"Without it sounding too negative, sportsman racers don’t always feel as if they get much respect from the NHRA."

https://dragracingedge.com/fea...rag-racing-changing/

$25,000 dollars in 1984 would have $62,000 dollars purchasing power today.

$10,000 in 1984 would have $25,000 dollars today.

NHRA should start paying in gold. An ounce of gold was $308 dollars in 1984.

Today an ounce of gold is advertised to sell at around $2000 dollars an ounce.

quote:

Originally posted by Mike Rietow:
$25,000 dollars in 1984 would have $62,000 dollars purchasing power today.

$10,000 in 1984 would have $25,000 dollars today.

NHRA should start paying in gold. An ounce of gold was $308 dollars in 1984.

Today an ounce of gold is advertised to sell at around $2000 dollars an ounce.

My financial investment returns over the last 25 years (a very conservative mix of stock and bonds) average over 8% per year. $308 invested in 1984 at 8% per year would be $4,918 today. So gold is actually a pretty crappy investment.

You all might try ground. Pd $63,000 held for 20 years and sold for$500,000. I have done several comparative deals over the years. Oh and I retained the mineral rights which continue to pay nicely. Have yet to realize a profit on any kind of racing

quote:

Originally posted by ferndaleflyer:
Have yet to realize a profit on any kind of racing

Your freaking kidding me?

Profit from racing? I have made money a couple seasons, depending on what you count as expense. All the others were losers. And when I say make money.....I didn't lose money two years. LOL.

Racing, especially bracket racing has evolved quickly in the last 10-15 years. Small tracks closing, but events getting bigger. Car values are high (right now). Just think, You used to get a "4 second" sticker from Jegs.

Basically every Sportsman category at the Gatornationals is overbooked.No more entries allowed due to the quota system.

It is only natural that other forms of events would emerge for Sportsman racers.

I am SO glad that purses have absolutely no relevance to me. Take care. Tom Worthington

quote:

Originally posted by SlyFox:

quote:

Originally posted by Mike Rietow:
$25,000 dollars in 1984 would have $62,000 dollars purchasing power today.

$10,000 in 1984 would have $25,000 dollars today.

NHRA should start paying in gold. An ounce of gold was $308 dollars in 1984.

Today an ounce of gold is advertised to sell at around $2000 dollars an ounce.

My financial investment returns over the last 25 years (a very conservative mix of stock and bonds) average over 8% per year. $308 invested in 1984 at 8% per year would be $4,918 today. So gold is actually a pretty crappy investment.

The dollar has lost 60% of it's purchasing power since 1984, meaning $4,900 has $1,950 purchasing power today.

With stock you're holding an IOU, with gold you're holding money, not currency.

You don't buy gold at $308 an ounce, to sell it for $2,000. You buy gold to sell it to sell it for $50,000 an ounce. That day is closing in.

LMAO

Didn't feel like doing the math on investments. Hell its monday and doing nothing but numbers.

Rental property done right seems to be one of best deals going. One customer builds on cash bases.Rents way cheaper than he should.Still house repaid in 15 years and he has a house worth more than he paid.

ANother customer builds on loans,Refinance every 5 years and has tone of write offs. Now what happens to refinance money he picks up I don't know.LOL Last count he is at 57 houses.

I spent a few house racing.

quote:

Rental property done right seems to be one of best deals going.

Democrat presidents, governors & mayors may make "done right" a bit difficult to obtain. Especially those landlords with mortgages.


"Aug 6, 2020"Landlords in forbearance must notify their tenants that they cannot be evicted for nonpayment of rent due to the pandemic," said FHFA Director Mark Calabria in a press statement."

quote:

Originally posted by Canted Valve:

quote:

Rental property done right seems to be one of best deals going.

Democrat presidents, governors & mayors may make "done right" a bit difficult to obtain. Especially those landlords with mortgages.


"Aug 6, 2020"Landlords in forbearance must notify their tenants that they cannot be evicted for nonpayment of rent due to the pandemic," said FHFA Director Mark Calabria in a press statement."

I can't imagine being in that situation. When you owe money on a rental and the renters don't have to pay.....it's going to end poorly for you.

yeah it's changing

I go maybe 3 or 4 times a season now

costs keep going up, my job pay doesn't proportionally, it's cheaper to go to the lake than it is to go to the races--although I prefer to race than fish.

no money to be made in racing to speak of. I've made enough in fishing to pay for the entire racing operation several times over, that is, when I participated in tournaments. Past life.

There is money to be made racing ,I think. It depends on what you race and managing it like it is business and not just fun hobby. If you have to match everyone else's motor home and trailer, have to have new car every year and travel to every race no matter the distance and cost it will probably be difficult.

While some areas of country require more travel. Here in Southeast there are dozens of track that are under 200 miles and central NC there is almost that many under a 100. Not all have big money races,but most do have good size purse on more than one occasion per year.

Are you going to be able to race for living? I doubt many can pull that one off. Although it seems a few pretty much do, key word FEW. Most of those have another source of income to go along with what they can win.

In 2021 I am racing closer to home and not attending any NHRA LODRS events, it has just gotten away too expensive and with all the traveling too time consuming.

At the end of 2021, or possibly sooner, I am going to sell everything (car/trailer/motorhome/parts pieces, tools and all the equipment) then sign off from DRR.

I need to find a recreation that is less stressful and easy to master. With that in mind I have decided to take up playing golf.

Bob

quote:

Originally posted by RPROGAS:
In 2021 I am racing closer to home and not attending any NHRA LODRS events, it has just gotten away too expensive and with all the traveling too time consuming.

At the end of 2021, or possibly sooner, I am going to sell everything (car/trailer/motorhome/parts pieces, tools and all the equipment) then sign off from DRR.

I need to find a recreation that is less stressful and easy to master. With that in mind I have decided to take up playing golf.

Bob

Wow. Your hobby is increasing stress? I would quit too! My hobby (bracket racing) relieves stress. Guess it all comes down to your approach. Take care. Tom Worthington

$7.99 for one at NAPA today.

Nothing gets more expensive, it's that the all mighty dollar, the root of all evil, is losing it's purchasing power / influence.

$43 dollars for 8 NGK spark plugs & one quart of Pennzoil 10w-40



In times of Universal deceit, speaking the Truth becomes a revolutionary act.

quote:

Originally posted by Mike Rietow:
$7.99 for one at NAPA today.

Nothing gets more expensive, it's that the all mighty dollar, the root of all evil, is losing it's purchasing power / influence.

$43 dollars for 8 NGK spark plugs & one quart of Pennzoil 10w-40



In times of Universal deceit, speaking the Truth becomes a revolutionary act.

Might want to try some where other than NAPA. O'Riley's is around 2 bucks for NGK's. I might have to pick them up at warehouse (about 10 miles away)or wait for them to get to store. Lot cheaper than $35 for 8. I think Rock auto is under 2 but with shipping you need to be buying lot more than 8.