Saying my goodbyes

[Jake D]

So I sold the car today. Decided it was the most adult decision I could make at 26. I thought about it hard and knew I probably wasn't going to be able to sink a lot of $ into it in the next year or so. I decided it was probably best to jump ship and move on, all while getting out of some debt.

I hate to see her go, but its bittersweet. I have been on here since I bought the thing 2.5 years ago and browse the site about every day. I appreciate all the advice people have given me over those quick years. Over the past 2.5 years and 30K miles I put on it I only had to replace the coolant tank and the rear vinyl window. Overall it was by far my favorite car.

The bad news is, I'm now going to be driving a 91 Ford F150 for a bit. I also finally got the title to my 63 chevy I've had for the past 6 years and have not done anything with it. I plan on getting started on that project asap. I will be sinking $ into it which could have gone towards parts for the boxster and I could have kept it. With the $ I got from the car after payoff, I will be able to completely pay off my only credit card that I have that has been driving me nuts, as well as use the left overs to fund my project truck. Overall with no car payment and no credit card payment and no boxster insurance, im going to be saving roughly $600 a month. It was the best decision I think I could have made..

Anyways just for the hell of it, here's my pos project truck I will now be working on and surfing c10forums.com.. Most of you will probably wonder why I would choose such a monstrosity to work on, but I think its a really cool older truck. It's longer than any other ones I have ever seen (thats what she said).

As is sits now...

and what I hope to end up with...

[Burg Boxster]

Jake,

Sounds like you made the smartest decision based on your circumstance. No doubt you'll be back some day and until then we all wish you the best of luck.

[Jake D]

Originally Posted by Burg Boxster

Jake,

Sounds like you made the smartest decision based on your circumstance. No doubt you'll be back some day and until then we all wish you the best of luck.

Thanks man, and YES, I will be back one day... guess its better to not be Porsche rich and cash poor anymore.

[jdiba]

Jake, you are 26 and I am 48 and I could learn from you. You have wisdom beyond
Your years.


Best of luck to you. I have a feeling you are gonna do just fine in life.

[jcb986]

Looking at the truck and being 66yo and a hot rod builder from the 60's I am going to give you a rough estimate on your build.

In the 60's we would have dissembled and had the frame and body sandblasted.
Cost about $200
Body work and paint job about $850 including the frame.
Rebuild suspension about $450.
Junk yard Chevy 427 about $500.
Nice B&M Hydro about $350.
Interior about $1500.
Wheels and rims about $1000.
Your labor provided and your buddies???? All the fun they can enjoy.

Today it will cost you about $50,000.

I was going to build another hod myself and realized the Porsche would be just as much fun. Now I got my eyes on the new Harley Softtail Slim.

[Bob O]

Jake: That was a very wise decision you made. I'm sure you'll be back someday. Porsche will still be here making desirable cars when your ready to jump back in again. Good luck with your truck!

JCB. If I hadn't just bought an 03 Deuce (and a Sportster for my wife! eeeek) last June I'd be right behind you on the Softtail Slim. I was at the HD store Sat. They said they got one last week....it was gone in 2 days and they're not sure when the next one will be coming. oh well.

[urban_legend]

My first Boxster was a project - bought it under a tarp and nine inches of snow.
Plenty of surprises, some dumb mistakes that became good stories, and plenty of fun.

If you see a seal grey 2003s in town with MI plates - that will be me.
(Business at Wright Pat AFB.)

[jcb986]

Bob O....they finally have caught my eye with a good looking bike. The Softtail Slim is it, looks a lot like my old 80' Low Rider which was a sweet bike to ride. The best is the cost of about $15,500 which I believe will revive their sales.

[Perfectlap]

they call that fiscal consolidation. Getting rid of expenses and debt.

But deciding to pour more money into a new side project doesn't really make sense to me after parting ways with something you value.
Invest that side money instead. Open up a Sharebuilder account with ING for instance.
it will make montly investments with your extra cash. Buy some tech and energy ETFs. In the long run it might be the smartest thing you ever did.
The way incomes for people in your age group are trending and the polar opposite trajectory of Wall Street really underlines the need for more people to start investing sooner. Real estate is not going to do wonders for net worth like it did for the babyboomers. At the end of the day the twenty somethings will be relying heavily on their investments and of course most are largely in dark about investing until its too late to start.