Green Retirement Blog

Learn to live a car-free care-free life!
Cars hurt more than the environment - they also cause damage to your retirement. Everyone by now, already knows that cars produce a tremendous amount of CO2, which causes global warming. What most people don’t realize, though, is the damage a car can do to your retirement.

Cars are expensive to maintain, payments, insurance, gas, repairs, can all add up to a hefty monthly expense. Money that could be going into your retirement savings, or if you are already retired, taking a big bite out of your retirement savings. Let’s examine the impact of a car on retirement, by using a total monthly car expense of $600, and see how it effects your retirement.

If you are planning your retirement, over 20 years at 10%, saving that $600 monthly expense would add up to $455,000 in additional retirement savings. If you are about to retire, getting rid of that $600 monthly car expense, would reduce your required retirement savings by $180,000. Think of how long will it take you to save an additional $180,000? And if you are already retired, ditching the car, instantly increases your retirement income by $600.

If you want to get rid of your car, and the expenses that go with it, there is a very easy way to accomplish that - retire. Retirement gives you the freedom to live where you want. With a little bit of planning, you can find a location, that allows you to live a car-free life.

If you aren’t retired yet, look into public transportation alternatives, car pooling, living closer to work. If you work in a city, look into living in the city, it may not be more expensive. And you will never be stuck in traffic when you walk to work. Find housing within a half-hour walking radius of your work, and you get the added benefit, of a daily work-out!

Even the most fuel efficient cars, cause damage to the environment, and the expense causes damage to your retirement. If you can live a car-free life, you can save a tremendous amount of money, enabling you to enjoy a care-free life.

Learn more about Green Retirement Planning - And find out how you can save your retirement and the planet!