Would you delay retirement for 6 months to purchase dream car?

[pbonsalb]

Sure, why not as long as work isn’t killing you.

[TallGibbs]

Originally Posted by 412g80

May be I am one of the goofballs

I never want to retire. Boredom would kill me.

I have similar thoughts on boredome, however I frame it more like "in retirement, I get to finally pursue all of my hobbies." So, it's not a matter of being bored, its that I now have financial freedom to go and do all the things I really enjoy 24 hours per day.

The key to me is: have hobbies IN ADDITION to doing work that you love. Win-Win situation there if you can figure that out (and then report back to me how you figured that out).

[dreamingat30fps]

My gut says if you make enough to buy the car in 4 months then you should probably have enough in retirement where having $150k or whatever it goes for less would not make much of a difference and if it did I would be concerned you don’t have enough cushion in your savings.

However for a simple answer… sure I would. I’m self employed and I don’t hate what I do so doing it for 4 more months would not be an issue.

[Mavus]

easy yes as long as you are not miserable doing it and your health is not impacted

[Honda]

No, I wouldn't delay my retirement. I would get something I can afford right now rather than waiting 6 months and it may or may not happen

[HFW003]

As someone who is very close (a few years) to retiring I personally wouldn't do it and I have a great job which I absolutely love!

We all have different dream cars and things we want to do when we retire.

My Wife and I for example are going to go and live in Europe for a few years and when we get back I am going to by my "dream" cars. Something like an 2002, Fiat 124S or a TR4/6 rather than the latest and greatest.

Do what works for you!

[chassis]

Originally Posted by mjj

Thinking about purchasing my dream car next spring. It is pricey and would probably require me to delay my retirement an additional 4 months or so to pay for it. I am in decent health.

Just curious if anyone has contemplated this question?

What percentage of your net worth does the price+taxes of the car represent?

Net worth = all assets (including residential and commercial RE) minus all liabilities (including mortgage on RE, if any)

[pbonsalb]

Originally Posted by chassis

What percentage of your net worth does the price+taxes of the car represent?

Net worth = all assets (including residential and commercial RE) minus all liabilities (including mortgage on RE, if any)

How boring to apply an accountant or financial advisor's one-size-fits-all formula to apply to one's dream car purchase. The OP appears to me to be way past Financial Planning 101.

[mjj]

As the OP, i worded my original post poorly. I turned this into a financial/affordibility question more than the true underlying intent.

Which was; is it foolish/selfish to spend significant money on a 4th vehicle as I am winding down my career?

I have a fully funded retirement, own multiple properties and have zero debt. I love my job and my CEO wants me to stay on and retire with him at the same time. I just purchased a 25 M4 Comp a few months ago. Love it and plan to keep it for the foreseeable future. I just always wanted a Porsche Spyder but they never had enough power to justify a narrow use vehicle…until the RS version came along with the GT3 engine. Reports are that the boxster is going to be all electric by 26 so I have the scarcity and time is running out influence.

I was just interested if others had ever contemplated this question and rationally walked through the thought process. To be honest, what I really wanted was “validation” from others to say go ahead and purchase your dream car.

Based on the feedback, that is what I plan to do. Thanks to all for the feedback.

[chassis]

So delaying retirement was never the issue but rather the courage to make a discretionary purchase. Is this in the ballpark?