I had an S60... 2002 IIRC. It was a sweet car. The steering was too heavy for my wrists and I got rid of it. I didn't have it long.
Pro's:
solid frame. no creaks. seats were *amazing*. sound system was great. headlights were crisp. dash was beautiful. engine was solid. handled better than anything else I'd owned.
Con's:
i bought it well used. drove several. all had 1-2 flare in upshift. rear window vis was awful, but you get used to it. AT programming was weird. got better mpg in D4 than D5. electronics were wonky. the common dealership answer was, bring it in for a computer reset so the windows will function again.
in 1997, the chevy lumina and subaru legacy/outback followed the volvo in crash test scores. if safety is a big concern, I'd consider either of those as well.
I have seen RWD volvos go forever if maintained well. Even the 4 cyl turbos can last if the owner knew to service the turbo. buy an older RWD turbo wagon, adopt the interior and paint as a project, could be a sweet ride!