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23 January 2018, 01:55 AM | #1 |
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Saving for a Ferrari California
In my wildest dreams, I have never imagined that I would be able to afford such a car.
And I still really cant. I mean I could, but it would be a very stupid move. If I am being responsible at all, it is a complete waste of hard earned savings that I have plans for. However, as I am thinking about things, why not plan for the next few years. Without boozing these last few weeks, I have saved an embarrassing amount of money. If I could stay off the sauce (appears pretty easy right now) and save what I was spending....with a little more on top. In 4 to 5 years, I can likely afford to pay in cash. This would not effect my retirement planning, savings planning, when I die planning, or my watch/vacation fund. Well, it would mean a serious change to my watch habit. But that has been changing, albeit slowly, for the last year or so anyway. The challenge is that, in this regard, I am not a long term thinker. I have not had a watch or a car, last me near to three years....let alone set a savings plan for that long (besides retirement and long term investments). But...upon continued thought. This is a worthy goal for a guy that has always dreamed about a Ferrari. So that is my new goal. And I figured I would share it with all you fine folk. Wish me luck...I am going to need it.
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23 January 2018, 01:58 AM | #2 |
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Maybe if these MJ stocks really hit, it will speed up my timeline....
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23 January 2018, 02:05 AM | #3 |
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Good Luck Seth, I think you will be there sooner you think
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23 January 2018, 02:09 AM | #4 |
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In the grand scheme of things, it’s just around the corner.
Staying disciplined will be the hard part. Have you considered starting a seperate bank account for the Ferrari fund that you have to purposely plunder to use the funds? |
23 January 2018, 02:12 AM | #5 |
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Thanks brother. I hope you are right.
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23 January 2018, 02:13 AM | #6 | |
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Quote:
I am going to turn the watch fund into he Ferrari fund. I have a couple of bucks in it already so I have a small start. Thanks for the encouragement.
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23 January 2018, 02:14 AM | #7 |
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California?
You gotta set your dreams up higher bro! |
23 January 2018, 02:15 AM | #8 |
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Will be an epic incoming thread.
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23 January 2018, 02:16 AM | #9 |
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Cmon.
That’s just brutal.
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23 January 2018, 02:20 AM | #10 |
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Hmm, never thought of that.
If i stopped I could buy it next Monday. |
23 January 2018, 02:20 AM | #11 |
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23 January 2018, 02:21 AM | #12 | |
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Quote:
I have a sneaky suspicion you could afford it either way.
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23 January 2018, 02:23 AM | #13 |
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Bueller? Bueller??
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23 January 2018, 02:25 AM | #14 |
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For the love of god, how much could one save by stopping drinking to buy a Ferrari? That's a LOT of drinking.
Good luck on your fund. It's sure as hell a lot healthier than drinking. |
23 January 2018, 02:32 AM | #15 |
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Your liver will thank you Seth.
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23 January 2018, 02:33 AM | #16 | |
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Quote:
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23 January 2018, 02:33 AM | #17 | |
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Quote:
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23 January 2018, 02:33 AM | #18 |
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23 January 2018, 02:35 AM | #19 | |
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Quote:
That has saved a fortune.
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23 January 2018, 02:35 AM | #20 | |
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Quote:
Not sure I can let that go though. Gotta have some vices.
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23 January 2018, 02:36 AM | #21 |
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23 January 2018, 02:36 AM | #22 |
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I could probably buy a moped if I stopped drinking.
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23 January 2018, 02:37 AM | #23 |
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Without question. It already seems to be.
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23 January 2018, 02:38 AM | #24 |
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Lol same here. Ferrari money on booze in a few years time, damn that is expensive liquor.
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23 January 2018, 02:43 AM | #25 | |
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Quote:
But the dinners and the dumb things I agree to or do while boozing. It added up fast.
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23 January 2018, 02:45 AM | #26 |
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Great plan Seth. I have been sober 20+ years and do not miss it at all. All those funds go for other fun....
Using a separate account is a great way to accomplish this. I did exactly what you are describing a couple years ago, moved the watch fund into a car fund. Once I slowed down on watch flipping, there was really nothing I wanted watch wise so used the money for car instead. Wife was shocked as I had a dedicated watch fund for many years. Good luck brother!
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23 January 2018, 02:53 AM | #27 |
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If you are buying in 4-5 years maybe get a portofino, which is a california on steroids. I would also consider buying one with a mechanic you trust. They cover the repairs, part of the monthly, get to use it an amount you agree upon, you have the right to buy them out. I have heard though that if you buy new you get a 7 year warranty and 7 years of maintenance. You could also buy something that has been depreciated and is about to climb. Like a 360 would be very interesting, not old enough to be vintage, not new enough to be sought after, that is what my neighbor whispered to me once upon a time. I like the 456 manual as well. I was about to buy one, on the phone with the seller asking about condition when he told me he sold it (as we were speaking...).
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23 January 2018, 02:56 AM | #28 |
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23 January 2018, 03:19 AM | #29 |
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Sounds like a great plan seth! I need to get some investment properties rolling but I really want another 911 when the time is right. I should start a fund!
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23 January 2018, 03:21 AM | #30 |
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GT3 RS?
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