3rd Apr 2017, 20:06
It's all about one's vision and goals in life really, and there's no real right answer per se. I didn't have a lot of money growing up, and after school I worked at rather low paying jobs for years.
But even after having been working at well paying jobs for 15+ years, I still think back to that era. If you've been poor, you never want to be poor again. So hence why I am still driving a 20+ year old truck. Yes, I could buy any number of other cars, trucks or whatever. But I guess that isn't a priority.
4th Apr 2017, 16:01
My boss told me years ago to write down 5 goals in life and carry it in your wallet. It doesn't matter what you made or where you came from. Learn from the past, but look ahead always. Great advice. He said once a year then check on what you wrote down. And it's only for yourself. See how you did. Often in my case that list would change. The top 3 almost always pertained to family home, education etc. But almost always a car was in the mix. I know this is a car forum. It must carry some priority or future dream to be reading it. If you have owned the same vehicle for 20 years and are still keeping it, that must be the reasoning. You know your own car more than anyone at this late date. I had a relative that dropped dead in his mid fifties. Worked every ounce of overtime and did side jobs. To retire sooner and move south. He didn't make it. No balance in life while he was still young. He saved over 400k and ultimately his wife spent it all in an Alzheimer's elderly care place within a short number of years. Kind of sad.
Lastly, if you do save and buy a really cool car or jet skis whatever, if you think you won't get another job, sell it. I set up a separate account to save up and buy a car here and there over the years. That way household money doesn't get mixed in. That list idea really helped me. I worked smarter as well. In the end money in itself isn't fun. History and every generation thereafter doesn't have to repeat itself. Enjoy while you can, but still save too.
3rd Apr 2017, 11:27
Not saying this is a classic, but my son who is 41 bought his Viper at age 30. The point being, if you really apply yourself, it's very possible to buy a car of your dreams at an early age. There's many excuses and some are valid, but you can very possibly buy today. So the money part can be addressed if you really want it. My dad did the same with a new Cadillac. Even as a young parent, I have had some swift rides. I am not writing that to have some ego. It's to simply encourage that nothing can stop you in most cases if you really want something. A home, family, education and something really fun and special to drive around in. The only real benefit waiting to 50 is low insurance rates on a late model. You can insure a classic even as a younger person with a company like Haggerty Collector Car Insurance.
I did some flips, slowly working up to nicer cars even in my 20s. Always fixing one up and enlisting friends and shops for reasonable work and paint. My one son later would remove parts and upgrade by selling those parts on eBay and buying upgrades there. Bought tools, a welder and even powder coated. Starting with 90s Mustangs; both plentiful, cheap and excellent high performance potential. Probably one of the best bang per buck cars ever. And being in their club, learning and sharing tips. Sure others are doing the very same now. There's ways. You can buy your Grand National this way. They are cool.