MarkD

Set up a 529 college savings plan from the State of your choice and have all those who might impose a guilt trip give gifts in the form of a deposit Seriously, these 529 plans are pretty cool... I chose California's. You can choose a plan from any State.

Oh, and hang on to your toys! It's hard to get them back. Besides, kids love these cars. Mine have been a good family-based activity, whether wrenching or driving and I have a young family. 3.5 YO and 1.5 YO.
Wife is very supportive... sounds like Ed Burdell's except I do all of the cooking... I like to cook.

RallyJon

The 993 is my version of a minivan. Padding, sound insulation, the lap of child-coddling luxury! The '71 that preceded it was not very kid friendly, and strapping the infant seat in the front seat was pretty dangerous and probably illegal.

Bokonon

I got my old Corvette 1 month before my 1st son was born. With 2 seats it was not much of a family car. So 1 month before my 2nd son was born, I got the 993. With the backseats, its an ideal family car.
-terry

Father of 3

I agree with Mark on the 529 plan. I have one for each of my kids! What I would recommend is to open one up now, right after your daughter is born. Set up a monthly withdrawl from your checking account. Whatever you are comfortable putting away. The most important thing is to start. Then, when you get your next raise, figure out your aftertax take home, net out whatever you think your real increase in expenditures might be, and save the rest. Bump up the 529 monthly withdrawls in this way until you hit what you think you need to save every month. There are plenty of college savings calculators out there that can help you figure out how much to stash away each month. I save about $300/month/kid. The great thing about 529 plans is that the money is in your name, can be transferred to your other children, can be spent on lots of things besides tuition and books, and could even be transferred to your nieces and nephews if your kids don't need the bucks due to a scholarship or cheaper school etc.

All this does not take away from my original recommendation of not to stress out about what other think. The most important thing is that your wife supports your decision.

My Wife was totally supportive. I was the one waffling. I almost bought a "best of both worlds" car like an S4, 740i sport, S6, M3 etc. It was my Wife who told me to get the Porsche. She basically said that "if that's what you really want, why are you looking at all those other cars. Get what you want". That and she hated all the Audis. In addition, we have the ultimate offset to the 993, a Sienna mini-van. An added bonus is that we just added a 2001 740i sport to the stable. The Wife's car. She fell in love with them when I was looking.

Pete

Look at it this way....you'll have room in the back "seat" for at least the next 6 or 8 years for your youngster. After that, he/she will probably be too big to ride back there and then you'll be ready for the mini van, especially if they have a brother or sister or two in the interim.

Pete

jimbo3

I might be the lone voice here, but it's crazy to borrow money for ANY car (or any depreciating asset) except a business purchase or lease. Cars suck alot of cash and to throw away another wheelbarrow full of money for interest payments and finance fees on a toy is a little excessive. Sounds like you're probably way ahead of most folks seeing how you already own a couple of cars outright, though. Not trying to throw a wet blanket on it, just a personal observation from someone that is now glad that he saved/invested (mostly) all he could in the early years to be able to afford pretty much anything he could realistically want in the middle years.

OTOH, if you can support your family financially (and sounds like you can without much struggling) and you can make it work financially, it's not the worst scenario. As others have said, you shouldn't care what someone else thinks, except for your wife. And me.

-Jim

dcdude

Wow...I think I struck a chord here! I received a lot of very valuable (life?) advice from literally around the world almost instantly. The fact that parenting gets harder financially as the kids get older has been hugely insightful. Cars are indeed therapy for me already, and I do recall enjoying all aspects of my Dad's cars early on. Thank you all very much.

Not to get too corny, but I've read about this type of outpouring of support on RL, but ever experienced it personally. It's the real deal, and your collective sincerity is obvious and genuine.

Thanks again!

Chuck

DaveM993

Got it 3 months after my son was born. My 4.5 year old now loves the car as much as I do...collects Matchbox Porsches, corrects people pronunciation of Porsch'a, loves to watch Daddy go 'round the track real fast', sits in the back seat like he is the king of the road, and helps me do brake pad changes....

who says its not a family thing?????

Bull

If you and your wife a fine with the situation, who cares what others say or think???? It just doesn't matter what they "would do". When one of those people who don't seem to be able to stay out of your business says something to you, very pleasantly reply with... "Excuse me, but you seem to have mistaken me for someone who gives a sh*t what you think". It will pay dividends for many years to come!

TMc993

Since you chose to marry this woman and you and she chose to have this child, you and she have the responsibility of seeing to it that you, she, and your child(ren) are healthy, happy, safe, and become contributing members to society. How you two do that is your business. Rest assured that no matter what you do, people will second guess you, usually because they were inadequate at exactly what you are accomplishing. If your wife is truly supportive in your buying a 993, enjoy it guilt free. Those who live joyless lives become joyless people.

MarkD

AND the interest earned on a 529 comes out TAX FREE if used for education!
Can't beat it.

brucec59

I got my 993 when my son was 14 months old. But I had been actively searching and looking at Porsches for some time before he was born. I thought that I'd have to put my quest on hold for a few years, but my wife and I decided that if it was something I really wanted, and it would make me happy, that I should go ahead. I'm glad I did. I enjoy it every day.

Unlike some of you, I don't see the 911 as a family car. Yes, we could all fit, but we have a Toyota Highlander, which is much more comfortable and holds much more stuff.

As far as what other people think, just do what I do. Smile and say, "It was a gift. From your mama."

MikeAlwaysWins

Life is too short to be concerned with what others think... I got my first P-Car before my first house and shortly after my first son was born. It's what I wanted and motivated me to excell. 17 homes and 18 P-cars later, I'm still at it, married to the same woman for 39 years and lovin life...

Edit: I forgot to add that my son's both drive 911's too.... I wonder why?

Air Kuul TT

Awesome Mike!!! I hope that's me some day

MikeAlwaysWins

Thanks, Tony.... you're definately on the right track....