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No. of Recommendations: 1
Experience is a wise teacher. I had a used car once, replaced the retread tires, the alternator, the battery, the front end....the thing was a piece of junk....it’s one asset was that it was built like a tank if anyone ran into me or I to them, I would be relatively unscathed. It also couldn’t pass a gas station without stopping.

We bought a 3 year old just off lease car 4 years ago. It's been absolutely fabulous and saved us a considerable amount of money. I view a car as a tool, not an emotional purchase, and prefer not to pay more than necessary, though we can easily afford to do so. A new Volvo I bought 30 years ago, well before they became Fords, gave me problem after problem, as did a new Ford Taurus station wagon. There is nothing magically great about new cars or inherently bad about used, though anyone buying a car from Dad was a sucker.

We will always watch our pennies...it's just who we are. But we will spend on other things, like a vacation home, or college educations for our kids and possibly grandchildren should they have them. Would love to take future grandchildren over to an apartment in another country for the summer, or just do extended family vacations in general. No doubt others will find these to be frivolous purchases, but that is something we are willing to spend money on and can afford to do so. We all have our preferences and that's great as long as we can afford them. Money can't buy you happiness but it sure can help buy you what you want.

We retired in our 50's and our assets have continued to increase, so clearly what we are doing is working for us. But we have known many people who made much more money than we did, and are living paycheck to paycheck. It's impressive the money they blew through rather than saving.

IP
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