right now you can steal and generate cashflow with, gold & silver, the stock market or foriegn exchange). Don't go throwing your hard earned money into an investment you don't understand though! Due diligence is key. In the mean time save as much of your earned income towards that plan on a routine basis.
Stay out of debt and work toward your goals. Lastly, When you do finally start earning some income, don't leave your savings all in US $.... with the economic storm brewing the imminent fall of the dollar could be a fault line ready to shift. You could be worth a couple million and the dollar loses 70% of it's value, then where will you be?
If you truely want something, with passion, don't ever give up. Success is found in the ability to endure failures. (and they are part of the process)
Best of luck
To me, starting without wealth the first thing you have to do is have the desire and dedication to be wealthy. Find something you really love doing with a passion and figure out a way to make money with it....
I started earning money working as a Fireman. I took that money and started a company. Took that money, grew the company some and started another. Then another. Spent my time learning things not academic but financial and business management. From there I began learning how to invest in all different markets. Here is where you can make a lot of extra income IF you know what you're doing.
Some things to take into consideration though. PLAN where you want to be and work backwards from that thought on how you are going to get there. Set goals, TAKE ACTION to meet those goals! You won't meet all your goals but you can NEVER give up. Ever heard "Fail to plan = plan to fail"? Most people I know that want to be 'rich' but aren't because all they do is 'Want', but don't 'Do'. PROCRASTINATION, fear, and complacency in your everyday routine keep most people right where they are. Step outside the box. Take risks, although calculated. Make your earned money work for you - not you work for your money. In other words, take your earned money and invest it wisely into something that will make more money (i.e. - a business, certain real estate right now you can steal and generate cashflow with, gold & silver, the stock market or foriegn exchange). Don't go throwing your hard earned money into an investment you don't understand though! Due diligence is key. In the mean time save as much of your earned income towards that plan on a routine basis.
Stay out of debt and work toward your goals. Lastly, When you do finally start earning some income, don't leave your savings all in US $.... with the economic storm brewing the imminent fall of the dollar could be a fault line ready to shift. You could be worth a couple million and the dollar loses 70% of it's value, then where will you be?
If you truely want something, with passion, don't ever give up. Success is found in the ability to endure failures. (and they are part of the process)
Best of luck
05-19-2009, 10:13 PM
#90
Safety Car
There's lots of good advice here.
I put myself through college and grad school, primarily through student loans. I graduated with my MBA, and it took me about a year and a half to find a decent job in our area. I'm 27 now and have been a financial advisor for 2 years. Almost every day is still very hard. Many things I do on a daily basis may not pay off for a year (or years), but I'm "paying my dues" and trying to make smart decisions.
It's hard to watch friends and peers buy nicer homes, vehicles, toys, etc. But most of them are upside down in everything they do and not saving anything worth counting. I have a modest house and have driven the same car for the past 11 years (since 16). I have an investment account for retirement and to capture the market opportunity that's come through the past year, a cash savings for emergencies, and am paying down as much debt as possible. It's definitely a sacrifice, but I know it will be worth it in years to come - when previously mentioned friends will still be struggling.
My advice to you is start now. Start saving. Start planning for a field/career of interest. Start getting involved and meeting people - network! And as mentioned before, trust in God.
I put myself through college and grad school, primarily through student loans. I graduated with my MBA, and it took me about a year and a half to find a decent job in our area. I'm 27 now and have been a financial advisor for 2 years. Almost every day is still very hard. Many things I do on a daily basis may not pay off for a year (or years), but I'm "paying my dues" and trying to make smart decisions.
It's hard to watch friends and peers buy nicer homes, vehicles, toys, etc. But most of them are upside down in everything they do and not saving anything worth counting. I have a modest house and have driven the same car for the past 11 years (since 16). I have an investment account for retirement and to capture the market opportunity that's come through the past year, a cash savings for emergencies, and am paying down as much debt as possible. It's definitely a sacrifice, but I know it will be worth it in years to come - when previously mentioned friends will still be struggling.
My advice to you is start now. Start saving. Start planning for a field/career of interest. Start getting involved and meeting people - network! And as mentioned before, trust in God.
05-19-2009, 10:48 PM
#91
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Im by no means able to get a ZR1 at this time comfortably, but I have a plan that I hope works out for me in the future. I have a good job that this year will allow me to make 100K this year if I choose to work enough. I live at home and have been investing in stocks and recently purchased a rental property that is doing really well for me. I plan on opening an RV park or a self storage facility in the near future and hope to keep things rolling foward from that point. Without a ton of education the only way I see to make really good money is to open a business you can hire someone cheap to run it for you so you can stay focused on further increasing your wealth. Any suggestions for me?
05-20-2009, 04:23 AM
#92
Team Owner
Im by no means able to get a ZR1 at this time comfortably, but I have a plan that I hope works out for me in the future. I have a good job that this year will allow me to make 100K this year if I choose to work enough. I live at home and have been investing in stocks and recently purchased a rental property that is doing really well for me. I plan on opening an RV park or a self storage facility in the near future and hope to keep things rolling foward from that point. Without a ton of education the only way I see to make really good money is to open a business you can hire someone cheap to run it for you so you can stay focused on further increasing your wealth. Any suggestions for me?
As far as hiring someone to run your facility is concerned, from my experience, most new businesses require an awful lot of hands on involvement during startup. After that, you still need to be intimately involved until you are sure things run smoothly. That can go on for quite some time. There is not shortcut but in the end it will be worth it if you persevere. Good luck.
