At 29, I bought a brand new $120k Porsche.
A year later it was worth $90k.
3 years later I sold it for $85k.
It was the dumbest financial decision I ever made.
Knowing what I do now, here’s what I’d do BEFORE buying a luxury car:
A year later it was worth $90k.
3 years later I sold it for $85k.
It was the dumbest financial decision I ever made.
Knowing what I do now, here’s what I’d do BEFORE buying a luxury car:
I didn’t grow up with much.
So when I finally started making good money from my ATM business…
I thought, “I deserve this.”
It felt amazing to drive it around.
But financially it set me back years.
If I could go back, I’d do it differently.
So when I finally started making good money from my ATM business…
I thought, “I deserve this.”
It felt amazing to drive it around.
But financially it set me back years.
If I could go back, I’d do it differently.
If I had invested that $120k instead of buying a car…
Today I’d have:
→ $268k in the S&P 500
→ $600k in Apple
→ $1M in real estate
→ $1.86M in Bitcoin
→ $2.51M in Nvidia
Instead, I bought something that lost almost half its value in 3 years.
Today I’d have:
→ $268k in the S&P 500
→ $600k in Apple
→ $1M in real estate
→ $1.86M in Bitcoin
→ $2.51M in Nvidia
Instead, I bought something that lost almost half its value in 3 years.
That mistake taught me a lesson I’ll never forget:
Assets first. Rewards later.
Yes, enjoy your money.
But not at the cost of your future.
Assets first. Rewards later.
Yes, enjoy your money.
But not at the cost of your future.
Thankfully, I had other businesses that helped me recover.
But I’ve watched a lot of my peers buy luxury cars with nothing but a paycheck behind it.
And those cars ended up killing every chance they had at financial freedom.
But I’ve watched a lot of my peers buy luxury cars with nothing but a paycheck behind it.
And those cars ended up killing every chance they had at financial freedom.
Even now, with a $25k/month credit card processing business…
I don’t feel like I could afford that Porsche if I was relying on that income alone.
Here’s why…
I don’t feel like I could afford that Porsche if I was relying on that income alone.
Here’s why…
It’s not just how much you make today.
It’s about how much you invested over the last 3 years.
And if you don’t have $100k+ invested…
Buying a $100k car is probably the worst financial move you can make.
It’s about how much you invested over the last 3 years.
And if you don’t have $100k+ invested…
Buying a $100k car is probably the worst financial move you can make.
A luxury car is a reward.
But if you haven’t built anything worth rewarding yet…
It’s just a shiny liability.
Don’t chain yourself to something that looks good but sets you back a decade.
But if you haven’t built anything worth rewarding yet…
It’s just a shiny liability.
Don’t chain yourself to something that looks good but sets you back a decade.
Here’s what I’d do instead:
1. Start a simple, cash-flowing business
2. Save $50k+/yr from that income
3. Use it to buy 1 rental per year
Once your cashflow covers your bills…
And your net worth is 10X your dream car…
Then it’s time to reward yourself, guilt-free.
1. Start a simple, cash-flowing business
2. Save $50k+/yr from that income
3. Use it to buy 1 rental per year
Once your cashflow covers your bills…
And your net worth is 10X your dream car…
Then it’s time to reward yourself, guilt-free.
I learned the hard way that status symbols don’t build wealth.
Assets do.
If you want to copy the exact playbook I used to start a $25k/month credit card machine business…
DM me “DETAILS” and I’ll walk you through it step-by-step.
Assets do.
If you want to copy the exact playbook I used to start a $25k/month credit card machine business…
DM me “DETAILS” and I’ll walk you through it step-by-step.
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