LOL, we were all over that. Maybe it’s a date screening criteria, you tell the date it’s a $100k car and if they go for it, you know you’re pretty much golden the rest of the night. “These pants? They cost like $20k. They’re made of endangered animals. I invented Apple.”
Black Swan Wrote: ------------------------------------------------------- > When you said 100k car, did you mean rupees? Ha, yeah, he bought an Audi A5000 for 100k rupees. Thing is mint… There aren’t chicks on this board Arby, no need to front.
lol im in australia. and our dollar is stronger than the us now. audi a5 cost me 100k. cars in the us must be a lot cheaper. an audi a4 would be about 45-60k.
Fair enough arb, do you guys have heavy taxes on autos over there? A Danish analyst at a conference was telling me they have 150% tax on autos in Denmark.
Black Swan Wrote: ------------------------------------------------------- > Just to highlight the data from the performance > tables: > > Skidpad: > Z06, 1.03 > Porsche GT2, 0.98 > GTR, 0.96 > Viper ACR, 1.08 > > Braking (70-0, ft): > Z06, 159 > Porsche GT2, 155 > GTR, 155 > Viper ACR, 149 > > And predictably, the viper took first in > acceleration tests with 11.8 second quarter and > 3.4 second 0-60 I bet the viper has some wide tires . . .
arbitageur Wrote: ------------------------------------------------------- > lol im in australia. and our dollar is stronger > than the us now. > audi a5 cost me 100k. cars in the us must be a lot > cheaper. > an audi a4 would be about 45-60k. cheaper cars are cheaper - you’re totally right dude
arbitageur Wrote: ------------------------------------------------------- > lol im in australia. and our dollar is stronger > than the us now. > audi a5 cost me 100k. cars in the us must be a lot > cheaper. > an audi a4 would be about 45-60k. cheaper cars are cheaper - you’re totally right dude
I think I remember reading 13 inch rear tires on the viper
100k rupees will get you jack all when it comes to 4 wheelers.
Back to the lecture at hand… I don’t think you can ever save too much. You may be leaning too heavy on tax-deferred retirement accounts, although as noted the Roth gives you some flexibility there relative to a standard IRA. I will note that if you want to build significant net worth (multiple millions) the contribution limits on tax deferred accounts will limit their overall usefulness, but that’s no reason not to put money into them now. It simply depends on your goals and aspirations for the money, and what kind of lifestyle you want to lead. Don’t let the idiots give you any cr@p about saving and living at home. It’s not for me, but bully for you.
I can’t believe no one has asked this yet… AndyPettitteIsGreat - how did you convert a BO gig into a FO one? That, to me, is more impressive than your savings!!
Yeah living at home sucked for me. I did it for longer than you and it certainly tried my patience. I moved out when I was 25 but I was moving into my own condo. I never would have been able to buy a home at 25 on my BO-level salary if it weren’t for living with the parents. Just keep saving up and I would buy a place soon since most real estate has gone to $hit.
Why would you want to invest in real estate if you were able to grow your portfolio well in the stock market (apparently)? You’re young and apparently have some kind of investing skill, so stay liquid and work your butt off at work. Keep saving (or not) and grow what you already have. I did pretty much the same thing you did, except I started in the front office and was able to live in family property for free that no one else was using for a few years (all the benefits of “living at home” with none of the drawbacks). I saved every penny (except a trip to China & Hong Kong) and have accrued a pretty significant net worth for someone my age. I can’t imagine why I would want to dump any of it into real esate when I could pay rent and keep growing the value of my portfolio much more rapidly (talk is cheap but I have so far and I’m confident about continuing it). I did decide I was going to save less though going forward – life is short, might as well enjoy myself if I’m going to work this hard all the time. Anyway, my point is, real estate is for chumps. Buying a $100K depreciating asset (which is really a liability) in your early 20s is also for chumps.
bromion Wrote: ------------------------------------------------------- > Why would you want to invest in real estate if you > were able to grow your portfolio well in the stock > market (apparently)? You’re young and apparently > have some kind of investing skill, so stay liquid > and work your butt off at work. Keep saving (or > not) and grow what you already have. > > I did pretty much the same thing you did, except I > started in the front office and was able to live > in family property for free that no one else was > using for a few years (all the benefits of “living > at home” with none of the drawbacks). I saved > every penny (except a trip to China & Hong Kong) > and have accrued a pretty significant net worth > for someone my age. I can’t imagine why I would > want to dump any of it into real esate when I > could pay rent and keep growing the value of my > portfolio much more rapidly (talk is cheap but I > have so far and I’m confident about continuing > it). I did decide I was going to save less though > going forward – life is short, might as well > enjoy myself if I’m going to work this hard all > the time. > > Anyway, my point is, real estate is for chumps. > Buying a $100K depreciating asset (which is really > a liability) in your early 20s is also for chumps. Did you buy Anthony yet bro?
Bromion, How can u be confident about ur investment performance going forward? Many respected investors eg. Seth klarman, predict a decade of little growth in equities. That is my main concern with stocks. With US real estate, theyve become so cheap, especially with the aud higher than the usd, that im considering investing over there. I mean your’re definitely getting some value if u pick the right property. Or perhaps european stocks? And yes australia does have a tax on the purchase of cars
And yes im a chump. But this is the year for change. Lol
Seems a bit unpractical to buy real estate in another country, unless you have someone there that can take care of it. If you think US real estate is cheap, why not buy REITs or some fund like IYR?
arbitageur Wrote: ------------------------------------------------------- > Bromion, How can u be confident about ur > investment performance going forward? Many > respected investors eg. Seth klarman, predict a > decade of little growth in equities. That is my > main concern with stocks. With US real estate, > theyve become so cheap, especially with the aud > higher than the usd, that im considering investing > over there. I mean your’re definitely getting some > value if u pick the right property. Or perhaps > european stocks? > > And yes australia does have a tax on the purchase > of cars An effective long / short strategy can make money in up, down or flat markets in excess of anything you would be able to get in real estate, short of maybe a red hot market with uber leverage. That’s obviously not going to happen again any time soon. I am confident because I work for a fund that has a long-term track record making such returns, which affords me access to good stock ideas (both through my own research using the funds style and research platform, as well as ideas sourced by the PM that I am able to participate in). Obviously results will vary, though I am skeptical about real estate for you if you were truly able to build 200K in equity somehow in college (why not just do more of whatever you were doing?). Change is good, I respect that.
jcole21 Wrote: ------------------------------------------------------- > Did you buy Anthony yet bro? lol I don’t know what this is, but I assume you are referring to the sports car. The answer is no. I was going to buy this month depending on bonus and have done my research already. My year-end review was good, and my boss asked me if I would be willing to relocate to a different city for a good career opportunity, which I accepted. It’s a city where I won’t need a car, so I’m going to hold off on the car indefinitely. I test drove a Mustang and enjoyed it, but could not really see myself driving this car as I don’t really like the image of driving a Mustang. Good car though. I randomly had a chance to test drive a Lotus Evora over the holidays. That car is much higher-end than what I was looking for originally, but it was a cool car, although too impractical. It seemed like this car would bottom out on everything and it was a pain in the butt to get into the car because it is so low to the ground. I test drove a Porsche 911 Turbo and this would have been my choice (despite what I said before about not wanting to one up the boss by buying a nicer car – based on good year-end review, I doubt it matters). However, to get a used low miles 911 is like $80-90K from what I saw, which is more than I was hoping to spend, so I was going to wait and look for a better deal and/or find a way to (legally) write the purchase off through a side business I own (I’m not sure if that’s possible but I think it is). So no dice, but can’t really complain as living abroad will be cool.
bromion Wrote: ------------------------------------------------------- > jcole21 Wrote: > -------------------------------------------------- > ----- > > Did you buy Anthony yet bro? > > lol I don’t know what this is, but I assume you > are referring to the sports car. The answer is no. > I was going to buy this month depending on bonus > and have done my research already. My year-end > review was good, and my boss asked me if I would > be willing to relocate to a different city for a > good career opportunity, which I accepted. It’s a > city where I won’t need a car, so I’m going to > hold off on the car indefinitely. > > I test drove a Mustang and enjoyed it, but could > not really see myself driving this car as I don’t > really like the image of driving a Mustang. Good > car though. > > I randomly had a chance to test drive a Lotus > Evora over the holidays. That car is much > higher-end than what I was looking for originally, > but it was a cool car, although too impractical. > It seemed like this car would bottom out on > everything and it was a pain in the butt to get > into the car because it is so low to the ground. > > I test drove a Porsche 911 Turbo and this would > have been my choice (despite what I said before > about not wanting to one up the boss by buying a > nicer car – based on good year-end review, I > doubt it matters). However, to get a used low > miles 911 is like $80-90K from what I saw, which > is more than I was hoping to spend, so I was going > to wait and look for a better deal and/or find a > way to (legally) write the purchase off through a > side business I own (I’m not sure if that’s > possible but I think it is). > > So no dice, but can’t really complain as living > abroad will be cool. Ha- stupid iphone - yeah, meant a car (anything is what I meant to say). Good to hear you got a new/greater opportunity - hope it works out well for you.