I'm all about the inner happiness and freedom, but I'm a car nut, always have been, and I buy the cars for ME. Not to show off to the neighborhood or anyone else; I just truly enjoy driving. If showing off was the motive, I would've bought a Ferrari instead of a Porsche (a used Ferrari costs about the same). After a long day, taking a 500+ HP car out for a spin is a stress relief and makes the day's effort worthwhile. You have to reward yourself. What use is the cash if you make 6-7 figures and troll around in a Camry just like the guy who makes 30k a year? Gotta live it up a little!
For me it would be upgrading from Jeffrey West shoes (£230) to Berluti (£650 upwards). Went to their Mayfair store, its really nice and they have a back room cigar and whisky lounge. Anyways Jeffrey West seems to be doing the trick with young (17-22) females, so might not need Berluti http://www.jeffery-west.co.uk/jefferywest/collection.asp?collection=Main_Line_160
BRAVO, STAR! Living below one's means is the foundation of sustainable living (whether or not one's a trader).
My Mentor is very wealthy and drives a Honda Accord. He always taught me that its not how much you make its how high you can stack it. I have friends that make 250k a year and live pay check to pay check and on the flip side of that...I have friends that make 50k a year and make it look like they make 85k or 90k a year. As far as your porsche...poor choice in car. My M6 is a better choice.
If you ever want to go to the track let me know. Considering with a few modifications I have over 625 HP.
Depends on the state. In quite a few states 16 is legal: http://www.ageofconsent.com/ageofconsent.htm
I don't wear no stinkin' watch. I don't even got no stinkin' cell phone. I don't got no fancy ride. I don't got no home that is out of proportion to the lot. My home is dwarfed by 100 year old oaks. It is on a large enough lot, I am not sure if the neighbors lights are on at night or if their cars are in their drive. Everything I got is understated. My greatest luxury is the domestic help that I hire, but unlike most of the sleazebag scumsucking political class, my domestic help is legal, and they ARE reported when I file with Uncle Sam. I am able to live the life my parents and my grandparents could never have dreamed of living. But unlike numbnuts such as Plaxico Burress, I am not compelled to display my good fortune to strangers, and therefore I do not have to take risks that would endanger it all to protect the wealth that I have been fortunate enough to accumulate. The risks I routinely take daily as a trader is enough vicarious adventure for me. The good life has it pleasures and its satisfactions without the ostentatious flash and bling that the asshole media associates with good fortune.
I could be wrong, but improvement in trading for me was an awarness of price. Price is everything. The idea being that I won't enter unless I get the price I want. The only times I loose money (significantly) are on implusive moves, usually due to an entry outside of my desired price. The biggest paydays come when I get an unexpected price but had a bid/ask out there nonetheless. The point is this... once you realize that price is everything; that stocks (cars, suits, watches etc) are at some point too expensive (and at some point have good value) you start to look at things around you differently. ie I could draw a daily chart of the price of gasoline for the last several weeks for all the stations around town because I've been watching the price with a new awareness for what is value and what is too expensive. I know this is a trivial ex. but I'm just making a point. I find I do this for everything... grocery's, cars... you name it. I don't think I would ever withhold a luxury but I know I would be much more aware of what I was getting and at what price. B