Power steering and coolant light come on

NICHOLAS32

My pwr str and coolant light both illuminated at the same time - when tested power steering was lost cycled ignition both light disappeared and power steering returned to normal -- popped hood open and coolant levels were normal and did not see or smell any trace of coolant, does anyone know what this might mean - i do not want to take to a dealer for the issues and spend any money i already had my power steering motor replaced a few years ago when it failed before and i plan to get rid of the car soon. I really just need to know if this is a known thing and may cause a vehicle break down without any additional warning. Any information would be very helpful. Thank you.