Can you afford your dream car working as an Engineer?
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Unfortunately, I was not allowed to film during the drive(bummer) but in this video I would like to discuss some theoretical possibilities if you plan to be an Engineer in the Future. Enjoy!
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I've got dream car goals as well lol Porsche is my favorite brand as well...I want a 918 but would settle for a 911 gt3 lmao, but my main goal besides doing well in engineering is to own a lot of real estate, so before I do any buying of any crazy nice cars I'll be buying property...flipping, house hacking, renting etc...I plan to do it all through strategic loans and refinancing etc. That way, if I'm really successful at it, working will be an option at that point and i'll be able to buy my dream car and dream home...I think I'll always work in engineering though in some way, I can't wait.
dont throw your money away into a sunk asset just yet, you made the smart choice. If you reduce your $700 for food and fun yo would save a lot more, but cali is hella expensive. my rule of thumb is never buy a car that is greater than 40% of your annual salary. sets yourself up for long term failure
Try wawanesa or amica insurance. or believe it or not, geico. I had wawanesa insurance for almost 5 or 6 years with all kinds of discounts: good driver, engineer profession (yes discount for being a professional), non smoking, car security system. I do not have any record in my claim history for last 5 years. Wawanesa jacked up the rate so I switched to geico. It's cheaper.
If I could give two thumbs up I would. You are a huge inspiration man. I also grew up in a similar situation. I’m currently a Civil Engineer student at a 4 year university and I admire your hard work. Great videos, awesome content, love the channel bro! Keep it up, you can only go forward.
Go Beyond Engineering bought it after getting married. it’s s highly depreciable asset. After 4 years worth less than $20k. And maintenance expense unheard of. For that price I could have another rental home where my money works for me. Just watched this video, maintenance is hurtful expense: https://youtu.be/ruZATEV0VJ4
You're a huge inspiration, I'm always taking things apart and putting it back together and learning how things work. When I was 15 I rebuilt my dirt bike with only a few videos from youtube, and without ever working on a car I replaced a part far into the engine. I don't want to become a mechanic as I enjoy seeing how things work and how to make them better. I also love cars and one day wish to buy the car of my dreams a 1967 Mustang. I'm currently 19 and pretty sure I'm going to study to become an Engineer. Do you have any advice?
If you love to learn how things work, then you are definitely an Engineer. Now it's up to you to decide what is the most interesting to you? Do you want to learn how computers work? maybe electricity? maybe electronics? maybe cars? or the new Electric cars? ....I would recommend you study something that you enjoy learning about...that will make University much easier and will give you the edge when you interview.
Despite what others are saying in the comments, I just wanna say, don't mind the jealous people telling you not to but it and this and that. Live your life. You are still a huge inspiration. Seriously.
I would have to say it is not a good (for me personally)
I understand if it is someone's dream car and it would make them very happy.
But $50k is a lot of money that you could be investing for retirement. If you invest $50k at 5% returns, you would have made $30k in ten years!
My student loans are pretty much free debt. I explain it in my student loans video. Basically I have enough to pay them back but I choose not to because I can make a higher return investing that principal. It also helps my credit score by making my loans more diverse and increasing my credit age.
With my current set up, I'm already investing about 20k per year. This is additional income. I think there needs to be a balance between saving for retirement(not guaranteed) and enjoying things now. Yes you can say, take the additional income and also invest it, but it's hard to put a value on personal happiness.
To be honest I don't know. I haven't put too much thought into it. If it's a side business, it can't have a conflict of interest, so I think it would have to be something not catered towards electrical Engineering.
Go Beyond Engineering about the business idea what would an electrical engineer go into business as if the business catered toward the labor experience or would it make more sense to do something not catered toward electrical engineering?
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