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Hey! What’s goin’ on?
I’m still on vacation in Japan right now and I’ve been doing a lot of thinking about other ways to buy and sell cars. There’s just so much opportunity out there. Another thing that I’m really getting into now is, how to preserve and build your wealth or your retirement by using collectible cars as a vehicle. I know that’s kind of cliche but using collector cars as a vehicle to hold and increase your net worth over time.
Think of Jay Leno. He’s a super car fan, right? Look at his warehouse, I’m not sure how many cars he has, he probably has at least a hundred different kinds of collector cars and the reason why he’s doing that is to preserve some of his wealth, diversify his wealth and put money in physical items, in tangible assets that he can sell off. That’s basically money in the bank, if you have that much money to invest in. Here’s an article where Jay predicts future collectible and classic cars: https://www.popularmechanics.com/cars/jay-leno/4312877
And you have to do your research. Make sure that you get a collector car that’s going to increase, you know, matching numbers, original color, original condition. When you’re buying these things, you have to make sure you’re buying the correct collector or addition. So when you go to resell it later, you’re going to make some money on it.
Another reason to build up your net worth is for your family. Let’s say, you have 15 cars that you saved up for over your lifetime, you die at 75 years old, your family – your kids, your wife could start selling off these collector cars. Of course, before you die, you should have a record of the price values of these cars, all the info that you can pass along to your family so they can take that information and use so they cannot get scammed and sell at a lower price than what you actually paid for. So you would do stuff like that or if you live to be an old man and you end up needing some money to get by, you can start selling your cars off each year for your retirement.
I’m in that stage right now, transitioning towards being more of an investor than working for money. But we have to start off somewhere. You have to work for money. So the cool thing is, you can buy and sell a car over a weekend and profit a couple of thousand dollars (if you know what you’re doing) and it’ll be easy to do. Then, you can start saving that money and re-invest it to other businesses, opportunities, and investments to start growing your wealth because, whether you know it or not, 20 or 30 years down the road, the time is really going to come. What you do and what you think about daily is what’s going to result in your life 20 or 30 years from now.
So think about what you want to do for your retirement and you have to start planning now, today. You have to start right now! Even if you’re still 20, you have a headstart. I wish I started thinking like this when I was 20 but I didn’t. I started thinking about this stuff a few years ago. It’s not yet late and it’s a good thing that I’m making a good amount of money through my different various businesses and investments right now but I’m doing a lot of research and I’ll put together a book soon on How To Build Wealth By Buying and Selling Cars. Let me know if you like that idea. If you do, let me know in the comments below.
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I can’t wait to get started with you and help you make some extra money by buying and selling cars for profit.
Happy new year, every one! Happy 2015! Let’s make it the best year ever. I know I will so I’ll see you on board.
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