Overanalyzing finances. What are your thoughts?
03-05-2014, 01:14 PM
#106
03-05-2014, 01:22 PM
#107
Race Car
Having a Porsche in your 20's only makes it all better. I bought my 911 at 27 (paid cash after contracting in Iraq) and felt like a rockstar. 32 now and still own the car, no regrets.
03-05-2014, 06:59 PM
#108
Nordschleife Master
I hate to be a downer, but I would not entertain a p-car if I made 64k a year unless the following had been done:
1) zero credit card debt
2) build 1yr cash reserve for emergency
3) max out 401k
4) max out Roth IRA
5) save 30% downpayment for house
Then if you leftover cash buy whatever toys you want.
1) zero credit card debt
2) build 1yr cash reserve for emergency
3) max out 401k
4) max out Roth IRA
5) save 30% downpayment for house
Then if you leftover cash buy whatever toys you want.
03-07-2014, 03:07 PM
#109
Drifting
Wow, this thread got quite popular. My two cents:
You're doing very well. Congrats on having no debt.
Save enough to have 6 months living expenses in the bank. More if you're not an engineer and will not be able to quickly get another job.
Buy a house before you buy a fancy expensive sports car.
Remember that although it's a $35K car, it still requires the maintenance of the $100K car that it once was. DIY maintenance is great, but there may be things that happen that require a pro to fix for you.
You're doing very well. Congrats on having no debt.
Save enough to have 6 months living expenses in the bank. More if you're not an engineer and will not be able to quickly get another job.
Buy a house before you buy a fancy expensive sports car.
Remember that although it's a $35K car, it still requires the maintenance of the $100K car that it once was. DIY maintenance is great, but there may be things that happen that require a pro to fix for you.
03-09-2014, 03:27 PM
#110
You can always make more money, but you can't make more time.
A good friend of mine died this year. He always wanted a sports car, never got one.
Rent a Porsche for three days and use it the way you intend to. See if, it is still your dream car. If so, find a good used 911 in your budget and get it.
You've got one life live.
A good friend of mine died this year. He always wanted a sports car, never got one.
Rent a Porsche for three days and use it the way you intend to. See if, it is still your dream car. If so, find a good used 911 in your budget and get it.
You've got one life live.
