Need opinions on a summer project.

[BIGJake111]

Originally Posted by Perfectlap

I was thinking the same except rather than buying the old Porsche (liability), instead invest the cash in a very vanilla Vanguard index fund (asset). Then contribute half of his pay from the part time job to the fund every month. When he's smarter about financial security, he can diversify that portfolio more broadly. That's probably what many 16 year-olds and future billionaires are doing this summer.

Jake be smart.

It is not all about the money haha. As long as I own a Porsche of some sort, and support the family well later on, I have all I need. So why would I give up owning one at the age when I can enjoy it the most for the next 20 years until I can truly enjoy it again.