I Always Wanted 911 Porsche Cabriolet!

by Krantcents · 33 comments

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I always wanted a Porsche convertible!  It doesn’t stop there; I like Ferrari’s, Aston Martin’s, BMW’s, AC Cobra’s and much more.  I like antique and classic cars too.  Maybe it is a fantasy, a dream or a goal.  I remember the first time I drove a Mercedes Benz 500 SLC or saw a Ferrari up close.  It was one of my goals or a conjured up sequence fulfilling a psychological need!  Whatever it is, it is no longer a fantasy!

When I was in my thirties, I achieved financial freedom!  I accomplished all my goals at the time including trading my more modest BMW for a Mercedes.  Financial freedom meant that I no longer worked for money because I had a steady income from rental property. Just knowing that I determined my future changed my thinking immediately, but that was not enough. Growing up with conservative parents always meant I got what I needed, not necessarily what I wanted.

There is nothing wrong about those values, but I wanted more.   After all, it got my parents through the depression, helped them have successful businesses and paid for my college education.  We lived in a ten (10) room custom built house next door to my doctor and dentist.  Not bad for two (2) immigrants without much education.  They were two (2) very determined people who worked hard 24/7 to have the American dream.  I learned a lot from them which helped me succeed in life.

In fact, I normally live by those values daily!  I bring my lunch to work, rarely go shopping, spend very little on most things, but sometimes you give in to your desires. You know what I mean you give in to your desires.  When you are on a diet, you break it by having a donut or something else.  You may be working on your goals such as reducing debt or sticking with your budget and something happens.  If you have savings or an emergency fund you can stay on track.

I am talking about something that can really throw you off track.  A large purchase can throw you way off track immediately and in the future.  It will keep you from reaching various goals including reducing your retirement savings.  Can you bought a Porsche Cabriolet for cash?  Do you want to invest $115K in a car or in your retirement? In five (5) years, the car will be worth less or invest conservatively and it will be worth more.  What do you do?

Most of us will never get a Porsche convertible, but consider it a metaphor for any big expenditure.  All of us break our budgets with purchases you do not need, but it is a choice.  Which is more important to make the purchase or stick with your goals?  It is not just the money, it is the fact it throws you off track for months, years or forever!  $100s or $1,000s can easily throw you off your budget and your goal.  How do you stay strong?

How do you resist getting a Porsche or some other fantasy?  For me, I keep my eye on the goal and I make it important to me.  Not everyone is going out to buy a Porsche, but a $20K purchase can throw you off too.  You might buy a big house and take on a bigger mortgage than you can afford or a bunch of smaller purchases.  This is why you have financial goals and the budget or structure to help you achieve it.  Keep your eye on the goal and stick with our budget.

Final Thoughts

I gave up my fantasy of getting a Porsche convertible because I don’t want it to stop me from reaching my goals.  I actually gave it up a long time ago (25 years) because I could not justify buying a $60K (at the time) car.  I knew it would throw off my goals and materially affect my lifestyle.  My solution was to rent one for my 40th birthday.  When my birthday came around, I never went forward with it.  It just was not that important to make happen anymore. Perhaps, enough was enough! I always wanted a Porsche convertible, but decided to keep it just a fantasy!

Photo by: gareth 1953

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{ 28 comments }

AverageJoe September 12, 2012 at 7:17 am

I love the deal you made with yourself (and then rejected). Those deals alone are part of the fun of striving for goals, I think. What’s that song? The waiting is the hardest part? Maybe it’s the most lucrative….

Krantcents September 12, 2012 at 7:31 am

I try to attach things with goals to make them even more attractive or desirable. It keeps me motivated particularly during the difficult times.

Lance@MoneyLife&More September 12, 2012 at 7:34 am

I think it is fun to go the other way. Instead of buying a larger or normal house we bought a smaller townhome and will be using the money we save to aggressively pay off my girlfriend’s student loans. Food for thought!

Krantcents September 12, 2012 at 8:19 am

Savings for me is my top priority! I have a payroll deduction and live on what’s left. I think I will just the car as a fantasy.

Christa September 12, 2012 at 11:49 am

Okay, I have to admit that the Porshe is shiny. And pretty. And shiny. (Did I mention that I love shiny things?) But you’re right: there are more important things than owning (an extremely beautiful and shiny car). Good luck in your new goals!

Krantcents September 12, 2012 at 12:55 pm

Actually, the goals are the same the car will remain a fantasy. Why let a car or anything else keep you from your goals.

Brent Pittman September 12, 2012 at 12:24 pm

Gotta stay true to your priorities, but don’t forget to have fun! If you’ve achieved financial freedom and work for fun…I say buy the car and come pick me up for a spin. In-N-Out milkshake on me!

Krantcents September 12, 2012 at 12:57 pm

My conservative side just won’t let me spring for that much car. Besides, it is more fun to keep it a fantasy. I have to stay true to my values and stay on track.

Marie at FamilyMoneyValues September 12, 2012 at 2:55 pm

Hear hear! You have to live life while you go through it. But the choices you make certainly can have a large impact on financial fitness!

Krantcents September 12, 2012 at 4:25 pm

I am all about choices! If I have a really great meal out, I cannot do that every day. If I get my 911 Porsche, I probably will have to give up something equally big. I would rather travel very other year and rack up experiences.

maria@moneyprinciple September 12, 2012 at 1:35 pm

Nice wheels! It seems to me that for you cars are a ‘protected want’ – these are the things that are so important to us that we should allow ourselves to have. I don’t lust after cars – one is pretty much as the next; but electronic gadgets are something else.

Krantcents September 12, 2012 at 2:17 pm

Cars are a male thing, so you may not understand. Gadgets are too! I love gadget too, but I have to justify it in order to buy.

farmland investment September 12, 2012 at 1:47 pm

Very neat picture. And I’d reckon that one day in a Porsche would be enough!

Krantcents September 12, 2012 at 2:18 pm

It satisfies the fantasy and my inner cheapness!

Kim@Eyesonthedollar September 12, 2012 at 5:13 pm

Do all teachers want fancy cars? My husband is crazy about 65 Mustang Convertibles. It would not be practical. They don’t even come standard with seatbelts. I agree focusing on the long term can make you resist those big, silly purchases that can derail you.

Krantcents September 12, 2012 at 6:00 pm

I have only been a teacher for 11 years. I am more of a problem solver (former CFO, consultant and entrepreneur) than anything else.

MB @ 12 Year Career September 12, 2012 at 6:46 pm

Ahhh… I can totally relate. My dream sequences involve a beach house, though. I’ve even lusted after some on realty websites. It’s bad. I won’t allow it to distract from my goal of early retirement, but there’s always those moments where I think about working beyond when I could retire so I could fund this dream.

Krantcents September 12, 2012 at 7:04 pm

One of my dreams is a place at the beach. I vacationed at the beach for many years, renting homes, condos, townhouses and hotels. There is something so enticing listening to the ocean waves hitting the beach. Maybe someday! In the meantime, I will continue to just rent.

Jason Clayton | frugal habits September 13, 2012 at 5:44 am

I’ve never wanted a 911 Porsche Cabriolet, but after seeing that picture I want one now…. 10 years ago I toured a new Gulfstream 3, and ever since then I wanted one bad. Not sure if that will ever happen. :)

Krantcents September 13, 2012 at 6:46 am

Everyone needs goals and along with those goals come some fantasies. Just be careful not to confuse the two.

Buck Inspire September 13, 2012 at 10:23 am

Great story! Funny when we were younger, fantasy items outweigh goals like retirement. The ones who truly have fantasy golden years are the ones like yourself who don’t make their fantasy a reality. The ones who really suffer keep chasing after the Porsches when they can’t even afford it!

Krantcents September 13, 2012 at 1:13 pm

I separate my fantasies from my goals. I just could not justify the cost of such an expensive “toy”!

William @ Drop Dead Money September 13, 2012 at 2:43 pm

I used to want a Miura, and then a BMW Z8 when that came out. The Z8 was a limited production model, but my wife bought me one for a surprise birthday gift. Yep, wow was the word!

Have you seen them? I still believe it’s the most beautiful BMW ever made. Mine is silver with red seats – the classic German racing color scheme. Too bad it only came with a stick shift. And when it snows, I can’t take it out, either. Other than that, it’s fantastic!

The nice thing about it is the wife paid cash. No payments.

I love opening the hood and looking at that sweet engine. The doors open, too. but my bookshelf doesn’t have enough space to always leave them open. But when I’m on the phone, I love swing my chair around and gazing at that $24.95 model my wife bought me for my birthday. Cash, baby! :)

Krantcents September 13, 2012 at 3:39 pm

Nice surprise! the real or lifesize Z8 is around $125K. I like it too, but it is as practical as the Porsche 911. I just keep t a fantasy.

Financial Samurai September 17, 2012 at 2:57 pm

Larry, you MUST buy that 911 Convertible! If it was from 30 years ago, I’m sure it’s much cheaper now too!

You only live once, and you’re rich already, so why not?!

Krantcents September 17, 2012 at 3:13 pm

What is the saying, “you can never be too rich or too thin”. I would necessarily agree with the too thin part. My frugal (cheap) side keeps me from spending money on frivolous things. A 911 Porsche Cabriolet will remain just a fantasy.

Barbara Friedberg September 18, 2012 at 7:43 am

Krantc, I thought you were going to say that you treated yourself to a luxury car!!! But I totally understand your decision. I would do the same thing, although sometimes I think it’s important to splurge, as long as it doesn’t derail your long term plans.

Krantcents September 18, 2012 at 9:27 am

I have already done the Mercedes, BMW, Audi, Nissan 300ZX, Toyota Supra etc. My splurge is overseas travel! I use my miles to have the luxury of business or first class. I stay in 4 star hotels or have a veranda cabin on a cruise ship. I enjoy spending money on fun experiences rather than all at once on a car that is way too expensive to own. Besides, I got your attention!

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