Is it a good idea given my circumstances?
12-13-2023, 02:30 PM
#32
Burning Brakes
We make half what you do and I went for it.
Sure cost of living here is probably a bit less, but YOLO!
Sure cost of living here is probably a bit less, but YOLO!
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GeorgeA (12-13-2023)
12-13-2023, 02:34 PM
#33
The correct forum to ask this question is bogleheads.org. I'm 100% serious.
You posted your income but not your expenses/debt. But just given your numbers, it sounds like you can afford it.
Post on Bogleheads and include more details about expenses, etc. If you make a good post you'll get quality responses.
You posted your income but not your expenses/debt. But just given your numbers, it sounds like you can afford it.
Post on Bogleheads and include more details about expenses, etc. If you make a good post you'll get quality responses.
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toma nova (12-13-2023)
12-13-2023, 02:40 PM
#34
A toy like this should not increase stress in your life. If you can cut the check and not be more stressed out then make it happen.
If in any way shape or form buying a car like this creates a burden on you go buy something else that you'll have fun in (like an M3) until the idea of that cost adds fun not stress to your life.
Nobody else is going to be able to answer that question for you.
If in any way shape or form buying a car like this creates a burden on you go buy something else that you'll have fun in (like an M3) until the idea of that cost adds fun not stress to your life.
Nobody else is going to be able to answer that question for you.
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ASuh (12-15-2023)
12-13-2023, 03:10 PM
#36
On the surface you make a good amount of money and won't have any issues getting a $130K Porsche. With that said, if you live in Silicon Valley and have a $3 million mortgage, and a bunch of other debt then it may not be enough. Only you can decide.
I would say there many are people buying $60K cars that don't make 1/4 of what you make and have no issues affording that car as well as a mortgage, etc.
As for the mental block thing, you have to find a way to get over it. I will say this... you are in your 30s, I am in my mid 50s. The older I've gotten the more I realize stacking dollars endlessly is pointless. At some point you realize you have more than you can ever spend and you should have been enjoying life more as there are definitely things in life that are best enjoyed when you are younger. For example, I've been buying expensive road and mountain bikes and cars since I was in my 20s and I have zero regrets. While I would be worth millions more if I saved all that money throuhgout my 20s 30s and 40s, the experiences I had with friends enjoying these hobbies are priceless. I cannot imagine myself doing downhill mountin bike runs at ski resorts or aggressively banging a manual transmission 992 through the gears into my 70s. Heck even in my mid 50s, it's not as fun driving because my eyesight isn't as good and it's not as enjoyable. Despite me spending money on toys and experiences all this time, and having millions less dollars, I still managed to make and save a good amount of money and more than I will need to support my lifestyle for the rest of my life and my spouse's life.
As for lower cost alternatives to a Carrera, I'd probably get a Lotus Emira for about $100K, or a M2 Competition for $70K or so. You can also buy a used 992 but those aren't selling for much less than a new one anyway.
I would say there many are people buying $60K cars that don't make 1/4 of what you make and have no issues affording that car as well as a mortgage, etc.
As for the mental block thing, you have to find a way to get over it. I will say this... you are in your 30s, I am in my mid 50s. The older I've gotten the more I realize stacking dollars endlessly is pointless. At some point you realize you have more than you can ever spend and you should have been enjoying life more as there are definitely things in life that are best enjoyed when you are younger. For example, I've been buying expensive road and mountain bikes and cars since I was in my 20s and I have zero regrets. While I would be worth millions more if I saved all that money throuhgout my 20s 30s and 40s, the experiences I had with friends enjoying these hobbies are priceless. I cannot imagine myself doing downhill mountin bike runs at ski resorts or aggressively banging a manual transmission 992 through the gears into my 70s. Heck even in my mid 50s, it's not as fun driving because my eyesight isn't as good and it's not as enjoyable. Despite me spending money on toys and experiences all this time, and having millions less dollars, I still managed to make and save a good amount of money and more than I will need to support my lifestyle for the rest of my life and my spouse's life.
As for lower cost alternatives to a Carrera, I'd probably get a Lotus Emira for about $100K, or a M2 Competition for $70K or so. You can also buy a used 992 but those aren't selling for much less than a new one anyway.
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AlterZgo (12-14-2023)
12-13-2023, 03:24 PM
#37
If You Have To Ask???
12-13-2023, 04:03 PM
#39
Instructor
You need a CFP.
12-13-2023, 04:16 PM
#40
Race Car
12-13-2023, 04:19 PM
#41
Please post your SSN and passwords.
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detansinn (12-14-2023),
HudsonOH992GTS (12-13-2023)
12-13-2023, 04:23 PM
#42
12-13-2023, 04:30 PM
#43
California not only has a very high marginal state income tax rate and high cost of living. What the OP did not mention their total debt to income.
I got my first Porsche a little less than 20 years ago, a 996 under warranty, when the 997 was the current model. The 991 is a great car, and having a 992, it is better, but not miles better.
I got my first Porsche a little less than 20 years ago, a 996 under warranty, when the 997 was the current model. The 991 is a great car, and having a 992, it is better, but not miles better.
Last edited by Michael T; 12-13-2023 at 07:31 PM.
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detansinn (12-14-2023)
