Old bike - Upgrade Components or Keep Saving

I have a 2012 Madone 5.9 that has served me well and is in fair shape.
Is it worth (or even possible) upgrading the drive train or is it better advised to keep saving towards a new bike though it could be a couple years out?

Is your current bike stock? With the Ultegra 2x10 Di2? Although your Madone is pushing 11 years now, it still has nice components and is a nice bike for riding.

I think you could upgrade the drive train, but I’d personally save the money and pick up a new bike. When you buy a new complete bike you often are getting a pretty big “discount” on the components. And many new bikes come stock with (nice) carbon wheels now.

I’d wait.

Unless you are particularly attached to that frame I’d wait, upgrading the components of the old bike will only get you marginal, and perhaps unnoticeable, gains.

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Just a question: do you need a new drivetrain or want a new drivetrain? If you just want one, I’d start saving now so you can buy your next bike with cash.

Still >10 years is old for a bike. Standards have changed (e. g. from rim brakes to disc brakes as well as wider tires). A new bike is likely to be a lot better in many ways compared to your current bike. To me the biggest improvements for road bikes are way easier climbing gears, wider tires and disc brakes (note that the ability to take wider tires is connected to disc brakes). A lot of even aggressive road bikes support up to 35 mm tires. If you want an allroad/modern endurance road bike, you can go even wider. Basically it opens up new routes for you to ride. Ditto for easier climbing gears, I think these are a noticeable improvement (unless you live somewhere flat, of course).

I in principle would never upgrade as oems get big discounts on components we don’t get.and you get all the nice new tech and probably stiffer frames

2x10? Keep it. The difference 10-11-12 speed isn’t noticeable unless you’re 1x or have a big cassette. I’d only change if you want to go with a lot lower gearing like 50/34 x 11-34. You’re going to spend $800 in parts for the same thing otherwise.

Get a fresh chain/cassette and cables for the new year. Just replace the whole bike at once when the time comes so the standards match.

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I was in the same spot last year. 12 year old carbon frame with ultegra sl. After looking into upgrading to di2 or sram AXS the cost was not worth it. Buying new was best decision and I’d do the same again. Wider tires/wireless with AXS/more comfy geometry.

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All good, thanks everyone for your thoughts.