Otago Rally http://otagorally.net/ Tue, 27 Sep 2022 13:07:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://otagorally.net/wp-content/uploads/2021/06/icon-1-150x150.png Otago Rally http://otagorally.net/ 32 32 How I weathered the last recession https://otagorally.net/how-i-weathered-the-last-recession/ Tue, 27 Sep 2022 13:07:08 +0000 https://otagorally.net/how-i-weathered-the-last-recession/

When the last recession started in December 2007, I was in a very different place in my life. Although I was married at the time, I was only 27 and had no children. It meant I had a lot more freedom and a lot less responsibility. But I certainly wasn’t as financially savvy as I am today.

Although I didn’t make as much financial progress as I would have liked in my late twenties, the two years that made up the last recession weren’t a total loss either. I certainly learned a ton, including lessons that still benefit me today.

Challenge #1: Getting into debt

Like many people in our late twenties, my husband Greg and I spent more money than we should have on things we didn’t really need. We swapped our cars for newer cars every few years and went to dinner all the time. We’ve also overspent on home improvement projects that haven’t necessarily paid off. And we haven’t saved enough of our income.

At one point, we owed over $50,000, between credit card debt and car loans. Even with good jobs and stable incomes, we managed to dig a hole that took years to get out of.

How we overcame it

By the time 2008 rolled around, I was pregnant with our first child and we were ready to change our finances. Something about having a girl on the way made us take our lives more seriously, and we knew we had to change to have the life we ​​really wanted.

Although it took some time to figure out how to turn things around, we eventually started using a method known as zero-sum budgeting and reduced our regular expenses significantly. For example, we stopped eating out and halved our food and discretionary spending overnight.

From there, we spend all of our “extra” money on paying off our debts. Progress was slow at first, but eventually we paid off all our credit cards and car loans. After paying off $50,000 in debt, we pledged to be debt free – and have been since then.

Challenge #2: Buy real estate at the top of the market

Although we racked up credit card debt and car loan debt in our late 20s, we did a few things well. For example, we invested $10,000 to purchase our first rental property in late 2007 and upgraded our first home to a second rental in early 2008.

Unfortunately, the housing crisis that began in 2008 caused the value of both of our rentals to drop instantly. It was really stressful for us at the time, especially since we bought these properties with the aim of building long-term wealth.

Although there are no clear signs that record house prices will fall if the United States enters a recession, buying expensive can hurt, especially if you face a layoff or a tighter budget due of inflation.

How we overcame it

Fortunately, the rental prices we could charge for our properties did not go down, only the value of the real estate. With that in mind, we simply put the houses up for rent and proceeded as owners.

We still own these properties, although we plan to sell both this year. Even though we experienced a decline in equity when house prices fell, both houses are worth more than double what we paid for them. We have also never experienced a vacancy longer than a month during our entire tenure.

Challenge #3: Not investing enough for retirement

Although we bought investment real estate earlier in our lives than most people, we dropped the ball when it came to retirement in our mid to late twenties. We both had a 401(k) plan through our jobs, but we contributed a small portion of our salary, compared to what we save and invest today.

How we overcame it

While I wish I understood the power of compound interest in our 20s, we more than made up for our lack of retirement savings in our 30s and early 40s. Saving and investing became much easier to manage once we were debt free, and we learned a lot about investing along the way.

We are now self-employed and maximize our individual 401(k) contributions each year, while investing all other funds in a traditional brokerage account. We are 42 and 43 now, and most people would say we are financially independent. However, since we have children at home, we are postponing full retirement for another seven years until our youngest reaches college age.

The bottom line

A lesson I’ve learned since the last recession is that life can change far more than you would predict over a period of a decade or more. I also learned that it’s okay to make mistakes and you can find your way back if you figure out what you need to do, make a plan, and stick to it.

In 2007 and 2008, we were both working for someone else and we weren’t really moving forward. Today, we are debt-free, self-employed and live our lives entirely on our own terms.

Times of financial turmoil can make you question everything, and it’s easy to feel like you’ll never make progress. But if you know where you want to be and what it will take to get there, you can start building the life you want.

LUNC up 33%; Terra co-founder Do Kwon announces his location following Interpol’s Red Notice https://otagorally.net/lunc-up-33-terra-co-founder-do-kwon-announces-his-location-following-interpols-red-notice/ Tue, 27 Sep 2022 02:54:27 +0000 https://otagorally.net/lunc-up-33-terra-co-founder-do-kwon-announces-his-location-following-interpols-red-notice/
  • Do Kwon is said to have been “on the run” in recent days, leading to Interpol issuing a worldwide arrest warrant for him.
  • The Terra co-founder denied all allegations, saying he was writing code in his living room.
  • In the wake of this turmoil, LUNC managed to sneak a 33.34% rally over the past 24 hours.

Terra doesn’t seem to be leaving the headlines anytime soon, even though the debacle is now almost five months old.

The collapse of the ecosystem, which triggered a market-wide crash and millions of dollars in losses, led to all guns being trained on Do Kwon, the co-founder of Terra. The originator is now also the subject of an Interpol Red Notice.

But Do Kwon lives a normal life

At the request of South Korean prosecutors, Interpol this week issued a worldwide arrest warrant, also known as a “Red Notice,” on Do Kwon’s behalf. A Red Notice is typically a request from Interpol for local law enforcement to locate and provisionally arrest an individual pending extradition, surrender, or similar legal action.

These arrest warrants are usually issued to people who are “on the run” from the authorities. However, Do Kwon responded to these allegations on his Twitter, stating that he had made no effort to hide from the authorities.

In response, Do Kwon went on to explain that he wrote code in his living room and lived a normal life, going to the malls and walking.

This isn’t the first time Do Kwon has addressed such allegations. Earlier this month, he tweeted in response to the comments and clarified his status.

Luna Classic continues to grow

On the one hand, while the Do-Kwon saga is heating up, Luna Classic is also finding many buyers.

After erasing most of its gains from earlier this month, LUNC has rallied 33.34% over the past 24 hours. Potentially triggered by Do Kwon’s reaction, LUNC was able to trade at $0.00029503.

Luna Classic 24 hour price chart

The Relative Strength Index (RSI) shows that despite the market overheating after the rally, the buying pressure remains. If this continues, LUNC could see more rallies in the coming weeks.

All about the British Championships: September 26, 2022 https://otagorally.net/all-about-the-british-championships-september-26-2022/ Mon, 26 Sep 2022 16:10:08 +0000 https://otagorally.net/all-about-the-british-championships-september-26-2022/

Two more British Championship titles were awarded by Motorsport UK last weekend with a packed schedule including hill climbs, rallies, sprints, trials, drag racing and the usual plethora of circuit racing.

Here is our summary of all actions:

British Touring Car Championship – Silverstone (National)

Three of the young stars of the British Touring Car Championship will travel to Brands Hatch in two weeks’ time to claim the 2022 crown after a thrilling title fight took another turn at Silverstone.

NAPA Racing UK’s Ash Sutton stormed to the top of the standings in second in the final race of the weekend, but a win for ROKiT MB Motorsport’s Jake Hill and EXCLER8’s Tom Ingram means the trio will travel to Brands just seven points clear of this one An order.

Team BMW’s Colin Turkington remains mathematically in the running, 27 points adrift and a theoretical 56 points in the Grand Prix layout of the legendary Kent circuit, but a tough day for the Northern Irishman has dashed his hopes of a record-breaking fifth crown.

The other win went to Toyota Gazoo Racing UK’s Rory Butcher, who enjoyed his strongest weekend of the season, the win being part of a podium hat-trick.

ROKIT F4 British Championship certified by the FIA ​​– Silverstone (National)

Alex Dunne (Hitech GP) has all but wrapped up the ROKiT British F4 title, but victory by main rival Ollie Gray (Carlin) in the final race at Silverstone kept the champagne on hold for the Irish teenager – for now.

The two collided at Luffield while contesting the lead in the opening race; Gray continued his win with front wing damage as Dunne pulled away and then stormed back to fourth place. After the race, Gray was penalized twice – once by the Clerk and again on appeal by the stewards – and the matter is now being brought before the National Court.

That proved crucial as the potential for Gray to return to victory adds a further 16 points to the points remaining at Brands Hatch. Dunne leads by 102 points with Gray now having 103 available, so just a perfect weekend and having his penalty overturned will be enough to fend off Dunne.

Louis Sharp was declared the winner of the opening race in the face of the penalty, with JHR’s Georgi Dimitrov taking the swag in what was typically action-packed reverse grid competition.

British Hill Climb – Loton Park

Wallace Menzies secured his third British Hillclimb Championship title with two run-off wins on a dramatic final day at Loton Park.

Menzies and nearest rival Alex Summers arrived at the Championship summit in Shropshire with ten run-off wins each in a stunning 2022 season and just five points between them.

Disaster struck Summers, however, when he made a crucial error while 0.6s off Scott Moran’s benchmark time in the opening and went off course in his DJ Firestorm single-seater.

In his absence, Menzies shot to the top of the times, earning a crucial run-off win. He repeated the feat later in the day, eventually piloting his Gould to a third straight title by seven points, with Summers finishing second.

British Rally Championship – Trackrod Rally Yorkshire

Osian Pryce and co-driver Noel O’Sullivan’s win at the Trackrod Rally Yorkshire was enough to secure Motorsport UK’s inaugural British Rally Championship title.

A flawless run in the Melvyn Evans Motorsport-prepared Volkswagen Polo GTi began with Friday night’s 11-mile Dalby test, which saw Pryce and O’Sullivan hold a 5.2-second lead over their main title rivals, four-time winner Keith Cronin, drove out and Mike Galvin.

As hard as Cronin tried, Pryce proved unstoppable at the front throughout the event, winning four of the six stages en route to victory. The Irishman salvaged second place and rallied to overtake Ruari Bell again, but his bid for a record-breaking fifth crown will have to wait another year.

Wera Tools British Karting Championships – PFi

The IAME, TKM and Bambino classes of the Wera Tools British Karting Championships crowned their respective champions at PFi International last weekend.

In X30, Gus Lawrence and Gabriel Stilp celebrated winning the Senior and Junior titles, respectively, while Leon Frost and Chris Whitton were similarly victorious in Junior TKM and TKM Extreme.

Jesse Phillips took the IAME Cadet crown and Riley Munro, the Bambino winner, rounded out six action-packed championships for the 2022 season.

British Drag Racing Championship – Santa Pod Raceway

Bobby Wallace earned his first career victory by defeating newly crowned 2022 champion Andy Robinson in the finals. Robinson unusually stumbled over the red light with a false start.

Wallace, confident of victory, could have easily made it to the finish, but instead clocked a personal best of 5.881 seconds, believed to be the lowest ET of the event. Robinson had qualified low at 5.902 seconds and set the event’s top speed at 245.15 mph.

Robinson is champion for the eighth time.

The great champion Leclerc is “still missing something” – Motorsport Week https://otagorally.net/the-great-champion-leclerc-is-still-missing-something-motorsport-week/ Mon, 26 Sep 2022 09:25:48 +0000 https://otagorally.net/the-great-champion-leclerc-is-still-missing-something-motorsport-week/

Former FIA President Jean Todt says Charles Leclerc is a “great champion” – but says the Ferrari driver is “missing”.

In the early stages of the 2022 season, Leclerc appeared to be in contention for the title, having won two of the first three races.

However, he has only had one other win since then, with Red Bull’s Max Verstappen now boasting a massive 116-point lead in the standings.

Reliability has been an issue for Ferrari at some races this year, but Leclerc made mistakes – most notably in France, when a mistake saw him withdraw from the Grand Prix lead.

Ferrari have also executed a number of questionable strategies over the year and are now looking to defend second place in the Constructors’ Championship from Mercedes.

Speaking to Gazzetta dello Sport, Todt said of Leclerc: “Charles is already a great champion. He’s still missing something, I hope he’ll have it soon.”

Prior to his tenure at the helm of the FIA, Todt was a prominent senior figure within the Ferrari F1 organisation.

The Frenchman has urged his former team to learn from the mistakes that plagued his 2022 season.

“Ferrari once had the best car in the championship,” he said. “Then they missed certain opportunities – I’m thinking about strategy, a safety car that came at the wrong time, reliability issues.

“Different episodes had their price. We need to think about it so they don’t repeat themselves.

“Don’t leave anything to chance. And if you can manage not to take anything for granted, all the ingredients are there to become champions.”

Ferrari’s championship drought dates back to the 2008 season, when it last led the constructors’ championship.

Kimi Raikkonen remains his final Drivers’ Champion, having prevailed in his first year with the Scuderia team in the 2007 season.

WRC Generations will be released on Switch this December https://otagorally.net/wrc-generations-will-be-released-on-switch-this-december/ Sun, 25 Sep 2022 09:17:07 +0000 https://otagorally.net/wrc-generations-will-be-released-on-switch-this-december/

Auto racing has become a big thing in recent years. Due to the meteoric rise of Formula 1, everyone is aware of the sport and its various iterations. One of those iterations is the World Rally Championship that is also under the FIA.

Borrowing from its sister competition Formula 1, the WRC has also tried to reach a wider audience. And there’s no better way to do that than by tapping into a medium like gaming. Therefore, the competition has teamed up with a French developer Nacon to develop video games for them.

WRC generations is the latest entry in this series and will be available shortly October for all platforms. The game was announced for the Nintendo Switch from the developers. Now we finally have a release date for the Switch version, which will be released this year.

Important takeaways:

  • WRC Generations will be released on Switch on December 15, 2022.
  • This release is confirmed for Japan, but not for other regions.
  • The game will also be available on all other platforms this October.

The Nintendo Switch version of WRC Generations will be released on December 15, 2022. The Japanese video game developer 3goo announced it officially on September 22nd. Therefore, the FIA-licensed game based on the championship will be released on Switch in Japan later this year.

Previously, Nacon had vaguely said WRC Generations would be out later this year, but now we know the exact date. 3goo is also a proficient developer of racing video games. The Japanese studio has previously worked on it Gear Club Unlimited and its sequel for Switch.

WRC Generations will have hybrid cars that are part of the competition this year. This is also the first time the rally has been held in Japan in 12 years, so this is something special for the fans. Some screenshots of the game were also included in 3goo’s announcement.

WRC Generations photo revealed
WRC generations
Screenshots of the game published by 3goo

In the first picture you can see them Subaru Impreza used by the Subaru World Rally Team when fighting for the championship. How the training in WRC Generations will look like, we can see in the 2nd picture. You can also see the split screen mode in the image below.

WRC generations
Split screen mode in game

A Split screen mode is a feature missing in many modern racing games. So it is very good for the players to have this in WRC Generations. You can play with your friends and family without going online.

WRC Generations appears October 13th on PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S and Microsoft Windows. Nintendo Switch will get the game in Japan this December, but there’s no confirmation for other regions. Hopefully it will release worldwide for the Switch on December 15th so players don’t have to wait long.

Similar reading: WRC 23 will include car building feature, says report

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