2000 Porsche Boxster vs. 2001 BMW 330Ci

[wake&moto]

Originally Posted by Perfectlap

^You don't need money to move money IF and only IF you start young. A small amount ($3,500) given enough time to compound can grow into a huge sum if you put it into the right type of mutual fund. Since you are youngster born in the 80's you can take on more risk, start with growth funds (small and medium cap), and maybe more focused sector specific funds like Financial ETFs some of which are up 15% already this year Vanguard (known for low fees). Just call them up, and ask to speak with a rep they'll walk you right through it.
As far as risk, I don't think you are risking any less by plunking down thousands of dollars into a car you KNOW FOR A FACT will only lose value. That car will cost you a fortune in missed oppourtunities down the line.
Over time the profit or gain from your investment will buy additional shares. Once this momentum really gets going you'll find out that only a small part of that huge bankroll was the cash you initially put in. If you squirell away a measley 7-15% each week or each month then you'll really be in business. I can't tell you how many 30 year olds I know who have never bought a share of a stock, mutual fund, anything. And the older folks boy are they in bad shape. USA today once had a poll that said fewer than 3 out of 100 seniors could write a check for $600.

I'd recommend some books to you but you're eyes would probably just glaze over because its all very dry and technical. Next time your at Barnes & Noble flip through the Dave Ramsey book Total Money Make Over. He's not really market technician but he really brings home the point on saving through mutual funds. Flip to his testimonials from the people under 30 who started investing early. Skip the tesimonials from the older folks because I don't think you'll indentify with them and their foreclosures and bankruptcies. But these younger people were in good shape to be millionaires by maximizing the time advantage of their money.

the markets are very unpredictable and timing is everything. Who is to say that in our life time we will enjoy the progress that your generation did??? case in point? ask anyone who wanted to retire this time last year lol they lost 50% if their IRA value in less than 12 months.

[Perfectlap]

That's true. but our markets are and will continue to be the haven for wealthy investors around the world because we are the most transparent and liquid. If you're rich you have to put your money to work somewhere. You can't buy food with a block of gold and you can't put all your money in your house, people learned this the hard way.

p.s.
people who lost a lot of value in their retirement accounts last year and the year before have made a big comeback. Those who sold in the panic are in bad shape indeed. That's the thing about the markets, if something goes up in value those who are in a position to profit from a fall have already made their bets. On the flip side If a market falls from irrational selling and despair, similar bets are being made to profit from the eventual surge back to the mean. The forces are just too powerful to pass up cashing in one way or the other. This is why I think it's always good to cash in on some gains when things get way too bullish, or periodically before it even gets to that point. Funnel some of that gain into a cash account so that you can buy things when the markets bottom out--as they have done at least 20 times in the last 80 years. But they always come back.

[Stunin_Stud]

I got my car when I was 20 yrs old and a junior in college. I babied it alot so didnt drive it too much. It is not as practical as a bimmer, so you will always be worried where you park it and if its going to scrape and worry about little things. I didnt have any problems and did most the maintenance and mods myself. So far I have had no problems. Im currently in Medical school thousands of miles away from my car and cant wait to go home and drive it.

The BMW crowd is fun bunch of people although very cocky. I go on BMW drives all the time so if you get a 330 you will have a nice clan to join. The Porsche crowd is a bit older and not as fun ( no offense to anyone here).

I like both cars but I didnt want to be a typical person and get a bimmer so I got a boxster S and it took me a year to find the right one.

listen to the previous posts. The deciding factor is what type of person you are, where you live, what conditions you drive in and such. BMW 330i is just a car, but a nice car. Porsche Boxster is something more unique( dont listen to ignorant people who bring it down either). S2000 is not bad either but I wouldnt buy it over a boxster.



Good Luck

[mikefocke]

I didn't set up the 401k for my kids, they did it themselves out of earned income. One drives a '94 Mazda hand me down, the other a '10 Prius.

And if the market tanks, if you have enough to begin with, that isn't really the catastrophic event you might think as long as you have the discipline to stay invested, diversified, etc. The market being down 30-50% creates a buying opportunity for those with the nerve and cash to take advantage of it.

How many Porsches could you buy with the money you could have made since the "great recession" began and everyone cried the sky is falling...and if you bought that Porsche when things were at their worst, how many opportunities for appreciation would you forgo while the Porsche continued to depreciate.

I was out of school and earning $167 a month when I bought my first sports car (Alfa) and I had hassles maintaining it and it was almost a total loss when it blew a head gasket...are you financially and emotionally ready for what can happen to an older car?

[clickman]

To OP, have you had a forum handle like RickyBobbyyy? (Not this forum)

[jcb986]

Me, I like one of the old James Bond movies to describe what I would do.

YOU ONLY LIVE ONCE........