• Submit “Good News”
  • Where to Find eMetro Times
  • eMetro Advertising
  • Contact
  • Puzzle Solutions
  • Login
  • Register

Logo

Navigation
  • Home
  • eMetro News
    • Rockdale
    • Newton
  • Lifestyle
    • eMetro Eats
    • Share the Love
    • Hometown Hero
  • Education
  • Sports
  • Expert Advice
  • Events
    • Add Event
  • Business Directory
    • Pokemon GO Locations in eMetro
    • Bridal Guide
    • Home & Garden Guide
    • Classifieds
      • Place Ad

Dave Says…Buy the Car?

By Dave Ramsey | on August 18, 2016 | 0 Comment
Expert Advice Featured Financial

Dear Dave,

car buyingMy wife and I are 31 years old and we have no debt except for our home. We also have an emergency fund and college savings in place for the kids. Over the last several months we’ve saved $22,000 for a newer car, but we’re also worried about retirement. We’ve been putting 15 percent of our income toward retirement, and we’re concerned that maybe we shouldn’t spend the whole $22,000 on a car. We make around $100,000 annually and have $50,000 in our nest egg. What do you think, Dave?

Brandon

Dear Brandon,

In your situation, a $22,000 car is not unreasonable at all. You guys are both 31 years old, and you’re going to be in great shape for retirement if you just keep doing what you’ve been doing. On top of all that, you’ve got your emergency fund in place, in addition to a nest egg and car savings. If I’m in your shoes I’d go out and find the best car $22,000 can buy.

You’re doing all the right stuff. Your kids can go to school debt-free and you’re going to have the house paid off in no time. In short, you’re going to retire multi-millionaires at the rate — as long as you keep on keeping on!

Think about this, too. As a general trend, most people’s incomes go up throughout their lifetimes. That being the case, chances are you’re going to make and invest even more money in the years ahead. You and your wife could easily retire with $5 million to $10 million sitting there.

You’ve done a great job together, Brandon. Keep up the good work, and enjoy that car!

— Dave

Share this:

  • Tweet

Author Description

Dave Ramsey

Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

No Responses to “Dave Says…Buy the Car?”

Leave a Reply Cancel Reply

Connect with:
Facebook Twitter

Your email address will not be published. Required fields are marked *


*
*

Tags: car savingsnewer carretirement

Recent Posts

  • Solarize Decatur-DeKalb Selects Contractors to Help Make DeKalb County a Solar Leader

    August 18, 2016 - 0 Comment
  • Flint Hill Elementary Receives $3,700 Grant from Dart Foundation for School STEM Lab

    August 18, 2016 - 0 Comment
  • Alcovy High School Choral Program Receives 2016 VH1 $10,000 Keys + Kids Grant

    August 17, 2016 - 0 Comment

Related Posts

  • Employer Retirement Education Plays Key Role in Long-Term Financial Success

    July 18, 2016 - 0 Comment
  • Dave Says…Commonsense Calculation

    July 14, 2016 - 0 Comment
  • Millennials Outperforming Older Generations in Retirement Readiness

    June 26, 2016 - 0 Comment

Keep in touch, ya’ll

Keep informed of what's happening in East Metro Atlanta. Subcribe to our Newsletter

RSSSubscribe

Pet of the Month Contest

Pet-of-the-Month-website

eMetro Times Photo Location Contest

eMetro Times Print Edition Online

eMetro Times Photos

Load More...
Tweets by @eMetroTimes
Chance of a Thunderstorm
Thursday 08/18 50%
Chance of a Thunderstorm
Partly cloudy early followed by scattered thunderstorms this afternoon. High 93F. Winds light and variable. Chance of rain 50%.
Chance of a Thunderstorm
Friday 08/19 50%
Chance of a Thunderstorm
Partial cloudiness early, with scattered showers and thunderstorms in the afternoon. High 91F. Winds light and variable. Chance of rain 50%.
Chance of a Thunderstorm
Saturday 08/20 60%
Chance of a Thunderstorm
Mixed clouds and sun with scattered thunderstorms. High near 90F. Winds WSW at 5 to 10 mph. Chance of rain 60%.
Wunderground.com

Popular Stories

  • Newton County to Change Hours of Operation at Convenience Centers Newton County to Change Hours of Operation at Convenience Centers posted on July 21, 2016
  • The Burger War Is Heating Up The Burger War Is Heating Up posted on July 22, 2016
  • A Look Ahead at Conyers-Rockdale Economic Development A Look Ahead at Conyers-Rockdale Economic Development posted on August 11, 2016
  • Commissioner Oz Nesbitt Hosts Annual Back to School Bash Commissioner Oz Nesbitt Hosts Annual Back to School Bash posted on July 19, 2016
  • Pet of the Month…Loki Von Kaltwasser, German Shepherd Pet of the Month…Loki Von Kaltwasser, German Shepherd posted on August 14, 2016
  • Alan Morrison Joins 2016 Atlanta Summer Organ Festival Alan Morrison Joins 2016 Atlanta Summer Organ Festival posted on July 20, 2016

Featured Listings

  • The CORK growler and cigar shoppe
  • DC Hobby Shop
  • Cherokee Run Golf Club
  • Atlanta Gran Prix Karting
  • ZazzieU Boutique
  • By Design International Salon
  • Wild Art on the Square
  • Conyers Jewelers
  • Westmoreland's Time Shop
  • Conyers Pharmacy

Event Calendar

<< Aug 2016 >>
M T W T F S S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Events

  • Farm Fresh Conyers Local Grown Food
    • 2 Jun 16
    • Conyers
  • Alcovy CASA Pajama Project
    • 25 Jul 16
    • Covington
  • StartSmart Program with The University of Georgia SBDC
    • 9 Aug 16
    • Atlanta
  • UGA SBDC Credit School
    • 12 Aug 16
    • Kennesaw
  • Toddler Story Time (Ages 21- 36 Months)
    • 16 Aug 16
    • Conyers
  • Baby Time (Ages 0-20 Months)
    • 17 Aug 16
    • Conyers
  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us
Copyright © 2016 Alcovy Enterprises, LLC dba eMetro Times. All Rights Reserved.
Web Development & Marketing Managed by Alcovy Media.
Login

Connect with:
Facebook Twitter

Register | Lost your password?

Register

Connect with:
Facebook Twitter

A password will be e-mailed to you.

Log in | Lost your password?

Reset Password

Log in| Register