Crusje

Dang looks like I'm behind for my age bracket!

Smoothoperator

Keep in mind we are in the generation of greatest transfer of assets from boomers to young. Also, most young ones grow up using iPad and touch screen that will transition into all cars.

M3Inline6

Lots of high earners here, but not necessarily wealth (…in the younger age brackets being discussed). The old money transfers of wealth are the smaller percentage. Lots of six figure earners in California still find themselves living paycheck to paycheck due to the cost of living.

CJDCREW

this is a very good point, I don’t honestly know how to quantify the level of asset transfer.

detansinn

There are a lot of young HENRYs driving 911s that they financed or leased.

High
Earner
Not
Rich
Yet

High income. Net worth? not so much.
A new 911 has been a thing accessible to someone with a six figure professional salary and willing to make some lifestyle compromises to make the payments. I do think that the 992.2 pricepoint is pushing a new 911 out of the reach of middle class enthusiasts willing to make those compromises. With used 911 prices also in the stratosphere, 911 ownership is just less obtainable thing now.

From my experience, you really can never presume that someone has a high net worth from their car. Very often, the inverse is true with folks leveraged out the wazhoo to support a lifestyle image or flex. Yes, rich people do buy these cars, but people also buy them to look rich.

aggie57

The only 20-30 year old's I see driving any sort of 911 around here are trust fund kids, and they prefer Lambo's and Fezza's. Most certainly not 'vettes.

AlexCeres

Hitting mid 30s, ten years into your career, in finance or tech with a modicum of luck, still single, and affording a 911 on lease is pretty easy. Now, a mortgage and a couple kids makes for a very different situation. Everybody’s circumstances are different, and it’s tough to say anything useful without knowing their cost structure. And as @detansinn says, people with very expensive bling aren’t necessarily as rich as they seem. They might even be quite rich by normal people standards, but also … heavily committed. Those nannies, private schools, and vacation houses really eat into the rainy day fund.

ipse dixit

Trust fund kids are not driving 911s.

They are, as you say, driving low end exotics (like Lambos, Bentleys, Ferraris, etc.).

The "kids" that are driving 911s usually have rich parents (not rich enough to be trust fund parents)

detansinn

Need a white collar version of this, because it's just as valid...

jstap808

I'll add my 2c as it's probably different from most 911 owners.

30s, married, no kids. Worked at F500 firms in more back-end roles supporting tech teams from a business perspective (not a banker, lawyer, techie, consultant, etc). Have a masters in a specific area to my work (though no one ever cared), not an MBA. Was recently laid off, let the the funemployment begin (no one is actually hiring anyways).

Never had any school or car debt, come from a upper middle class family but never inherited nor was given money. I have invested my earnings over the years and made good financial decisions (stocks only no real estate or other alt investments --- not gamestop or nvidia), while still living a nice life. I am using some of those gains to buy my new 911 no finance, no lease, just straight cash. Still have a significant chunk in both savings and much more in investments afterwards.

Life is too short to not enjoy things you want to enjoy (assuming you can afford it and it doesnt ruin you financially). I'll get the car and drive it like I stole it and if for whatever reason I need to sell it (use towards a down-payment, cover unemployment, etc), I know there's a market for them. But for now, GIVE ME MY PORSCHE!!!

Hunky

My God is that the truth.
Show me what you own and not what you have I have heard many times when that subject arises with some very forcefull reactions. Millions of folks appear to "have the life" but in reality are little more than slaves to the bank and credit industry monster who own their lives. House, cars, club memberships, vacations, etc. all financed. Many of them don't even own their clothes and shoes which are racked up on credit cards at 20% loan shark sucker interest rates.

Crusje

​​​​​Very true. I've been at one hospital for 3 years and one anesthesiologist went through a gt4, 992 tts, cgts4.0 in those 3 years. Sold the gt4 for price he bought it but sold tts because he said he couldn't afford 2500 payment and sold the cayman because he told me he's only saved 60k for retirement and it's time to make rational choices. Guy is mid 50s and makes 450k/yr. .


​​​​

jstap808

that's insane!!! After you pay off med school, what other massive expenses could you have? Unless it also included undergrad debt, alimony, divorce settlements, and massive credit card debt, what could this guy possibly be blowing money on that he can't afford any porsche on 450k salary?!?! Something ain't adding up here...

C21ban

That is insane but not everyone is good with money management although educated in their profession that pays extremely well.

Hunky

450K/yr is chump change compared to many corporate salaries but only 60K saved in a 401K/IRA etc. at 55 with a multiple 6 figure annual income is just stupid. I wouldn't let that goon give me an aspirin.