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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You skipped the most important figure... how much do you have saved for retirement?

What rate is the heloc?

The 'technically smart' answer here is to use the heloc if the interest rate is lower than that which you have historically seen in your portfolio.

Assuming you have a good amount saved for retirement (based on everything else it sounds like you do), I'd go ahead and take the $20K to redo the things you want to redo (enjoy life a little), I'd then likely consider paying off the cars, and I'd put the balance into retirement savings. [/quote]

Retirement savings - about $1.4M.  DH will get a pension.

Don't recall the HELOC rate, will look and report back.

Thanks for your advice re: the home improvements and cars.  We are considering setting aside some of the inheritance to pay for a trip to Europe before DS1 graduates from high school.  You are probably right about the rest going into retirement savings.  Would you not add to the college funds?[/quote]

You're doing fine on the savings side - good for you.   I agree with the above poster - the expenses are not frivolous -they are smart.

At $1.4 million - you're going to make about $50K this year alone.

Spend your emergency fund since it is just cash.  You're being smart.  Can't save every penny - but you're doing a great job.[/quote]

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