Its a 1984 thunderbird turbo coupe, My turbo light and overboost light come on on start up but then quickly shut off and dont work during driving. What do you think is the problem?

 

Check turbo is operational and not jamming the impeller(s). If it's turning and the actuator is OK it is likely the light in the dash (electrical) is on the fritz. Check for a clogged catalytic converter. Just be sure it's not cherrying your manifold (hot) - if so - turbo or converter dead - rebuild or replace. I saw a turbo melt down everything under one guys hood in a non-Ford car once. Lucky there was an extinguisher nearby.