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....
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....
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