definitely wait until your business is solid before buying an s2000.

...can't believe anyone making 900 a month can even afford a car. i guess it's all about where you spend your money.

 

I'm in the same boat as angerman with a little more coming in. Here's that article I made mention to in my first post.

http://www.charlotteobserver.com/2010/01/1...early-pays.html

Here's the main example that I liked cause I know many of us don't want to read the whole thing.

Take note that in the example if you start paying at 22 you stop after 9yrs as apposed to paying till you retire if you start at 30.


An example: Beginning at age 22, you put $2,000 a year into an IRA, where, we'll assume, it grows at an annual rate of 6 percent. You stop making contributions after nine years. By 65, you will have amassed more than $570,000.*

On the other hand, if you don't make any IRA contributions until you're 30, and then drop in $2,000 a year for three entire decades, you'll have $470,000 when you're 65.*

Start early, and $18,000 turns into $570,000. Start only a bit later, and $60,000 becomes $470,000.*

 

I haven't read through other people's replies to you question, but about 9 years ago, I was in a similar boat. I was 22 years old but I made a lot more money than you did... Here's my thread about it.

https://www.s2ki.com/forums/index.php?showtopic=4070

Fast forward 9 years. I'm married to a great woman, have a nice place, make way more than I did 9 years ago and I bought my first new car ever in July 2009. A Berlina Black S2000 CR.

I know that the S2000 is out of production now and you won't have that opportunity, but the truth is, cars will always be awesome and great and blah blah blah. If you hold off on buying a car you like today, you may never know what it is to own one. For example, I don't know anything about the Civic Si, Prelude SH, Integra Type R, RSX Type S, first gen TSX, E46 M3, etc. etc. etc. Needless to say, the list goes on. Would I like to have all those memories? Sure... I like cars, I'd like to try'em all out, but not at the expense of my long-term comfort.

If you make short term decisions, things will be glorious and change your world, but they could very well fnck up your end game.

 

900/mo and living out, you cannot afford a sports car like the s2000.
i'm also 22, but i live in the house, make more and have much less bills than you.

i'd definitely reconsider if i were you.

 

The most important thing I got from all of this (other than not to get an S2000 just yet) is the IRA thing.

Ive read books like Rich Dad Poor Dad, Wealthy Barber, and The Rich Guy Next Door (some title like that).

My goal for March is to set up an IRA account.

http://www.getrichslowly.org/blog/2006/05/...vors-the-young/

 

[cough]cliche[\cough]

Just imagine the nice cars you could have in the future by making smart financial decisions now.

 

What if you die the day you could of bought the S2K, and then not have the chance to drive it for a day before dying? You know how bad of a death that would be?

 

1. Buy s2k
2. ???
3. Profit!

 

And some people wonder why their financial situation is such a mess. This is the kind of mentality that sends people spiraling into debt. Yes, there is a probability of getting shot and killed tomorrow , but does that mean you should go and buy a Ferrari today? While I'm not saying that you specifically are one of those that don't have their finances together, try not to let pop-cultural cliches influence you too much.

As for the question of "how long must someone wait to get the car of their dreams", well if you have your finances in good order, hopefully not too long from then. Otherwise, living for the sake of obtaining nice tangible goods when you can't afford them will most certainly result in a pile of regrettable decisions. Car enthusiasists may appreciate and want really nice cars, but that doesn't necessarily mean they'll have the resources to buy them.

So, if the OP has ever watched Suzie Orman, I would say that the overall answer to the question of affordability is : "DENIED......You are SO denied. DENIED DENIED DENIED"

Please take that in a constructive manner. Just lookin' out for ya.

 

Sarcasm?