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Choosing New Wheels Over Retirement Savings

One of the reasons that many of us have failed to save adequately for retirement is that we love to purchase new cars. It is of course tempting to immerse oneself in that new car smell, as well as to find oneself benefiting from new technology like heated steering wheels, Bluetooth, and automatic braking. The average car payment in the U.S. is estimated at $523 per month.  

Anirban tells us more.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.