How many Porsche owners experience "Customer no-service" at their dealership? - 986 Forum - The Community for Porsche Boxster & Cayman Owners

RandallNeighbour · 01-20-2005, 11:40 AM

Yellowjacket, I love the banter, and I don't get riled up about it at all! Keep it coming. That's how I seem to learn from others... lots of communication of all kinds.

Just save a lot of money and stay out of debt in your youth! That way, you can relax as you age and not worry about money... and you can enjoy the miracle of compounded interest, which gets really miraculous in those last years!

bamaboxster · 01-20-2005, 04:15 PM

Randallneighbor,

Well spoken

Dave

Perfectlap · 01-20-2005, 04:30 PM

NOT living with debt certainly lowers your stress level. But when you realize that $30,000 cash diversely invested in real estate, stocks, bonds will be exponentionally greater thirty years from now you have to know that the elusive "debt free good feeling" is a luxury in itself! You are leaving allot of retirement money on the table by putting the cash in another man's pocket and driving home with a smile. One very expensive smile really.
The number one thing financial advisors preach is the benefits of time. every year that you tie up cash in non-appreciating investments, is that much more cash you have to kick in to get the same return in thirty years. They also preach that even if you are in your 40's you should never think its too late to invest, people are living longer and the world is getting more expensive.

My father used to always say "a guy who makes $100,000 goes out and spends half his income on a car isn't very wealthy" He has never paid more than $5,000 for a car, EVER... even though he was more than able to buy a really nice car.

Perfectlap · 01-20-2005, 04:33 PM

"That way, you can relax as you age and not worry about money... !"

I don't think I have ever in my life met a guy over 30 who didn't worry about money. Well there was that one single guy who ate allot of canned tuna fish.

01-20-2005, 04:50 PM

lol i am 25 and i wanna live a little and not bother about investing.... if the bible and prophecy is correct then aint the world going to end in march 2006? lol who knows... i would much rather spend and enjoy today or die tomorrow rich.

RandallNeighbour · 01-21-2005, 10:57 AM

Perfectlap, any investment that has a potential yeild to outpace an interest charge on a car loan will also have a risk factor and the "savvy" investor could lose much of that cash!

By the way, I paid $35k cash for one of my cars, and I am the first person over 30 you now know that does not worry about money. I don't make a lot, and neither does my wife, but we have no debt and that's why we don't worry about money. And just to set the record straight, I absolutely hate tuna fish! Our debt-free lifestyle allows us to eat and fine restaurants, fly to Australia and dive the Great Barrier Reef, yada yada yada. I'm not bragging, just trying to tell you that not paying all that interest really piles up the savings account for the one who saves versus spends, even when you have a modest annual income. I do spend though... I'm on this forum as a Porsche owner

Every single one of my friends who finance their cars, and finance new ones too frequently and make rotten choices in cars too never have an extra dime to save and invest ask me how on earth they can become financially secure like my wife and me.

...they hate my answer, which you can easily guess! Get out of debt and stay that way forever.

If you are one of those very rare people in this world who is an excellent saver of money AND a prudent and wise investor, you go right ahead and beat the interest on a car loan with investments versus paying cash. I admire you more than you will ever know.

I must admit publically and humbly on this forum that I am not this kind of person and do not know of any, although they must be out there somewhere! As I stated before, most every person I know lives beyond their means and one sizeable hiccup in their finances (blown engine, AC unit dies at the house, a root canal and crown, etc) and they're screaming "bankrupcy, foreclosure or reposession!" Do they find a way out? Sure! Just take out a loan or charge it on a credit card. The hole just got deeper.

Sounds like your situation is different from your posts... could you pay off your loans with your investments if necessary today? Hope so.

I feel like I'm wearing out my welcome on this topic and seriously hijacked this thread so I won't prattle on any longer. I'm just really sad for my friends because they have credit-spent themselves into a life of slavery to banks and will have little to nothing in retirement, and some have already found themselves in bankruptcy court