How can I make enough money to buy a Lamborghini?

So if you’re making $50,000 a year, you buy a car that’s less than $25,000. However, since cars are a depreciating asset, the less you pay for a car, the better. But based on the less-than-half-your-salary rule, to buy a Lamborghini (without all the bells and whistles) you need to be making… $480,000 a year.

How much do I need to afford a supercar?

Shop within your budget You may be able to find a supercar in good condition in the $20,000 range, but it will take time. $30,000 – $50,000 is a more realistic price for a decent supercar with lower miles. You’re likely to find a Porsche 911, a Viper, or maybe even a Ferrari 348 or 355 from the 90s in that price range.

What is the most financially smart way to buy a car?

Here’s how to buy a car without getting over your head in debt or paying more than you have to.

• Get preapproved for a loan before you set foot in a dealer’s lot.
• Keep it simple at the dealership.
• Don’t buy any add-ons at the dealership.
• Beware longer-term six- or seven-year car loans.
• Don’t buy too much car.

What car should I invest in now?

Best investment cars

• Volkswagen Golf GTI Clubsport Edition 40.
• Audi A2.
• Mazda MX-5 NA/Mk1.
• Toyota Celica GT-Four.
• McLaren 675LT.

What are mutmutual funds and should you invest?

Mutual funds pool money from many investors to buy broad selections of stocks, bonds and other assets. There are thousands of mutual funds available that pursue a very wide variety of different investing strategies. This can make understanding the space challenging for new mutual fund investors.

Should you buy a mutual fund before it makes a distribution?

Most people look at it as free money and assume you get to collect income from the fund immediately after buying. Unfortunately, it doesn’t work that way. In fact, using a taxable account to buy a fund before it makes a distribution can actually cost you money. Mutual funds pay distributions through dividends or capital gains.

How to invest in mutual funds?

How to Invest in Mutual Funds. Step 1: Choose Between Passive & Active Management. Determine whether an active or passive fund is best for you. Actively managed funds are managed by Step 2: Research Past Results and Evaluate Managers. Step 3: Decide Your Budget. Step 4: Choose Where to Buy

What are the best growth mutual funds to consider?

Growth mutual funds to consider include the Vanguard Growth Index Fund ( VIGAX) and Fidelity Growth Discovery Fund ( FDSVX ). Mid-term goals. If investing heavily in stocks makes you nervous or you have a goal that’s within five to 10 years away, you may want an approach that reduces the potential for rapid changes in investment value.