skonopa Posted December 30, 2002 Share Posted December 30, 2002 This is interesting. One of my christmas presents is the book "Your Guide to Understanding Investing" which is put out by Edward Jones investment firm. My mother is training to be an investment/finiancial planner for Edward Jones. The book is literally packed with all kinds of investment advice. It'll take a little time for me to read through it and understand it all. As for the audio stuff, I also think it would be a complete waste to spend that kind of money on audio gear that soon. Yes, it would be nice to have it before having to pay for a house and all that. Unfortunatly, in the "real" world, it does not always work out that way. You are still young. There will be plenty of time to enjoy audio stuff later. I wanted to get the car and the house and all that before I spent money on audio. Just this past spring, (at the age of 32) I finally am financially stable enough that I was able to sink the kind of money that I did into my audio system. My student loans are nearly paid off (less than $1000), I have no credit card debt. I am double paying on my car loan (and also have a truck completely paid off) and I am sticking money away in both saving bonds, savings account, 401(k) plans, pension plans, stock portfolio and such. I am about to refinance my house so I can do about $36,000 worth of upgrades to my house (new garage, new roof, new windows, paved drivway, and so forth - estimated that these upgrades will easily add over $50,000 to the total worth of the house, plus it'll make the house virtually maintenance free). That whole process will begin after the beginning of the new year. I am going to re-assess my whole finanacial picture sometime later this spring and adjust my investments accordingly - especially after spending some time studying that investment book I got for christmas. That may truly be the gift that'll keep on giving . Quote Link to comment Share on other sites More sharing options...
ricktate Posted December 30, 2002 Share Posted December 30, 2002 dont do it man,,,,,they may cost 8000.00 but only cost 2000.00 to make...in 20 years they will be trash...and then you will wish you had half of that 8000.00 to spend on new hi tech stuff,,,,,just ask the guys who bought 2000.00 dollar cd players in 1983...lol...i laugh every time i see a cd player hanging at check out at wal-mart..those are 100 times better than those cd players from 1983 and cost 50.00 bucks.those 1983 cd players skipped if you looked at them wrong now you can jog with them even drop them and they dont skip.just a little advice...i have seen my 401k get cut by 70% and i wish i had some of that money i spent so foolishly when i was 18...live and learn but dont say we didnt tell you so....rick Quote Link to comment Share on other sites More sharing options...
prodj101 Posted December 30, 2002 Author Share Posted December 30, 2002 I'm not getting them for glitter, I've used them and they sound awsome. I don't want RF-7's because they're just not good enough over what I already have to make them worth spending 1,500 dollars on. I wanna just get these, and not have to worry about speakers for a long time. And I don't remember saying a word about bringing these to college with me. In fact I'm pretty sure I said I wasn't going to. And besides, I only have like 500 dollars! I don't have 8 grand and ready to just go buy them today. Quote Link to comment Share on other sites More sharing options...
HDBRbuilder Posted December 30, 2002 Share Posted December 30, 2002 Prodj, Why even ask us on the forum for some advice if all you want to do when we give it is argue? It is clear you have already made up your mind, so any further comments by any of us as far as advice goes is an excercise in futility...and a waste of our time...YET AGAIN! Quote Link to comment Share on other sites More sharing options...
JasN00b Posted December 30, 2002 Share Posted December 30, 2002 i mean if you really really want these things, nobody can stop you from gettin' them. we're not trying to come down on your or yell at you or anything its just advice but the bottom line, is even if justin has 60k in cars, i bet his family is richer than yours(not meant to be an insult) and he IS what... 19? your only 14 man! live it up! got a girlfriend yet? your gonna need money for movies, and mabey two gifts a year for her... then when your 16 you'll need gas money, mabey even car money... just... dedicate your time to your studies and music, get into a good college, get a good job, and then you will be able to afford 8k speakers before you know it! then you'll really be able to enjoy them! ultimatly its your decision, its up to you, but please consider whats said here Quote Link to comment Share on other sites More sharing options...
rjb294 Posted December 30, 2002 Share Posted December 30, 2002 Well put Jas..... Quote Link to comment Share on other sites More sharing options...
cluless Posted December 30, 2002 Share Posted December 30, 2002 The first step to saving money is NOT SPENDING IT. I can't ever get beyond that point so I can't offer any further advice on that. At 14 you are going to be hard pressed to get a job that pays much of anything. Is it even legal for you to work? It looks to me like you will have plenty of time while saving to decide if that is how you really want to spend your money. So my take is....start saving! How you spend it is moot until you get it. Quote Link to comment Share on other sites More sharing options...
fini Posted December 30, 2002 Share Posted December 30, 2002 I whole-heartedly agree. One of the best things a young person can do is open an IRA, and contribute to it regularly. It's natural to think you'll live a long, productive life, and as such, will be able to "make it up, " and, in fact, that may be somewhat true. But starting to save now would be a VERY smart head-start to financial security. Check out ROTH IRA's. You can take out the profit, TAX-FREE, after only 5 years with no penalty (although it's meant to stay there til retirement). Uncle fini Quote Link to comment Share on other sites More sharing options...
prodj101 Posted December 30, 2002 Author Share Posted December 30, 2002 well, made a trip to the bank today. put 400 bucks in my account so I'm up to about 1,050 or so. and no, I'm not trying to argue with you. The topic was about techniques that work well for saving money, not, should I buy these speakers or not.for a job I wash laundry for my dads company. all of his workers are required to wear uniforms, and those uniforms have to be washed, so I get to do them on the weekends or during break. and yes jasnoob, I have had girlfriends before . not a ton of money though, not at my age anyway. but anyway. I guess now I'm a 8th, or 7th actually of the way towards audio bliss. Quote Link to comment Share on other sites More sharing options...
sj993 Posted December 30, 2002 Share Posted December 30, 2002 Just maintain that philosophy, conserve, and you'll get there someday... Quote Link to comment Share on other sites More sharing options...
justin_tx_16 Posted December 30, 2002 Share Posted December 30, 2002 ---------------- On 12/30/2002 5:11:35 PM prodj101 wrote: I guess now I'm a 8th, or 7th actually of the way towards audio bliss. ---------------- What is your definition of Audio Bliss? To you it costs $8,000 for speakers plus at LEAST $2000 for a suitable amp plus at least $600 for a suitable HDCD/CD player and the same for a DVD/DVD-A Player. Then you may need a preamp, add another $800 at the least. 8000 2000 0600 0600 0800 ------ 12,000 Could be as low as $9,000 or 10,000, but if you want hi-fi (high $$$) "Audio Bliss" it normally runs higher. Don't forget interconnects. So in the end "Audio Bliss" will cost you $12,000 unless you are given the <DVD/CD/HDCD/DVD-A/Amp/PreAmp>'s. For me, "Audio Bliss" cost $850. HD600's - $250. Amp - $250. CD Player - $200. Cardas - $150. For me, "Audio Bliss" cost $900. Heresy's - $300. Amp - $100. CD Player - $200. DIYSub - $250. For me, "Audio Bliss" cost the two above mixed together used simultaneously. $550 for speaker/headphone. $200 for source. $100 for amp for both headphones and speakers. $150 for the Cardas. $250 for the sub. $1250 brings me more joy than I can take for too long of a period of time. My $100 amp just about replaces my headphone amp. I could easily afford something more. If I went crazy, right now I could spend the money I have saved up in my savings account and CD's and buy a pair of new Klipsch Horns, a $1000 tube amp, a $1000 cd/hdcd player, a Dual SVS CS-Ultra, $500 speaker cable for 4 meters, a $600 TT, and $300 in interconnects and still have money to burn on bull$hit cable lifters, amp stabilizers and this and that. But to do that would be stupid. When I graduated from college all I would have would be the money from my grandmother which I cannot tought till I am 25. She setup a USAA Investment account for me, a really wonderful deal. But because I have been diligent and saved this money, I will have enough to put down a a nice sized down payment on a house or apartment and not have to worry about money problems. The recent crisis in my neck of the woods, Houston (ENRON for example), has just furthered my discipline. These are not times to squander money. I know of many people who have so little and are more happy to have what they do than some of my friends who take what they have for granted. Such as my cousin. He grew up with a father who was VP of Compaq Computers since nearly its inception, left Texas Instruments as a VP to join Compaq as it was a startup. He lived in a lifestyle many dream of. Till his father had an affair and his parents divorced. Compaq's stock dropped drastically so his mother got 60% of what was only worth 10% max of what it used to be. She would have left with well over $2,000,000+ but times changed, dramatically and with a blink of the eye. Four months later his dad is back in gear making an easy nearly 7 figure income. But his mother gets no reaping from this "new" wealth. So they were forced to move out of their 1.5 million dollar estate and off to Rockport Texas, aka the Armpit of the South. She lives in a 4 bedroom one story house, going back to college to become a nurse so she can put her kids (3) through college. Yes, this time 1.5+ years ago she could have bought a Rolse Royce, now she has to budget dinner to make sure there will be enough for tomorrow. She went from a 1,500,000 house to a $60,000 house. She went from having a maid and nanny to being alone. Just because you have it today, does not mean you will have it tomorrow. Not trying to be preachy or anything. Just keep these things in mind. We are both young and learning! Ray Garrison and HornED could spend days teaching us how to handle our money and it would be just the tip of the ice berge. I think the problem here was you were expecting people to react like this. Great! You will love those speakers. You should check out such and such for your amp, under rated but out perform my Adcom 2 fold. Also, go to www.cheaphificables.com and you can get these $1200 cables for only $300 because they have clones. Take pictures! You will be the envy of everyone within hearing distance... Heck, when I was shot down about getting a big stereo system for college, I admittably was nearly angry with the responces. But you know, they were all 100% right. Quote Link to comment Share on other sites More sharing options...
prodj101 Posted December 30, 2002 Author Share Posted December 30, 2002 not trying to be picky, but the only thing I would have to worry about is an amp. I have a $1,000 SACD/DVD player, B&K preamp, and RSW-15. the Mcintosh amp might even be enough, I don't know. i have found these speakers for around six grand> by the way< how do you get rid of these damn filter keys? even if i say cancel< they still come on and i just wanna get rid of them completely> Quote Link to comment Share on other sites More sharing options...
justin_tx_16 Posted December 30, 2002 Share Posted December 30, 2002 filter keys? please elaborate. well then you are good to go on that part, but even still, $8000 is more than what I personally would spend. But that will just be MHO. Quote Link to comment Share on other sites More sharing options...
mkl Posted December 30, 2002 Share Posted December 30, 2002 Looks like most people are of the "save for a rainy day" attitude. Not me, screw it, spend it while you can! (Disclaimer: I take this attitude as long as I never have to support you through any sort of government programs later in life.) As for tips for saving, it's not hard. Take X % of your income every pay period and put it in an account you will not touch. Don't mingle it with the account you use, it's too easy to take "just a little " out when you want something else. This way you know the least amount of pay periods it will take to get the amount you need. If some months you can put more in, you can accelerate it! My second piece of advice is, when you have the full amount don't spend it immediantly, look around and see what else you could get for 8,000$ , and make sure it's worth it, and that you don't think you shouldn't just keep saving so you can get the 20,000$ speakers in a few more years! -mkl Quote Link to comment Share on other sites More sharing options...
JasN00b Posted December 30, 2002 Share Posted December 30, 2002 i wish i was rich Quote Link to comment Share on other sites More sharing options...
prodj101 Posted December 30, 2002 Author Share Posted December 30, 2002 hehe, only a couple more years Quote Link to comment Share on other sites More sharing options...
michael hurd Posted December 30, 2002 Share Posted December 30, 2002 Proj101: $8,000 is not just $8,000. It is actually over $ 12,000 in before tax dollars. Even if you earned $10.00/hr multiplied by the average 2200 hr work year, that would be $22,000 before taxes for the whole year. By the time that you pay the income taxes, you might have $15,000 left. Now take the retail sales taxes you will be paying on $8,000. Deduct this from the $15,000 you take home. You would have to save for an entire year to be able to buy them, without buying clothes, cd's, power amps, or any other toys, etc. On the other hand, if you invested this in a bond, or gic and at the end of ten years, you may very well have 40-50,000 versus a pair of speakers that won't be worth much then. Quote Link to comment Share on other sites More sharing options...
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