Quote:
Originally Posted by f2point8
Okay- so here is the question: I am in my early 30's. I worked very hard (in my opinion) to get to this point in my life. I feel like I have a lot of time to let my savings grow at the rate I’m building it. The cars I am feeling drawn towards cost between $65,000-$90,000. I know, I know--Totally not frugal, a totally self-indulgent want, not a need.
Any thoughts on this situation?
Thanks.
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I may have missed it - what is your monthly mortgage payment? Do you live in a huge house, or are you in an extremely high-cost-of-living area?
Here's my $.02 - if I were in your shoes, there's no way I would buy the car, even if you can afford it. Not only that, but I would try to reduce my monthly expenditures and save, save, save.
Here's why - pulling in that kind of salary, if you make a concerted effort to sock away as much money as you can, you could retire very soon, perhaps in 10 years or less.
Having financial freedom to do whatever you want while still in your forties would be a fantastic situation, and you have the means to achieve it.