RU_MATRX

This is funny coming across these naive remarks. $70K cash in 4 months is good though I wouldn't flaunt that especially when using $70K cash to flat out purchase a car is just not financially sophisticated in any sense of the word. Maybe a multi-millionaire that is already set for life and doesn't need cash for anything might do something like that though the ones I know treat money as "King" and would rather hold on to it longer or apply it for greater wealth and leverage. Most of the ones in the top 1% of "income and net worth" ARE Definitely NOT Harvard MBA types or have a high degree of formal education though they would run circles around the "MBA" types just because of their applied experience and wisdom. They think differently and do not follow society's "standard" rules of success. Whether they have a degree or not, they were self-made not because of their formal education that made them stand out. That's the same delusion as stating that the richest people in Los Angeles are well-known rockstars and celebrities. That 1% of the world's highest wage earners would surprise you as to their spectacular variety of backgrounds and experiences in life. Institutionalized education, degrees and the rat race isn't how they achieved such overwhelming success. Case in point, try a search on the 'Net to see what comes about. Try "1% Wealthiest People" or "World's Richest People." BTW, only thing close to a Harvard MBA was Bill Gates who dropped-out his junior year as an Undergrad (Computer Science?). Most never even studied business formally.

Here's just the USA:

http://www.forbes.com/home/2003/02/2...naireland.html

Gekko

I could buy/pay cash for about 14 of your CL's. Do the math, wannabe.

THE MILLIONAIRE NEXT DOOR

1. They live well below their means.
2. They allocate their time, energy, and money efficiently, in ways conducive to building wealth.
3. They believe that financial independence is much more important than displaying high social status.
4. They do not chase status symbols.
5. They minimize their realized (taxable) income and short-term capital gains and investment costs and they maximize their unrealized income and long-term capital gains. (Tax-Free Money Market Funds, Tax-Free Bond Funds, Tax-Efficient Stock Mutual Funds, and Long-Term Holding of Individual Stocks)
6. They systematically "pay themselves first".
7. They chose the right occupation.
8. Their parents do/did not provide economic outpatient care.
9. Their adult children are economically self-sufficient.
10. They are proficient in targeting marketing opportunities.
11. They buy their cars and drive them for a long time. They believe that you AREN'T what you drive.
12. They never purchase a home that requires a mortgage that is more than twice their household's total annual realized income.
13. They are their own favorite charity.
14. They pay cash and avoid debt.

mjr24

"They think differently and do not follow society's "standard" rules of success."

Agreed, good statement, there is roadmap to success.
The things you listed Gekko are moot, just like the statement above. Not everyone does that stuff, not everyone cares. Ive seen millionaires with Bentleys, Ive seen them with Luminas. You sit here and talk, and do nothing to back up anything, you just have stories...you seem to imply you have all this money, but I guess you are one of those "next door" millionaires....yeah I hear about those alot, people who basically have it all in stock options and dont actually have the money, then one day they realize when they go to cash in, that they arent worth as much as they thought they were. Again, Im not a millionaire...yet, but Ill prefer to keep it in my own hands.

I have news for you...you dont get a medal if you end with alot of money. You cant take it with you. So congrats if you supposedly are rich...but for the time being you have an ES330. You are apparently much older, and saving up "for future wealth." Great, so you can enjoy your money for 5 years? I will prefer to enjoy it now and enjoy it again then.

RU_MATRX

What one drives doesn't determine the level of wealth or whether one is a multi-millionaire or NOT. A multi-millionare could drive say, an S600 just as well as an affluent person. Most likely Gekko has attained a high level of wealth just because he thinks exactly the way truly wealthy people think. Exactly. They don't teach those concepts in formal schooling. His list sounds more like a family legacy of sustained wealth for generations to come. That also doesn't mean that every individual strictly adheres to every point. Likewise, mature age isn't mutually exclusive with being "wealthy" although there is an association with again, being "financially sophisticated" that allows someone older to have their financial path successfully laid. I'm young though I completely respect peers that are 20+ yrs older than I am that give me insight to the REAL obstacles often cyclical in investments whether it's real estate or stocks.

That's the first step in financial sophistication. Practicing those concepts are much tougher to attain except through attitude, applied focus, experience, and time. I see a huge difference between my friends that our "millionaires" and those that are true "multi-millionaires" and those that are considered just "affluent" or middle-class. Each "tiered" financial class thinks completely differently from one another and spend/make their cash much differently. It's mentioned in any financial book though I see people that practice these concepts firsthand and have never read guidelines like these elsewhere. I highly regard a close friend of mine who is a true "multi-millionaire" who states that SUSTAINING wealth is the hardest step to becoming successful. How long can you stay at that level and go beyond? To him, it's easy for anyone to become a millionaire, BUT a whole different calibre towards becoming a multi-millionaire, and entirely a whole different league to becoming a Billionaire.

Net worth is what it comes down to, not superficial image and assets only. Btw, it's funny that this same friend is the biggest penny pincher I've ever met, treats material wealth with no emotion on the buy/sell, but loves the negotiation/deal close, but when he spends money he spends it BIG without any reserves. Those concepts listed by Gekko are actually pretty common knowledge and practiced by everyone who is truly "wealthy" and well beyond material possessions as a sign of wealth. They are making positive impacts in society and people's lives daily, yes, enjoying life to it's fullest, and for decades beyond when they leave this earth. MOOT? mjr24 that statement says it all about yourself. Maybe that's why you'll never understand why many wealthy people attained wealth with a majority of them living quality lives beyond just the secondary material aspect.

Ps: Where did the topic of stock options come about? Options can be best explained as a positive image of owning stock during the best of times and can't be considered an asset.

mjr24

Most likely Gekko has attained a high level of wealth just because he thinks exactly the way truly wealthy people think.

Well what is the way truly wealthy people think? Share this secret with everyone...there is no "way" truly wealthy people think. Some people who have money just think they are kings of the world and know how to do everything and that their thinking is the way. I have my own "way" of thinking and it suits me just fine, and it is nowhere near Gekkos, who himself thinks any young person with a nice car is a wannabe, he has posted this in other forums. Dont feed the Lexus troll RU MATRX. I guess since he thinks Lexus is the best car out there, which is why he trolls, and he supposedly thinks like a wealthy person, that we better all go sell our MB for a Lexus. Get over it..

RU_MATRX

I support the fundamental truths expressed by Gekko though mjr24 I do believe in enjoying money while young as well and not hoarding it in "a game of life" where the one that dies with the most money wins. There is a balance in life unique to every person's priorities with life, family and finances. Prosperity and wealth for a family's legacy follows very closely to Gekkos list, ironically, and that's why those families retain their wealth for generations to come and don't lose it frivolously in the 2nd/3rd generation that was spoonfed. Each generation upholds that life's gameplan for their progeny's future although that doesn't mean that they don't enjoy that money as well. This is my point. The big picture was presented and there is a common theme with those that are wealthy and the way they think. Yes, the details are different though the high level insights are the same.

As the same friend of mine put it (w.r.t. enjoying sportscars), would you rather own and experience a Lamborghini at age 30 or sit around waiting to own one at 60 when the figurative planets of your life are aligned? It does take "*****" to actually buy a new one, drive it daily even to the local Home Depot, and put in 11K in the first year just for the hell of it.

W210

This thread is getting tired, let's get back to car discussion or personal attacks!

Nickerz

HA! That's what I'm talking about! Wher's our good ole pal 1SICKLEX!? I miss his asinine comments!

RU_MATRX

I just wanted this thread to hit Page 26.

W210

He's probably too busy having council meetings with his buddies at Club Lexus debating whom to kick out.

The not flaunting your money discussion is too warm and fuzzy for my taste. Who cares!

What kind of car do you drive Nickerz? Not a Lexus I hope.

oggle

What did I miss?

Gekko

STEPS TO BUILDING WEALTH

1. Liquidate all bad debt and become debt-free. Start paying off all loans and credit card debts now. If you're in a hole, stop digging.
2. Keep your monthly overhead expenses low. Do you really need ten premium cable channels and six telephone calling features? Eliminate them now and apply the saved monthly payment to either your debt reduction or savings.
3. Pay cash for everything and get out/stay out of debt. If you can't pay cash for something, you can't afford it. A house and an education are the obvious exceptions. But - be conservative with your mortgage commitment (Put a minimum of 20% down and don't exceed a mortgage of 2x your annual salary). Make extra payments on your mortgage towards principal every month. When your mortgage is paid off you have peace of mind and can sleep good at night. Pick a college with reasonable tuition costs. The name of the college isn't as important as what you do while you're there and what you do when you get out. Buy (Don't Lease) your car new or slightly used and keep it for a long time (10+ Years). Once you have your house and cars paid for you can save obscene amounts of money. Don't get caught up in revolving debt or monthly payments. Consumer debt is not good. Remember that you never make money by paying interest. Don't spend more than you make. Live within your means.
4. Systematically and automatically invest a fixed, large percentage (minimum 10%) of your gross income every month into a low cost (no load, low expense ratio), diversified, large cap, tax efficient, U.S. stock index mutual fund (Vanguard Index 500 Fund) and don't touch it for at least 10 years. Dollar Cost Average and Pay Yourself First. Increase the amount invested at least annually. Automatically reinvest all dividends and capital gains. Don't dump a big chunk of money into the market all at one time - gradually average it in over a long period on a monthly basis in order to hedge against a sudden market downturn.
5. Keep some cash equal to at least 1 year's gross salary in a low cost liquid checkwriting money market fund (Vanguard Prime Money Market Fund). Systematically and automatically add to it every month and never touch it. Automatically reinvest all interest/dividends. Increase the amount invested at least annually. This cash is for emergencies only or to use to buy long-term assets (house). Prepare for the inevitable "rainy day".
6. Max out your retirement plan (401K and/or IRA) contributions and direct them to a low cost index mutual fund. Never touch it until retirement.
7. Stay the course. Stick to your strategy and follow your plan. Ignore the so-called "experts" and tune out all of the outside noise. Realize that most analysts, brokers, advisors, and other "stockpickers" are usually wrong, biased, self-interested, and self-serving. Remember that no one has a crystal ball and no one knows for sure where the market or any particular stock is going in the short-term. Ignore the short-term movements of the market and think long-term. Stay diversified and don't chase "hot" momentum sectors or stocks. Follow your plan and not the herd. Don't try to time or beat the market. Buy and Hold. Increase your monthly investment amounts during market downturns.
8. Set realistic net worth goals and track your progress at least quarterly. Take pride and satisfaction in your financial accomplishment as you see your net worth statement grow.
9. Don't price your lifestyle for perfection. Establish a lifestyle based upon that which you can control....just because you made $100K, $250K, or even $500K last year, don't count on it occurring again, instead figure on what you can pretty much guarantee...that should be the lifestyle gauge. You have to plan for things to happen in your future that may not be ideal. You can't price perfection into any part of your future. Pricing perfection into your future can be extremely dangerous. Don't assume that everything will always go like it had always gone. Anytime you price perfection into your future, it generally ends up being a mistake. There is almost always going to be some sort of setback. Expect it, but plan for it and be versatile enough that you are able to make adjustments. If you don't have a contingency plan, then any setback will catch you unaware and unprepared. This is where you can learn from the past but not dwell on it. It is inevitable that at some point things will happen to you again that you don't expect. You should prepare for those things now. Don't be paranoid, just prepared. Preparation means you don't lose sleep over the future. Being paranoid means you lose sleep because of the future. Having your finances in order allows you to weather the storm when bad things happen to you. Set yourself up so that you can "hunker down" for a while if you have to.
10. Think long and hard about your purchases - especially the big ones. Ask yourself - Is this really a need or is it just a want? Why am I really buying this? How will this affect my financial future? Don't chase status symbols. Ignore the impulse to constantly upgrade and rush out to buy the newest, "latest and greatest" model. Ignore the need for Immediate Gratification. Repair before you replace. Financial success demands some sacrifice. Find a balance. Absurd, conspicuous consumption is a sucker's game. Trying to "Keep up with The Joneses" and be the "Big Shot" is a sucker's game. The "Big Shot Complex" will kill you. Realize that the debt-ridden, over-leveraged, wanton spender "wannabes" around you are financially self-destructing themselves. Realize that financial independence is much more important than displaying high social status. Plan, save, and pay cash for your big purchases rather than running out and immediately buying them. Choose your luxuries wisely and sparingly. Don't buy things you don't need. Celebrate saving! Life is about experiences, not about material possessions. What's really important is not how much you make, but how much you keep. Understand that real wealth equals freedom, security, and power. Being a Millionaire is a lot better than just trying to look like one. Being stuck on the treadmill in the rat race, living paycheck to paycheck isn't intelligent. Don't make yourself a slave trapped to your job/debt/expenses and at their mercy. Strive to be Bulletproof and Liquid. You might want to/have to peel back from work someday! It's nice to have the option. No, you "can't take it with you", but being old and poor is no fun. Life on the Bread Line is no fun. You could die tomorrow but you could also live to 100. Don't underestimate your life expectancy. Your degree of wealth will directly affect your future quality of life. Social Security may not be around to help you. Money is power, and when you can pay cash all kinds of doors open. Save and invest or else you will be forever poor.
11. Save every opportunity you can get. If you come into a big "windfall" or "found money" save most if not all of it. Dump a big chunk of it into the money market fund and then go treat yourself by spending a small piece (1-5%) of the sum on something you really want.
12. Work to maximize your income. First, get yourself in a position to be successful. Then, work at being a success. Push to increase your income! Pick an occupation or business that you enjoy but that pays well and is in demand. Watch out for the opportunity costs of not working for even short periods of time. Stay employed at all costs!
13. Protect your assets and income. You only need to get rich once. Run away from "get rich quick schemes" or risky new business ventures as fast as you can no matter how good you think they sound. Don't "play" the market with stocks tips, "inside information", or go on margin. Invest with good mutual funds for the long-term. If you absolutely must speculate, do it only with money that you can afford and are prepared to lose. Buy a $1M+ Umbrella liability insurance policy in case somebody tries to sue you. Get married only once - Divorces are very expensive - even without a prenuptial agreement. You can't avoid risk, but you can minimize it and protect yourself against it.
14. Enjoy life, live well, stay healthy, reward and treat yourself, treat others, be generous, help others, appreciate life, have no regrets, eat well, dress well, vacation well, do what truly makes you happy, but realize that happiness is only a state of mind. If your financial house is in order, it is much easier for you to keep your personal life and well-being in order. This includes your family, friends, and your own physical and mental health. You need to be sure to live within your means and save for your future. It's always fun to blow money. But, you need to find a medium where you are enjoying life and also preparing for a future at the same time. That doesn't mean you have to make yourself miserable now because you are planning for your retirement. You have to enjoy life now; there is no guarantee you will be on this earth until retirement. Life is about living, not just existing. However, money and opportunities are too hard to come by to just waste them foolishly. Find the balance.
15. Start Now!

1SICKLEX

I disagree, I have given Benz their due in this very thread as it is a superior brand, overall, to Lexus at this point. We had a AMG thread a lil while ago and we loved the cars.
http://www.clublexus.com/forums/show...&highlight=amg

It is the general ignorance of some here to just dismiss the brand. WHich is what BMW and Benz did in the early 90s and they got caught with their pants down.

Gekko has some solid point here from some solid books but as stated, we can't take $$$$$ with us. Many people with what people consider wealthy are depressed or have not found the happiness they seek. Though problems with money seem a little better without. Take health, no amount of money can make u smile like being healty. But I digress. Clearly, we spend ours ($$$$) at least on some fabulous cars.

Okay, back to your regular scheduled programming.

Guest0001

Man all you guys are funny

gekko thinks he is posting an end al be all way to get rich. Sorry buddy I read those books awhile back. You are going to have to read ALOT More books and do alot more **** in the real world if you ever want to get somewhere. Judging from your immature actions online, you cant be too old. Why dont you make an example and sell your car for a an old 1990 volvo. This is exactly what my uncles friend drives, and he is a multimillionaire. dont think you know all the secrets there dude.

There are people on thise board that will make more money then you ever will and they didnt do it buy a picking up a few books. Dont start here trying to preach to us your little facts.

Guest0001

Anways so back to car chatting.

I love the new CLS. IT will be here fall 2004. Cant wait to see it at the dealer

Just Beautiful

RU_MATRX

Caveat to everthing I've stated.

One doesn't have to sacrifice life and enjoyment of daily activity just for the sake of acquiring as much wealth as you can for bragging rights. Kinda like a preacher that preaches a holier than thou attitude and lives life strictly with a halo above his/her head. Boring and unrealistic. If everyone did everything by the text, YES we'd all be financially "richer" though not "richer" in life's experiences! Take care all................

Nickerz

Hey W210,

I drive a 2000 Acura TL. I was SUPPOSE to hear back from Laguna Nigel about a C32 they said they might be able to get me this weekend BUT the other dealer who has it, has someone else interested in it. Otherwise Laguna has 4 C32's on their lot right now but they're all black/black (two 2003 and two 2004) and I'm looking for the popular silver/black w/Command. I still have until Sunday (02/22) to know for sure if this deal w/Laguna goes through.

If I can't get the C32, I am going to wait for the C55, not such a bad deal but I didn't want to wait. However, I'm saving for the E55 so the choices are:
1.) Wait for the C55, lease it for 3 years and then get a E55
2.) Wait about the same time, save a little more, jump right into an E55 and bypass the C altogether.

The reason I'm still favoring option #1 is b/c I'll get a feel of MB, which I love so far, just never owned one. Then after my lease, I really want to buy the E55 not lease it.

About Lexus...

I have to admit...I am planning on buying my girlfriend the RX330 within the year, as I really do not care for MB's SUV. I also like Acura's MDX (and it's faster than the RX330 and BMW's X5 (3.0) but my girlfriend loves the RX330. We test drove it a couple months back and I really like it too. But it's C55 or E55 for me...all the way!

W210

I see... Another AMG fan! If you're keeping the car for a while and you do appreciate navigation, then definitely the C55 or E55 (both with DVD COMAND), unless you get killer deals for the C32s. I wonder if the 2004 C32 would have the new 'scratch proof' nano paint?

I haven't driven the latest MDX or RX330, both should be pretty nice for what you pay for! As for my wife, she's too picky and insists on more road feel so she picked an Audi.

Gekko

"There are none so deaf as those that will not hear."

Nickerz

You're right!

That's one thing I took notice of right away, the DVD based Command for the C55! The looks of the C55's Navi is sharper than the C32's layout too.

As far as the nano paint, I've read that nano wasn't put on any models built prior to Jan. '04 and that it's main purpose is to reduce swirl marks and scratches (infamous with black exterior) but that chips are still an issue.

mjr24

Gekko, whats your point? You basically come on the board as a Lexus owner, and plagarize from money books about how to get rich. Congrats, do you actually have any ideas of your own or are they all derived from a "get rich quick" book (again, because someone rich has written a book, what they say about getting rich is gospel, wrong). You come on here and talk about how we are all wannabes and poor, and how you are supposedly wealthy.
OK fine...but dont come on here talking that when all you have to show for your supposed financial wisdom is an ES330 and some stolen quotes from books, or actually from online, as I hope you dont sit and type these long posts out from your books as no one cares.

Nickerz

I want to know how the hell that Geeko got away with writing a damn novel on this thread?

Geeko reminds me of that pompous *** in "Good Will Hunting" where Matt Damon's character (Will) puts that jerk in his place for plagiarizing and coming off like they were his ideas to begin with.

Hey Geeko...HOW DA YA LIKE DEM APPLES? ARRRRR! HOW DA YA LIKE DEM APPLES!

LOL! This thread has jumped to so many topics I love it! It's alive! Alive I tell ya and it's never gonna die! 28 threads...keep it going!

1SICKLEX

I also think it is beautiful inside and out.

Guest0001

We finally agree on something!

RU_MATRX

Gekko your first list showed some sincerity and insight as it was brief and to the point. Now, it is just plain out stealing generic text from those get "rich quick books." Anyways, time to stop before you lose more credibility.

Nothing wrong with an ES330 for entry level luxury though with it's lowest output of any Lexus made @ 210HP? I don't think you could find a more boring (slug-like performance and handling), literally heart-wrenching vehicle (detached styling) to drive out of the many Lexus products available. Not to mention, it's a mirror image of the grotesque Camry redesign. Not to bash, but these are my honest opinions, I've driven it when it first came out, and although I like Lexus products this car needs to go back to R&D. Love the luxury interior though for a conservative 4-door sedan at this price point.