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How Much Is Your Children's Happiness Worth?

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  • How Much Is Your Children's Happiness Worth?

    My wife's co-worker is in a dilemma.

    Her and her husband's post tax take home ~80k/year
    ~110k on a mortgage, house is now worth 240k
    2 car payments, no idea how much. One is a new fully loaded Odyssey, the other is a truck.

    Don't have much in savings..probably a few thousand. Husband lost his job due to boss being a racist..and couldn't find work till last year..now makes 2x more.

    Does have a retirement account of unknown amount.

    They have 3 kids, 14yo/12yo/7yo.

    So the coworker is a workaholic because she's the manager of the office. She never takes the kids anywhere due to a lack of time and she tries to save money.

    They are really thinking about building a pool using home equity. They want to keep the budget low, like around 15k (which I think it's unrealistic..she may need 20-25k since she wants a screen in pool). She wants to compensate all these years and more years to come of not taking their kids anywhere with this pool. Even though I'm not a fan of borrowing for something like a pool..I don't have the heart to not recommend this....

  • #2
    at those ages, the kids will probably be working soon themselves and probably won't have time to enjoy the pool... at most they'll get 4-6 good years out of it.

    are the kids miserable?

    have they requested a pool?

    can one of the parents reduce their hours? I thought your wife owned the business(?)

    do the parents work weekends too?

    You can't buy happiness; esp when it comes to children. it will last for "5 minutes"

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    • #3
      Originally posted by Jluke View Post
      at those ages, the kids will probably be working soon themselves and probably won't have time to enjoy the pool... at most they'll get 4-6 good years out of it.

      are the kids miserable?

      have they requested a pool?

      can one of the parents reduce their hours? I thought your wife owned the business(?)

      do the parents work weekends too?

      You can't buy happiness; esp when it comes to children. it will last for "5 minutes"
      The co-worker manages the optical, my wife leases the office in the optical. Separate by law but not by corporate ties.

      I think don't the kids requested a pool. They just go over to her cousin's house and see her kid have so much fun in their pool.

      And yes parents work weekends too.

      Problem with having 3 kids is that doing anything is expensive. Probably 200 gone if you just want to take them out for a dinner plus a movie.

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      • #4
        Originally posted by Singuy View Post
        They are really thinking about building a pool using home equity.
        There's nothing wrong with building a $15K pool for the benefit of their family enjoyments as long they can save and pay cash for it.
        Got debt?
        www.mo-moneyman.com

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        • #5
          Originally posted by tripods68 View Post
          There's nothing wrong with building a $15K pool for the benefit of their family enjoyments as long they can save and pay cash for it.
          Just got news from our pool builder that 15k is impossible. With a screen, he's looking at 35k to be more realistic. For this family with 3 kids to save up 35k will probably take years...by then the kids will be off to college.

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          • #6
            probably better off buying each kid a used car when they turn 16.

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            • #7
              Originally posted by Singuy View Post
              She wants to compensate all these years and more years to come of not taking their kids anywhere with this pool.
              Throwing money at that problem rarely works...

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              • #8
                I think there's a difference between "buying" love and "showing care". I believe none of the kids are miserable, and all are pretty grateful for what they have. I rarely hear them complaining about anything. The parents feel like they are not giving their children enough joy due their current work schedule.

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                • #9
                  I suggest hiring a college student to take them places in the summer. Swimming can be one of those, as well as museums, and parks...some of the things they don't have time for but could have someone to make happen for them.
                  My other blog is Your Organized Friend.

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                  • #10
                    They don't need a pool. Without knowing these people, I would say that all those kids need (or truly want) is more of their parents' undivided attention. They should try to reduce their hours, even by just a few hours a week, and dedicate that time to just being with their kids. Buy a few board games, find out what they like to do, and hang out with them. It really is that simple.

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                    • #11
                      A pool is great for kids that age and they would use the heck out of it. We had one when our kids were younger.

                      But ...... A pool is a "toy or "luxury" mush like a boat or camper. Toys and luxury's should not be borrowed for. If you can't pay cash, you can't afford it. An above ground pool could be had for under $5,000 if that could be a considerations.

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                      • #12
                        CCF's suggestion to hire a college student PT to take them to low/moderate cost community events of interest is brilliant.

                        I don't think this lady has realistically evaluated the ownership of a pool! The initial construction is merely the tip of an iceberg if she plans an inground pool. The cost is never ending in daily care, maintenance, responsibility and Murphy's Law. If she thinks she's busy now, add an hour daily to testing water, adding chemicals, cleaning, cleaning the cleaning mechanism, adjusting temperature, adjusting water level, back flushing, shopping for/transporting/storing difficult to manage chemicals yadda yadda I can go on...

                        Alternately, hire a pool maintenance service and watch your expenses go through the roof! I found the worst part of having a backyard pool was the level of responsibility for the lives and care of everyone and all animals that got themselves into our locked, pool area. If someone was injured, in spite of not having permission to be there, it would be my fault. You may think you have secure site but you are wrong. Determined enough, they find a way...it's a nightmare.

                        The incidentals like vanishing towels at one end of the spectrum and piles of other peoples towels and swim equipment at the other for me to wash and inventory was ridiculous.

                        Finally, if they ever plan to sell the house, only a reduced percentage of buyers would consider a house with a pool! too much work!
                        Last edited by snafu; 06-17-2016, 08:33 AM.

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                        • #13
                          If it is all about Happiness then it worth more than anything.

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                          • #14
                            Originally posted by johnjacobs View Post
                            If it is all about Happiness then it worth more than anything.
                            Despite what the 1970s would have you believe, happiness -- that stunningly transient emotion -- is not the be all and end all purpose of parents.

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