How do you afford your cars?
Discussion
Progressed to BMW/Merc, becoming a sales manager, from there became a sales manager for Aston Martin/Ferrari, eventually venturing out on my own 8 or 9 years ago........easy to justify my cars as they are up for sale all the time Hard work, headaches and stress, like most people here......
Not as a father of three kids at the traffic lights assumed the other day when he pulled up, rolled the window down and asked quite seriously.....
"My son wants to know how many Kilo's of drugs you have to sell to buy a car like that?"
I had to laugh though just for the pure look on his kids faces as he asked the question....
Not as a father of three kids at the traffic lights assumed the other day when he pulled up, rolled the window down and asked quite seriously.....
"My son wants to know how many Kilo's of drugs you have to sell to buy a car like that?"
I had to laugh though just for the pure look on his kids faces as he asked the question....
Thanks to all the serious replies.
The reason I ask is that I bet that there are many people here who earn lots of £££££ in professions that are not obvious to the average folk. For example I previously read in a magazine somewhere that a guy who works in the printing industry (cant remember whether he owned the firm or just worked there in a senior position) owned a nice collection of exotic cars.
Now to me, the printing industry was never a career option for me when I was younger.
I come from a poor background and have worked hard all my life. Just finished my degree (2 yrs ago) at one of the top uni's and now work at an investment bank as a trader. I currently do not earn that much being a very junior person, but in a few yrs I guess I can expect a healthy salary. However the problem is, is that I really find my job boring (mainly due to the mundane product) and therefore am looking a career change. Will enrol on an MBA this Sep 2006 with a view to a career change either working with more complex and interesting products or even better to start a business in something that I have a passion for (would rather earn less and enjoy my life than earn £££ dreading every Monday morning).
Therefore just wanted to hear about your different stories as I am sure there are many entreprenaurs here or people in very unconventional roles. By unconventional I simply mean, not a city banker, FTSE 100 Exectutive or Strategy Consultant. I have since learnt that there are lots of ways to make money in this world but I guess over the years I have been fed and forced into the route I am currently in.
The reason I ask is that I bet that there are many people here who earn lots of £££££ in professions that are not obvious to the average folk. For example I previously read in a magazine somewhere that a guy who works in the printing industry (cant remember whether he owned the firm or just worked there in a senior position) owned a nice collection of exotic cars.
Now to me, the printing industry was never a career option for me when I was younger.
I come from a poor background and have worked hard all my life. Just finished my degree (2 yrs ago) at one of the top uni's and now work at an investment bank as a trader. I currently do not earn that much being a very junior person, but in a few yrs I guess I can expect a healthy salary. However the problem is, is that I really find my job boring (mainly due to the mundane product) and therefore am looking a career change. Will enrol on an MBA this Sep 2006 with a view to a career change either working with more complex and interesting products or even better to start a business in something that I have a passion for (would rather earn less and enjoy my life than earn £££ dreading every Monday morning).
Therefore just wanted to hear about your different stories as I am sure there are many entreprenaurs here or people in very unconventional roles. By unconventional I simply mean, not a city banker, FTSE 100 Exectutive or Strategy Consultant. I have since learnt that there are lots of ways to make money in this world but I guess over the years I have been fed and forced into the route I am currently in.
Its interesting to hear people asking what we do.... I remember myself asking when I was 14 what the people did with expensive cars and nice houses.
I am 22 now and have a good life.... I decided not to go down the Uiversity route and instead started my own company at the age of 16. That developed into multiple companies and I recently sold one of them to a well known ISP. I now run a fund management company trading mainly the s&p 500 futures. One of my passions in life is developing trading systems and watching them work in the real world. I don't do this for any large companies or clients I do this for myself and my friends.... the people that supported me throughout my early years. What is good is that I started young, ill never regret not going to university and I am fairly safe in the knowledge that if it all goes belly up - so what - you can start again.
It is true what you say though.... you need to be happy in your job to make a success of it. The general rule of thumb is that if your not happy you simple won't put in 100%!
I enjoy my job thoroughly, infact it is so sad that I even can't wait for the next trading day to see what is going to happen and what the market will throw at me!
There is one common rule between all of my friends and I probably speak for many people on here... I missed out on a lot of my teenage years due to the hard work, tears and sweat that I was putting in. But not for one minute do I regret it. It takes a lot to succeed but I am very sure of the fact that you can have anything you want as long as you work hard enough for it.
Just remember... there is light at the end of the tunnel but get that balance right - work hard and play hard too!
All the best
Duncan
I am 22 now and have a good life.... I decided not to go down the Uiversity route and instead started my own company at the age of 16. That developed into multiple companies and I recently sold one of them to a well known ISP. I now run a fund management company trading mainly the s&p 500 futures. One of my passions in life is developing trading systems and watching them work in the real world. I don't do this for any large companies or clients I do this for myself and my friends.... the people that supported me throughout my early years. What is good is that I started young, ill never regret not going to university and I am fairly safe in the knowledge that if it all goes belly up - so what - you can start again.
It is true what you say though.... you need to be happy in your job to make a success of it. The general rule of thumb is that if your not happy you simple won't put in 100%!
I enjoy my job thoroughly, infact it is so sad that I even can't wait for the next trading day to see what is going to happen and what the market will throw at me!
There is one common rule between all of my friends and I probably speak for many people on here... I missed out on a lot of my teenage years due to the hard work, tears and sweat that I was putting in. But not for one minute do I regret it. It takes a lot to succeed but I am very sure of the fact that you can have anything you want as long as you work hard enough for it.
Just remember... there is light at the end of the tunnel but get that balance right - work hard and play hard too!
All the best
Duncan
Thanks Roger, have sent you an email.
dmaci38293, I am actually considering trying to get into prop trading for myself. How did you start? Did you work for these Prop Trading Firms that offer you training and trading services who then take a cut of your profits. Do you actually lose a scary amount of money on a given day?
Anyone know whether these firms should be avoided?
Have recently read in the paper how profits at Maclaren has soared this year. Now how does one become a Ron Dennis? I dont remember any F1 career advice when I was at school. I dont think I am smart enough to do neweys job but Dennis' job cant be that difficult
Whatever my next move, my dream Murci doesnt seem any closer than when I craved after a Countach at the age of 5.
Just need to keep plugging away.
dmaci38293, I am actually considering trying to get into prop trading for myself. How did you start? Did you work for these Prop Trading Firms that offer you training and trading services who then take a cut of your profits. Do you actually lose a scary amount of money on a given day?
Anyone know whether these firms should be avoided?
Have recently read in the paper how profits at Maclaren has soared this year. Now how does one become a Ron Dennis? I dont remember any F1 career advice when I was at school. I dont think I am smart enough to do neweys job but Dennis' job cant be that difficult
Whatever my next move, my dream Murci doesnt seem any closer than when I craved after a Countach at the age of 5.
Just need to keep plugging away.
You are a wag Bedford! ukbondraider said:
Hi all,
just wanted to ask what you folks do for a living (if you dont mind me asking) to be able to afford your Lambos and Ferraris. I really would like to hear about your different paths whether its a rags to riches story, hard work or simply luck.
Thanks
Alternatively,dont buy bonkers cars, so that you can pack in the rat race early.City trading takes its toll my young friend,and you're a long time dead.Plenty of my ex-colleagues drive the aforementioned marques,and they look more stressed and ill every time I see them....just make sure you get the balance right.
or you could just ignore the ramblings of a chilled-out cynic and save up for a nutty car after all
Regarding the Prop trading idea - in my experience the only people that make alot of money are the owners - I personally know the guys that own / owned the 2 biggest in the UK (one begins with 'S' the other with 'M'for those that can work it out) and few of their traders ever made consistant returns month in month out due to trade limits and arbitrage opps being few and far between. I get alot of CV's from guys that have tried the trading arcade idea and now want a steady salary to support them - the best way to make a million for prop trading is to start with £2m!
The bigger the risk you take, the bigger the pay off - so treat your next move as a trade - are the odds in your favour and does the potential pay off justify the risk?
Stating the obvious I guess so apologies for that.
The bigger the risk you take, the bigger the pay off - so treat your next move as a trade - are the odds in your favour and does the potential pay off justify the risk?
Stating the obvious I guess so apologies for that.
god...im glad I dont fit into quite the same category as 'worked blood, sweat and tears'.
I do a variety of jobs...all very interesting...main money is from busines consultancy...mostly very large firms (like Nike, Merck etc..), but more recently a lot of product development stuff....i still think its a cmomen sense job, but people seem happy to pay for it. Also deal gemstones and do bespoke jewllery creations.....
the concept of a real 9-5 job fills me with horror if Im honest.....Im not saying I dont work hard, cos I made all my own money, but Im certainly not ever going to be a rich but old looking and burnt out city boy!
I do a variety of jobs...all very interesting...main money is from busines consultancy...mostly very large firms (like Nike, Merck etc..), but more recently a lot of product development stuff....i still think its a cmomen sense job, but people seem happy to pay for it. Also deal gemstones and do bespoke jewllery creations.....
the concept of a real 9-5 job fills me with horror if Im honest.....Im not saying I dont work hard, cos I made all my own money, but Im certainly not ever going to be a rich but old looking and burnt out city boy!
Don't ever try I.T., you'll just end up being f
d by the Inland Revenue for the rest of your life.
On a more serious note, this is actually a really great thread.....is there anyway it could be moved somewhere and made a Sticky? If more people add to this, it could be a great way to get tips or establish contacts who can lend advice.
I set up my own IT company two years ago, and next year I'm looking to expand and develop it with the intention of using my income as a method to enter ventures in other sectors. I don't know if anyone would agree, but it seems to me that unless you've always followed one path AND become VERY good at it, the best way to those extra pennies we all love is to diversify........
>> Edited by MarkoTVR on Friday 11th November 17:00
d by the Inland Revenue for the rest of your life. On a more serious note, this is actually a really great thread.....is there anyway it could be moved somewhere and made a Sticky? If more people add to this, it could be a great way to get tips or establish contacts who can lend advice.
I set up my own IT company two years ago, and next year I'm looking to expand and develop it with the intention of using my income as a method to enter ventures in other sectors. I don't know if anyone would agree, but it seems to me that unless you've always followed one path AND become VERY good at it, the best way to those extra pennies we all love is to diversify........
>> Edited by MarkoTVR on Friday 11th November 17:00
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