5 Reasons You SHOULD NOT Buy a Lamborghini

Have you ever dreamed of buying an Italian super car like the Lamborghini? I'll explain to you here why that won't be a good financial idea just yet. Enjoy!

Breakdown:

1. You Can't Afford it

99.999% of the population can not afford a Lamborghini (from the huracan to the aventador) so don't feel bad about that!

2. You haven't properly invested your money yet

Before you buy any luxuries, it would be best for you to pay for these luxuries using the income coming from income producing assets. Assets such as stock portfolios or rental properties will all produce income which will pay for your dream lifestyle.

3. It doesn't fit your budget

A super car like the lambo should not take up more than 5% of your monthly income. The monthly payment for these kinds of cars is anywhere from 2 - 5 thousand dollars (not including the down payment) and for most people, that's WAY above 5% of their income.

4. It puts too much HEAT on you

Owning a Lamborghini puts a lot of heat on you. People will take pictures of you, ask what you do for a living, and envy you. It's better to avoid having people think you're richer than you are and stay low.

5. It ruins your reward system

You can't just go from a Honda Accord to a Lamborghini! You haven't experienced all the wonderful cars in between. But more than that, you should match your level of accomplishments with the level of your reward, so if you feel you truly deserve a lamborghini as your next car, go ahead and buy it for yourself!

When should you buy a Lamborghini?

When you've reached a point where around 20-40% of your asset income can pay for the Lamborghini, you could go ahead and get one. However, I always do suggest reinvesting all of your investment income in order to further increase the cash flow!

Disclaimer: I am not a financial expert or advisor. Please take any advice given in my videos with your own personal consideration. I do not guarantee any sort of results as this will vary from person to person.

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