By the time I read through, it was too late for me to give anything.

 

Yeah, but do you remember back when we were 25?

That was back when I used to realize every couple of years what an idiot I was a couple of years ago....

Remember?

 

Who can remember that far back.

 

HAHAHAHAHAHAHA!

I was thinking exactly that even as I was posting! Good Job in getting the punchline.

There are just a couple of things that I remember from way back then...and that's one of them....

We all have to mature - hopefully we all do.....

 

Just to make this clear you want to sell your cars, because other people are envious? It comes with the territory, if you can afford it, what is the problem? You need to get a new hobby, maybe de-sensitizing yourself, if you are really maturing you should understand that if your friends and family are not jealousy, then there isn't a problem.

 

seattlecarfreak,

As long as I can drive a car, I will never have less than 2 cars. If you go down to 1 you will feel better for a month or 2, then you will start craving them again.

 

Seattlecarfreak,

I am not particularly directing this post at you, but I have some advice that might help you or others reading this thread. It sounds to me like you need to do some reevaluating of your life in general. If you are worried about what other people think of you, or how you are treated, perhaps it is time to find a new environment and/or new friends. Note that when I say find new friends, I'm not referring to other young rich people such as yourself. This could break you. Worst yet, you start associating yourself with people who think or want to be wealthy. Money, or no money, it would be best to start finding some real genuine friends who do not judge and are positive about life and don't revolve their life around their cars, homes, vacations, or bank accounts. If you are caught up in the city life or in the "rat race" maybe it's time to take a vacation or relocate to the mountains or a place where time moves much slower. Volunteer at a shelter and see how the world really lives. Persue new goals that aren't financially related. Perhaps seek friends in a club or hobby that you like, maybe even church if religion is or was in your life at some point in time.

It sounds to me like the fun and enjoyment you are getting out of your stable isn't quite justifying their cost. You are 25, and regardless of the amount of money you have, perhaps it is time that you rethink your financial situation. Death could be a long time away, make sure you have a financial plan to match your projected lifestyle and expenses. People that are truly financially sound or have emmense wealth will never blink at the cost of tax or maintenence that is associated with their assets or expenses. You have quite a bit of money caught up in your cars that I can guarantee isn't making you any money. That 100,000+ that you have caught up each of your cars is a lot of money that could be making you money in the stocks, bonds, index/mutual funds, real estate, hell even a ING savings account could be making you 4.5% on your money. Be content. Be content that you can drive a awesome machine and be smart with your money so that later on down the road you can reward yourself with a fleet of anything you've dreamt of. This also gives you something to shoot for, and goals, something perhaps you don't have now. Perhaps your having everything has dulled your senses to the satisfaction that comes with being able to afford nice things. Personally, I'd rather own a nice few year old mercedes(what pain) and know that in 20 years time I'll be able to reward myself with any car, any number, any year that I want.

For me, my strategy has been fairly simple. I don't act different to be different, but...unless you get lucky or have special talents, it takes a little different strategy than others to get into a league of wealth all of your own. This is going outside the realm of this thread but bare with me. My strategy is:

99%(?) of the world is not wealthy, and many of that percentage middle class or poor. So I don't follow the crowd.

My peers spend most if not all or more of their paycheck. I spend less than 15% of it.
My peers don't know the benefits of a 401(k). I put in 15% of my pay.
My peers went out and bought a house right after college/landing a job. I went out and bought a 4 unit building...lived in one, and rented out the other 3. (I live for free and then some).
My peers hire an accountant. I went to the library and taught myself how to do things myself.
My peers go out on Friday and Saturday night. I might go out once in a while, but typically either stay home or have just a drink or two (spending money at bars will kill you)
My peers gamble some of their paycheck. I never gamble. (fun to watch or play for fun though).
My peers have sex with multiple women. I am content on just one and am content on not worrying about disease.
My peers went out and bought or leased a new 330i with their first paycheck. I bought a used low mileage mercedes (Cars are definitely a huge weakness for me!)
My peers' hobbies are drinking and watching sports. I identify, do research, and write publications on ants (myrmecology).

I am content and humble and this is what makes me appreciate the things I do have.

I think you get the picture. I'm not trying to be "better than thou art" but I will be able to afford anything I want down the road, and it's not because I own my own company, or am a professional athlete, or come from a wealthy family.

When I finally do acheive my financial goals, I'll be damned if I'm gonna be worried about what others think. While they are still out on the gambling boat trying to hit that 1 in 50,000,000 chance of striking it rich, I'll maybe go to Europe for a long weekend or to an Island with my wife and kids (maybe just my wife for the island ). I wish the best to everyone, but when they are just now able to afford that corvette at retirement, I might have difficulties deciding which color I want on my new Bentley.

I sound a bit greedy in the last few paragraphs, so I will visit something else to which I find very important. Give. Give money away and set yourself free from it's burden. Derive happiness by giving to those less fortunate. I personally donate some money to a local charity that helps abused children and will often times stop by and the smiles and opportunity that is given to these children (some come from abuse (sexually, emotionally, physically)that most adults wouldn't survive through) is worth more than any car. Like it has been said, remember what life really is about and don't focus too much thought or attention on things. You will be severely disappointed if you focus your work and life on affording things. One thing I've found in my short life on Earth, is that 9/10 times when I can finally afford something, it just really isn't that cool anymore so I save my money and move on. Of course, I'll probably make an exception for that CL55 here in a few years. Good luck!

This is just one man's opinion. Be content with everything except improving yourself as a human being.

edit: I am 25 also.

 

Great wisdom from one so young.

Although I don't agree 100% with your advice (I don't know for sure, but I don't think SCF has to worry about finances in the future. Why would he keep saving extraordinary ammounts of money for a financial future that is already made so that he can get his car's when he retires or is older only to kick himself in the behind later telling himself "I wish I had done this when I was 25"); overall, I think it is magnificent.

Time can buy money, but money cannot buy time.

Giving and being nice/nicer to people does truly make me feel like a better person, and it's something that doesn't take much effort and doesn't cost much/any money. The price to reward is enormous, and I don't mean monitary/tangible reward.

Hopefully, your words can help people of all ages improve the quality/goodness of their lives.

Thank you for taking the time to share this wisdom with us.

 

If someone cannot be nice or share the same mutual respect I display toward them, I'll walk away from even the most potentially profitable situations; no matter what I could possibly stand to gain from it...

 

Thank you for the kind words Chris. A lot of that advice wasn't necessarily aimed at him, and I feel that I was mainly trying to say that some people that have a lot of money manage it poorly or live above their means and find themselves many years down the road having to cut back considerably or are even broke or have to go back to work. I was just trying to help him or others make this mistake.

Cheers.

 

No matter how smart you are, if you have "serious" money a professional investment money manager is a must.

 

Absolutely (that .5-2% is money well spent)... and for those who find a need to post about how well off they are I'd add that money talks, but wealth whispers.

~ Ian

 

I hope you didn't think I was talking about myself. Me, I have no money, just look at the car I drive.

I was just giving general advice.
.

 

Absolutely not! Just like me, I heard that stuff from a friend of a friend.

~ Ian