i911

I have been contemplating on getting a new 911. Just wondering what people feel is a responsible net worth one should have before pulling the trigger?

$500K
$1M
$1.5M
$2M
$3M+?

rpilot

As long as you are eligible for SNAP, I figure your food is taken care of by the government unless of coure you are in Russia or Nigeria. You can always spend the nights on a friends couch if you promise to let them drive your porsche, so if you have 150K, buy a 150K car.

(Now the OP / scammer is soliciting net worth in an indirect way. Good luck.)

duxsi

Completely dependent on your personal situation.
Has less to do with one's actual net worth, and more to do with where you are in your life.

Noah Fect

I once sold a Ferrari to a guy who worked at a government facility. Real nice fellow in his thirties. His boss drove a Countach, and would occasionally post to the Ferrari email reflector. He once said, paraphrasing, "Live for today, because no matter your present circumstances, this might be as good as it gets."

The government facility in question was a nuclear weapons lab. Who are we to argue with those guys?

kosmo

In america you dont have to worry about it your wealth. You can finance anything here.

Augustomf

Although I agree that Net worth is relevant what you really have to ask yourself is "how much are you willing to spend on a car over the next 3 years?" Because buying a car does not mean throwing all the value of the car away, it means losing the depreciation of the car over the years, and different cars have different depreciation rates, plus insurance plus cost of maintenance.

So if you buy a car that appreciates, you are actually doing well, I had a 993 and sold it for more then I bought it for.

My key decision for buying my 991 was how much more in insurance and depreciation I would spend compared to what I was driving. I figured the difference was not that great, and the 991 won my heart.

Still, I agree that you should spend sparely on superfluous items in your life until you already have contributed a fair amount to your egg nest. That includes all and any luxury items.

chuck911

At my first PCA Annual Awards Banquet they had everyone stand up who had been a member more than 10 years. They kept increasing the years until only a few remained standing. When they are at like 35 years I notice one guy standing who doesn't look much more than 35 himself! I go talk to him afterwards and learn he ordered a 914 on his 18th birthday. Granted, not a $150k 991. But it was everything he had.

At the other end of the scale, I looked over one day while driving across the 520 bridge and saw Bill Gates driving his wife home in their 996. Carlos Slim, I doubt he has even one. Bill though, he bought his first one way back when it was basically just him and Paul in a garage in the desert.

The teenager by the way is 5 time SCCA Autocross Champion Greg Fordahl.

I really don't think it has all that much to do with money. If its in your blood bad enough, you will find a way.

Hammer911

You assume that there is anything "responsible" about owning one of these bad boys in the first place

carrerapete

You nailed it.

Mike in CA

Are all the other bases covered? Secure financial/job situation, no high interest debt, saving enough for retirement, kid's education and contingencies, have enough insurance, good cash flow, and so on? Then treat yourself to that $150K toy. Otherwise....... my $.02

fantom

If you need to ask the question, you're probably not ready yet.

Porsche911_S

My wife and I had too much merlot one night and she said, "let's get another 911." I said, "what?" She repeated herself. And I quickly replied, "why the hell not?" We're both 64, been retired for many years, have no financial issues but believe none of us are getting out of this alive...if you know what I mean. So we bought a new fully-loaded 911S, love it, drive it all the time and just don't give a damn what it cost us. We're having fun, enjoying life and spending some of our money before it's too late. Better to buy your own 911 then to have your heirs do it.

tangram

Sorry, but if you need somebody to advise you on this that would be a red flag if it I were in your shoes.

Explorer7

As long as you can afford to buy, pay your bills and have steady income, it should not matter what your net worth is.

What is all that hard work for, if you can't even treat yourself.

Life is too short ..

SanibelSpeed

So long as the cost to pay for a $150 sports car isn't a cash burden to your cash flow - i.e., you make a decent living and your other debt isn't a huge chunk already, then the only real question is, "How much of my net worth am I willing to lose due to depreciation of my car?" If the car depreciates 50% in 3 years and your loss is $75K, then you need to decide how much of your nest egg you're willing to lose by indulging in your love of your car. $75K represents 15% of your net worth if you're worth $500K and the percentage goes down as your net worth goes up.