Mine came in and I took delivery last night. Barely driven it but did get the bluetooth working for cell phone. (Works fine) The backup camera is a good touch, I've a few small kids in the area that zoom into the drive on bikes or skateboards and hard to see. First impressions are that besides being much bigger than my 02, its a nice vehicle. Rides well and nearly as much zip as the Avalon. I got the wife to write the check (said I didn't have my glasses) - this way she can't gripe about spending 40k for a toy!!
Don't ever underestimate the ability of a spouse to gripe about money.
Wait until the fuel bill comes due. You're going to looking into gasoline futures to save money, especially in the go. They don't call it the golden state for nothing. Unfortunately, it has to do with the gold you spend at the gas pump to fuel the vehicle.
In the early 60's I was making about 3.25/hour - so, I could get roughly 10 gallons(0.32) of gasoline (gross wages) - I am retired so don't have a grasp on my hourly rate. However, my wife in an RN and still working, her gross hourly wage will buy about 14 galllons(3.09) of gasoline. I realize this ain't apples to apples but I wanted a new Highlander, saw it, she also liked it, and bought it. I'll probably average about 10kmiles/year versus the 14.5k/year on my 02 Highlander. Since I am 69 and most of the family on both sides make it in pretty good health to mid-late 80's, why shouldn't I enjoy a new toy? By the way, I'll bet there isn't much difference in MPG based on my initial few miles of driving of this one. I am looking forward to buying one more when they change the body in 2015.
She married me when I was younger 34 years ago! But whe was even younger! (35 and 24 then) She has just about 3 years until 62 and retirement. And still the hospital will chop off about 40% for the 3 years "early".
Think about this: if she works just three more years, that's 3 fewer years that you have to dig into retirement funds. Plus, when she retires, she gets 2/3 more money (if you loses 40%, and she gets $10,000 for full retirement, she ends up with $6000. If she waits 3 years, she get $10,000 or 2/3 more than if she doesn't wait 3 years, plus the amount of the full retirement will go up by the rate of inflation, more or less). Plus, that 3 years that you won't be drawing on retirement funds. And, if she waits 3 years, her Soc. Sec. will be higher, too.
Waiting 3 years for her to retire may very well double the amount of money you have to retire on, when you add in Soc. Sec., pension and the money that would be in the retirement accounts. Plus, depending on many factors, she may be better off waiting until she turns 72 to start getting Soc. Sec. (she will collect a lot more if she waits 10 years, but she won't be getting any benefits for 10 years - so you really need someone to do the math to figure out what is best).
Don't take my word for it. Get an opinion from a fee-only financial planner. Plus there are many financial factors that you know that go into this, but I don't know the details, because they're personal.
Thanks Jeff, your math is fairly close but she is ready to retire - tired of nursing politics. If the bosses change, so may her mind - she likes the nursing but is into the political end (adminstration) and is sick of the crap...
I doubt we'll need to take principal out - insurance is good and both house and cars paid for (trying to sell one house I inherited though market went to shit about 6 months ago )
Thru quirks in the rules, I am drawing disability from uncle sugar and started social security at 62 - I think I figured it then I'd need about 11 years after I was 65 vs taking it at 62 to catch up..I hadn't worked any soc sec job since 1971 when I had my 40th quarter. (whew) So, darned near certain she'll go out in 2011.
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