[White08M3]

Originally Posted by mayno

my bad...that was a bad copy/paste. he only has 1 Evo.

Look, to all you non-believers, you obviously don't know how much faciomaxillary surgeon's make. look it up if you don't know. also, i have no reason to BS. I have a lot of very well educated friends many went to Ivy league colleges...I decided to save money and go to a public college (UCLA). I could've went to Stanford (a non-Ivy school but still a top tier school) but didn't. Anyway, enough about me...my buddy went to UCI and then got his DDS, MD and surgical training at UNC at Chapel Hill and also did his residency there.

This is what he does for a living (note that the top procedure is cosmetic/plastic surgery for head and neck...in addition to all of the other very tough procedures):

http://en.wikipedia.org/wiki/Oral_an...facial_surgery


Surgical Procedures

Treatments may be performed on the craniomaxillofacial complex: mouth, jaws, neck, face, skull, and include:

* Cosmetic surgery limited to the head and neck (rhytidectomy/facelift, blepharoplasty, otoplasty, rhinoplasty, genioplasty, etc.)
* Dentoalveolar surgery (surgery to remove impacted teeth, difficult tooth extractions, extractions on medically compromised patients, bone grafting or preprosthetic surgery to provide better anatomy for the placement of implants, dentures, or other dental prostheses)
* Diagnosis and treatment of benign pathology (cysts, tumors etc.)
* Diagnosis and treatment (ablative and reconstructive surgery, microsurgery) of malignant pathology (oral & head and neck cancer).
* Diagnosis and treatment of cutaneous malignancy (skin cancer), lip reconstruction
* Diagnosis and treatment of congenital craniofacial malformations such as cleft lip and palate and cranial vault malformations such as craniosynostosis, (craniofacial surgery)
* Diagnosis and treatment of chronic facial pain disorders
* Diagnosis and treatment of temporomandibular joint (TMJ) disorders
* Diagnosis and treatment of dysgnathia (incorrect bite), and orthognathic (literally "straight bite") reconstructive surgery, orthognathic surgery, maxillomandibular advancement, surgical correction of correction of facial asymmetry.
* Diagnosis and treatment of soft and hard tissue trauma of the oral and maxillofacial region (jaw fractures, cheek bone fractures, nasal fractures, LeFort fracture, skull fractures and eye socket fractures.
* Splint and surgical treatment of sleep apnea, maxillomandibular advancement, genioplasty (in conjunction with sleep labs or physicians)
* Surgery to insert osseointegrated (bone fused) dental implants and Maxillofacial implants for attaching craniofacial prostheses and bone anchored hearing aids.

Lastly, here's screen shot of his Flickr page...I'm not going to provide a link to his page for privacy reasons. And if you still don't believe it, I feel REALLY SORRY for you!

Theres nothing private about Flickr....the whole world can see it if they just on yahoo or google. lol

[mayno]

Originally Posted by phantom330

that was basically my point. Unless this guy is either a HUGE surgeon or has a big family trust or lottery winnings I'm just gonna have to call BS, no offense to OP and if I'm wrong my bad, but that is a little extensive of a collection. How old is this guy?

if Richard Branson were into cars, he'd have 10X more than my friend does. look at Jay Leno's collection and he's not even nearly as rich as Branson is.

He's late 30's. Don't need to be a HUGE surgeon...just have to be a good one and the business will come.

[mayno]

Originally Posted by White08M3

Theres nothing private about Flickr....the whole world can see it if they just on yahoo or google. lol

ummm...you obviously don't know the way flickr works. there's a privacy setting that you can enable for your photo sets. those are not indexed by G or Y!.

[phantom330]

Originally Posted by mayno

if Richard Branson were into cars, he'd have 10X more than my friend does. look at Jay Leno's collection and he's not even nearly as rich as Branson is.

He's late 30's. Don't need to be a HUGE surgeon...just have to be a good one and the business will come.

Late 30's and having that many cars is HUGE. Most rich people have a normal car and then a Lambo or something for the weekends. Don't worry, I believe you, still think this post sucks though.

[mayno]

Originally Posted by phantom330

Late 30's and having that many cars is HUGE. Most rich people have a normal car and then a Lambo or something for the weekends. Don't worry, I believe you, still think this post sucks though.

hmmm...why does it suck? isn't this an off-topic forum OR is it because he doesn't behave like "most" rich people. come on, that's ridiculous. i'm merely sharing a story I thought was worth sharing...this is a car forum after all, right?!

[phantom330]

Originally Posted by mayno

hmmm...why does it suck? isn't this an off-topic forum OR is it because he doesn't behave like "most" rich people. come on, that's ridiculous. i'm merely sharing a story I thought was worth sharing...this is a car forum after all, right?!

It is, but I can post a list of cars my "friend" has and then show some random pictures with them taken in different locations. It's just kind of pointless without pics.

[mayno]

Originally Posted by phantom330

It is, but I can post a list of cars my "friend" has and then show some random pictures with them taken in different locations. It's just kind of pointless without pics.

I did post a pic of his page that shows his car...i'm not gonna take the time to screen shot every car.

show "random pics with them taken at different locations" - obviously, you don't believe me...and frankly, I could really care less. you're either overly envious (aka jealous) and/or simply think that people aren't capable of posting an honest story. these are his cars, and if you don't believe it...that's your problem. not mine.

[phantom330]

Originally Posted by mayno

I did post a pic of his page that shows his car...i'm not gonna take the time to screen shot every car.

show "random pics with them taken at different locations" - obviously, you don't believe me...and frankly, I could really care less. you're either overly envious (aka jealous) and/or simply think that people aren't capable of posting an honest story. these are his cars, and if you don't believe it...that's your problem. not mine.

I would definitely envy somebody with all those cars, you're right.......I give the guy credit if he did all that and those are all actually his. Your post still is pointless, sorry. Have a good one.

[mayno]

Originally Posted by phantom330

I would definitely envy somebody with all those cars, you're right.......I give the guy credit if he did all that and those are all actually his. Your post still is pointless, sorry. Have a good one.

you're right...it is pointless. it provides a short story with a simple plot and an image with all of his cars....yup, totally pointless. i guess 99.9% of all posts are pointless then.

[EOE90]

fineeee to settle things, get a pic with a green plush dinosaur mounted on everysingle car

[phantom330]

Originally Posted by EOE90

fineeee to settle things, get a pic with a green plush dinosaur mounted on everysingle car

[jaiman]

Originally Posted by mayno

my bad...that was a bad copy/paste. he only has 1 Evo.

Look, to all you non-believers, you obviously don't know how much faciomaxillary surgeon's make. look it up if you don't know. [/COLOR]

Hmmmm, I can't find faciomaxillary surgeon's on salary.com, but plastic surgeon in 90210 shows a 90th percentile at 530k. So based on that it would be hard to believe the guy owning $1m in cars.

[jaiman]

Originally Posted by mayno

hmmm...how many people do you know pay off the entire car at the time of purchase (i.e. no monthly payments)? duh.

you can't find much on salary.com about his specialty BECAUSE it's too specialized. oh yeah, and I left out one other detail: his wife is a pediatric cardiac surgeon. and, yes, they met in medical school. also, he is actually "technically more skilled and has received more training" than your average plastic surgeon. he can do plastic AND much, much more.

boy, there's way too many non-believers/haters on this forum. that's really too bad.

please enough questioning the authenticity of this post...if you don't believe it, too bad for you.

Personally I know a few people who make low 8 figures anually and they don't have a car collection like that. A couple of exotics, a nice suv and sedan. Maybe cali is very very different.

Really not hating, I've just never heard of a surgeon having a car collection like that.

Oh, yeah I wasn't assuming he paid cash for the cars, but if he was making payments, he could be up around 50k per month which would mean his car payments are above that 90th percentile. So he'd realistically need to be making at least 2.5m plus per year. With his wife's help that definitely seems more likely.

Edit: haha typed something wrong in excel, car payments are more like 15k per month. that seems alot more feasible.

[mayno]

Originally Posted by jaiman

Personally I know a few people who make low 8 figures anually and they don't have a car collection like that. A couple of exotics, a nice suv and sedan. Maybe cali is very very different.

Really not hating, I've just never heard of a surgeon having a car collection like that.

guys, this is getting annoying.

first off, wealthy people (at least the smarter ones) don't simply rely on their primary occupation to provide 100% of their income. smarter, more savvy people invest in other areas and sometimes even earn more than their primary job: stocks, commodities, real estate, VC investments, rental properties etc.

wealthy people (being rich is different than wealthy - like a janitor winning the lottery makes him "rich") receive consistent high income from multiple sources by diversifying their investments across many channels. ever hear of companies like UBS, Fidelity, Citigroup etc., these firms provide a service called "wealth management."

in layman's terms, it's all about taking a lot of hard earned cash and turning it into EVEN more money. I'm not going to go on and on...on what else he does to earn income. BUT just based on his and his wife's income, they can easily finance those cars.

[Bobby_Light]

Originally Posted by mayno

He probably pays more in 2-3 months of car payments than many of us make in a year.

Does he have a car payment? Truly wealthy people pay cash for everything.

[mayno]

Originally Posted by Bobby_Light

Does he have a car payment? Truly wealthy people pay cash for everything.

that statement is absolutely false.

let me tell you something about paying things off in lump sum. smart investors don't do it. why? because it means they have less money (even though it may be relatively small sum) to invest in other investments. here's a simple example:

scenario 1
you make $50K a month
you buy a $50K car and pay it off in one lump sum
result: you now have zero opportunity to earn additional income

scenario 2
you make $50K a month
you buy a $50K car and put zero down at 5% interest @ 60 months
you now have $50K that you could invest in stocks, purchase some condo or apt rental properties, renovate some existing properties, deposit in a high yield CD etc.
result:
-in the stock purchase example, one could easily earn 10% in one month ($5000 profit)...could also lose money though...that's the risk you take when you have a lot of money.
-in a rental property renovation, the renovations may allow you to increase your future tenant's monthly rent by 20% compared to your competitors...this then increases your cash flow month over month moving forward (long term benefit).

the point i'm trying to make is that wealthy/smarter people try to use a little of their own cash as possible when making big purchases....it's all about leveraging their credit to make little to no down payment and to finance the rest. maximizing one's cash flow for investing and achieving even greater returns is what it's all about. it creates even more wealth, especially for the long term.

it's actually a bad thing to payoff a car at once...of course, for the typical person, they don't understand this philosophy so ignorance is bliss.

and finally...yes, he has a monthly payment.

[firstkill]

500 a year for a private OMFS is easy to obtain. If you have your home paid off then you have plenty of cash left over for cars. A lot of people have extra vacation homes that cost way more than exotic cars but they dont care about cars...

any doctor can make enough for a few exotics if they choose to spend teh money there.


fk

[Robertbog]

Originally Posted by mayno

that statement is absolutely false.

let me tell you something about paying things off in lump sum. smart investors don't do it. why? because it means they have less money (even though it may be relatively small sum) to invest in other investments. here's a simple example:

scenario 1
you make $50K a month
you buy a $50K car and pay it off in one lump sum
result: you now have zero opportunity to earn additional income

scenario 2
you make $50K a month
you buy a $50K car and put zero down at 5% interest @ 60 months
you now have $50K that you could invest in stocks, purchase some condo or apt rental properties, renovate some existing properties, deposit in a high yield CD etc.
result:
-in the stock purchase example, one could easily earn 10% in one month ($5000 profit)...could also lose money though...that's the risk you take when you have a lot of money.
-in a rental property renovation, the renovations may allow you to increase your future tenant's monthly rent by 20% compared to your competitors...this then increases your cash flow month over month moving forward (long term benefit).

the point i'm trying to make is that wealthy/smarter people try to use a little of their own cash as possible when making big purchases....it's all about leveraging their credit to make little to no down payment and to finance the rest. maximizing one's cash flow for investing and achieving even greater returns is what it's all about. it creates even more wealth, especially for the long term.

it's actually a bad thing to payoff a car at once...of course, for the typical person, they don't understand this philosophy so ignorance is bliss.

and finally...yes, he has a monthly payment.

You are forgetting one thing.

Debt means you are owned.

That's why truly wealthy people prefer paying cash.

[mayno]

Originally Posted by Robertbog

You are forgetting one thing.

Debt means you are owned.

That's why truly wealthy people prefer paying cash.

not necessarily...if you're assets > debts and you have a lot of cash flow (millions) and can easily manage your debts (that what wealth managers do for the wealthy) while earning greater ROI on your investments, you're in a really good place.

debt is not a bad thing to have unless it exceeds your worth.

[Robertbog]

Originally Posted by mayno

not necessarily...if you're assets > debts and you have a lot of cash flow (millions) and can easily manage your debts (that what wealth managers do for the wealthy) while earning greater ROI on your investments, you're in a really good place.

debt is not a bad thing to have unless it exceeds your worth.

interest is a bitch though, and if you have a large some of money with a high interest on it who cares. Also the truly wealthy are the ones that make the money, and print the money for the govts, the bank owners (Oil is almost on that level). Those people dont take loans, what kind of banker takes a loan.

[Bobby_Light]

Originally Posted by mayno

that statement is absolutely false.

let me tell you something about paying things off in lump sum. smart investors don't do it. why? because it means they have less money (even though it may be relatively small sum) to invest in other investments.

it's actually a bad thing to payoff a car at once...of course, for the typical person, they don't understand this philosophy so ignorance is bliss.

and finally...yes, he has a monthly payment.

If you are wealthy, you pay cash. Period. I think your definition of wealthy and mine are different. Saying having a car note is a good move is ridiculous. Why would you pay interest? It's like paying the minimum on my credit card monthly so I can free up some extra cash. If you have a stable of cars already, why keep buying more cars if you're not paying cash? I don't get it.

Originally Posted by Robertbog

You are forgetting one thing.

Debt means you are owned.

That's why truly wealthy people prefer paying cash.

+1

[mayno]

Originally Posted by Bobby_Light

If you are wealthy, you pay cash. Period. I think your definition of wealthy and mine are different. Saying having a car note is a good move is ridiculous. Why would you pay interest? It's like paying the minimum on my credit card monthly so I can free up some extra cash. If you have a stable of cars already, why keep buying more cars if you're not paying cash? I don't get it.



+1

you're taking what i said much too literally. here's a scenario:

if you make $5K a month and want to buy a $10K car and have $10K in savings, with $10K in credit card debt at 16% APR making min. payments.

assume, you have excellent credit and could get a low interest loan of 0% or even 1.9% from Honda or Toyota (these are very realistic rates btw)

the dumbest thing to do would be to purchase the car lump sum (i.e. use $2K from your checking and $8K from savings).

much better off putting 0 down for the car even if you got a 1.9% APR (comes out to about $490 in interest fees over a 60 month period OR about $100 a year) and to instead significantly pay down the credit card balance. you get absolutely raped on interest when you pay the min on a high interest rate credit card.

in this case you're simply saving money instead of earning any. would be better if you had no credit card balance and put 0 down on a car (w/ 1.9%) and put half of your savings and 20% of your monthly income towards your 401K instead of paying the car off in full. there's no point and you lose your investing firepower.