I'm over 1/3rd the way to A Milli(million dollars)... new to forum... not new to the process

[GuestUser140]

Their parents are always so gracious and actually had one say "see son, the people who own these cars are actually nice people"... Glad to break the stereotype.

 

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[Wolf0427]

This is awesome. Freedom is the goal.

 

[theferrariboy]

I graduated from high school last year and for a long time was stuck between majoring in engineering entrepreneurship both things i was highly interested in. I emailed a person local to me who i looked up to highly and had his bachelors in Entrepreneurship and was very succesful and asked his opinion on it and what he said to me I found very helpful. He said to me that a business degree is not as valuable as a good business sense. So I ended up majoring in engineering and learning as much about entrepreneurship on my own time.

Engineering is a good choice. It's all about preference. While entrepreneurship was good for me, engineering is good to tackle a specific field. Most likely you will find a need within the engineering community and create a business out of it. There are plenty of great entrepreneurship books you can read that can teach you what is teachable, you cant teach work ethic however.. You can condition yourself to work hard, but it comes from a need created from within, not from a book.

 

[HyperFocus]

It was pretty insane. I video documented the whole thing and am putting together a documentary for myself for the whole process of purchasing my first Ferrari. It was definitely a pinch me experience. I did a little 3 hour road trip in it when I first bought it which was so much fun. People taking pictures, asking what I do for a living, and stuff like that.

I love pulling up to a populated place where the let me park it up front in front of all the restaurants and people see me get out and look in disgust and in awe at the same time.

But my absolute favorite moments are when I see little kids getting their pictures by it. Whenever I see this I always offer to let them sit in the car and get their picture in it. This goes back to when I was 16 seeing a guy with my dream car and him being so nice to me. I never forgot that and he inspired me so hopefully I can be that inspiration for the kids that get their pics in the car. Their parents are always so gracious and actually had one say "see son, the people who own these cars are actually nice people"... Glad to break the stereotype.

I own a 3 bedroom condo in NC and have 2 roommates who rent the other 2 rooms generating me an extra 900$ per month I wouldn't otherwise have which more than covers my expenses. For the place, I undercharge them because they are friends of mine and I completely trust them and like helping out my friends. I don't have a mortgage on the place, paid cash entirely so I net after all expenses, even my share of the utilities, around 500$ a month. I'm only "home" about 4 days a month. The rest of my time I spend in Florida, Michigan, Tennessee, Georgia, Arizona, or wherever I want.

200k+ net worth increase requires you make a lot more than that . I live the life I want to live for around $2000 per month or less.

-theferrariboy

Amazing man. Good work!!

Im 26 and have around 200k, I also took time off to travel, read, meet people and learn a new language. Ive been having itchy hands and will start a new consumer brand in April, have been working on it for a month while still being abroad.

Tell us, how did you make another 200k in 1 year? Investments?

I also like how you are smart with money and dont spend like cray.

Come visit me if you are ever in Europe.

 

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[SenGracic]

Impressive, congrats on your success !!!

 

[Ubermensch]

Pics with a Fastlane Forum placard or it didn't happen!!!

Did dude ever post pics?

 

[fhs8]

Wow what a success story. Hopefully that's me in 5-10 years. IRA route doesn't work after you make a certain amount of income. Try having both an SEP-IRA and 401k. I believe the max limit you can contribute per year and get tax advantages is just over 50k. Also look at some municipal/state bonds that are state/federal tax free. At higher income brackets this makes them a lot more attractive especially if tax rates go higher for the rich in the future. No difference in ROI for an investment gaining 10% a year but taxed at 50% compared to an investment that's tax free gaining 5% a year. Something to think about.

 

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[Ubermensch]

Did dude ever post pics?

Hm.

Silence can sometimes serve as a tacit answer.

 

[theferrariboy]

Hm.

Silence can sometimes serve as a tacit answer.

Sorry man I don't post too much here and honestly just saw this but other than my profile pic I didn't post a picture yet... but since just anyone can post a picture of a ferrari... here is a pic of the title to my car (with my details blurred out) ... hope this quells some of your doubt... It is in Florida so when I get back there Ill print out a fastlane forum logo and take a pic with the car.

 

[illmasterj]

Kind of a small detail in your post but I would be very interested in hearing more about this. Going to college is a bit of a hot topic on here, some say you should do it, others say you shouldn't. Just to give you a bit of backstory, I finished highschool in July. I got accepted into some decent universities but decided to "take a year off" instead, the truth is I don't know if I'm taking a year off or never going to university yet.

Check out the edX entrepreneurship courses through MIT. They are free and may give you an insight into what college is all about. Though I dropped out 6 months into my degree. Best thing I've ever done!

 

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[gabeb1920]

Congrats @theferrariboy Awesome work! Inspiration for me to work harder than ever to achieve the dream! Thanks for the post!

 

[Andrewski]

Care to share some info how you made that big gain? I feel like I'm where you were 2 years ago. 25, 300k net worth mostly slow lane. I work a 120k/year job + 2 rental properties and live quite happily off $1500/month.

 

[steve10765]

Let's see that Ferarri boy!

 

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