couple weeks ago, my mom had a meeting with a financial adviser about what to do with all the money she had in her investments, since her latest investment option just expired. she wanted me to come along to help her understand what she doing. from this experience, basically i realized how different her frame of thinking an mine are.
she been keeping her money in investments with almost no risk at all, with lik 2-3% returns. she prolly been doing this for several years now, not sure how long, could be as long as 10+ years. so basically she been losing around 3% of all the money she had in investments each year, because of 4% inflation rates + ~1% taxes.
my investment train of thought, prolly coming from poker, was that these investments were kind of a waste of time. whats the point of keeping money in here? i guess her train of thought was, she been busting her ass all these years she rather just the keep most of the money she making than risking it at all. its obvious she doesnt have enough money for retirement, well maybe she does if she really limited her spendings, but that doesnt really matter since my two brothers and i will obviously take care of her when she gets older.
but all this really got me to think about how the hell am i gonna make money doing the 9-5 day in an day out only making around 60k a year!? once i get my first paycheck, see how much im pulling in after taxes, im gonna budget my funds more specifically. but what i was mostly lookin at were returns from compounded interests in passive investments. which were not as good as i hoped. i can only hope to make my first million lik 20 years down the line with most of my money thrown in the investments, assume a consistent 10% return.
Flawless reminded me of active investments with much higher returns. something i totally forgot about that i need to look into. there was so much to learn in the business world, im gonna definitely need to start studying that area. i got so much to do now that im working, making money, with bills to pay. one positive thing i can feel from working fulltime now is that im more active in everything i do, no longer jus sittin on my ass playing computer games.
ill post more on this after my first paycheck i guess...
Sunday, June 8, 2008
Im Window Shoppin'
yea so during the buying process of my car, i had several budgeting issues to consider.
i definitely needed a car to get to work. my options were to buy a cheap car around 5-10k and drive that around for the next ~4 years or so. then upgrade in the future when i got the funds. this will allow me to build up short term funds more quickly.
then i was thinking, maybe i should jus spend extra n get a nice car right now. i already been driving ~7 years in regular cars since high school. i also got a good enough job to pay for it. these nice cars are gonna run from 20-30k in price. gonna definitely hurt my savings/funds for the short term.
the other day i was at carmax, test driving a bunch of shit. volvo jettas, audi a4's, infinity g35's, acura TL's. i wanted to test drive benz's, lexus's and bmw's. but the day was already too long as it was. i already know people with A4's and G35's. didnt really wanna get one of those cuz of that. the jetta drove lik a peice of shit, so didnt really wanna get one of t hose either. from test drive experience, the audi and the acura were the best. i was thinking lexus and benz's i can get later when im older, prolly in retirement. bmw's are sick, shoulda hit those up. they were generally too expensive though.
but now to the main topic of interest. the acura test drive was fucking amazing. i never felt a car handle lik that before in my life. the engine was music to my ears and the car felt heavy as shit, felt lik a powerhouse! man after that test drive, i seriously understood why so many of my friends are car fanatics. and did i mention that car looks fucking sick! instantly fell in love with that car, i needed dat joint!
other shopping options included buying camry's. apparently, used camry's were only running for 16-18k, whereas new ones were lik 22-23k. since the demand for camry's are so damn high their resale value was only a couple thousand below new cars. so if we were to get a camry, was gonna jus get a new one. use 05 acura TL 's with lik 50k miles were lik around 25k. so buying a nice used car was almost as good as buying a new camry. my TL was 06' and only had 14k miles on it, going for 25k, a nice deal, since these were usually prices around 29k and its basically new.
so i decided to jus get the sick ass car paying extra short term. i figure im young an good for pimping now than later. we bought it in full so no interest as well. ill pay it off within 2 years, especially with all the funds im saving from living at home.
i definitely needed a car to get to work. my options were to buy a cheap car around 5-10k and drive that around for the next ~4 years or so. then upgrade in the future when i got the funds. this will allow me to build up short term funds more quickly.
then i was thinking, maybe i should jus spend extra n get a nice car right now. i already been driving ~7 years in regular cars since high school. i also got a good enough job to pay for it. these nice cars are gonna run from 20-30k in price. gonna definitely hurt my savings/funds for the short term.
the other day i was at carmax, test driving a bunch of shit. volvo jettas, audi a4's, infinity g35's, acura TL's. i wanted to test drive benz's, lexus's and bmw's. but the day was already too long as it was. i already know people with A4's and G35's. didnt really wanna get one of those cuz of that. the jetta drove lik a peice of shit, so didnt really wanna get one of t hose either. from test drive experience, the audi and the acura were the best. i was thinking lexus and benz's i can get later when im older, prolly in retirement. bmw's are sick, shoulda hit those up. they were generally too expensive though.
but now to the main topic of interest. the acura test drive was fucking amazing. i never felt a car handle lik that before in my life. the engine was music to my ears and the car felt heavy as shit, felt lik a powerhouse! man after that test drive, i seriously understood why so many of my friends are car fanatics. and did i mention that car looks fucking sick! instantly fell in love with that car, i needed dat joint!
other shopping options included buying camry's. apparently, used camry's were only running for 16-18k, whereas new ones were lik 22-23k. since the demand for camry's are so damn high their resale value was only a couple thousand below new cars. so if we were to get a camry, was gonna jus get a new one. use 05 acura TL 's with lik 50k miles were lik around 25k. so buying a nice used car was almost as good as buying a new camry. my TL was 06' and only had 14k miles on it, going for 25k, a nice deal, since these were usually prices around 29k and its basically new.
so i decided to jus get the sick ass car paying extra short term. i figure im young an good for pimping now than later. we bought it in full so no interest as well. ill pay it off within 2 years, especially with all the funds im saving from living at home.
Its Dat Joint!
o yea i cant beleive i forgot to post about my car!
i got it two fridays ago, may 29th i think. its a 2006 acura TL in grey. its siiiick boi!!!
it had 14.2k miles on it, and inside was generally clean. i need to get it really cleaned, vacuumed an toothbrushed inside an out at a car detailer. i heard its generally around 70-100$ for it and it also includes wax treatments. gotta look for one of those an hit it up. gotta keep my car hot you kno. i love driving my car around, i always look forward to the ride back home down 95 cruisin my car listening to fresh tunes.
i got pics of it but havent gotten around to puttin them on the comp yet, also i wanna get some night snaps, when the car is really pimpin! meanwhile here is an online snap of basically how the car looks.
i got it two fridays ago, may 29th i think. its a 2006 acura TL in grey. its siiiick boi!!!
it had 14.2k miles on it, and inside was generally clean. i need to get it really cleaned, vacuumed an toothbrushed inside an out at a car detailer. i heard its generally around 70-100$ for it and it also includes wax treatments. gotta look for one of those an hit it up. gotta keep my car hot you kno. i love driving my car around, i always look forward to the ride back home down 95 cruisin my car listening to fresh tunes.
i got pics of it but havent gotten around to puttin them on the comp yet, also i wanna get some night snaps, when the car is really pimpin! meanwhile here is an online snap of basically how the car looks.
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