I always loved cars as a kid. So much so that at the bright age of 17 I enrolled in school as a mechanical engineer, before quickly figuring out that there were a number of things you had to learn to get an engineering degree that I had zero interest in. Statics, linear algebra, engineering chemistry…are just a few of the things I decided I had no interest in pursuing. While I originally thought that I wanted to design and be involved in the car manufacturing process, really all I wanted to do was drive cars. This coincided with my first summer trading stocks for my personal account, where (through dumb luck) I was able to make 20% in the span of about a month. Ultimately this helped me decide to switch to a degree in economics, and shifted my focus to getting a job in the world of finance.
I was lucky enough to get internships both my sophomore and junior years, which were widely believed to be necessary in order to secure a full time job at graduation. I received offers from two investment banks, and ended up taking a position as a foreign exchange trader. When they sent over the contract and I saw that my salary alone was nearly $90k a year, I quickly started dreaming about all the things I’d be able to buy once my student loans were paid off.
My dream car was the Maserati GranTurismo. First off – well look at the thing. I’d never seen a car that sexy before and it was about as close to love at first sight as I’d ever get (that’s including a brief crush on Jessica Alba back in the 11th grade after watching Into the Blue.) If looks weren’t enough, you could hear the car roar from nearly a mile away, with a Ferrari-built engine that made sure to let everyone know you were coming. After looking at that contract I decided that this was the car for me by the time I turned 25.
Now unfortunately I never bought the Maserati. I didn’t even buy a car until I turned 27 and ended up with a much more economical 4 door BMW. Where did I go wrong? Well I grew up a little bit, and realized that I should really put all those savings of mine to work. So – I bought an apartment, rented it out, and have earned roughly 7% in cash flow since buying the property in 2012.
I haven’t fully given up on my dream of owning the GranTurismo or an equally beautiful car someday. But for now I have a new dream. Financial independence. Not working for the man. Deciding my own hours. While I’m certainly not there yet, I’m happy to put in more time working hard and building my passive income stream to the point where I no longer have to work anymore. At that point it’s up to me to work an extra year to buy a Maserati or a Porsche or whatever I want at that point in time!