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Peter: Emigrate to Europe.

I share your pain.
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Event: Basically. I believe Spec Miata is designed so you won't be so hard out of pocket, but you
will have to spend. Competing in a street-car class will give you more leeway (and you won't have to spend on a cage and racing tires), but you have to check what's close to you and what mods you can run.
Did you not read my post? Like Smallhorsese says: his father basically gave up his own career ambitions and worked his nuts off to support Hamilton in karting...
long before Ron Dennis even knew who Hamilton was.
Sure, we give Daddy guff for not knowing how to handle a Carrera GT (a tricky supercar if there ever was one), but he did get one thing right... he recognized his son's extraordinary talent and chose to develop it early.
It's not rich parents you need... (Not if you're in the US or UK, mind, elsewhere, it helps)... it's dedicated ones. Because becoming a racing driver is a terrible business decision. Unless you're one of the very talented few who can make it to the top echelons of the sport, you'll be spending lots of money over a long time hoping to catch a sponsor or a ride in a sponsored team. Now, if you're rich, you can own a sponsored team... but "rich" racing drivers are running as privateers at the bottom rungs of Porsche cups and Touring Cars worldwide.
Sure... I know a few racing drivers who are well-off... and whose personal fortunes support them in racing... but guess what? That money only goes into their racing because they're second and third generation racing drivers, and the family's income basically revolves around racing and automotive sales, repair or resales.