We wrecked our car
Saturday night we were returning from visiting a relative when we had a bad car accident. Nobody got hurt, but the two cars look pretty bad. The "Total Loss Unit" called yersterday and our car is totalled. They'll be sending a check in about a week. Now what to do? We don't want a used car. We'd like to get a new replacement. But we'll need about ten thousand extra. Should we get a home equity loan? Go thru the dealer? Or take some cash out of my IRA? I'll lost ten percent on that IRA. I'm only 54 and can't take money out without penalty until I'm 59 and a half. Which way would be best?