Last week I had to have my winter tires changed back to summer tires, and an oil change. At the same time, since I know it’s cheaper to maintain an automobile than to replace it, I asked to have the car inspected to uncover any pressing issues.
Of course, at the end of the day I forked over my credit card to pay a $1,200 bill.
To me, that’s an entire investment in a stock. With a 5% dividend, you’d earn $60 a year with that money, or $5 a month.
I’m sure there’s something you spend $5 a month on; well, that cost could have disappeared from your life.
This obviously got me thinking, “Can I really retire earlier by getting rid of my car? How much earlier can I retire?”