Dilemmmmaaaa - What do you do when your boss and his boss drives .....
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From: SF Peninsula and N Lake Tahoe
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Here is what I tend to make out of the comments I typically get -
- You are foolish to spend so much money on a car
- You are trying to show off
Anyway that being said, one of our partners (my mentor) met me and my wife for dinner one night and looking at my 997 commented quite nonchalantly "why would to spend so much on a depreciating asset"....having said that he went on and on how he has just put 4 million down on a penthouse worth 20 million .....fast forward 1 year .....2008 and when I spoke to him I learnt that his investment in the penthouse dropped 60% and how we was happy to cut his losses and get out of it at a fairly decent loss of $2.5 million ....I almost said it but I held back..."duh"
- You are foolish to spend so much money on a car
- You are trying to show off
Anyway that being said, one of our partners (my mentor) met me and my wife for dinner one night and looking at my 997 commented quite nonchalantly "why would to spend so much on a depreciating asset"....having said that he went on and on how he has just put 4 million down on a penthouse worth 20 million .....fast forward 1 year .....2008 and when I spoke to him I learnt that his investment in the penthouse dropped 60% and how we was happy to cut his losses and get out of it at a fairly decent loss of $2.5 million ....I almost said it but I held back..."duh"
but that same penthouse is probably 30-40 million today if he had held it , if it were in SF, NY, London or Paris
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Penthouse was in Battery Park NY
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Then really he was stupid to sell. He would have been ahead now. He should now at that income range to be smarter with his money and investments.
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alec
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Also look at history. Stock market crashes happen every few decades or so. Yes some are worse than others (1929, 1987, 2001, 2008) but we always come back. Either that or the financial world will end in which case money no longer matters.
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Its not just in my head - let me explain an incident
One day I was asked to accompany some of the partners of my firm to a silent auction (charity) ...it was somewhat of a spontaneous request ...I agreed to go with them because I had my evening open
When I got there....
I put a bid on a new Omega Sea master (opening bid was $1,000) and finally won it for $2,600 .... the watch is easily worth $5K
one of the partners commented - "wow - that is not a small purchase" and commented "Even I couldn't afford to buy a watch like that unless I have been planning and saving for that for sometime" ...but I saw it and it was a no brainer for me...
I have also heard comments like "He drives the most expensive car in this office" ......
One day I was asked to accompany some of the partners of my firm to a silent auction (charity) ...it was somewhat of a spontaneous request ...I agreed to go with them because I had my evening open
When I got there....
I put a bid on a new Omega Sea master (opening bid was $1,000) and finally won it for $2,600 .... the watch is easily worth $5K
one of the partners commented - "wow - that is not a small purchase" and commented "Even I couldn't afford to buy a watch like that unless I have been planning and saving for that for sometime" ...but I saw it and it was a no brainer for me...
I have also heard comments like "He drives the most expensive car in this office" ......
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It sucks to be you, what can I say Nancy. You have some serious problems to deal with in your life. I'd say the best thing for everybody is for you to take the gas pipe. I feel so bad for you...just know you have friends here that understand the difficulties of your sorry life. Good luck with it all!!
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As a counter point to being the boss with the new 911, years ago one of my bosses bought himself a brand new Aston for his birthday. It was an incredible and beautiful machine, lots of "oohs and aaahs" from us grunts. None of us had any hard feelings on the subject, in fact it actually inspired all of us to work a little bit harder. We could see the rewards that came from his years of hard work and experience, and we wanted to get there too.
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One of my mentors has a garage worth millions, but he drives an F-150 to work.
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++ 1
Surprised how this thread was a magnet and brought out the all the insecure and whiny folks not what I expected from a bunch that I'd presume tend to be a more affluent and successful than the average..
I'm surprised I haven't heard "I bought the car and hide it in the garage under a sheet so the butler and maid don't ask for a raise".
Surprised how this thread was a magnet and brought out the all the insecure and whiny folks not what I expected from a bunch that I'd presume tend to be a more affluent and successful than the average..
I'm surprised I haven't heard "I bought the car and hide it in the garage under a sheet so the butler and maid don't ask for a raise".
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).(Maybe because I flip 'em off first now, I turned bad too haha)
Note to serge, we just had elections, forming govs on federal and regional levels now. Diffs beween north and south have never been this big it seems. Orange right wing north versus red left wing south ! It's like watching a soap opera sometimes, unfortunately it is reality!
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I got some phenomenal deals that year though
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++ 1
Surprised how this thread was a magnet and brought out the all the insecure and whiny folks not what I expected from a bunch that I'd presume tend to be a more affluent and successful than the average..
I'm surprised I haven't heard "I bought the car and hide it in the garage under a sheet so the butler and maid don't ask for a raise".
Surprised how this thread was a magnet and brought out the all the insecure and whiny folks not what I expected from a bunch that I'd presume tend to be a more affluent and successful than the average..
I'm surprised I haven't heard "I bought the car and hide it in the garage under a sheet so the butler and maid don't ask for a raise".
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It sucks to be you, what can I say Nancy. You have some serious problems to deal with in your life. I'd say the best thing for everybody is for you to take the gas pipe. I feel so bad for you...just know you have friends here that understand the difficulties of your sorry life. Good luck with it all!!
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Sure that's what it means ..