My post describing my experience with the dual-motor long-range Tesla Model 3 I bought back in April 2019 generated further questions about battery life, recalls, and driving range in winter that I answer here. Battery life Recently, I was in a waiting room and couldn’t help overhearing a conversation about electric vehicles.  The two people agreed they wouldn’t consider owning one, and the dominant stated reason was fear of high-cost battery replacements.  It became clear after a while that they mistakenly believed EV batteries would have to be replaced as often as lead-acid batteries in gas cars.  The truth is that Tesla batteries are expected to last longer than the rest of the car. A few days ago, I was startled to receive a notification on my phone that my car’s battery needed to be replaced.  A few seconds of poking around on the Tesla app eased my worries.  I didn’t realize that my car has a lead-acid battery as well as its large high-tech battery. ...

Actuary Frederick Vettese has a third edition of his excellent book, Retirement Income for Life: Getting More Without Saving More .  He explains methods of making your retirement savings produce more income over your entire retirement.  These methods include controlling investment fees, optimizing the timing of starting CPP and OAS pensions, annuities, Vettese’s free Personal Enhanced Retirement Calculator (PERC), and using reverse mortgages as a backstop if savings run out. This third edition adds new material about how to deal with higher inflation, CPP expansion, new investment products as potential replacements for annuities, and improvements to Vettese’s retirement calculator PERC.  Rather than repeat material from my review of the second edition , I will focus on specific areas that drew my attention. Inflation “We can no longer take low inflation for granted.”  “An annuity does nothing to lessen inflation risk, which should be a greater worry than it was befor...

Back in April 2019, I bought a dual-motor long-range Tesla Model 3.  I had some concerns about buying an electric car, but my research showed that none of these concerns were likely to be real problems.  Still, buying the car felt like a leap of faith.  Now that I’ve had it for 5 years and 4 months, I can say that it’s been the best car I’ve owned, even better than my Lexus GS400 . Some concerns I had before I bought the car were its price, the charging network when traveling, home charging, battery reliability, self-driving features, and ongoing costs.  Something I didn’t know about in advance that turned out to be a pleasant surprise is the one-pedal driving.  A negative about owning this car is that somehow EVs have become political. Price Compared to other luxury cars, Teslas are reasonably priced.  However, there is no lower end Tesla model suitable for the bulk of car owners.  Teslas are still too expensive for most people.  The lower annual...