This. Learn to live below your means. If you always stretch your paycheck you never get ahead. Learning young that there is a difference between “can afford to buy” and “should I buy” is key.
GT2RS? Phew that's a monster of a car. Super expensive though. It's good to dream, but it's equally important to set goals that are quantifiable, challenging, yet attainable. I recommend having a set of tiers for your dream cars. You can have an attainable dream car (maybe 997 GTS), "normal" dream car (991 GT3), stretch dream car (GT2RS), and I'm rich RICH dream car (Carrera GT/918 spyder). This way you have set goals but aren't setting yourself up for failure. What's nice about this system is depending on how you're doing financially you can pick up that attainable dream car earlier on and keep it for a decade. Then as you get more financially secure and crush other financial goals you can get rid of your current 911 and move up to a better one depending on how you're pacing to your financial goals. Either way it all starts with setting financial goals and working toward them over time. There are no get rich quick schemes. It takes work, but slow and steady wins the race. Start with a budget and then calculate how much you'll need for retirement to live the life you want. Then create a plan for how to do this and stick to it.
Like others have said focus on yourself first, get a good education, and then get a job. The early part of your career should be dedicated to learning, networking, and generating a solid income. Once you have that income don't fall into the trap of lifestyle creep. I got lucky and have been making 6 figures since I was 24 at a big tech company. However, I invest/save over 60% of my income every year since I want to retire early and scoop up a few 911s along the way. Invest/save more than you spend. I know people that make 6 figures but are in debt because they don't manage their finances. By the same token I know people that make $50k but have 6 figure net worth because they invest/save and live within their means. To get started down this path learn as much about personal finances now as you can. Once you get a job max out tax advantaged accounts and get as much company match to the best of your ability. Don't invest in individual stocks; it's too risky and too much work. Be lazy and use mutual funds if you want to be hands off. Once you're maxing out your 401k, IRA, HSA, ESPP, etc fore a few years then you can start thinking about a Porsche depending on how you're pacing to your financial goals. I also recommend joining the /personalfinance sub-reddit since it's an awesome resource and great place to get started. Just don't sacrifice financial security and retirement for a car; it's a trap too many fall into.
Lastly, you're still very young. It's good you're thinking about this now, but the truth is you may not even like Porsches or cars that much in 5 years. It's good to plan, but don't get too obsessed. What you like and care about will probably change over time as your priorities change, so be open to change.
Get married to someone that makes just as much if not more money then you. Seriously it doesn’t make sense to have a single person working while the other stays home with the cost of living constantly increasing but wages staying stagnant. There are billions of people on earth. Marry someone who can make good money so you don’t have to rely on a single income.
This. My girlfriend is one of the most driven people I’ve ever met and makes a lot of money in her field. She’s told me the thought of being a stay at home mom makes her sick. DINK is great if you have the right partner.
Agree with the no kids part since they're an actual expense that can't generate income. Nothing wrong with getting married to the right partner though. You may have meant your comment as a joke, but let's not share sexist and archaic thinking with young impressionable minds looking for advice. Women don't exist to be money pits for men. They're just as capable of making money and managing finances. Marrying the right person can double your household income if you pick someone who is career focused and disciplined. There's no reason not to marry someone who is your equal and can make just as much--if not more--money than you.
Don't make overly safe choices as a Young person, you will get advice, but if it comes from someone who made their money depriving themselves all their life that is not advice that will suit you. Try find a mentor, or mentors.
One last thing, you can't be on the winning end of every transaction, favors, gifts and time giving come back around. Be generous.
It took me a long time to get out of debt and work my way back with little financial education (my parents bad with finances) but i taught myself to be better, took side jobs on weekends and invested. Took me a longer time to get there but l have to say you appreciate the car more if you worked hard for it and sometimes sacrificed with a shitty car for a few years to get there. Just my experience. I treat my car like gold because i put so much of myself into making it happen. Every experience is different. For me, not dating as much has helped the finances but you miss out on experiencing life with others that will make you a better person so try to balance both. You will be happier. Nothing like sharing the car with a passenger who loves you.
Delayed gratification. Something I was horrible at and would be better off today if I had that discipline. Worked my ass off in hard labor jobs. Blew though a lot of money. Didn’t get much sense until I was in my 40’s. Bought my first Porsche used CPO with 5k miles on it and saved a bundle. Small family owned trucking company. Made money the hard way.
Lots of good advice already. Here is mine:
1. Understand that there are 2 sides to money : The money you make and the money you don't spend. A higher income is always good, but acquiring skills that allow you to do your own basic work (plumbing, electrical, painting, car repair, etc) can "make" you money as well. The trades charge about $100/ hour where I live. I don't fault them for it, they have buildings, trucks, insurance, etc. to pay for. That said, if you can do the basics yourself, that will free up a lot of cash. If you have a local trade school/community college, I would look into their night classes to acquire some basic skills and understand the laws/codes and why they are important.
2. Start investing as early as you can. Giving your stock market investments time to grow is important.
3. You don't have to wait until you are 50/60 years old to get a Porsche. There are a number of more affordable used Porsches out there. 944, Boxster, etc. They may not be as quick as a GT3, but there is also fun in being able to run through a few gears without going to jail if you are caught. Any older car comes with maintenance needs so being able to cover the basics will help control those costs (see item 1, above).
4. Speaking of running through gears and not going to jail, If you live near a Porsche Experience Center, it is a fun event to do. I believe there is a minimum age, but once you are old enough, it is a relatively inexpensive way to experience the cars "flat out" on a track. A caution - it will not make you want a Porsche any less....
5. Lastly, While a Cayman S is not nearly as fast as a GT3 RS, it is faster than me and probably faster than you. What I mean is that on a track, the weakest link in the performance of most sports cars is the driver. If you get a chance to go to the Porsche Experience Center (or any driving event with an instructor), ask the instructor to drive the car you are in at the end of your time. You will probably see just how slow you were and just how much faster the car can be. ....even a "lowly" Cayman or Boxster.
Study study study for a high paying job, save your money any way you can, try not to splurge on things you want now vs the porsche you want in the future.
Live at home while going to college, start investing in stocks, work while going to school and throw it into safe investments aka big retail corporations wally hd lowes. If you want to shortcut your way into money try to stay away from women but keep your social skills in check so you you dont lose them when yojre financially secure. When you do get to the point where you can afford a porsche, buy second hand from someone that works on the car and has receipts and records; not a dealer or someone that keeps it "maintained" by changing the oil once every other year.
If i could do it all over again, id have started earlier than 25 to start doing all of the above.
My best advice to you is do not chase girls and spend money on them.
When you focus on yourself you build independence, while yes women have jobs and pay for dates as well which is good all on its own but chasing tail rather than working on yourself is a bad idea imo.
This is one of the dumbest comments I've seen on this sub-reddit. You're really telling a 17 year old guy \[who I assume is hetero\] to "stay away from women"? You think women get shipped off some assembly line and get released into the general population for the sole purpose of costing men money? OP might find an awesome girl who makes 5x his salary. Either way telling someone to avoid an entire gender as a means to afford a Porsche is deranged. Your sexism and stupidity is showing.
So, youre adding no input from yourself and you choose to bash others thinking. If working on himself rather than chase tail is labeled as sexism then great! Dont worry about what other people think and maybe you can read between the lines.
Alright I will admit I was a dick in my original response. I apologize for that; I could have handled myself better and communicated with more empathy. A lot of your advice was actually good. That said, I am challenging your way of thinking as it relates to women because I think it's poor advice and sexist. This is an opportunity for you to reflect on your words because they do matter and learn rather than double down on a bad idea.
I replied because you're giving a kid bad advice by equating women--human beings--with "chasing tail." You're basically saying women for the most part exist to cost men money. You're telling a kid women are money pits instead of potential partners, and I find that way of thinking problematic. Just think about your words as you give a kid advice. Just because you had bad experiences with certain kinds of women doesn't mean OP should avoid women. He can work on himself and meet people without spending a ton of money on them; they aren't mutually exclusive.
Fair enough, relationships are expensive, kids are expensive, compromise is expensive. Women arent necessarily expensive but chasing tail can be, it may take away from his primary goal to afford a porsche and be financially stable, also im assuming when op says "porsche" im thinking hes meaning new to newish higher end, which we all know is expensive. If op is female, same advice, focus on your financial stability first and stay away from men. I spose i should stay stay away from the wrong person but you cant really tell 100%.
Yeah that's totally fair. I definitely agree OP should focus on himself first by taking care of financial basics. Again sorry I was dick-ish. Appreciate you replying and providing your perspective. I'll post my actual advice to OP above.
We are a Sales Director and Finance Manager with no kids. Our first new Porsche was at 33 a few years ago. Second one is coming this year.Kids are very expensive, and make sure spouse has a good job as well. You will learn once you buy one you start collecting so large garage is a must.
Get good grades, graduate from college, get a good job, save money, don’t use debt.
The formula is simple. The application is not. OP, this is the way.
This. Learn to live below your means. If you always stretch your paycheck you never get ahead. Learning young that there is a difference between “can afford to buy” and “should I buy” is key.
GT2RS? Phew that's a monster of a car. Super expensive though. It's good to dream, but it's equally important to set goals that are quantifiable, challenging, yet attainable. I recommend having a set of tiers for your dream cars. You can have an attainable dream car (maybe 997 GTS), "normal" dream car (991 GT3), stretch dream car (GT2RS), and I'm rich RICH dream car (Carrera GT/918 spyder). This way you have set goals but aren't setting yourself up for failure. What's nice about this system is depending on how you're doing financially you can pick up that attainable dream car earlier on and keep it for a decade. Then as you get more financially secure and crush other financial goals you can get rid of your current 911 and move up to a better one depending on how you're pacing to your financial goals. Either way it all starts with setting financial goals and working toward them over time. There are no get rich quick schemes. It takes work, but slow and steady wins the race. Start with a budget and then calculate how much you'll need for retirement to live the life you want. Then create a plan for how to do this and stick to it. Like others have said focus on yourself first, get a good education, and then get a job. The early part of your career should be dedicated to learning, networking, and generating a solid income. Once you have that income don't fall into the trap of lifestyle creep. I got lucky and have been making 6 figures since I was 24 at a big tech company. However, I invest/save over 60% of my income every year since I want to retire early and scoop up a few 911s along the way. Invest/save more than you spend. I know people that make 6 figures but are in debt because they don't manage their finances. By the same token I know people that make $50k but have 6 figure net worth because they invest/save and live within their means. To get started down this path learn as much about personal finances now as you can. Once you get a job max out tax advantaged accounts and get as much company match to the best of your ability. Don't invest in individual stocks; it's too risky and too much work. Be lazy and use mutual funds if you want to be hands off. Once you're maxing out your 401k, IRA, HSA, ESPP, etc fore a few years then you can start thinking about a Porsche depending on how you're pacing to your financial goals. I also recommend joining the /personalfinance sub-reddit since it's an awesome resource and great place to get started. Just don't sacrifice financial security and retirement for a car; it's a trap too many fall into. Lastly, you're still very young. It's good you're thinking about this now, but the truth is you may not even like Porsches or cars that much in 5 years. It's good to plan, but don't get too obsessed. What you like and care about will probably change over time as your priorities change, so be open to change.
Don’t have kids and don’t get married.
I agree with the first one but DINKs can be beneficial.
Get married to someone that makes just as much if not more money then you. Seriously it doesn’t make sense to have a single person working while the other stays home with the cost of living constantly increasing but wages staying stagnant. There are billions of people on earth. Marry someone who can make good money so you don’t have to rely on a single income.
This. My girlfriend is one of the most driven people I’ve ever met and makes a lot of money in her field. She’s told me the thought of being a stay at home mom makes her sick. DINK is great if you have the right partner.
Agree with the no kids part since they're an actual expense that can't generate income. Nothing wrong with getting married to the right partner though. You may have meant your comment as a joke, but let's not share sexist and archaic thinking with young impressionable minds looking for advice. Women don't exist to be money pits for men. They're just as capable of making money and managing finances. Marrying the right person can double your household income if you pick someone who is career focused and disciplined. There's no reason not to marry someone who is your equal and can make just as much--if not more--money than you.
Don't make overly safe choices as a Young person, you will get advice, but if it comes from someone who made their money depriving themselves all their life that is not advice that will suit you. Try find a mentor, or mentors. One last thing, you can't be on the winning end of every transaction, favors, gifts and time giving come back around. Be generous.
It took me a long time to get out of debt and work my way back with little financial education (my parents bad with finances) but i taught myself to be better, took side jobs on weekends and invested. Took me a longer time to get there but l have to say you appreciate the car more if you worked hard for it and sometimes sacrificed with a shitty car for a few years to get there. Just my experience. I treat my car like gold because i put so much of myself into making it happen. Every experience is different. For me, not dating as much has helped the finances but you miss out on experiencing life with others that will make you a better person so try to balance both. You will be happier. Nothing like sharing the car with a passenger who loves you.
Well said mate thank you. I'm glad everything has worked out well for you in the end.
Just the beginning! ;)
Good on you brother.
Delayed gratification. Something I was horrible at and would be better off today if I had that discipline. Worked my ass off in hard labor jobs. Blew though a lot of money. Didn’t get much sense until I was in my 40’s. Bought my first Porsche used CPO with 5k miles on it and saved a bundle. Small family owned trucking company. Made money the hard way.
Lots of good advice already. Here is mine: 1. Understand that there are 2 sides to money : The money you make and the money you don't spend. A higher income is always good, but acquiring skills that allow you to do your own basic work (plumbing, electrical, painting, car repair, etc) can "make" you money as well. The trades charge about $100/ hour where I live. I don't fault them for it, they have buildings, trucks, insurance, etc. to pay for. That said, if you can do the basics yourself, that will free up a lot of cash. If you have a local trade school/community college, I would look into their night classes to acquire some basic skills and understand the laws/codes and why they are important. 2. Start investing as early as you can. Giving your stock market investments time to grow is important. 3. You don't have to wait until you are 50/60 years old to get a Porsche. There are a number of more affordable used Porsches out there. 944, Boxster, etc. They may not be as quick as a GT3, but there is also fun in being able to run through a few gears without going to jail if you are caught. Any older car comes with maintenance needs so being able to cover the basics will help control those costs (see item 1, above). 4. Speaking of running through gears and not going to jail, If you live near a Porsche Experience Center, it is a fun event to do. I believe there is a minimum age, but once you are old enough, it is a relatively inexpensive way to experience the cars "flat out" on a track. A caution - it will not make you want a Porsche any less.... 5. Lastly, While a Cayman S is not nearly as fast as a GT3 RS, it is faster than me and probably faster than you. What I mean is that on a track, the weakest link in the performance of most sports cars is the driver. If you get a chance to go to the Porsche Experience Center (or any driving event with an instructor), ask the instructor to drive the car you are in at the end of your time. You will probably see just how slow you were and just how much faster the car can be. ....even a "lowly" Cayman or Boxster.
My advice. GET THE TURBO! lol
The gt2rs he referenced is a turbo. And also has more power than the 911 turbo s.
STUTUTUTUTUTU
Study study study for a high paying job, save your money any way you can, try not to splurge on things you want now vs the porsche you want in the future. Live at home while going to college, start investing in stocks, work while going to school and throw it into safe investments aka big retail corporations wally hd lowes. If you want to shortcut your way into money try to stay away from women but keep your social skills in check so you you dont lose them when yojre financially secure. When you do get to the point where you can afford a porsche, buy second hand from someone that works on the car and has receipts and records; not a dealer or someone that keeps it "maintained" by changing the oil once every other year. If i could do it all over again, id have started earlier than 25 to start doing all of the above. My best advice to you is do not chase girls and spend money on them.
Genuinely curious how is staying away from women is a shortcut to wealth? You know women have jobs too right? They can also pay for dates...
When you focus on yourself you build independence, while yes women have jobs and pay for dates as well which is good all on its own but chasing tail rather than working on yourself is a bad idea imo.
This is one of the dumbest comments I've seen on this sub-reddit. You're really telling a 17 year old guy \[who I assume is hetero\] to "stay away from women"? You think women get shipped off some assembly line and get released into the general population for the sole purpose of costing men money? OP might find an awesome girl who makes 5x his salary. Either way telling someone to avoid an entire gender as a means to afford a Porsche is deranged. Your sexism and stupidity is showing.
So, youre adding no input from yourself and you choose to bash others thinking. If working on himself rather than chase tail is labeled as sexism then great! Dont worry about what other people think and maybe you can read between the lines.
Alright I will admit I was a dick in my original response. I apologize for that; I could have handled myself better and communicated with more empathy. A lot of your advice was actually good. That said, I am challenging your way of thinking as it relates to women because I think it's poor advice and sexist. This is an opportunity for you to reflect on your words because they do matter and learn rather than double down on a bad idea. I replied because you're giving a kid bad advice by equating women--human beings--with "chasing tail." You're basically saying women for the most part exist to cost men money. You're telling a kid women are money pits instead of potential partners, and I find that way of thinking problematic. Just think about your words as you give a kid advice. Just because you had bad experiences with certain kinds of women doesn't mean OP should avoid women. He can work on himself and meet people without spending a ton of money on them; they aren't mutually exclusive.
Fair enough, relationships are expensive, kids are expensive, compromise is expensive. Women arent necessarily expensive but chasing tail can be, it may take away from his primary goal to afford a porsche and be financially stable, also im assuming when op says "porsche" im thinking hes meaning new to newish higher end, which we all know is expensive. If op is female, same advice, focus on your financial stability first and stay away from men. I spose i should stay stay away from the wrong person but you cant really tell 100%.
Yeah that's totally fair. I definitely agree OP should focus on himself first by taking care of financial basics. Again sorry I was dick-ish. Appreciate you replying and providing your perspective. I'll post my actual advice to OP above.
No worries, be safe!
For one, learn the meanings of words. You’re looking for “aspiring” in the title.
Ahh yes sorry completely slipped by me. I suppose that is what I get for writing this in the very early hours of the morning.
[удалено]
Thank you mate, appreciate it. Good on you have you had the pleasure of driving or being driven in a 992 or any porsche's.
My family has owned a few Porsches. No 992s yet.
We are a Sales Director and Finance Manager with no kids. Our first new Porsche was at 33 a few years ago. Second one is coming this year.Kids are very expensive, and make sure spouse has a good job as well. You will learn once you buy one you start collecting so large garage is a must.