Buying a Porsche vs investing the money instead
Yesterday I saw two football team mates of mine driving away with a Porsche.
As a financial planner, I could not stop thinking about the money that was wasted by buying an exotic car.
I started to make some calculations about the real cost of owning a Porsche vs investing that money instead.
According to www.edmunds.com the minimum you spend over a period of 5 years on a Porsche is $78,992. This includes depreciation.
If $78,993 would have been invested with 7% growth the value in 5 years will be $110,790 in 10 years $155,389 and 20 years $305,674.
Would you buy a Porsche or invest that money instead?
Posted on Wed, May 16, 2018
by Simon Snelder filed under