10 Reasons A Retiree Regrets Buying A Luxury Car [Yahoo! Finance]
NerdWallet, Inc. (NRDS)
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Source: Yahoo! Finance
At the same time, it can seem like the most financially responsible time to make such a large purchase. After all, you deserve to splurge a little bit, right? Well, the full costs associated with owning and maintaining a luxury car often exceed initial calculations. Interestingly, many seniors see the risks and disadvantages of this popular retirement fantasy as they approach retirement. In 2023, Transamerica surveyed 10,000 American adults earning anywhere from $50,000 to $199,999 about their biggest retirement goals. Tellingly, buying a luxury car — or a vehicle of any kind, for that matter — didn't make the cut. According to its report, "The Retirement Outlook of the American Middle Class," retirees primarily have relationship and experiential goals in their golden years, including volunteering, enjoying hobbies, and traveling. Beyond activities, retirees overwhelmingly show a desire to optimize time spent with friends, family, and grandchildren. Put another way, retirees were fo
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