Steps to becoming a 996 owner..

Hey Guys. I have been reading this site and the 996 forum for a while, but do not post much. I enjoyed a post a few weeks ago explaining when you all first dreamed of owning a Porsche and what your first one was. I am now interested in the steps you all took to getting this beautiful car. Not necessarily your jobs per-say. More like the types of attitude/ important traits that helped make you as successful as possible. And little tidbits that indirectly made you Porsche owners. Strange question, I know. But I would love to hear some background and stories with any advice possible. I am now 18 and kind of hurt myself by not attending any of the 4 year schools I got accepted into. But at that time I was really mixed up and had no clue of what I wanted to do for a living. I figured I would just be wasting away and throwing away money by attending one at that time. Now I am registered in a JR (2Yr) college to earn an A.S.S in Business Admin. I guess I could use some advice on some smart steps to do after I earn this degree. I heard economics is a very promising and versatile field. I guess it would make sense to continue to an Bachelors in Business as well. Overall, I am not from the richest family, and I am willing to work as hard as possible to try to be successful and one day earn a Porsche. I know there is a huge difference between a "successful person" and a successful person. In my eyes, my mom and dad are the highly successful people. They work hard for a living, raised good kids who love them and they can be proud at the end of the day. They may never be able to afford a Porsche, but on the inside they are truly rich. I hope I turn out like them one day, but with the ability to own a Porsche Thanks for all the help....I appreciate the advice. Sorry the second half is a bit OT as well. I hope you understand.

Work hard but not at hard work. Don't get divorced. Only have two kids. Spent your next 30 years driving "minivans", each for 10 years or 250,000 miles whichever comes first. Do your own car maintainance and repairs. Pay cash.

Google Stock?

Just wait for 5 more years, and the price for 996 will be only $15k. That's like a new Civic range. So should be no problem for you to get one.

I think no matter what income you'll make whether very high or very little, the hardest part is saving and if you got that part down-long term you'll reap the benefits so start doing it now. It's great to own a nice car but gotta list your priorities first maybe a house first. As someone pointed out work hard and when your young you got plenty of energy and if you're saving it up you won't have to work so hard later on. Regards and hope it happens for you : ). Mike

Bauer, now you make the great post and I'm observing

Thanks for all that responded! Haha, Raidentech/ kirb. I wish I could have gotten some of that stock. Except I have no money! And by the time I am working, I would be looking at the newest models. Not 996's, no offense to the car, I love the looks of it. West and 996FLT- Thats exactly what I am looking for. I agree that I have to have my priorities straight...thats for sure. So its definitely house first. I agree that I would want to pay a great deal of cash, which would take me a while to save up for (probably unless I get some luck going my way). If I can ever buy one of these, the last thing I would want to do is cripple my finances. With some planning and saving with a descent job hopefully it can happen. Thanks for the good wishes. A little similar to your post Roee, but with different info. I hope this become a good read as well. And any more info and advice is much appreciated and needed!

Set a goal for yourself and then determine what steps must be taken to achieve that goal. I remember reading a book by Arnoled Schwarzenegger in which he discussed how he set goals and achieved them. When Arnold came to the US in the 60s, he didn't have a lot of money, but what he did have was a lot of ambition and the drive that was required to achieve his goals. In the book Arnold remembered how his friends would laugh when he told them that he would one day become a famous actor. Well despite his problems with English and his heavy accent, Arnold became a famous actor because he was willing to work hard to achieve his objective. So, again set your objective and work hard and you will be a success regardless of your chosen endeavor. We are all fortunate to live in a country that rewards talent and hard work.

And when you get married (big assumption) your logic wont be the only one deciding your life decisions. Want a Porsche early on in life? Stay single, selfish and home in on a Porsche.

Good Questions. I must say that you are never too old to start being successful. I did not start going to college until I was 23 (Married with 2 kids, with them being my most success), and then I had my MBA by the time I was 29. I did not make over 7 figures until I was 37, and did not get my first Porsche until I was 48. But the key thing is to have a set of achievable goals, and don't be discouraged when some ideas end up as dead ends. Just learn from it and try something else. You are one step ahead of me, at 18, I did not have a clue. So perhaps before you buckle down to catch your dreams, live a little, see the world. As you are doing in this thread, learn from others opinions and experiences. Enjoy your future, it will be the ride of your life!

99.9% of the country will never even see $1,000,000, much less make $1,000,000 per year, so I would consider that staggeringly impressive by 37 rather than an example of a "late start"!

Oh Man...I think I would feel pretty damn accomplished if I could earn upwards of 150-200K a year let alone 1 Million! I really am learning a lot so far, so I do thank you all for your time. It doesn't seem like much but thisinfo might motivate me just a little bit more. I feel I am at peace with myself in terms of social life/ or wanting to be single for a while. In that I mean: I am ready to just settle down and go to school. Making my main focus to get good grades in my studies. I am also fairly independent and do see myself single for a while, which doesn't bother me at all. The one thing I have a problem with is that I don't necessarily know what my goals are after I get this A.S.S in Business Admin, which probably couldn't take you so far. I took this intead of an AS because my counsler said it was more demanding. I feel it might help if I have a main end-goal, but I just do not know what it is so far. Any more stories? Thanks!

Find something you love to do. Then you'll apply yourself more than you thought possible, and it still won't feel like hard work. Cars can suck up a ton of money, the biggest part being the depreciation. If you buy a new car every few years, or worse, lease, it'll be much harder to save up. Pay cash for your cars, buy used, and drive them 'till the wheels fall off. Oh, and don't drive a p-car until you're ready to buy, or else you won't be able to resist buying one before you can afford it. When I started test-driving, I planned a leisurely 8-10 month search for the "right" one. 7 weeks later (and 6 months too early, from a savings perspective) I had spent 50% more than I ever intended. No regrets at all, just saying it's an easy way to overreach your limits.

I think that's great advice. I see many guys asking if they can afford a certain car. To me if you have to ask the question, the answer is no.

hey Bauer, maybe you need to start off with a Poorshe...912, 924 914...not everyone can afford a real one at 18. Now quit whining and get your **** together. Community College sucks. You will get nowhere going there. Go to a real school, get a real job and save up to get a real Porsche

I'm a CPA and graduated in 1985. My first post-college job paid me $23,000 per year and that included a $1,500 bonus for suits. At age 41, I (we) have had three Porsches, including two bought new this year. Since drafting my first resume in 1985, I haven't had to update or draft a new one. Network, network, network! All 5 jobs and 3 consulting gigs since have been through word of mouth. Did I say, network, network, network? You may find that you are better at things than what you were educated in. For me, I have found that operations and sales are a lot more natural for me. Don't be afraid to think outside the box. Obviously work hard, but work smart. I have worked six days a week for most of my life, but you need to know when to crank it up and when to cruise. If you don't enjoy your work, find another job. Personal: 1) Don't get married too young. You will need a few years to establish yourself without any anchors. However, if you find the girl (I am presuming you are a guy and straight!) of your dreams make sure she is supportive of your goals. 2) Don't have kids too young. Financial: 1) Buy a house as soon as possible (and yes, well before any Porsche), even if you have to leverage yourself. The interest deduction is one of the last great tax breaks. Be prepared for market ups-and-downs, but think of it as a long term investment. Case in point, our home has appreciated 150% in less than 6 years and our equity is RIDICULOUS. 2) Save for your retirement, or better yet, have your employer do it for you. The money adds up quick and what you don't have, you won't miss. 3) Never pay cash if you can use someone else's money at low interest rates (5% or less). The cash not spent can be used for a down payment on a house or for retirement presuming you can make a decent long-term return. Also, if you have enough equity in your house, borrow against it and buy a car (the interest will most likely be deductible). 4) Don't be a dummy like me and buy new: mine - '86 IROC-Z Camaro, '90 Nis 240SX, 2 '92 Hon Prelude Si, '95 Nis Maxima SE, '96 LT4 Vette, '98 Nis Maxima SE, '99 New Beetle, '00 Mustang GT; hers '91 Jeep Cherokee, '93 Ford Escort, '96 Lex ES300, '99 Nis Pathfinder SE, '01 Toy Sequoia SR5. All the depreciation lost could have bought a Ferrari, or better yet an income property. One final thing, there is no promise of tomorrow, so live each day enjoying it, and don't look back (no regrets). Good luck!

Thanks for the additional informative replies. Very good info. It's true, I still need to get my act together. I figured some college was better then no college at all. Perhaps I was wrong. I know I made a mistake not going to a 4 year school. But I was planning to transfer to one after these 2 years and take 2 years to earn my bacholers. Hopefully with good grades I can get into a very good one. A new Porsch at 18? Never. Maybe at 30-40-50. The earlier I can afford it, the more fun I can have with it. Is it that big of a mistake starting at an CC? I want to go on to a regular college. Then I would even want to try for my masters in it, if that gives you an advantage. It seems so many people come out of school with a business degree these days, so I want to kind of seperate myself from them. Great grades is a must, but will minoring in another area be benificial? Sorry, when I wanted to talk to my counsler about this, she just seemed very busy and had a bit of an attitude. Grades has never been too much trouble with me (Math ) except when I lacked motivation. Coming on here gives me some at least. But I feel a lot of people around me don't think I should even do this. That I couldn't make it and have a nice job. That I should just use my hands to work. But I love playing hockey, fishing, even landscaping. I rather work with my brain so I can use my physical energy on having fun with those things. My neighbor payed me 5:15 an hour and wanted me to do all his dirty work (carpet laying, but he had me do all his garbage work) 6-7 days a week. He took advantage of me and treated me like crap. Its just another motivation to prove him wrong one day.

Elton, Couldnt agree with your points more. very eloquent. Bauer, the fact that you asked the question bodes well. Everyone's life story is different but hard work and intelligent prioritization is the common thread. I lusted after a Porsche since age 16 but had to drive the poor man's rear engine equivalent (bug) through Med School, all the time taking it through the gears like the 911 it wasnt. Be patient, it will happen in time if you keep working at it. Then again this could all be crap is daddie is wealthy or you inherit a bundle. Have you thought about the poor man's Porsche, a 914? (no slur intended fellow owners). Its a way into the comraderie of Porsche ownership and club activities. Also a great way to get a line on a a more expensive cream puff when it comes up for sale. Wish I had done that sooner than wait til age 42 to have a great bunch of new friends from all walks of life.

I agree with the advice about buying used. Let's say you plunk down $63k in cash to buy a new Porsche at age 30. (I may ::cough cough:: know someone guilty of this crime.) If you'd invested that cash instead and got a 10% annual return, then by the time you turn 72 the cash would be worth around $4 million. The real cost in buying a new car is not only depreciation, but missed investment opportunity.

So If I ever do have that kind of money I should look into used and invest the rest? I definitely see what your saying, but at 72, I won't have much use for that money at all (4 million dollars at least). Aren't interest rates pretty low now too? Seems like many variables go into this. I think I had a big misconception about one thing. I figured that it would be smart to save yearly or what not for a Porsche instead of having to take out loans, etc for it. But now I see that is not a smart thing to do. One more question if I might add which I touched on earlier. While I know I will eventually have a Bachalors degree in Business Admin, is that enough for a good job? Should I consider majoring in something else too or minoring in something else? Thanks.

Bauer... One step at a time. Get into a 4 year school and get your Bachelor degree while getting good grades. Look at grad school after you get your Bachelors. Major in something you like but something you can get a job in. For me, the degree I obtained has nothing to do with my current job. Just make sure you stay away from credit card debt!

Bauer, While I am a little ahead of you in terms of age/academics (i.e., I've graduated from a 4-year college and also from a top tier law school with honors), I too am in a similar in position in that (i) I am not 100% sure I like what I'm doing and (ii) whether it's the right time for me to make the splash and purchase a used 996. I just turned 26, make six figures, BUT I still don't know whether this is the right path for me. For example, I work between 80 and 100 hours a week (and sometimes more--including weekends), so when I do the math, I really don't make all that much per/hr (not unlike entry level investment bankers) - not to mention I won't have much time to really enjoy the p-car should I get one... Like the others on this forum, I'm hoping that my current job opens up some doors for me down the road in other employment arenas wherein I can make the good money _AND_ enjoy my life (i.e., actually have some *free* time). First step for me though is to purchase my own home (I'm renting right now and I'm sick of it), and I just got a tip from my broker on a place that's being sold way under market in a hot area of town.. my idea? It rents for far more than the mortgage payment will be on the home--so I'm not only paying down my mortgage every month, I'm also having others pay for my ownership of the property.. Spin off a few of those, and I figure I'll be supplementing my current income quite nicely... Whatever you do, don't let somebody else tell you that you can't succeed.. you don't have to go to an ivy league 4-year college to be successful (monetary or otherwise), although it would be a lie to say it doesn't help. BUT I have more than a few friends who did not attend such schools who went on to live happy, financially secure lives. Maybe not millionaires, but good enough... Good luck in your endeavors!

It sounds like you have you priorities straight. I had my dream car (the C4S) and sold it so that I could afford my MBA. Someday I'll have a Turbo If you can find any way to swing it financially and can get in, I'd recommend a four-year BSBA program. You may or may not make much with a BS, but if you perform well at a strong company, they'll help with further education and reward. Like others have said, anyone can be successful. I know a guy who starting driving a delivery truck for Coke at age 18. He's now a regional VP for Coke at age 35. He worked hard and they put him through school.

RAC- You wouldn't believe How many people that tell me what they are doing now has little to do with what they studied. How ironic, but I guess thats how it goes sometimes. As of now I should focus on things one day at a time, you are right. Rama- You should be very proud of your accomplishments, but Damn! Thats a lot of hours per week. Either way I am confident that you will easily pave your way to a job that doesn't demand as many hours, but pays as well as the one you have now. Best of luck to you and thanks for the kind words. BostonMark- I can't say I have heard of an BSBA program, but I am fairly new at all of this. I will look into some schools that offer that degree. Thanks for that advice. My last question is: While I believe I will enjoy my business classes and find them interesting (I will soon find out); I guess I should add that I am more of an independent, hard worker, loyal, organized type of guy. Don't get me wrong, I am polite and a nice person, but I can't say I am a true people person since at times I can get shy. Is there a specific area in business that might suit me better then others. Or for that matter, is there a field outside of business that I might be suited for that can be financially rewarding if enough time is given into it? That would be my last question...Sorry for rambling. *Let me add that in terms of a Porsche my first goal is a used Boxster. Final goal is a C4S or Turbo

Hey Bauer, I just thought I'd try to ease your mind a bit about the community college route. I'm living proof that being a "non-traditional student" doesn't equal doom. At eighteen I couldn't afford to go away to school like a lot of my friends, and so I ended up working while attending evening and weekend classes at the local CC. Would I have chosen an Ivy League education had it been possible, you bet I would have. But my community college start provided me with the opportunity to earn a quick degree, get a decent job, and then with that income continue my education finally earning 3 additional undergrad. graduate and professional degrees at very respected universities. Stay focused, work hard, and be patient, good things will come Roger

7 figures, for over a decade? Holy chit dude, you are rocking. As for community college, no worries. My story: I started out in CC, got a 4.0, transferred into a top engineering school, kicked ***, found my wife, got into a top law school, kicked ***, got married, worked for two Fortune 10 companies as in-house counsel, a top 10 law firm, and now started my own firm with 2 partners 2 years ago. Now have 10 attorneys and continue to grow. Things weren't quite that simple; there were lots of ups and downs. I dig my new to me Pcar, but what I really want is financial independence. Taste a big downturn (like I did), and that will be your real goal. The Porsche just serves to remind me that life is to be enjoyed, but not so extravagent that it blurs my real focus. EDIT: Rama, you will find your way. I too worked those sorts of hours, but found my way out. Pocket, I was in the same boat; accepted into Cornell, but had no feasible way to swing it. Funny thing is, I made lifelong friends in CC, and had my best instruction there. On the not-so-good side, I missed out on all the freshmen activities at the University, and transferred in as an outsider. All worked out in the end, but not necessarily ideal.

Bauer, hockey player? I am 38 and in May bought my dream car, a 2004 911(40th Anniv.). Paid cash after paying off my primary home and summer beach home. I have the best wife anyone could ask for and 2 awesome kids. I was never an A student, went to a state school and got my B.S. in Business Administration. Set and prioritize goals, aggressive ones at that, work smart and hard and even if you don't have much money now, save EVERYTHING you can, the law of compound interest is all you have to remember to reach finacial independance or at least have enough to buy a really cool P - car! Good Luck! Garv

Great info on the CC. You all have lessoned my worries a great deal with that. And most of all: All the replies have shown me the American dream is still alive for those who want it enough. I appreciate the good wishes as well. I also see how important it is to save money. Garv- You are correct. Been playing mostly roller for a while. But I love ice as well. Played at the Westchester skating acadamy/ Brewster ice arena a bit, you should know the names. NYR fan.

I have to give a big thumbs up for Community College. That is how I got started, and liked it so much after I graduated, a buddy and I got our teaching credentials so we could teach night school and give a little back. Now what to do in business. Well, I would suggest that you take inventory of what you really like and then find the industries that have something to do with what you really like. Every industry needs good business people, in everything like sales, finance, marketing, product management, PR, etc. This way you can do work with something you like, and get paid for it too. When you are in school, you can take advantage of summer intern programs in many industries as a ground floor door. I also have to defend getting married early. This is what my wife and I did, and now we are just barely in our 50s, with the kids out of college, and on their own, and we can play all we want, and afford it as well! I also have to share with you a story about what got me motivated early in life. I was about 22 wife and a child with another on the way. I was making about $360 a month (in the 70s), and had just finished reading about the new 911S in Road and Track. I remember thinking to myself how much I'd like to have one of those, and it came to me "Damm, I've got expensive tastes". So I figured that if I was gonna satisfy those tastes, I better get my *** in gear, and get going. The rest as they say "is History".

Bauer - Good luck to you as well buddy. I think others hit the nail on the head when they said to set aggressive goals for YOURSELF (above all else), and have the discipline and the work ethic to accomplish those goals. Frayed - Any chance you have a need for another associate? In any event, I'm curious as to how you found your 'way out'. I work for a huge international law firm, and while the pay is definitely good (as is the exposure and the name on the resume), I don't think I can handle this type of workload for another 3-4 years in the hopes the in-house offers start rolling in at that point. Any insight you could afford me would be much, much appreciated...

Shoot me you number by PM, and we can chat. I'm pretty slammed this week, but should have some downtime over the weekend.

Hi Well that was a good post and good replies. I've just been able to get my 911 and it's a pre-owned one at that cause eventhough I AM lucky enuff to make six figures/yr salary wise I STILL can't really afford/justify the expense of a brand new MY997 although nothing could be nicer. I have 4 yrs of college under my belt along with 4 yrs of grad/medical school and 3 yrs of residency completed...so in that respect I will say that work hard and study hard but don't take yourself too seriously. Do whatever you want to do and feel that you want to do as a career and as long as you can feel good about going to work in the AM and enjoy your job then you are doing good cause being happy in life and your work is the most treasured thing in life outside of your health and family. As for saving $$$ and finances? Hmm....spend wisely, protect your credit rating and use your assets responsibly. You're never to young to save and stocks, bonds, mutual funds and IPO's hey they are all routes to wealth and security. Read alot cause the more educated you are on ALL THINGS the better off you'll be and the more opportunities will be available to you. Good luck. By the way I didn't get my Porsche til I was 35; and my BMW till I was 31; both which I currently own along with my wife's ML350 SUV. However my previous vehicles were a 99 Passat, a 96 Acura Integra, a 89 Jeep and a 87 Nissan Sentra....so as you can see I did kinda work my way up the car ladder so to speak. Good luck. But the key thing is to have a set of achievable goals, and don't be discouraged when some ideas end up as dead ends. Just learn from it and try something else. You are one step ahead of me, at 18, I did not have a clue. So perhaps before you buckle down to catch your dreams, live a little, see the world. As you are doing in this thread, learn from others opinions and experiences. Enjoy your future, it will be the ride of your life!