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    what % of networth is too much?

    would you spend 5-10% of your liquid networth on a sports car like our beloved porsche?

    Re: what % of networth is too much?

    Yes of course. There are no hard and fast rules about how you should manage your finances. It's up to you.

    Re: what % of networth is too much?

    I would agree, buy what you can afford. People win, inherit and earn additional cash all the time. Whether it's a windfall or personal income, if you can afford it, do it. Life is a journey, not a destination. Enjoy the ride!

    Re: what % of networth is too much?

    Whatever floats your boat - life is short, enjoy it while you can

    Re: what % of networth is too much?

    strange question!
    a lot of variables and personal preferences.
    not to mention you don't state what percent of your net worth is liquid or whether or not you still have income.

    Re: what % of networth is too much?

    Quote:
    zedd06 said:
    would you spend 5-10% of your liquid networth on a sports car like our beloved porsche?



    Seems a bit high of a percentage but then again if you have other investments, etc. no big deal. Enjoy but don't over-extend (this will take away from the enjoy part)

    Re: what % of networth is too much?

    Seems to be too much to me as well. But i guess everyone is different

    Re: what % of networth is too much?

    Quote:
    SoCalHoosier said:
    Quote:
    zedd06 said:
    would you spend 5-10% of your liquid networth on a sports car like our beloved porsche?



    Seems a bit high of a percentage but then again if you have other investments, etc. no big deal. Enjoy but don't over-extend (this will take away from the enjoy part)



    Lol I wish my cars were only 10 % of my net worth.

    Re: what % of networth is too much?

    Seriously....

    Re: what % of networth is too much?

    Everyone is different, and you just have to ask yourself if the more important things (i.e. your family) are taken care of.

    Some questions I test myself with are:

    "If I lost my job tomorrow, how would I make do until I find another one (I'm the sole income earner in the house)"

    and,

    "If a meteorite hit me tomorrow, what would become of my family?"

    If you have those covered off solidly, then you are in good shape.

    Assuming you are calculating actual net worth (i.e. not including the full value of your house if there is still a mortgage outstanding etc., then 5% seems pretty OK to me. Again YMMV.

    So, looking at anything in particular? Z06 perhaps?

    Re: what % of networth is too much?

    Quote:
    zedd06 said:
    would you spend 5-10% of your liquid networth on a sports car like our beloved porsche?


    I've never had that little of my finances represented by my automobile portfolio

    Re: what % of networth is too much?

    yes. i can answer with confidence those question you pose. I agree with your listed priorities. I propbaly shoudl wait on purchase. We are going in deep with new house in a new state. I will use cash to buy well. I think I will be over sticker shock in the fall.

    I am looking at a cayman S.

    Re: what % of networth is too much?

    Quote:
    zedd06 said:
    I am looking at a cayman S.



    Nice!

    If I can manage to get a little "richer", that is what I hope to get too. I know they are a little overpriced relative to the Boxster S, but I really like them.

    You've got the right approach to get the house settled down first, it is amazing how many little ancillary costs can come up when moving, especially long distance.

    Re: what % of networth is too much?

    Quote:
    Grant said:
    Quote:
    zedd06 said:
    would you spend 5-10% of your liquid networth on a sports car like our beloved porsche?


    I've never had that little of my finances represented by my automobile portfolio




    Re: what % of networth is too much?

    Quote:
    zedd06 said:

    I am looking at a cayman S.



    With a net worth of about $1 mio, that doesn't sound like a bad purchase at all (assuming there is still income, and as amfj088 said, you are only including the equity in your house, not the selling price).

    That said, it sounds like you are stepping back to look at the purchase decision from the outside--that will definately help you to make the right choice for you.

    Re: what % of networth is too much?

    i am fairly competent with financial & investment matters. I will likely proceed with car purchase after I get adjusted to my new more expensive house. I am using liquid funds to buy more so I don't feel as wealthy.

    A cayman is very sweet but it is an emotional item. I have always done well financially because I don't always act on my emotions.

     
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