I have 800k in the bank from two inheritances. Talk me out of buying a 992 GTS and investing the rest in stocks

I have 800k in the bank from two inheritances
Talk me out of buying a 992 GTS and investing the rest in stocks

  1. 2 months ago
    Anonymous

    I won't, but keep in mind you are spending ~30% of all that money on a car. 911 is my fav car so i'm biased in this regard but try looking for an older models that tickle your pickle.

  2. 2 months ago
    Anonymous

    dude get a gt3 instead, you will probably make profit because they hardly depreciate

    • 2 months ago
      Anonymous

      I was planning on getting a GT3, but Porsche literally won't sell it to me
      Yes, used is an option, but if I'm spending this much money on a car I want it to be "Mine" i.e. specced to my desires if that makes sense

      Just buy a regular 911. You'll enjoy it as much and you'll have more left to invest.

      GTS/GT3 should keep their value better, also regular C2S looks worse to me

      • 2 months ago
        Anonymous

        >GTS/GT3 should keep their value better
        GTS is just a normal 911, it's nothing like a GT3, it will depreciate normally

      • 2 months ago
        Anonymous

        Look at a classic Porsche that is already appreciating in value, like a 911 4.0 RS or Carrera GT, or 993 GT2.

      • 2 months ago
        Anonymous

        My current income is around 80k a year, my net worth is 820k, but I'm standing to inherit at least another three million and two multi-tenant properties that my father is renting out right now in a couple of years.
        Basically I can afford the car, but I want someone to tell me to go ahead with it since I drove a Ford Ka the last decade and was raised to not waste money.
        Currently I'm planning to keep the car for multiple years, but the availability of gas in the coming decades is worrying me.
        Is holding an ICE car for 2-3 decades from now a feasible prospect?

        I was in a similar situation 2 years ago
        Knowing Porsche wouldn't sell me one, I kept my eye on the 2nd hand market for a spec I liked. You can't believe how many I considered but there was always something off, no manual, rollcage, bucket seats, flashy look at me color, ugly colored dials,too many kilometers, not approved, and on and on
        992's where 100k over msrp, but after so many passed in front of me, I found the swan neck to be more and more 'off', and the nostrels, and too much tech (it's a second car, my bmw has all that shit I don't need)
        then, as by miracle, on my birthday, she popped up, a 991.2. Perfection. Calculated in 20k for repairs, just in case. Not needed.
        Ignore the projecting penny crunchers, ignore that you won't be able to drive even a normal 911 to it's fullest, whatever.
        You could drive this fucker a whole year and loose what, 5/10k would you sell it. Wow what a dent in your portfolio.
        Straight cut gearbox, NA flat six, fuck yes.
        Only disadvantage is the amount of attention you'll get, if you don't like that. Get a shitbox on the side if you must.
        Iive your life

        • 2 months ago
          Anonymous

          >Straight cut gearbox
          no

          • 2 months ago
            Anonymous

            Its's quite subtle actually
            Not annoying 100% racecar whirring
            Love it

            • 2 months ago
              Anonymous

              >Its's quite subtle actually
              That's because the gears on gt3 gearboxes aren't straight cut

              • 2 months ago
                Anonymous

                I stand corrected

  3. 2 months ago
    Anonymous

    Buying a gts is like eating authentic Japanese dish with schezwan chutney
    Get a c2s
    Even that new Huracan techica

  4. 2 months ago
    Anonymous

    Just buy a regular 911. You'll enjoy it as much and you'll have more left to invest.

  5. 2 months ago
    Anonymous

    >992 GTS
    You don't have enough income.
    >rest in stocks
    Bear or at least crab market.

    • 2 months ago
      Anonymous

      >income mattering when you can just pay it in one go
      lol
      >Bear market
      Perfect time to buy for cheap then

      • 2 months ago
        Anonymous

        mattering when you can just pay it in one go
        >lol
        It's almost as if the car needs maintenance, repairs, insurance and gasoline.

      • 2 months ago
        Anonymous

        Do you plan on driving this shit to your wagecuck job or something?
        Don't even think about it unless you already secured financial independence for the rest of your life

        This retarded motherfucker will go back to working at McD's in 5 years

        • 2 months ago
          Anonymous

          I never worked at McDs, and I have a PhD in a STEM field, so I never will
          Though I am currently wagecucking, yes

          I would rather a 718 cayman GTS with the NA flat six engine and a six speed manual. Arguably closer to a 911 GT3 than a 911 GTS is.

          I don't like the looks of the 718, the 911 just looks better

          • 2 months ago
            Anonymous

            >Though I am currently wagecucking, yes
            Of course you are and your opening post makes it clear you intend to do so forever
            How about you try not working and do whatever the fuck you want instead? Freedom is like heroin for your soul, buying things you don't need out of boredom or aspiration is so weak in comparison, you won't even think about this shit ever again after tasting retired life

            • 2 months ago
              Anonymous

              >Bro just stop working forever
              What the fuck

              • 2 months ago
                Anonymous

                (you) on the left

              • 2 months ago
                z31

                imagine thinking 800k is enough to never work again lmao.

                Buy something moderately premium that you can actually daily drive and maintain without bleeding cash (for $80k or less), invest the rest of it. Spending $250k plus purely to wank over the aesthetics of a vehicle (because let's be real - that's the only part of it you'll reasonable get to enjoy) is a fucking terrible decision.

                >because let's be real - that's the only part of it you'll reasonable get to enjoy
                what in the fuck does that mean? who buys a porsche to look at it, porsches are drivers cars. get the fuck off the board if you dont enjoy driving.

              • 2 months ago
                Anonymous

                >what in the fuck does that mean?
                It means that the OP likely has neither the driving skill nor access to the roads necessary to really push the car to its full potential performance-wise. If he's just going to drive it between his home and office in the city, then its looks are the only real asset he'd be getting for his money.

              • 2 months ago
                Giddy

                Funnily enough $0 is enough to never work again

              • 2 months ago
                Anonymous

                The point is not to instantly retire. The point is to understand compound interest so that you can retire in a decade. OP is probably ~30 since he has a PhD, so retiring at 40 with $2m in the bank would be nice. You don't even have to fully retire.

      • 2 months ago
        Anonymous

        >what is maintenance
        >buying into a bear market during war and inflation
        buy high sell low

  6. 2 months ago
    Anonymous

    I would rather a 718 cayman GTS with the NA flat six engine and a six speed manual. Arguably closer to a 911 GT3 than a 911 GTS is.

  7. 2 months ago
    Anonymous

    it will be a complete and utter waste of money in every way

    you will never, ever, be able to even remotely approach that cars limits on public roads
    this would be the case even with a regular 911
    if you want it to attract sloots, its pretty retarded to pay porsche in order to get laid. just hire a prostitute directly, its much cheaper and easier

    best case scenario, the car retains a good portion of its value.
    in the absolute best case, it may even not lose any after adjusting for inflation, at least for a few years until ICEs are banned or taxed to oblivion
    in any case, you will be losing a lot of money vs investing in an index fund, which returns ~7% annually on average

    my advice, just invest all the money
    if you really insist on buying a car, get something cheaper than 100k, preferably a lot cheaper
    buying a very fast car is imo retarded, you will never be able to actually take advantage of the speed
    buying something luxurious makes more sense, at least then you will actually enjoy the thing you're paying for.

    • 2 months ago
      Anonymous

      >if you really insist on buying a car, get something cheaper than 100k, preferably a lot cheaper
      Aren't 997s like $40k? It probably has almost the same enjoyment factor as a new one, but for $100k less.

  8. 2 months ago
    Anonymous

    Buy something moderately premium that you can actually daily drive and maintain without bleeding cash (for $80k or less), invest the rest of it. Spending $250k plus purely to wank over the aesthetics of a vehicle (because let's be real - that's the only part of it you'll reasonable get to enjoy) is a fucking terrible decision.

  9. 2 months ago
    Anonymous

    You haven't stated your income and net worth, but if it's just 800k it is not enough. Calculate the required rate of return to maintain your standard of living. With 10% inflation that's going to be a high number. Above that return you can start thinking about income supplanting withdrawals - which would keep you from growing your capital. It really depends on your income. If your income covers your expenses, then decide on a savings rate and spend whatever is left AFTER that.

    If it were me I wouldn't spend more than 50k on a car if I had 800k. Being financially independent is a way better feeling than driving a new 911.

    • 2 months ago
      Anonymous

      My current income is around 80k a year, my net worth is 820k, but I'm standing to inherit at least another three million and two multi-tenant properties that my father is renting out right now in a couple of years.
      Basically I can afford the car, but I want someone to tell me to go ahead with it since I drove a Ford Ka the last decade and was raised to not waste money.
      Currently I'm planning to keep the car for multiple years, but the availability of gas in the coming decades is worrying me.
      Is holding an ICE car for 2-3 decades from now a feasible prospect?

      • 2 months ago
        Anonymous

        >Basically I can afford the car, but I want someone to tell me to go ahead with it

        Go ahead with it. I haven’t seen a bad review on them. They seem to be that Goldilocks sweet spot in the 911 line up.

      • 2 months ago
        Anonymous

        Based on this you can afford it. Fuel is nothing to be concerned about. Just make sure you really want this model - it's not something you daily to an 80k job, but more of a weekend car. Why not a Carrera T, a GT3, or a Turbo instead of a GTS?

        • 2 months ago
          Anonymous

          I wasn't planning on dayling it, but I do intend to drive it regularly, outside the weekends as well
          >Targa
          I really don't like Targas and Cabriolets, I have no rational argument for why, I just don't
          >GT3
          Like I said

          I was planning on getting a GT3, but Porsche literally won't sell it to me
          Yes, used is an option, but if I'm spending this much money on a car I want it to be "Mine" i.e. specced to my desires if that makes sense
          [...]
          GTS/GT3 should keep their value better, also regular C2S looks worse to me

          I do think the GT3 Touring would be better, but I can only get them used since I never owned a Porsche before and my dealer doesn't like me enough
          Also I'm an autist so I don't have the people skills to convince them to sell it to me anyway
          Used would be an option, but I want the car that I plan to hold for multiple decades to be fully "mine", i.e. specced to my desires regarding interior, paint etc.
          >Turbo
          Don't like the look of the intakes on the rear, don't really have any use for the 200hp extra and I don't intend to set serious laptimes
          The GTS is faster than the S, yes, but I do like the styling much more as well, so I'm willing to spend the extra money, but I wouldn't make the same choice for the GTS>Turbo upgrade

          • 2 months ago
            Anonymous

            If you haven't had a 911 before, you may want to try some out before you spec your car. Perhaps borrow from a friend? Your best options value-wise are picking a base Carrera 2 or a GT3.

            • 2 months ago
              Anonymous

              Also, GT3's will be easier to get now that interest rates are rising.

      • 2 months ago
        Anonymous

        That 800k in capital is your apple tree. Eat the apples, don't cut down the tree. In my honest opinion you're not even close to being able to run a 200k car.

        If you DCA into index funds you can easily expect 10% a year. Especially now since we're in the middle of a bear market and it's a perfect time to start long term investing. Usually, you can maintain 2% annual withdrawal rate while still growing your capital. So with 600k invested after buying the car you'd be able to withdraw 12k a year.

        A 992 gts probably costs around 30k a year total including maintenance, depreciation, taxes, fuel and insurance. That additional 18k would have to be paid from your work income. It would also mean you cannot save and invest that amount. The opportunity cost form having 200k less invested, and say 15k a year less to save is huge over the long run.

        To illustrate:
        >600k* 1.04 (rate of return after withdrawals and inflation) x 10 years = 854k
        >2% per year withdrawn = 132k over 10 years

        If you don't buy the 992 gts and invest 200k extra
        >800k * 1.04 + 15k/y (additional annual savings from not having the running costs of a 992 gts) x 10y = 1.297k
        >2% per year withdrawn = 191k over 10 years

        1488k (1.297 + 191) - 986k (854 + 132) = 502k in opportunity costs over 10 years if you buy the 992 gts instead of investing it. When you ask yourself if you can afford something, reason from whatever income is left after expenses and savings. Simply put, your annual withdrawal from capital is what you can safely spend on fun stuff.

        To safely withdraw 30k a year for a 911 you'd need $1.5m invested NEXT TO your regular 80k/y income.

        • 2 months ago
          Anonymous

          >If you DCA into index funds you can easily get 10%
          What are the chances of this going wrong?

          • 2 months ago
            Anonymous

            Lowest risk possible over the long run. I'd argue lower than a saving account because you're less exposed to inflation.

          • 2 months ago
            Anonymous

            Index funds are basically the safest long term investments you can make. Even when the stock market takes a shit, they rebound relatively quickly.
            That and maxing out an IRA(you can put $5k into an IRA every year). IRAs give compounding interest. The caveat is you can't cash out until you're 65%.

        • 2 months ago
          Anonymous

          Fuck you
          OP here, you actually managed to talk me out of it
          But my takeaway here is that once I have either 1.5m invested, or my annual income goes over 110k I could afford to keep a new car priced at 200k running?
          Basically I'm not hearing "Don't buy it" but, "Wait until you actually inherit the other properties and money and start making passive income off of the renters to be able to afford the car"

          • 2 months ago
            Anonymous

            Well done OP! Now you've got a goal to work towards. In the meantime, get a fun and affordable car for hooning.

          • 2 months ago
            Anonymous

            Just buy a boxster

            Lowest risk possible over the long run. I'd argue lower than a saving account because you're less exposed to inflation.

            Might as well wait until we get into the recession. Blood in the streets and all that

          • 2 months ago
            Anonymous

            Yep you got it. You're already a long way though I reckon you're 7 years off from being at that point.

            Just buy a boxster
            [...]
            Might as well wait until we get into the recession. Blood in the streets and all that

            Timing the market is a fools errand and the exact opposite of what DCA-ing is all about. Time in the market beats timing the market. The market is still down 15-20 % from the highs you'd be a fool not DCA-ing these past 4 months. Worst case scenario is that you'd be at breakeven.

            • 2 months ago
              Anonymous

              I talk to retards like you frequently. You would have said the same thing to me 6 months ago and I would've been in the red for the year.

              • 2 months ago
                Anonymous

                You don't seem to understand the power of averaging your entries. Let's take SPY monthly closing prices as an example.

                jan 450
                feb 435
                mar 450
                apr 412
                may 413
                jun 377
                jul 412

                421 avg
                412 current

                You'd be down 2,5% while the entire market is down 14% in the same period. You would have significantly outperformed the market. Ah, but I'm sure a genius such as yourself would have picked the absolute top and bottom so you'd be a millionaire by now. Right?

              • 2 months ago
                Anonymous

                Just because you're not capable of timing the market doesn't mean nobody is

              • 2 months ago
                Anonymous

                Let's see your portfolio then big boy

                I'll wait

              • 2 months ago
                Anonymous

                ah the old someone must survive russian roulette argument!

                bon chance anon, ngmi.

              • 2 months ago
                Anonymous

                The only reason for this bear market rally is the belief that the recession will force the fed to stop hiking and start up the money printer again. I heavily leaned into commodities earlier this year and am up 14%. Smooth brains only know how to buy index funds. The world is a very different place, and expecting the historical anomaly of high returns that have characterized the last few decades is a dangerous idea.

              • 2 months ago
                Anonymous

                >no proof
                Typical.

                Who cares about reasons. It's about realized return. Nobody wants to buy when it's a good time to buy. I'm not gonna go into investment strategies and theories or whatever. Two years ago I put 50% of my net worth in oil stocks and nearly tripled my investment including dividends. Then lost it all on futures.

                I'm not going to bother trying to outsmart the market anymore. I just DCA and that's it. I'd rather be spending my time on my family or hobbies.

              • 2 months ago
                Anonymous

                Based. I'm a PhD doing advanced financial modelling, and I have some insights:
                *For most investors, anything less than 25y-returns are a crapshoot
                *The top investors almost all get a long lucky streak, and strategy doesn't matter significantly
                *Reliable superperformance relies on an exogenous advantage - e.g. insider info or lower latency than others
                *The signal to noise ratio in the market is so low, it's nearly useless to attempt predicting anything

                For most people, buying a little bit of everything is unironically the best solution.

              • 2 months ago
                Anonymous

                >he needs a phd and advanced modeling techniques to say “diversification is good”
                Ok thanks

              • 2 months ago
                Anonymous

                kek

                >he needs a phd and advanced modeling techniques to say “diversification is good”
                Ok thanks

                Well, preacher of the Science™.. Do you find that your PhD and your great intellect enable you to make an equally great amount of money? Or are you just a broke ass nigga like the rest of us trynna make a quick buck?

              • 2 months ago
                Anonymous

                Luck made me reasonably well off, not brains, hard work, or credentials.

              • 2 months ago
                Anonymous

                >Smooth brains only know how to buy index funds
                Yep, that's called "passive investing" now, big zombie companies just get cash poured into them non-stop by clueless fags that just wanted to put their money somewhere
                There's no real reason for all that money to end up where it did, S&P and NASDAQ buyers are gonna get rekt so fucking hard when the jig is up

              • 2 months ago
                Anonymous

                Just 2 more weeks, right?

              • 2 months ago
                Anonymous

                Post P/L

                https://i.imgur.com/RxqNjlC.jpg

                I have 800k in the bank from two inheritances
                Talk me out of buying a 992 GTS and investing the rest in stocks

                Buy land or a house you fucking retard

              • 2 months ago
                Anonymous

                >Smooth brains only know how to buy index funds.
                Remember when Warren Buffett made a bet with hedge funds that he could get better yield with index funds than they could do by hand-picking stocks?

            • 2 months ago
              Anonymous

              So what's my reasonable budget right now?
              Around 50k for my car with an annnual cost of less than 19k to keep it runnign?

              • 2 months ago
                Anonymous

                Do you have a house? Why don't you pay cash for a house?

              • 2 months ago
                Anonymous

                Because I'm set to inherit multiple houses and I don't need/want another one
                I live in europe, renting out appartments has become more hassle than its worth right now thanks to renter protection

              • 2 months ago
                Anonymous

                Yea something like that. That's enough for a 997 2s and you'd probably make money on it as in ""investment""

              • 2 months ago
                Anonymous

                They're overpriced in yropoor atm

      • 2 months ago
        Anonymous

        >My current income is around 80k a year, my net worth is 820k

        So with making $80k a year and having inherited $800k, you have... $820k in assets.

        You can't afford this car. It's just another example of your poor spending habits that led you to only save $20k of your own money.

        $800k is less than half of what a median wagecuck will make over his life -- and you making a bit more doesn't actually equate to much since it usually all gets wasted in a bigger house. (someone in a $300,000 house is in no way deprived unless they have more than 3 kids, so someone in a $600k house is just paying twice as much for empty space and maybe $15k worth in nicer fixtures.)

        If you actually drive the Porsche, it will be a very depreciating asset with high maintenance costs. You do not have, "12 cars in my garage so the Porsche won't be driven more than 1000 miles in the next 30 years whereupon I'll sell my 1000 mile Porsche for more than I bought it for," kind of money. This thing with 300,000 miles on it and $200,000 in upkeep dumped into it is going to be wroth about nothing. (30 sets of tires at $1k a set = $30k. 15MPG if you actually use the thing at $5/gal = $100,000 in gas. $70k in maintenance for the rest is probably a large underestimation.)

        You do not have "race car toy" kind of wealth, you have, "Upgrading from a base Model 3 to a Model 3 Performance," kind.

        • 2 months ago
          Anonymous

          *Also

          >stock market

          No. We are on the precipice of the Nazis starting a civil war because the Nazi base thinks that having a absolute dictator will somehow mean that they'll be the ones calling the shots. (They're not called "The party of stupid," for nothing.)

          Put a good chunk of it into hard assets. The stock market is just paper profits pushing up paper profits, and when they nationalize the major industries in the name of "national security" and "conservative purity" you'll be left with nothing.

        • 2 months ago
          Anonymous

          I'm amazed how someone can go from seeming fairly reasonable in to full fucking schizo in the very next post in

          *Also

          >stock market

          No. We are on the precipice of the Nazis starting a civil war because the Nazi base thinks that having a absolute dictator will somehow mean that they'll be the ones calling the shots. (They're not called "The party of stupid," for nothing.)

          Put a good chunk of it into hard assets. The stock market is just paper profits pushing up paper profits, and when they nationalize the major industries in the name of "national security" and "conservative purity" you'll be left with nothing.

          .
          Are these "Nazis" in the room with us right now, son?

          • 2 months ago
            Anonymous

            there was nothing reasonable about the first post it was just as schizo, you just weren't triggered by certain keywords. As long as it's worded normally, people accept the wildest shit without realizing it. Read more and think critically

  10. 2 months ago
    Anonymous

    its not a limited production car and you are in peak porsche bubble.
    dont do it.

    • 2 months ago
      Anonymous

      Do you think that bubble is going to burst anytime soon (Within the next two years)?

      • 2 months ago
        Anonymous

        bubble should be bursting within next 6 months if repo numbers aren't exaggerated.

        • 2 months ago
          Anonymous

          So you're saying I'll be able to pick up an used GTS for cheap in a year when the recession is in full swing?
          2008 2.0?

          • 2 months ago
            Anonymous

            If you mean that it'll be below msrp used, probably.

  11. 2 months ago
    Anonymous

    Buy a Turbo S

  12. 2 months ago
    Giddy

    Buy 2 922gts

  13. 2 months ago
    Anonymous

    Buy a Singer nigguh

  14. 2 months ago
    Anonymous

    you'd be far better off investing it all

    • 2 months ago
      Anonymous

      There's a sweet spot where spending a bit gives you more happiness than hoarding it all. CvK drives an old Miata, so it's not about the dollar amount.

  15. 2 months ago
    Anonymous

    Buy a house with garage in full or only tiny mortgage.

    Or start a business.

    Get a cheaper Porsche instead.

    All those reasonable things said, get it if you want it. I can't say I haven't spent too much on cars already - but at least all of them have appreciated since I bought them.
    1$ camry -> 3000$
    10k corolla -> 25k corolla
    13k supra -> 70k supra
    28k skyline -> 70k skyline
    25k patrol is too newly bought, but probably won't do much price-wise

  16. 2 months ago
    Anonymous

    >Talk me out of buying a stock investment with 30% depreciation the first year and 10% loss on the principal thereafter. It's value will never go up and each year there is a maintenance insurance fee of 3% and a distant chance this investment will Crash&Burn.

    Why would you invest in such a thing?

  17. 2 months ago
    Anonymous

    Honestly, why?

    The money fell in to your fucking lap. Live your life. You'll never be X age with a car that sick again. You're still investing the rest anyway

    t. trust fund kid who spent a good chunk on a car.

    • 2 months ago
      Anonymous

      oh wait this thing is 200k? Nah man, chill. That's coming from my trust fund ass. Treat yourself in the 70-99k range.

  18. 2 months ago
    Anonymous

    Stocks are shit right now, and nobody knows how good they will be

  19. 2 months ago
    Anonymous

    I would go for something like this.
    https://collectingcars.com/for-sale/2010-porsche-911-997-gt2-rs
    You can enjoy it for a few years and be sure you won't lose a penny. Then invest the rest however you see fit.

    • 2 months ago
      Anonymous

      >sure you won't lose a penny.
      Famous last words. Cars in that price bracket have ridiculously low volumes of buyers and sellers. It's easy to lose $50k flipping one of those.

    • 2 months ago
      Anonymous

      >you won't lose a penny
      How much does it cost per year in insurance and maintenance, and how much does it appreciate per year?

  20. 2 months ago
    Anonymous

    For that inheritance you should be getting an executive class at best

  21. 2 months ago
    Anonymous

    Just don't buy it with cash like a retard.

    • 2 months ago
      Anonymous

      Whats wrong with cash purchases

      • 2 months ago
        Anonymous

        at this point in history, nothing. the economy is at a turning point and interest rates are likely to increase.

  22. 2 months ago
    Anonymous

    >Talk me out of buying a 992 GTS and giving the rest to a bunch of hook nosed israelite to play with
    Do it kike shill

  23. 2 months ago
    Anonymous

    Buy a 911 GT3 Touring

    • 2 months ago
      Anonymous

      Porsche have gone to training at Shlomo's and now demand you buy expensive tat before you're allowed to buy what you want. Sadly, people like OP don't tell them to get fucked.

      I've had the same crap from a Rolex AD and told them off.

  24. 2 months ago
    Anonymous

    you should kill yourself instead. buy whatever intravenous drug you can find, then overdose and die.

  25. 2 months ago
    Anonymous

    Why? A fool and their money are soon to part.

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