September 21, 2012
What You Should Save By 35, 45, and 55 To Be On Target
I refer you to the comment of visaguy63 on August 15, 2014. Please consider taking a deep breath if you intend to read the following aloud.
I will be turning 35 in a few months and the only reason I have over 100k in my bank is because I totaled my 97 Ferrari F 355 spider and I was using that car as a backup plan in case I ever needed the money I would sell it but I got cash out earlier this year, on the flip side I am in the merchant service business which is a multi billion dollar industry and I make a healthy six figure a year income and the only debt that I have is my house so I save about 80% every month if I don't spend recklessly however Lamborghini Murcielago has been on my mind for awhile now.
I can't speak for you of course, but I was roughly one hundred words in before realizing that a period would be really nice soon. It might have something to do with the word "I" being used 12 times in just one sentence. Just a theory!
One can only wonder how visaguy63 can make that kind of money. If only his name would offer some kind of hint. Ah, yes. Our world revolves around VISA and its guys. That's probably why they call it revolving debt.
As a side note, we should all be thankful that a 97 Ferrari F 355 spider makes an excellent backup plan for those needing cash. Why haven't more people considered this? Abolish the food stamp program I say! Let them drive Ferraris! And if that plan doesn't work, I hear that a Lamborghini Murcielago might work even better. Horse power to the people! Let's keep this economy stabled and saddled with debt!
The politicians' car of choice for metaphors in Britain is Lamborghini. How have they attained this status?
ReplyDeleteMark,
ReplyDeleteInterest rates will be rising and banks are going to start paying higher rates on deposits any moment now.
Except, first they are going to be *charging* on deposits.
http://pragcap.com/banks-are-passing-on-negative-interest-costs-to-consumers
Negative interest rates are just an obvious step on the way to raising interest rates.
CP
If by "period" you mean bleeding profusely and whining incessantly...
ReplyDeletedearieme,
ReplyDeleteHorsepower corrupts. Absolute horsepower corrupts absolutely.
CP,
ReplyDeleteNegative interest rates are just an obvious step on the way to raising interest rates.
A glut of cash is an obvious step on the way to rising interest rates and hyperinflation too, except when looking at anemic wage growth, oil's fall, and studying Japan of course.
Obviously.
Rob Dawg,
ReplyDeleteIn the red prosperity, baby. That's what I'm talking about.
I am increasingly amazed at how quickly we (collectively) have forgotten the difference between assets and liquid and/or fungible assets. I've seen three separate one half to one million dollar swings in the liquidation value of one single asset I control.
ReplyDeleteRob Dawg,
ReplyDeleteI am amazed that it would seemingly require an infinite number of parabolic trend failures to deter investors from "sure thing" investments.
Don't forget, debt that can be rolled over is really an asset.
ReplyDeleteAnonymous,
ReplyDeleteIndeed.
Accidents happen though. Sometimes there's no way to see them coming.
Rollover accidents are directly related to a vehicle's stability in turns.
Who needs stability? ;)