motor

f1dreamr575 · 09-20-2005, 05:34 PM

I'm 18 right now, about to go to college at UF for mechanical engineering probably and i've been wondering if i'm doing to the right thing to make lots of money. I want to be able to have enough money to have a ferraris or porsches when i'm older. What kind of jobs to these people have that run in gumballs and are young and have $300k cars. I wanna be close to $500k by the time i'm in my 40's but am I going in the right path? Should I major in something different? I'm doing karting next summer but the chances of going to F1, cart, or even touring car racing is probably slim to none and if I go through life longing for cars like this and never having one will truly be a waste.

komotar · 09-20-2005, 05:41 PM

OMG, what kind of questions.

If I would start answering and explaining, it would take me all night, but I have to get up early and go to work...

And for racing and goingo to F1.....dude, all the serious drivers, or almost all, started racing before they were 10.

Si I guess I'll just hand this matter to RC or someone, who will deal with this in three or four short sentences, maybe even less.

Good night

09-20-2005, 05:58 PM

42

twboy1999 · 09-20-2005, 06:11 PM

just do what u love and do it well, ad u will make big money

think big, make big
think small, make small

RC45 · 09-20-2005, 06:14 PM

What Dani said.

You either steal it, inherit it or find yourself "in the right place at the right time".

The last one is a variation of "work like fucking hell as a business owner" - or make some amazingly fortunate stock purchases - etc etc.

Oh - or already be good enough to be drafted as a pro-athlete.

sameerrao · 09-20-2005, 06:17 PM

Or goad RC to use his riches to buy an Italian supercar and beg for a ride. That's what I would do

No.1 · 09-20-2005, 06:20 PM

Sorry, but this is a fucking stupid question :roll:

You say you are 18, but are asking questions i would expect from a 7 year old

A $500k salary isn't a job you can train for. You don't get a degree in "CEO of Company X" - you do management courses, after obtaining a degree (in anything!!!), then gain knowledge, experience and wisdom over time, and prove yourself, to get promotions, pay rises and the like.... it's not an exact science.

An A-Z of making your first million hasn't been published yet, to my knowledge. And, those who say i want to earn a million before i am 25, rarely do so.

But, well, they do say you have to speculate to accumulate, so speculate all you like, but don't waste your life chasing such fickle things as cars and material goods

Oh - and good luck!!! 0X

dangerously_cool · 09-20-2005, 06:54 PM

Hey good luck in your ME major, I'm doing it as well at UCI. I'm trying to double or switch to Econ, so we have a similar courseload, let me know how you like it.

ARMAN · 09-20-2005, 07:10 PM

Find a spot in the market and deliver what is needed in a great volume. I am still looking for that spot

Btw imo it is possible to make big bucks till you are 30, you just have to move youre butt very fast and you can do it

Everything is possible.

09-20-2005, 07:25 PM

Originally Posted by dani_d_mas

^^^

42 is the answer to everything dude!!

dingo · 09-20-2005, 07:30 PM

invest in the stockmarket, its doing great things for me (you can't lose at the moment on the ASX).

Failing that - buy a lotto ticket.

ZfrkS62 · 09-20-2005, 08:44 PM

Originally Posted by AL123

42

i think you're right AL!! He has found the Ultimate Question

graywolf624 · 09-20-2005, 09:15 PM

The last one is a variation of "work like fucking hell as a business owner" - or make some amazingly fortunate stock purchases - etc etc.

Actually there is a surefire way and there are books about it. The issue is, its not fun to do it.

The ways:
1) as mentioned above take boat load risks on stock market
2) be a professional athlete/born into money/ steal
3) Run your own business and be one of the lucky few.
4) The sure fire way, put all money you make into investment(dont spend it) Make major sacrifices that the average person wouldnt make(the path Im taking somewhat but not quite that strictly). This means live like you did in college for as long as possible.. Work your ass off and anything you make goes into investments(rental properties, stocks, bonds). Move around jobs alot for the first couple years and push your education alot. It won't get you the 500000 a year job which frankly is a pipe dream. But doing general math a 70-80 grand a year job (not an entry level salary but Id assume averaged over 15 years for an engineer) over 15 years with good investments ... The problem of course is, while I think someday I will be a millionare, Im not going to hold that strictly to my schedule. I want to retire the equivelent of a millionare and live off a fixed income asset like a hotel. The engineering job will do just fine if your willing to make the sacrifices (and the best choice is always what you enjoy).. The way into the executive positions is to be born into it, or establish contacts over your lifetime(read not going to happen before your 40s).
Good luck. Unfortunately higher risks equal higher reward in 1,3.. 2 you can't change. And 4 is serious deprivation. The price you pay.

antonioledesma · 09-20-2005, 09:20 PM

omg...

why not ask for the fountain of eternal youth? the pot full of gold at the end of the rainbow?

it's something very difficult to answer. I think only one or two persons here "know" how to do it.
I could say it like this: study very very very hard, work much harder, save the pennies from your allowance, try to see different business. Some will work, others won't.
don't waste your money in karting, save it, buy some stocks,
be a loan-shark,
sell used-cars,
sell one of your kidneys,
go every week (or twice a week) to the sperm bank AND the blood bank,
be a pimp and manage 2 or 3 prostitutes,
don't go out with chicks, they'll make you waste your money and you won't have energy to laid them,
work for a coyote in the USA-Mexico border (you could get 1000usd per wetback),
work for halliburton,
sue halliburton for a job accident (throw yourself out from your boss' window),
cut and loose an arm while working with milling machines, presses, etc,
work 20 hours a day.
.... and be sure to inherit some money without debts... and then MAYBe you could buy a BMW

styla21 · 09-20-2005, 09:48 PM

I never realised the pessimistic streak that some of you let fly around here occasionally!
This guy just asked for some simple opinions on a better track to take in life, than the one he's contemplating.. I respect that.
F1 racer - if anyone suggests to you to find the best paying 'JOB', know that my opinion is the exact opposite.
In my experience, all of the wealthy people i know have a stack of assets - whether it be stock, bonds, property, a business asset, etc.
The suggestion of saving enough personally will take you forever to do this however.
I would suggest using the concept of leverage - put a network together of people / institutions that DO have the money to use right now.
There are stacks of options to use as afformentioned - but note that the hard work that it will take to do this is the research component.
Most importantly, do what you're doing right now and network yourself with the crowd you wish to be a part of.. Join a business club, call those friend-of-a-friend people who have made it, and humbly ask if you can take them to lunch to learn a little. "Birds of a feather flock together". And also remember if you can help enough people get what they want, you'll get what you want - Zig Ziglar. It's so true. :fadein: