Thinking of splurging for a new vehicle purchase
Greetings all. Looking for some input on a potential new vehicle purchase. For background:
41yo M, Income: 150k annual. No side gigs.
Debts: Zero. Paid off house (350k value), car (2013 - 5k value), and no student loans.
Investments: 50k HYSA emergency fund (including ~20k for planned vehicle purchase), Maxed 401k split between traditional and Roth (~$350k balance). Maxed annual Roth IRA and money market account (~280k balance). Not HSA eligible due to health insurance plan. I’m also a SCE federal employee that will be entitled to a 34% pension when I’m eligible to retire in 12 years.
My true monthly expenses average around 1.5k per month (not having a mortgage is fantastic) after all is said and done and I’m currently investing about 45% of my income. With that said, I’d really like to purchase a newer (2024-2026) used truck for around 40-45k. Ideally something higher than base model with higher mileage as I don’t drive my personal vehicles a ton due to having a take home vehicle for work.
Thoughts? Is this going to put me a rough spot when it comes to trying to retire at 52? While I know I could buy the vehicle tomorrow and still likely be fine, how much of a dent would I really feel? Thanks in advance.