To all the rich folk on SVTPeformance.com...

[Capt. Shockwave]

Sup gentleman,

I had a question to all the guys with alot of toys and alot of money on here.
What I want to know is, what was the biggest factor in getting the money you have today? Was it an excellent income, or excellent money management skills. I think Im probably going to hear its a lil of both....
But I have a pretty decent income right now $200+ a day (cash) from detailing autos. god has been blessing me and as long as I keep my nose clean, he will continue too. Basically what Im doing right now is only spending $$ on the necessities (gas, food, etx), and saving the rest. So far, so good........But Id like to know from the dudes that have MADE it, what are some good things to know about money management. Im only 20, so I think Im off to a good start, but I hope I can get some help from the pros
:thumbsup:
:thumbsup:
:thumbsup:

 

[sonicboom141]

well i can tell you my dad just worked his way up and saved from day 1 for me and money for my school, car or whatever has built up...basically free money for me.

He invests in a ton of stocks and sells and buys and has been making a lot of cash off that, also he buys lots and sells them for higher prices when houses are up around the lot it just gains in price...

just a little money making he has done if you were interested.

 

[Capt. Shockwave]

yea, my parents are in real estate and buy and sell homes, along with stocks as well. But I dont have near the $$$ to even put a down payment on a single home!

 

[roushraven]

The term "rich" is subjective and relative but I will offer you this bit of advice from my point of view as "comfortable."

When you are able to do so, invest in some real estate. I and several of my friends have made our money grow this way because the housing market "generally grows in most areas. Buy a starter home in a nice area, make some small home improvements, (live in it) and after three years put it for sale if the market is hot or use it as a rental property. Then reinvest the capital into another home.

If the detailing business you mention is not your own and you enjoy the work, start your own. If it is already yours, then build it through diversity and expansion. Many offices and car lots for example might contract with you to detail their cars on a regular basis. This will provide you steady income during times when the average joe customers aren't there as much. I have an aquaintance who started out this way and his business is now extremely sucessful.

Good luck, never give up your dreams

-RR

 

[Capt. Shockwave]

thanks for the intel dudes. Yea, the detailing business is my own, and down here in San Diego, Ive gotten close to 2-3 cars day! thats without too much adverising. But yea, going to businesses (real estate offices especially) is an excellent idea and I plan to do that soon

thanks for the help!
keep it coming

 

[roushraven]

thanks for the intel dudes. Yea, the detailing business is my own, and down here in San Diego, Ive gotten close to 2-3 cars day! thats without too much adverising. But yea, going to businesses (real estate offices especially) is an excellent idea and I plan to do that soon

thanks for the help!
keep it coming

Trust me it works, just be prepared for the increase in business. Don't forget to network for new customers too.

 

[Yellow98SVT]

My mother and father have neverr pulled in a penny more than 80K between them in their entire lives. Dad retired at 52 to never work another day in his life. My parents will be worth more than 1 million when they check out. It's all about money management and discipline. I will also say the first new car my father ever owned was at 65 years old. If you pay 800 a month for car and insurance and do that twice, that money would have been worth 200 to 300 thousand dollars twenty years down the road.

 

[SB Lightning]

Stocks...lots and lots of stocks

 

[Cammin4V]

all good advice.

I am only a year older, so im in the same boat as you. Everyone in my family own's their own businesses, so i get a lot of excellent help in money making ideas.

My advice is to start seriously advertising and spreading the word on your business. Go to car shows with business cards, offer previous customers discounts if they refer people, and just go with it. For all you know it could turn into a huge business, where you would need to hire people, and possibly even get a shop.

Good Luck.

 

[2003 Silver]

Real Estate is proven time and time again.....stocks, while very tempting...come with a lot of risk.....see 2001 as an example.

 

[03DOHC]

Real Estate is proven time and time again.....stocks, while very tempting...come with a lot of risk.....see 2001 as an example.

Rewriting history? Try earlier than that.

 

[2003 Silver]

Rewriting history? Try earlier than that.

Sorry if I was off by a year..............

 

[super302]

subscribing

 

[UCBeau]

so no 03 cobra?

 

[JerseySVT]

Real estate.........lots of it.

Oh, and can't forget about Diamonds (not to invest, just to buy and sell) and prescious metals like Gold and Platinum (which usually are a good investment that you can sit on for a while, unlike prescious stones.). You need to "know people" to do that kind of business though. Fortunately, I do. :beer:

But right now, real estate is a VERY wise investment.

 

[speederdoc]

Being "rich" is all in your perspective. Some people feel rich with $60K income (I did when I first hit that level). Some are frustrated with 5 or 50 times that much. There's always somebody with more stuff.

Always live below your means, save at least 10-15% of what you make, and be happy with what you have. Learn to enjoy the little things in life....they can be more satisfying than expensive toys, and don't cost a thing.

And when you are ready to and can afford to, start a family. There is nothing more satisfying than that.

 

[Squeeler92]

Being "rich" is all in your perspective. Some people feel rich with $60K income (I did when I first hit that level). Some are frustrated with 5 or 50 times that much. There's always somebody with more stuff.

Always live below your means, save at least 10-15% of what you make, and be happy with what you have. Learn to enjoy the little things in life....they can be more satisfying than expensive toys, and don't cost a thing.

And when you are ready to and can afford to, start a family. There is nothing more satisfying than that.

Don't think anybody could have said it better. "Rich" is all in your mind. Im sure there are people making millions a year who still feel that they are not making enough. If you're not happy with what you're doing with your life, I don't believe you can ever feel "rich".

 

[gonein60]

Tithe to the Lord

Do you want to prosper, and not kill yourself to get ahead, which only ends up in taking years off your life just to be rich. Tithe a tenth of your income to the Lord, He is in control of everything(stocks, real estate, investments,etc.......). God is the Boss, listen to Him, and He will bless you more than you can comprehend, and you won't worry yourself to death doing it. If you will feed the hungry ones and if you clothe the naked, you can be mine,you can be mine,Isaiah 58:7. It's not complicated at all, and the best part is the inner peace God will comfort you with.

Only Jesus is worshiped, and nothing else :bowdown:

Peace

 

[Capt. Shockwave]

so no 03 cobra?

Oh Ya.........Trust me, I want to get a Snake ASAP!!! However, right now I can get an 05 F150 XLT 4x4 WITH the SuperCrew AND the 5.4 for less than $20,000 over here at Ken Grody Ford. It is easier to finance a new vehicle, rather than a would-be used 03/04 Snake (plus they are going to run atleast $25k for a nice one). Trust me, my passion is with the Cobra.....I lose sleep at night thinking about what I would do to her to make my 650rwhp beast.....however for the sake of my Auto Detailing business (need room for tools/equipment) I think the F150 would be in my best nature, for the first car atleast. Hopefully a snake will be in a close second.

And as far as being "rich" goes......my image of being happily rich is owning a new Cobra, and a nice, new Lifted truck, a Big House with palm trees all around, a big pool out back, couple jet skis and a big 45' race boat with twin stroked and supercharged 460s with 1500hp.....somn thatll do 145mph on the water. (gettin carried away on the wish list, haha) That, with a GORGEOUS loyal wife, and a pitbull, and I am SET! (I actually have all that crap written on paper too, as a goal to have before 25 years old). I dont think thats too out-of-hand. I have 5 years to do it, and I will.

you guys here at SVTperformance kick ass and I appreciate you sharing your money-making knowledge. I think we could ALL benefit from this thread!

keep it coming!

-joe, out

 

[Capt. Shockwave]

Do you want to prosper, and not kill yourself to get ahead, which only ends up in taking years off your life just to be rich. Tithe a tenth of your income to the Lord, He is in control of everything(stocks, real estate, investments,etc.......). God is the Boss, listen to Him, and He will bless you more than you can comprehend, and you won't worry yourself to death doing it. If you will feed the hungry ones and if you clothe the naked, you can be mine,you can be mine,Isaiah 58:7. It's not complicated at all, and the best part is the inner peace God will comfort you with.

Only Jesus is worshiped, and nothing else :bowdown:

Peace

right on, actually, up until the last couple weeks, I have done just that. I firmly believe that God is blessing me with all my business and all my openings because of tithing (sp?) (among other things) before I go to bed, I try to read something more out of the bible, and it seems like every time I pick that book up, Im instantly motivated again to continue charging in my business and keeping my nose clean. right now Im pulling myself out of a huge rut I put myself in with all the stupid stuff I did these last couple of years (thank god that he forgives!), and God and the bible are pushing me 100% to not only be succsesful, but just leading a fulfilled life with him.