Any good reason to stick with 1st Gen?

[Kona61]

Originally Posted by 86-75309

My 2014 Cayman suffered from what a lot of modern performance cars suffer from, tall gearing. Second gear in my 86 matches first gear in the Cayman.

That was the worst thing about the GT4 my mother had. Any backroad was 1st or 2nd. I believe it topped out around 80-some MPH in second?

[wheelspeed]

Originally Posted by Blighty

Well... There are plenty of us out there who haven't had any support from our parents the second we hit 18 and moved out.

You win in ANY economy by being highly skilled in a job people require.

And honestly, being highly skilled just requires you to dedicate yourself to something, it doesn't even need that you be some very smart person or hold a lot of degrees or anything really.

Yeah, "Generational wealth" is a media thing or (in USA) a democratic thing to get people pissed off and feel like they're situation isn't their blame, but that they just don't have 'generational wealth'. Bullshit. It's not a thing. Sure, movie-star kids and some Rockefeller kids have generational wealth, but that's a super small %, everyone I know didn't have anything to start with. But their parents were hard working and down to earth, and their kids ended up hard-working and down to earth. I'm speaking of some college friends but also my highschool friends. Heck, the guy who did Heating-Ventilation-Air Conditioning "HVAC" in highschool may be the richest of us all... He never had college bills, started working at 18, and then got his plumbers license and now has his own company. There's a huge shortage for these people now, so he just rakes it in.

Sorry for the political rant on a car forum but the generational wealth thing is a serious trigger for me.

[wheelspeed]

Originally Posted by Ernest72

... Remember, even people who got generational money in many cases that money came from hard work.

There is really NOT generational money floating around.

Learn a useful trade or skill, show up every day you're supposed to, and be customer focused. There you go.

[Sapphireho]

Originally Posted by wheelspeed

Yeah, "Generational wealth" is a media thing or (in USA) a democratic thing to get people pissed off and feel like they're situation isn't their blame, but that they just don't have 'generational wealth'. Bullshit. It's not a thing. Sure, movie-star kids and some Rockefeller kids have generational wealth, but that's a super small %, everyone I know didn't have anything to start with. But their parents were hard working and down to earth, and their kids ended up hard-working and down to earth. I'm speaking of some college friends but also my highschool friends. Heck, the guy who did Heating-Ventilation-Air Conditioning "HVAC" in highschool may be the richest of us all... He never had college bills, started working at 18, and then got his plumbers license and now has his own company. There's a huge shortage for these people now, so he just rakes it in.

Sorry for the political rant on a car forum but the generational wealth thing is a serious trigger for me.

Yep. 88% of all millionaires are self made.

[Quentin]

Originally Posted by Sapphireho

Yep. 88% of all millionaires are self made.

Self-made only means they didn’t directly inherit from their parents. Jeff Bezos would be considered self made… but his parents invested $250k of their life savings for the initial start up capital. $250k isn’t generational wealth… but it is a big chunk of change that most people don’t have access to.

From your 88% number, I’d wager a vast majority of those millionaires got that way from getting access to assets that exploded in value. Right idea, right place, right time. Once you have money, it’s easier to make more money.

For example: didn’t have to work during HS > focused on school > got good grades > got scholarships > little college debt > invested extra in 401K at 23 thru present (versus saddled with debt) > 401K, that I put zero physical work into, earned more than my salary last year.

Some of that was hard work and good decisions… but a lot of that was based on a great starting point. Not generational wealth, but not having negative outside boundary conditions.


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[mazeroni]

Originally Posted by Quentin

From your 88% number, I’d wager a vast majority of those millionaires got that way from getting access to assets that exploded in value. Right idea, right place, right time. Once you have money, it’s easier to make more money.k

https://www.businessnewsdaily.com/28...-got-rich.html

"Further, a second study by Fidelity Investments found that 88% of all millionaires are self-made, meaning they did not inherit their wealth.

The Fidelity study also revealed that self-made millionaires' top sources of assets were investments/capital appreciation, compensation and employee stock options/profit sharing. [...]

For self-made millionaires, though, coming into wealth isn't always a simple process – many of them worked hard to achieve the financial success they did, and then had the smarts and savvy and put their new wealth in the right places."

It is primarily some combination of a working, investments, and the acquisition of appreciable assets. If you work a middle of the road job for 40 years and max out your investments and 401K, you can easily become a millionaire.

My parents would technically be "self-made millionaires," but they are in their 60s and have a house, 401k, and other assets. None of it is really that liquidable and it must last them 40 more years. My dad's most luxurious purchase recently was a base modal Toyota Venza.

[Dadhawk]

Originally Posted by mazeroni

My parents would technically be "self-made millionaires," but they are in their 60s and have a house, 401k, and other assets. None of it is really that liquidable and it must last them 40 more years. My dad's most luxurious purchase recently was a base modal Toyota Venza.

Your parents aren't alone. Estimates are about 8% of the US population are these types of millionaires. Heck, in the majority of the US, if you bought a house in your 20's and paid it off over 30 years, by the time you are in your 50's you are 50% or more the way to being a millionaire just from owning your home.

[Quentin]

Originally Posted by mazeroni

https://www.businessnewsdaily.com/28...-got-rich.html

"Further, a second study by Fidelity Investments found that 88% of all millionaires are self-made, meaning they did not inherit their wealth.

The Fidelity study also revealed that self-made millionaires' top sources of assets were investments/capital appreciation, compensation and employee stock options/profit sharing. [...]

For self-made millionaires, though, coming into wealth isn't always a simple process – many of them worked hard to achieve the financial success they did, and then had the smarts and savvy and put their new wealth in the right places."

It is primarily some combination of a working, investments, and the acquisition of appreciable assets. If you work a middle of the road job for 40 years and max out your investments and 401K, you can easily become a millionaire.

My parents would technically be "self-made millionaires," but they are in their 60s and have a house, 401k, and other assets. None of it is really that liquidable and it must last them 40 more years. My dad's most luxurious purchase recently was a base modal Toyota Venza.

If you are literally looking at a net worth of more than $1M, as you said, a ton of (especially older) people that are middle/upper middle class home owners will break that threshold. I’m not sure what the Fidelity study set as requirements. Earlier in the article they mention a net worth of $30M and 68% of those being “self made”. Pretty big difference between being your 60 year old parents worth over $1M and a $30M net worth. I wouldn’t argue that generational wealth is a requirement to be a millionaire at 60. Heck, if you purchased a single family home in 1990 in San Fran, you are surely a millionaire just by home value (not that it is liquid… but per the technical definition).

TLDR: Ultra wealth comes with a lot of luck and starting point advantages. It isn’t out of the realm of possibility to grind your way to “millionaire” in the technical sense. Just making that threshold means you are comfortable but still working.

LOL, what a tangent we’re all on.

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[bcj]

Uh, how many zillionaries own a zenki compared to people living in mom's basement who are making payments on a kouki.

Can't find the stats ...

[Ernest72]

We need to change the way we think about these things. Too focused on money. For example I watch a lot of YouTube channels related to my hobbies. Barely watch TV anymore. The channels I love the most are where people are working on their cars that they just love. Trying to improve them and make then their own. This passion and feeling of accomplishment is so much better then the myriad of channels that get a new supercar every week. I am really not impressed because they could really care less about the cars, they just need vids. And it’s not just the built not bought thinking. I don’t care if you don’t have the skill and need to buy services. It’s the passion and vision that I relate to. Basically what I get from the channels are that all these supercars are the basically the same. Seems boring to me, just another shiny object to impress someone.

[Th3rdSun]

Originally Posted by Ernest72

We need to change the way we think about these things. Too focused on money.

Who's "we"? I like watching Doug DeMuro just as much as I like watching Scotty Kilmer,just as much as I like watching ThrottleHouse,or Everyday Driver,or Donut Media. It's all just content,and there's something for everyone.



If you like just tinkering and watching channels like Cleatus MacFarlane,that doesn't invalidate the channels like ThatDudeInBlue or Shmee 150 just because you don't like their channels.I don't care for their content,but obviously there are a ton of people that do,as they have pretty big Youtube channels.



Different strokes for different folks.

[Ernest72]

Originally Posted by Th3rdSun

Who's "we"? I like watching Doug DeMuro just as much as I like watching Scotty Kilmer,just as much as I like watching ThrottleHouse,or Everyday Driver,or Donut Media. It's all just content,and there's something for everyone.



If you like just tinkering and watching channels like Cleatus MacFarlane,that doesn't invalidate the channels like ThatDudeInBlue or Shmee 150 just because you don't like their channels.I don't care for their content,but obviously there are a ton of people that do,as they have pretty big


Different strokes for different folks.

Not trying to censor anything, glad the content is out there. I think we (me and you) can agree that we (society) over emphasize wealth as a measure of success or happiness. When pretty much every study shows it is not.

Many people just want to be rich, thinking it will solve all their problems. This is known to be untrue just look at lotto winners, usually makes life worse or no better.

Those that are happiest are those that chose to do something, accomplish something and that something just happened to make them rich. And in many instances they did not a get rich but lead a good life.

When a teacher asks a kid what they want to be when they grow up, the answer should be “happy”. And that could be doing anything under the sun, different for different people.

Is getting a new supercar every week really original content. They literally pass around the same cars in some cases. It’s not much different than Instagram chicks renting a yacht for 2 hours to create their fake lives. Yes it’s content and is perfectly legal so I have no issue with it being out there by any means. The number of subscribers is just a reflection of how we (society) are a bit out of whack.

But we are way off topic for this thread.

[alex87f]

... which is a nice transition into answering this thread:

Any good reason to stick with 1st Gen? -> Because you're happy with it

[BrahmaBull1990]

Originally Posted by alex87f

... which is a nice transition into answering this thread:

Any good reason to stick with 1st Gen? -> Because you're happy with it

Hahahaha just thinking this and scrolling till the topic came back