What do you think about going the "classic car" route? No matter how you slice it, we're all pouring $ down a hole with anything newish, and we're smart money guys, right? I'm seriously considering going the '85 Buick GS/'74 Dart GTS/'85 Mustang GT route. Already bounced off the bottom of the depreciation ride, unique, not 'over the top,' and probably going up in value each year. How's that for a 'non correlated asset' play? How often do we get to ride around on a Saturday in our Russell shares?
I always think Audi, Volvo and Acura’s are nice choices. They’re not over the top, generally won’t turn people off, but they’re real nice rides and good family cars. I think you run into problems with Porsche, Mercedes, some BMW’s, and even Lexus. For some reason, certain names evoke a certain “image”. You can buy an average used Mercedes for 20K, and people will think you’re some kind of over-paid pimp. You get a down market and clients are saying "well, someone’s gott pay for the Lexus (Mercedes, Beemer, etc.). Most people don’t think about the fact that a Volvo SUV is like 50K, and a lot of people drive 20K Beemers. But people will notice your Beemer. It’s an image thing. It also works the other way. If you live in Greenwhich, CT or Manhattan, and can’t afford a lot, you’re much better off buying a 20K used Mercedes than a 20K new Honda (if you’re image conscious).
I have 2002 BMW 330, but I bought mine earlier this year. And any time clients bring up the fact that I drive a BMW(normally only first time as a joke)… I mention that I paid under $10K for it because I am cheap…(BTW still have the first car I bought(the bmw was the second) a 99 Pontiac Firebird(Auto,no power locks or windows) yeah i didn’t know what i was doing… But my accountant said if I kept it, I would be less likely to get audited for writing off my car, when I have a spare in the garage…
I think a older mercedes/bmw would be cool, like 60-80s and you probably wouldn’t get much crap from people…
BMW’s have little timers in all their little parts that know when it is out of warranty. My friends still laugh about my BMW woes. I say look at what your client’s drive (those which are not showy) and get something in that range. One of my clients marveled how his neighbor’s house was being foreclosed upon with a new Audi and BMW in the driveway.
For work, i consider the suit a uniform. almost always to Jos A Bank on the net (although i use my local tailor). Very happy w/them
Try sierratradingpost.com They started in the 80’s as a seller of seconds in backpacking equipment. Past 10-12 years they have really branched out, including mens suits. Prices are good to incredible and they stand behind eveything 100%. If for any reason you don’t like it, return it, Even if you’ve used it. You would have to know size in each company they offer. But, go down to a larger retailer and try some of everybody’s on like I did. Take notes and go to the site. They have womens as well and about 10 years ago I bought a special lady a high end cashmere coat. About $700 or less for a $2000 coat. She worked in fashion sales and knew it was the real deal. By the way, of all the "second"s I’ve bought there I’ve never been able to find a flaw except for once. Sent it back and complained. Got a small gift cert in reply and no hassle return. Stay with name brands though.
I hope she thanked you appropriately.
about 10 years ago I bought a special lady a high end cashmere coat. About $700 or less for a $2000 coat. She worked in fashion sales and knew it was the real deal.