NSX Life Lesson

[hejo]

justification for the wife to read.

Tan

My wife changed after she had an “experience”. That's when she started doing the things she's always wanted to do and I got my NSX.

It's a good thing as I became ill myself. All the things I loved doing became extremely difficult to do. The good news is I’m almost fully recovered. I'd love own another NSX, race Spec Miata and shifter karts and sail the med - Capri and Naples are calling me in a big way

Alex Zanardi has been my inspiration. Compared to what he has overcome my issues seem like nothing. I know I'll do some of those again. I’d love to thank him in person some day- maybe in Monaco on my way to Capri from Barcelona?

Live life to it's fullest. Tell family and friends how you feel about them, often. Put a plan together to do the things you really want to do and it will happen.

 

[Dtrigg]

Boy, I know I am going to get flamed to death on this, but I can't imagine streaching to buy a car. I currently own an NSX and have owned another in the past. My now NSX was a decision between it and a 355. Didn't want to spend the annual $5,000 to $7,000 for Ferrari maintenance. (My wife wanted me to buy it!) But to steach to own a car is beyond my understanding.

I guess I am of the "older generation". I am 54, but I am also retired. I did the corporate live, lived all over the world, owned lots of exotic cars, etc.. But the one thing I always did is live below my means. There is a great book entitle, "The Millionaire Next Door" and it details how the real people that are well positioned are the ones that live below their means. If you make $500,000 bucks a year and spend $500,000 a year, your net worth is going to be zero.

Wow, I now feel VERY old. Yeah, I have also jumped out of airplanes, did all of that other stuff, but I have to think of the lady that began this string. Bet you that even if she was driving that NSX, it wasn't a streach for her.

Don't want to think that I am leacturing; it's just my two cents. And I have always thought that live is for living.

Regards,

Doug

 

[MadMaxx]

It is a good book. What brought that up though?
Just wondering.

MM

 

[PHOEN$X]

Boy, I know I am going to get flamed to death on this, but I can't imagine streaching to buy a car.
...
But the one thing I always did is live below my means. There is a great book entitle, "The Millionaire Next Door" and it details how the real people that are well positioned are the ones that live below their means. If you make $500,000 bucks a year and spend $500,000 a year, your net worth is going to be zero.

Great book, good advice. There are a lot of young readers here, and I'm sure Doug just intended to give some balanced advice. IOW, yes live life to the fullest, but don't cash in your future to live for the present. That 75yr old lady could just as easily have been a homeless bag lady that squandered all her savings to have a fun youth. You can have a rewarding life without being a scrooge or a spendthrift.

 

[Dennis in SE PA]

That 75 year old lady could possibly be dead by now or in a state run rest home (for free) with tubes into her veins. Her respite from the reality of her current condition could be her memories of what was. It happens more often than you can imagine. I am not waving the flag for fiscally irresponsible living. I am merely asking everyone to re-evaluatete the BS that has been handed to them. Not everyone will be lucky enough to retire in that Ocean Front Condo in Boca Raton, Fl. many will sacrifice TOO MUCH thinking that is where they will end up. When they in fact end up somewhere else.

Those who expect too much are often dissappointed.
Just my wayward thoughts. I claim to know nothing. Yet I am also dissappointed.

Go Figure.

 

[PHOEN$X]

I am merely asking everyone to re-evaluatete the BS that has been handed to them.

What BS are you talking about? I don't see any BS, just different lines of thought on how to live life: you can live as though there's no tomorrow, or save for a rainy day (which may or may not come). IMO, you don't have to live in either extreme to be able to do the things you enjoy...there's a happy medium somewhere in between.

 

[PorknBeanz]

I know the “Millionaire Next Door” is a popular book, and I expect to get flamed for this, but I didn’t like it at all. To me it is a snapshot in time, at the height of the bubble market.

Basically, the lesson is to live below your means, invest what you have left over. All the winners in this scenario had lots of money (because of their investments) but not a lot in the way of showy possessions. If I remember correctly, the most popular car among the winners was a Ford F150. The losers were in debt after buying fancy houses and cars.

If the book was published three years later than it was, the snapshot would show that people who lived below their means, and invested, got wiped out when the bubble burst, and they’d still be driving Ford trucks. At the same time, the people who were the conspicuous consumers and did not invest, would all be driving NSXs, have nice houses, and would probably have no short-term debt because they paid it all off when they refinanced those expensive showy houses that appreciated 50% in the past 5 years

 

[PHOEN$X]

If the book was published three years later than it was, the snapshot would show that people who lived below their means, and invested, got wiped out when the bubble burst, and they’d still be driving Ford trucks.

That's pretty funny, but not what I remember. If I recall, most of the millionaires interviewed were business owners; they didn't make their money from investing in technology stocks.

On the other hand, a lot of "dot com millionaires" did lose their fortunes when the stocks crashed, including their mansions and fancy cars. I'm sure that's how many of us have come to acquire our NSXs -- I did.

Bottom line: you don't have to save every penny, but you shouldn't spend every dollar you make either. Use some for personal enjoyment, and set aside what you can (to put into diversified investments).

 

[j14nsx]

You shouldn't have to buy things just to be happy though. The NSX is great and all, but it's not everything. In the big scheme of life it's actually a bit sad if you're only happiness comes from the goods you buy. Happiness doesn't 'cost' anything.

In fact, I enjoy owning the NSX, I'm happy that I'm lucky enough to have one, but on the other hand it's also frustrating to have one on our overcrowded roads, with moronic other drivers.

Not aimed at anyone in particular, just a general comment.

 

[PKim]

NSX life lesson

I agree that you should live life to the fullest but that doesn't mean to go out and over extend your financial means. I think that NSX is a great car but don't extend yourself to get one. I echo Dougs words in that it is not what one makes but how much one spends. Whether is be a NSX, F-car, P-car, Zonda, etc.. these are just material possession that can never, ever bring true happiness. How many of us had bought a car, house or something of immense value to only a couple of months or years later have yearned for something of more value? It is human nature to have a insatiable appetite for material things. I did not read the book, "millionaires next door" but I recommend the book by Dennis Prager, "Happiness is a serious problem" I'm not trying to preach, all I'm saying is that we all have a void and no amount material value can fill the void, it may fill it temporarily but not long term.

Paul

 

[PHOEN$X]

Re: NSX life lesson

How many of us had bought a car, house or something of immense value to only a couple of months or years later have yearned for something of more value? It is human nature to have a insatiable appetite for material things.

How true (damn human nature!). I like the book "Your Money Or Your Life" by Joe Dominguez and Vicki Robin. It talks about how our wants are never ending, and beyond a certain level--once basic needs are met--energies spent on satisfying those material desires lead to a law of diminishing returns (in terms of personal happiness).

Not to detract from Ed's story though, it does make a good point: don't forsake living in the present in order to sacrifice for the future.

 

[NSXGeek!]

Good story Ed, thanks for sharing!

 

[john576]

I recall mention of mid-sized Buick and Ford cars in "The Millionaire....." book

 

[NSXaholic]

It's good to hear stories like Ed's, as they remind you of the importance of living each day to the fullest. That being said, I too, have a little bit of trouble thinking about extending myself beyond my "means" in order to satisfy my wants. By "means" I am talking about my unlevered disposable income -- money in the bank from salary, bonus and other recurring sources. I think we can all go out and take a loan, use credits card, and figure out other ways to use financial leverage to increase our disposable income. I -- like Doug -- however, think that life should be a series of balanced decisions. For example, one personal decision I believe in is to never buy a car unless I could pay for it in cash outright. That doesn't mean I will pay for it in cash; just that I have the comfort of mind that I could, should the "worst case" (whatever that may be) ever happen. I get concerned that sometimes we live too much in a "Buy Now (Somehow), Worry About It Later" society. This doesn't mean one can't be impulsive, or at times, even a little crazy. I guess tempered enthusiasm is what I am talking about. I think PHOEN$X wrote it well, when he notes:

...Bottom line: you don't have to save every penny, but you shouldn't spend every dollar you make either. Use some for personal enjoyment, and set aside what you can (to put into diversified investments).

Enough rambling from me.

Regards.

 

[Dtrigg]

Hay thanks guys. I don't feel so old now. I have no desire to preach to anyone, and what one does is none of my business. I would just hate to see someone spend their last few buck to drive an NSX because it's so important to them, or their perception. We all love our cars, but I think most of us put it in perspective and do what's most appropriate to us.

I just wanted to provide some insight to some that "short term gain may lead to long term pain." In reality we all have to make our own decisions, and do what's best for us.

Rather than being "Doug" or "dtrigg" I shall be known as something as "Your Dad", "Your Worst Friend", "The Guy That Shatters Your Deams", etc.

Regards.

Doug

 

[Dtrigg]

Ed:

Forgot to mention that I appriciate your thread.

Thanks for your sharing.

Doug

 

[I'm NSXed]

I agree with Dtrigg

how the real people that are well positioned are the ones that live below their means. If you make $500,000 bucks a year and spend $500,000 a year, your net worth is going to be zero.

I don't think anyone is suggesting that you should not enjoy. One has to reach a balance. The concept of living below your means is implying that you are investing in the future. It has done me well. I have enjoyed many fine things in life, I just spread them out over time.

I am sure the buyer of this car found a good balance, rumor has it that he paid 1.2 mil for his toy. By the way the picture of the Enzo does not do the car justice, it is incredible in person.