My banged-up Renault 5 GT Turbo in the ‘90s.
Sometimes when I post something and I advise people not to go and get into debt buying supercars, people reply back with things like “yeah but you gotta’ live too bruv!”
I have been working with young people for over 20 years. In the beginning I used to just offer my advice here and there and then later when I gave more time to serious mentoring, I would structure things for them so they make a lot of money.
At the cornerstone of my advice is for you not to get into debt and buy supercars as soon as you get some money. Any supercar I bought in my twenties was always cash and always after I had spent at least 10x the amount in property.
So, 20 years later, there are quite a few now older people that have some nice properties under their belt and many of them also did get their dream supercar though many more actually don’t care for supercars and keep reinvesting their earnings into property.
My point is that not even ONE person has ever come back and told me they regret the path they took with investing in property from a young age.
If you are in your 30s and you have several properties, money coming in and you are pretty much set for life, it is very unlikely you are going to be gutted about not having had a supercar on loan in your twenties. There is every possibility that investing the little money you have made into a deposit for a supercar is a great heart decision but for many, a bad life choice.
There are many ways for you as a young person to buy a property even with very little money. You need to explore these and try and get yourself on the property ladder. Life is uncertain and in these days, even more so. The world is changing. Being young in 2020 is nothing like being young when I was growing up. People have much more anxiety, outside interference and uncertainty. As a young person in 2020, you need to be a lot wiser than a young person in the 1990s.
Social media and so many pressures mean you need to mature a lot faster in this day and age. Just my opinion.