can i buy my sportscar?

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Re: can i buy my sportscar?

Postby madbrain » Thu Mar 28, 2013 8:35 pm

Call Suze Orman and find out.
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Re: can i buy my sportscar?

Postby Allan » Thu Mar 28, 2013 8:42 pm

Absolutely do it! What's money for if you can't enjoy it. My mid-life crisis came a little later, I bought a new John Deere tractor with all of the implements. Couldn't be happier.

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Re: can i buy my sportscar?

Postby eucalyptus » Thu Mar 28, 2013 8:57 pm

"993 Turbo with 408 HP or the 993 Turbo S with 450 HP"

I am in the very small minority preferring the 964s. But getting a 993 turbo S at anywhere $75k seems hopeless to me, those are very special cars. I've seen turbos under $100k.

I also like the SCs. Have they not participated in the insanity currently hitting the collector market?
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Re: can i buy my sportscar?

Postby RenoJay » Thu Mar 28, 2013 9:15 pm

Do it, man, and congrats that this appears to be your only silly financial decision. Sounds like you've been very sensible otherwise. I have a high net worth and plan to treat myself to an unjustifiable journey into space (cost = $200k) when I turn 50.
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Re: can i buy my sportscar?

Postby sscritic » Thu Mar 28, 2013 9:15 pm

Do you already own a Rolex?

First things first.
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Re: can i buy my sportscar?

Postby TOM1964 » Thu Mar 28, 2013 9:24 pm

"Had a few big hits in the market and some lucky (very lucky) market timing."

And you are on Bogleheads...why?
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Re: can i buy my sportscar?

Postby smiley » Thu Mar 28, 2013 9:48 pm

i too have been porsche shopping for a cpo 911 4 or 4s convertible for a little while. rather than buying outright, there are 1.9% finance deals (up to 60 months) for cpo. i'm starting to sound like a dealer.

have you convinced your wife? if so, how? i could use some pointers.

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Re: can i buy my sportscar?

Postby Khanmots » Thu Mar 28, 2013 9:50 pm

TOM1964 wrote:"Had a few big hits in the market and some lucky (very lucky) market timing."

And you are on Bogleheads...why?

Because he realizes that he was very lucky? And doesn't want to lose it all the same way?
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Re: can i buy my sportscar?

Postby sambb » Thu Mar 28, 2013 10:03 pm

Thats right. I was lucky twice. Very lucky. A few big gains. But now im in my 40s and i think target retirement funds make sense to me and prevent me from doing stupid things. Ijust invest it and forget it. Bogleheads scares me into saving.
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Re: can i buy my sportscar?

Postby momar » Thu Mar 28, 2013 10:17 pm

Dulocracy wrote:I will be blunt. Sure, you can afford it, but should you? If you died tomorrow, would your family be ok until your wife dies and your children are out of college? If they would be even if you bought the car, go for it. If not, try a less expensive fun car. I am not the type to deprive myself of everything in saving for tomorrow. I do, however, believe that I have a responsibility to my family. I wanted to splurge, and I got a $20,200 Volkswagon Jetta new. I will drive it for about 8 years. It is fun to drive (and I drive a lot to commute to work), but it is reliable. I bought new because an old car of mine was used and had some problems. I am willing to take some depreciation to know how the car is maintained. I am not, however, going to sacrifice my family's security for a car.

If you bought the car and you believe they would still be taken care of, then it is NOT irresponsible. If they would suffer if you bought it and died the next day, consider a less expensive but also fun vehicle.

This is what insurance is for.
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Re: can i buy my sportscar?

Postby thirdman » Fri Mar 29, 2013 12:01 am

I am considering a manual Cayman, Scion FRS, or BMW 128. They are fun to drive and match my level of driving skill. I would consider a Miata, but i don't want a convertible. OK, the Cayman is probably beyond my skill level.

Edit. I forgot, maybe a GTI with the DSG.
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Re: can i buy my sportscar?

Postby FlyOverState » Fri Mar 29, 2013 12:30 am

I would get a late 996 GT3 (2003 - 2004). Join the Porsche Club of America, go to the track and drive it like you stole it. The 996 gets a bad rap, but the GT3 will hold it's value. You can find nice examples now under $50k.

Enjoy.
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Re: can i buy my sportscar?

Postby OnFire » Fri Mar 29, 2013 1:53 am

Go to Swap-A-Lease.com. There are a TON of luxury German cars on there from people who stretched to get a Porsche or BMW and couldn't afford the payments and want out. I've seen cars on there with terms as short as three months. Pick out something you wouldn't mind owning. Drive it for 6-13 months. Of you love it, excercise the buy option on the lease. If not you spent 5-10K and had a ton of fun, and learned it a little less expensively.

I just picked up a 2012 GMC Acadia, well equipped, (AWD, heated seats, etc) for $388 a month for 25 months. I plan on buying it out.
Where are all the customers yachts?
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Re: can i buy my sportscar?

Postby sambb » Fri Mar 29, 2013 7:01 am

I wouldnt lease. I would just but. My point of the op is to see if i can afford it and what the downsideis of hhaving mu xream. Thanks. Looks like i can buy based on objective opinions here.
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Re: can i buy my sportscar?

Postby lwfitzge » Fri Mar 29, 2013 7:39 am

Go for it! I've been a BMW guy for years (335i coupe is my current ride) but I'd love to own a 911. :twisted:
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Re: can i buy my sportscar?

Postby HardKnocker » Fri Mar 29, 2013 8:22 am

You're 43 years old. Make up your own mind.
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Re: can i buy my sportscar?

Postby spowsincharge » Fri Mar 29, 2013 8:39 am

I'll provide my .02 coming from a spouse whose husband is totally a car guy. I'm thankful, though, that he doesn't follow through with any purchases and he's quite reasonable, having just two cars in the 13 years that we've been together. The current car he has was a big purchase for him (and me) as he wanted a high performance vehicle after owning his Nissan Maxima for 11 years. Our promise to eachother when we got married (knowing he was a car guy) was that he would never spend more than a certain amount and he would never buy new. We both agreed that he could get the vehicle and he searched for months for the right one at the right price. He finally found the car he wanted and bought it (3 years ago) and has loved it every day he's had it.

The nice thing about this whole experience, he's stopped bugging me :wink: about getting a new car and has not once brought it up since he bought it. In addition, it is quite nice knowing that I can press the gas pedal and beat almost anyone off the line at the red light. It provides "free" entertainment when I see the faces on the other drivers as I race past them.

You only live once. If you are meeting your retirement goals then do whatever it is that will bring more joy to your life.
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Re: can i buy my sportscar?

Postby enderland » Fri Mar 29, 2013 9:13 am

You could buy this one for pretty cheap.

I bought my brother a car for Christmas, though, I went with a HotWheels one instead.
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Re: can i buy my sportscar?

Postby leod » Fri Mar 29, 2013 10:16 am

buy a 5K watch first, then buy the car
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Re: can i buy my sportscar?

Postby InvestorNewb » Fri Mar 29, 2013 10:21 am

Fancy cars are nice but what if you bump or scratch it? The odd time I have bumped into a side post in my parking garage and I am thankful at the time to not own a luxury vehicle.

I get more pride from having a large bank account than I do from buying expensive/nice things. All I want is the freedom to not have to work every day if I choose not to.
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Re: can i buy my sportscar?

Postby leod » Fri Mar 29, 2013 10:28 am

the OP already has a big bank account, if you dont spend some of it then your heirs will
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Re: can i buy my sportscar?

Postby Dulocracy » Fri Mar 29, 2013 1:01 pm

stoptothink wrote:
Dulocracy wrote:If you bought the car and you believe they would still be taken care of, then it is NOT irresponsible.


If you read the OP, you'd realize that is exactly the case.


I did read the OP, but he did not say he knew his family would be ok if he died tomorrow. It looks like he would be from the outside, but only he can make that judgment call. Unless my wife has passive income of $100,000 a year (adjusted upward for inflation from 2010), I would not personally feel comfortable. That may seem asenine to some. Each person must identify their own overall goals.

Like I said, if he thinks they are taken care of, it is not irresponsible. If not yet, it is not time for the new car.
I'm not a financial professional. Post is info only & not legal advice. No attorney-client relationship exists with reader. Scrutinize my ideas as if you spoke with a guy at a bar. I may be wrong.
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Re: can i buy my sportscar?

Postby jdb » Fri Mar 29, 2013 1:24 pm

Buy a Tesla Model S, performance version. It's got four doors and plenty room for 5, so you can sell the Camry and drive it every day. More fun and practical than small Porsche in my opinion and almost equal performance. Also easier to get in and out, know too many guys who drove 911's for years now with back problems. Plus get $7500 tax credit from Uncle Sam. And go green. Also get HOV and express lane access in most jurisdictions.
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Re: can i buy my sportscar?

Postby VictoriaF » Fri Mar 29, 2013 1:27 pm

leod wrote:buy a 5K 8K watch first, then buy the car
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Re: can i buy my sportscar?

Postby stoptothink » Fri Mar 29, 2013 1:47 pm

Dulocracy wrote:
stoptothink wrote:
Dulocracy wrote:If you bought the car and you believe they would still be taken care of, then it is NOT irresponsible.


If you read the OP, you'd realize that is exactly the case.


I did read the OP, but he did not say he knew his family would be ok if he died tomorrow. It looks like he would be from the outside, but only he can make that judgment call. Unless my wife has passive income of $100,000 a year (adjusted upward for inflation from 2010), I would not personally feel comfortable. That may seem asenine to some. Each person must identify their own overall goals.

Like I said, if he thinks they are taken care of, it is not irresponsible. If not yet, it is not time for the new car.


Net worth of $3m+, saving $125k a year...I think the family might figure out how to make it if he purchases a $75k car.
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Re: can i buy my sportscar?

Postby Dulocracy » Fri Mar 29, 2013 1:56 pm

stoptothink wrote:
Net worth of $3m+, saving $125k a year...I think the family might figure out how to make it if he purchases a $75k car.


If that is the case, then the advice I gave is valid: it is not irresponsible.

If that is not the case (for example, he felt that he needed to reach $5m in assets to feel that his family is safe if he dies, then I stand by my advice: it is not time to buy the car.

As a member of an accountability group, we keep each other on task. If I were to ask if vacation would be ok for me, they know my budget. If I want to fly to Japan, they would say no based on my stated goals, even though I can afford it. If I said that I wanted to go to the beach, they would likely say to go ahead. Likewise, not knowing his goals, even if he seems rich to me, it may not be adviseable to him. My assumption is, of course, that he was actually asking the question and not showing off how well he has done. (Which is admittedly very well). Therefore, my advice was an answer based not on my view of how wealthy he was, but on his goals and feelings about his situation. Only the OP can evaluate that, as he did not give us the requisite information to hold him accountable. Therefore, I simply offered the test that we would use in my accountability group.

Hope that makes sense!
I'm not a financial professional. Post is info only & not legal advice. No attorney-client relationship exists with reader. Scrutinize my ideas as if you spoke with a guy at a bar. I may be wrong.
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Re: can i buy my sportscar?

Postby dbphd » Fri Mar 29, 2013 2:23 pm

I addressed my mid-llife crisis with an affair with a much younger women, which don't recommend, and Ferraris, which I do recommend. The sound of a mid-60s 12 cylinder Ferrari is intoxicating. There is a lot to be said for a sports car that can be fun at reasonable speeds, so I recommend a '65 Porsche 356 SC cabriolet. It will cost more to buy than the car OP is looking at, but maintenance will be much less and it is likely to appreciate in value. It can even be considered an investment.

At 77, I drive a 2000 Porsche Boxster S which, along with a Lotus Elan I had as a grad student, is the best handling car I've ever driven. We live at the Santa Barbara coast, an ideal area for open cars.

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Re: can i buy my sportscar?

Postby Bounca » Fri Mar 29, 2013 2:31 pm

You have two kids and want a Porsche. One of your kids name isn’t Joel is it? I would be concerned, if so.
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Re: can i buy my sportscar?

Postby westie » Fri Mar 29, 2013 2:42 pm

43..huh......if you were a hamburger patty they would have flipped you on the grill....go buy the car...
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Re: can i buy my sportscar?

Postby sambb » Fri Mar 29, 2013 4:20 pm

I have life insurance in case of death.
The idea is, I think I can afford it, but i trust the board alot.
I think I am going to buy this spring as soon as I locate a silver one - I dont want black
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Re: can i buy my sportscar?

Postby MoonOrb » Fri Mar 29, 2013 6:18 pm

Also endorsing the idea of buying a Miata which should give you a huge amount of what you want for a fraction of the price. I own a Miata and think it's fantastic.

If what you're in love with is the *idea* of owning a Porsche, then don't bother with the Miata. But if it's more about the experience of having a terrifically fun, sporty convertible, the Miata delivers a huge amount of value for its price compared to other options. It's fun to drive. It's also not a Porsche. But, in a few years if the shine wears off the idea of owning a sports car, you won't be out a huge amount of money. You can just sell the Miata and buy another Camry. If, in a few years, you're still really keen to own a Porsche, sell the Miata and buy a Porsche and you won't be out a huge amount of money, in that case, either, plus you'll have the security of knowing that you are really, truly buying something you aren't going to regret. And it sounds like you don't have that security right now.
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Re: can i buy my sportscar?

Postby Kurmudjon » Fri Mar 29, 2013 6:20 pm

Good for you -- buy the car -- enjoy -- sometimes amazed at my fellow boeglehead's inability to spend money.
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Re: can i buy my sportscar?

Postby investingdad » Fri Mar 29, 2013 6:23 pm

MoonOrb wrote:Also endorsing the idea of buying a Miata which should give you a huge amount of what you want for a fraction of the price. I own a Miata and think it's fantastic.

If what you're in love with is the *idea* of owning a Porsche, then don't bother with the Miata. But if it's more about the experience of having a terrifically fun, sporty convertible, the Miata delivers a huge amount of value for its price compared to other options. It's fun to drive. It's also not a Porsche. But, in a few years if the shine wears off the idea of owning a sports car, you won't be out a huge amount of money. You can just sell the Miata and buy another Camry. If, in a few years, you're still really keen to own a Porsche, sell the Miata and buy a Porsche and you won't be out a huge amount of money, in that case, either, plus you'll have the security of knowing that you are really, truly buying something you aren't going to regret. And it sounds like you don't have that security right now.

2004 Mazdaspeed Miata owner here.

21k.
Turbocharged.
Fun.
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Re: can i buy my sportscar?

Postby mike143 » Fri Mar 29, 2013 8:19 pm

sambb wrote:
Chan_va wrote:You deserve a fun car, but why buy new? Expensive sports card depreciate like a brick. What sports car are you looking at? Bet you can find one a few years old for half the price or less.

It is a 911 carrera 4s, 2011, 5k miles. yes, used. new is 115k-125k!

My buddy recently bought a 09 Carrera 4S....very fast...let me drive it... stay safe.
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Re: can i buy my sportscar?

Postby sambb » Fri Mar 29, 2013 8:58 pm

Kurmudjon wrote:Good for you -- buy the car -- enjoy -- sometimes amazed at my fellow boeglehead's inability to spend money.


I understand this board, frugality is a good thing, and has served me well.
I read the millionaire next door when it came out. Came on to it by chance, but after reading it, it gave me a perspective on things. I think it helped me stay frugal, but still enjoy life to some degree. However, lost in all of it, is the idea that you can't do much with a lot of money except pass it on to heirs. I certainly want to pass money on to my kids, but once in a while, there is no real direction to splurge.

Frugality I think has been very important for us. We still use coupons, and my wife buys clothes at target, not at the expensive mall. We still buy clothes for our kids at old navy. Sure, we could be much more frugal, but our social colleagues spend much more, and I bet we have saved much more.

I guess I am trying to figure out, when it is ok to splurge. I am in my low 40s, and I dont want to just save for the sake of saving and not have any fun. I dont care what anyone says, it is sometimes more fun to have a nice car, a nice vacation spot, a nice dinner with a good bottle of wine. And sometimes it is nice to buy regular pepsi instead of the store brand from sam's club. So, I have wanted a nice car like this for awhile, and I dont think it will affect us financially at all, but some of you have been really good about adding guilt or perhaps even ruining fun out of concern. I am the same way, but I fear that you have added an irrational amount of buyer's remorse - before it has happened yet!

After reading and re-reading all the posts, I am thinking about taking a step back, and going back down to the 35k level for a used boxster, and seeing how it goes.

Bogleheads are very good about criticizing consumption, but philosophically, I wonder what the value of money is, if once in a rare while, you can't "live a little".

THanks to all.
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Re: can i buy my sportscar?

Postby mike143 » Sat Mar 30, 2013 6:04 am

sambb wrote:After reading and re-reading all the posts, I am thinking about taking a step back, and going back down to the 35k level for a used boxster, and seeing how it goes.

If you think you will have a sports cars for a while understand this is a stepping stone into the 911. If you think this is just a temporary itch you have to scratch then get a 911 near that price point and be done.
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http://cgi.ebay.com/ebaymotors/2002-Por ... 19da847b92
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Re: can i buy my sportscar?

Postby tphp99 » Sat Mar 30, 2013 7:09 am

sambb wrote:After reading and re-reading all the posts, I am thinking about taking a step back, and going back down to the 35k level for a used boxster, and seeing how it goes.


This is a financial forum - not a car enthusiast site. Financialy, you've got most OKs from this site - and that's huge.

But what is it that you're looking for in a car? Price target of $100K and $30K will get you very different levels of performance in a sports car.

If you're talking 911, the performance of a new 991 or lightly used 997 vs a 996 is huge. If you're truly into cars, I doubt you'd still be driving a Camry.

Which brings us back to $ - are you just looking to blow some cash? I still say go for it, and enjoy. :sharebeer
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Re: can i buy my sportscar?

Postby lightheir » Sat Mar 30, 2013 7:16 am

ocdokie wrote:I understand you wanting that car. In my mid-40's mid-life crisis, I bought a 2-year-old Porsche Boxster (Guard Red convertible with red brake calipers, thank you very much). I intended to keep the car for at least 10 years, which is usual for me. Unlike you, though, DH and I had no debt and no kids. Neither of us had ever had a convertible, and we loved that and the car's excellent handling. It was a sheer pleasure to drive, and just listening to the growl of the engine made me smile. We kept it pristine inside and out.

Everything was great until the winter weather hit (we bought it the previous March, so we'd had a good nine months of clear roads). It turned out that I could not drive the Porsche on snowy/icy roads -- I was terrified that I'd mess it up by crashing into something (or worse, have someone else crash into it). So, I garaged it for the next three months and brought my 12-year-old Mazda Protege out of storage for the winter.

Come March, we'd had the Porsche for a year and I decided that my mid-life crisis was over. As much as we enjoyed that car, I realized that it wasn't a practical year-round driver, so I took it back to the dealer, who bought it back for $3K less than I had paid for it. So essentially, we paid $3k for the pleasure of driving the car for 9 months. That was expensive, but we remember that car very fondly and are glad we bought it.

By the way, I drove the Mazda for another 2 years (14 in all), and it was a champ. Cheap to buy and cheap to maintain, plus great gas mileage. That's all I ask of a car these days.


I know the Boxster isn't an expensive Porsche, but I don't consider $3k for 9 months of pleasurable driving expensive at all. Even with low miles, that's pretty reasonable for the pleasure of driving a sports car, even a Boxster. Heck, you pay about that much to lease a bread and butter Prius nowadays.
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Re: can i buy my sportscar?

Postby RooseveltG » Sat Mar 30, 2013 7:52 am

Consider a weekend rental (only available in some cities). By Monday morning, you will have it out of your system. The fantasy is better than the reality.

Roosevelt.
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Re: can i buy my sportscar?

Postby MGBGTV8 » Sat Mar 30, 2013 8:09 am

Wrote a response last night, put it on ice, and decided it was better for a PM. sambb, if youre so inclined, enable PMs on your User Control Panel, and we can chat about sportscar shopping (a totally irrational and subjective purchase) from the logical practical side of things.
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Re: can i buy my sportscar?

Postby blevine » Sat Mar 30, 2013 8:24 am

Went to NY Auto Show yesterday, saw lots of brand new expensive cars, Porsche and many others.
The sheer number of fancy cars and hours of walking around looking until my legs hurt,
satisfied my interest for the time being.

They cars costing 10x what you are thinking of spending, so it must be a bargain !
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Re: can i buy my sportscar?

Postby 260chrisb » Sat Mar 30, 2013 9:16 am

Wow, this sure brings out the car crowd watching. let's focus; he's not buying it as a Camry replacement but as an occasional car. let's be clear; it's a 911, perhaps the greatest useable sports car ever built. Tires every 500 miles? Not. Buying a Toyota MR2 as a cheap replacement? Never. An early '80s 911? Only if you want to work on it. A 993 for 35K? Be very careful. A Ferrari 360? You do have the money but unless you or your neighbor named Tony can fix it you will lose a lot of sleep thinking about the cost of constant repairs and how seldom you can actually drive it......

There is no such thing as a midlife crisis so stop trying to justify the car. I own a 911 and love it to no end!! You've done well, you've got the money, go buy it. There is some depreciation left but over 8-10 years who cares?
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Re: can i buy my sportscar?

Postby lightheir » Sat Mar 30, 2013 10:03 am

sambb wrote:
Kurmudjon wrote:Good for you -- buy the car -- enjoy -- sometimes amazed at my fellow boeglehead's inability to spend money.


I understand this board, frugality is a good thing, and has served me well.
I read the millionaire next door when it came out. Came on to it by chance, but after reading it, it gave me a perspective on things. I think it helped me stay frugal, but still enjoy life to some degree. However, lost in all of it, is the idea that you can't do much with a lot of money except pass it on to heirs. I certainly want to pass money on to my kids, but once in a while, there is no real direction to splurge.

Frugality I think has been very important for us. We still use coupons, and my wife buys clothes at target, not at the expensive mall. We still buy clothes for our kids at old navy. Sure, we could be much more frugal, but our social colleagues spend much more, and I bet we have saved much more.

I guess I am trying to figure out, when it is ok to splurge. I am in my low 40s, and I dont want to just save for the sake of saving and not have any fun. I dont care what anyone says, it is sometimes more fun to have a nice car, a nice vacation spot, a nice dinner with a good bottle of wine. And sometimes it is nice to buy regular pepsi instead of the store brand from sam's club. So, I have wanted a nice car like this for awhile, and I dont think it will affect us financially at all, but some of you have been really good about adding guilt or perhaps even ruining fun out of concern. I am the same way, but I fear that you have added an irrational amount of buyer's remorse - before it has happened yet!

After reading and re-reading all the posts, I am thinking about taking a step back, and going back down to the 35k level for a used boxster, and seeing how it goes.

Bogleheads are very good about criticizing consumption, but philosophically, I wonder what the value of money is, if once in a rare while, you can't "live a little".

THanks to all.


Agree with your post. I'm super-frugal myself, but I completely agree with your sentiments that on this forums, you're going to be unpopular if you present a perspective that isn't all about saving for later, even if you can clearly afford it. It even gets extreme enough sometimes that some people here strongly advocate short-changing the quality of a high-end professional education to save a few grand a year or bypassing the education completely, which most economists say is a very bad idea even with today's college and postgrad costs.

I think you've got perspective and don't need forum advice to make this decision for yourself.
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Re: can i buy my sportscar?

Postby iceman99 » Sat Mar 30, 2013 10:17 am

sambb wrote:
Kurmudjon wrote:Good for you -- buy the car -- enjoy -- sometimes amazed at my fellow boeglehead's inability to spend money.


I understand this board, frugality is a good thing, and has served me well.
I read the millionaire next door when it came out. Came on to it by chance, but after reading it, it gave me a perspective on things. I think it helped me stay frugal, but still enjoy life to some degree. However, lost in all of it, is the idea that you can't do much with a lot of money except pass it on to heirs. I certainly want to pass money on to my kids, but once in a while, there is no real direction to splurge.

Frugality I think has been very important for us. We still use coupons, and my wife buys clothes at target, not at the expensive mall. We still buy clothes for our kids at old navy. Sure, we could be much more frugal, but our social colleagues spend much more, and I bet we have saved much more.

I guess I am trying to figure out, when it is ok to splurge. I am in my low 40s, and I dont want to just save for the sake of saving and not have any fun. I dont care what anyone says, it is sometimes more fun to have a nice car, a nice vacation spot, a nice dinner with a good bottle of wine. And sometimes it is nice to buy regular pepsi instead of the store brand from sam's club. So, I have wanted a nice car like this for awhile, and I dont think it will affect us financially at all, but some of you have been really good about adding guilt or perhaps even ruining fun out of concern. I am the same way, but I fear that you have added an irrational amount of buyer's remorse - before it has happened yet!

After reading and re-reading all the posts, I am thinking about taking a step back, and going back down to the 35k level for a used boxster, and seeing how it goes.

Bogleheads are very good about criticizing consumption, but philosophically, I wonder what the value of money is, if once in a rare while, you can't "live a little".

THanks to all.


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Re: can i buy my sportscar?

Postby momar » Sat Mar 30, 2013 10:24 am

You HAVE to get it. If you can't get one, how will I ever be able to justify getting one?
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Re: can i buy my sportscar?

Postby HardKnocker » Sat Mar 30, 2013 10:47 am

260chrisb wrote:There is no such thing as a midlife crisis


Not. I've seen too many married guys hit 40 and have affairs with 20 year olds to believe this.
“Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility.”--Warren Buffett
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Re: can i buy my sportscar?

Postby sambb » Sat Mar 30, 2013 11:07 am

I was the OP and thanks to all for answering the questions and giving perspective. I dont need any further advice on the matter, I see all sides and it makes sense to me. A friend asked me if I would buy if the market suffered a 20% decline. Now that's a great question. I think I wouldn't. So that tells me that I am not going to buy. Clearly I am not ready mentally. Bogleheads rejoice.

I think, after re-reading the posts, there is a psychology at work in spending, and just as there are extreme views that favor spending and living in debt, there are also extreme views on saving and living frugally. I live in a free country, so I understand this now, better than I did prior to posting the question.

The fact is, that frugal people like me just dont go out any buy porsches no matter how much money we have. Because we always worry about the effects. Sort of like when I was in college, I wasnt the guy who would party all night at the keg party, I'd be in bed. BUt we have to ask if we are missing out. In retrospect, I would have liked to go to a few more of the keg parties also, but that time is gone.

Again, I dont need further responses, I think all has been said here. I toast to your future properity, and thanks for all the viewpoints.
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Re: can i buy my sportscar?

Postby DAK » Sun Mar 31, 2013 10:20 am

I would do your research and then buy said vehicle. Avoiding the keg parties may have gotten you better grades which may have led to a decent job, but the extra 75K out of 3 million is likely to provide less benefit. Imagine being elderly with a 8 million portfolio...too old to travel, drive, get out of the house regularly, etc.
Youll be wishing you drove a Porsche on the weekends back when you were 43. Live a little.
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Re: can i buy my sportscar?

Postby supersharpie » Sun Mar 31, 2013 10:29 am

As long as you don't mind driving a car that screams "mid-life crisis" then go for it! You have much more saved at 43 than most will when they retire. Heck, if I have your net worth in 14 years when I turn 43 I will be retiring!
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Re: can i buy my sportscar?

Postby matjen » Sun Mar 31, 2013 11:16 am

sambb wrote:I was the OP and thanks to all for answering the questions and giving perspective. I dont need any further advice on the matter, I see all sides and it makes sense to me. A friend asked me if I would buy if the market suffered a 20% decline. Now that's a great question. I think I wouldn't. So that tells me that I am not going to buy. Clearly I am not ready mentally. Bogleheads rejoice.

I think, after re-reading the posts, there is a psychology at work in spending, and just as there are extreme views that favor spending and living in debt, there are also extreme views on saving and living frugally. I live in a free country, so I understand this now, better than I did prior to posting the question.

The fact is, that frugal people like me just dont go out any buy porsches no matter how much money we have. Because we always worry about the effects. Sort of like when I was in college, I wasnt the guy who would party all night at the keg party, I'd be in bed. BUt we have to ask if we are missing out. In retrospect, I would have liked to go to a few more of the keg parties also, but that time is gone.

Again, I don't need further responses, I think all has been said here. I toast to your future properity, and thanks for all the viewpoints.


Regarding market going down....
I was in a similar position as you about 5-6 years ago. Just coming out of a divorce and had been eyeing a Porsche for a few years before that and hadn't found the right one. Bought a 2003 Boxster S in 2007. Market tanked and I was happy as a clam that I didn't put that 35K into the market to watch it turn into 18K. I drove a fantastic car that made me happy. Just brought it out of storage yesterday. Like you, my daily driver is a Toyota (Lexus) and it now has over 200K on it. That was the promise I made to myself. One toy and keep the other car until it can't be driven any longer.

Buy the car.
A man is rich in proportion to the number of things he can afford to let alone.
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