Retiring a year or two from now? You’re probably thinking of a brand-new car as a reward for all your hard work. The new car models draw you and they can’t wait to be flaunted and driven around the neighborhood. Well, allowing yourself to be hooked by their inherent allure won’t be a problem if you have a larger than average nest egg; if not, it’s safer to think twice.
Always consider the impact of every expense on your retirement fund. If a brand-new, fancy car is on your wish list, think of this: Is it worth the risk of waking up one day to find you’ve run out of funds for your other, more urgent needs? This doesn’t mean you should stick with that old, rickety car in your garage either. If you want to replace it, used cars from Indianapolis dealers will do just as great as the brand-new ones.