Those are the best friends to have: you pay for the fuel and you can use the jet, helicopter, or yacht!

 

depends on your circumstance really

for instance if you have a paid off house/condo.etc doesnt really matter- you could work at 7/11 and still afford one.

 

Hmm. Interesting thought. $7/hour. Gas at $4/gal. Ferrari at 13 mpg. Each hour of work will get you 22 miles worth of road time. Ferrari at 130 mph or about 10 minutes worth of grins per hour of work! I knew those math classes in high school would come in useful....

 

These are such stupid threads.

 

I completely disagree, they are invaluable and represent other folks' lifelong dreams. I don't own a Ferrari but I remember dreaming of being completely obsessed about Porsches when I was 12... I was a computer geek back then and recall asking on the old online Porsche newsgroup (alt.autos.porsche) what I had to "do" for a living in order to afford a Porsche.. I got all the same answers - you don't need to be a millionaire, and everyone had a different definition of success... But I mostly remember getting advice of just doing what I love, be sure to work my butt off, be financially responsible, and keep my goal in sight.. and it will come naturally... Well I'm turning 30 next week and guess what - I get to celebrate with my wife of 6 years, my beautiful 15 month old daughter, and my dream car that I bought this past January

 

I disagree as well. When people ask what do u do for a living that helps you afford your dream..... They may be asking because they would like advice from people with similar intrest as all of us on these forums.....if you think it is stupid don't respond

 

Ok- I can see both sides of it. I guess over the 10 or so years in the car scene on these kind of boards ive just seen this same question asked over and over. I can see it being a sense of motivation for people. To put on my hypocrite hat on. To fund my to ferrari/other high end vehicle savings fund, I just put a 15 hour shift in with my construction company. Hard work certainly pays off.

 

Just remember that there are no cheap Ferrari's. The purchase price is only a portion of the total ownership cost.

 

I think it's a fair question to ask. However, it doesn't only pertain to how much money you make, but what your priorties are with that money. I'm in the dental field and currently have a nice income (take home about $30k per month) and could probably "afford" a Ferrari, but at this point in my life it's not a main priority; I'm 32 and have school loans to pay off among other bills, so I'm waiting a few years where I feel more comfortable putting down that much money on a car. The Porsche holds me over for the mean time ;-)

 

I like these threads. They make me know where I should be and to keep my eye on the prize.

I dont make much money now but know how to afford things and still save. I dont drive a Porsche or Ferrari but considering some things I know I couldve been driving a Cayman right now or an older 996 CS for the price of my S4.

My Student loans and upcoming condo mortgage will put a halt to all my modding so I can keep saving for emergencies. Hopefully my future company takes off and I can be very stable. I am looking forward to taking care of a family and having a good life.

I know my skillset could be better used at a higher paying job but I will have to deal with what I have until another opportunity comes up.

If anyone here has a financial firm in NY and needs a good employee let me know.

Congrats to all the exotic owners here. One day I know Ill be in your shoes.

 

As stated. Doctor, Lawyer, Investment banker are your typical cut and dry answers. Very hard work in school will get you into those fields.

On the other hand, the majority of exotic car owners are savvy small businessmen/entrepreneurs who had the smarts and more importantly luck to find a niche market to succeed in. You can't really teach that, nor is there any way to replicate it because each case is so unique.

I have been asked this question three times over the past year and each time I have told the person to just work hard in whatever they decide to do and save save save. Two of the three didn't like my 'generic' answer, but it's really the truth.

 

I'm not going to pretend to be at the high end of the income spectrum for this community, but I do make a very solid living by any standard. As you mentioned, my success is a combination of unchecked determination, an unmatched work ethic and a bit of luck. I'm smart but many I know are smarter. Work hard, save your money, and live simply (repeat until memorized).

 

This is right on the money... it is all about priorities. Do I want to pay off my mortgage? Do I want to ensure my retirement is funded? Overlay the age old dilemna of the time value of money vs. current state of happiness. We all come up with our own version of the correct answer.

Good luck with yours.

 

My answer is two fold

1) How to acquire it:

Work hard. Save. Have enough financial cushion.

Most people also slowly graduated to a ferrari from other cars over the years. So as your career or savings grow, you can upgrade.

2) How to keep it:

Make at least 20% to 30% downpayment if financing the car so you always have a cushion. No one knows what the future holds so if you ever have to do a fire sale for any personal or financial reason, you will still have equity in the car and selling that car will not cause mental hardship. Cars come & go - but always plan for the unforeseen & on not losing your health or dignity in such a scenario. That's my priority.

 

Good selfless sound advise. Props to get you off the zero-bubble, mate!