Between allll of the things Im doing right now, time is extremely limited. For example, I have a car, like many of you have a car. This 36 month pre-paid in cash lease, for essentially an electronic bucket, helps save me time. In fact if this car began to cost me time, then I would begin to no longer have a need for it. Still, everywhere I go, people ask me why I dont drive the typical L.A. car with the type of money and assets I have obtained over the last 5 years. My answer yet again: I do not have the time. But not in the I do not have enough time to go to a dealership to pick one out type of I dont have time. The truth is I run a business that provides multiple services - one of which is to help buy clients cars and make sure they dont get financially raped in doing so. So Im constantly in and out all types of dealerships - from Ford to European luxury car dealerships fighting with horribly slimy sales people and the people that manage them. And in doing so, even though I could easily afford to do the same financial f*ckery myself, heres a few things Ive realized I am not able to allocate my precious time for in regard to these types of cars: #1. Making sure larger amounts of money are in my checking to cover auto related expenses - instead of having that money working for me in my investment account. Large sums partially so I can make sure high car notes and leases are properly paid to banks each month like the bottom ho I would become. Time is one of the strongest components of compound rates of return which I would have to trade more of to make these things happen. #2. Taking my european luxury car to full service car washes every 5 days, spending the time waiting, being expected to tip like an NBA player and then doing the same when I have to get it detailed every 30 days as well. #3. Driving around retail store parking lots trying to find a specific spot for my 13 coat, $3k pearl white paint job. Trying to find parking spots near cars whos doors arent long enough or close enough to mine as to ding my car when they are opened. #4. Having to put hands on and end up in jail over the person that chipped my 13 coat, couple thousand dollar paint job on my luxury whip. #5. Worrying about where I park late night or over night near a specific residence and if that $55k car will still be there in the morning. #6. Taking my horribly inefficient luxury car to the gas station every few days. More money spent at high fee convenience stores connected to these gas stations and increased risk for card fraud as well. #7. Constantly going to the ATM every few days to pull out and keep on me -in a money clip- hundreds of dollars for gas stations so I DONT have to use my debit card and hopefully decrease my chance of fraud activity at a gas station. #8. Taking in my luxury car for random maintenance after random maintenance after random maintenance - and then expensive scheduled maintenance not even covered by my lease or purchase. #9. Paying inflated luxury car insurance costs. #10. Paying inflated luxury car registration fees (luxury car tax) in the state of California ever year. #11. Worrying about police targeting me everywhere I go because it financially appears I can single handedly fund their weekly traffic ticket quota. #12. Worrying about where to purchase concealed weapon on the underground market to combat #5 #13. Taking the long way around certain neighborhoods because I along with my new luxury whip cant get caught slippin at certain stop lights in your neighborhood. #14. Purchasing bullets for #5, #12 & #13 #15. Bail Just for shits and giggles though, heres something I DO have time for: 1. NOT being car poor in this short life on earth. Remember, part of a wealthy life is in controlling your time while youre here. When I say I do not have time to do these things, Im saying I dont have time ALLOCATED out of the limited amount I have to service something that does not add any value to my life. The things we dont even own end up owning us.
Posted on: Sat, 29 Nov 2014 22:55:21 +0000
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