Reply to DH wants to quit job to join startup

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]5mm liquid, 1mm of equity in the house? Let him start his company[/quote]

They don't have 5m liquid--it's 5 m net worth which includes college funds for 3 kids and retirement accounts.  [/quote]

Plus a million equity in their house. They’re rich.[/quote]

No---they should have $3M in retirement.  And $1-1.3M will be needed for college.  They also need extra for the therapies for their oldest---insurance typically does not cover all that is needed, and even if it does you have deductibles and copays.  They do not have "spending money" to just live without much of an income.  Especially since they are likely used to living on $400-500K.  Health insurance alone will cost them $30K/year for an adequate plan.

House means nothing unless they are prepared to sell it and downsize, but not likely with 3 kids still living at home---not sure "let's live in a 2 bedroom or 3 bedroom house" will go over with teens who are used to having their own rooms, not to mention one with behavioral issues already. [/quote]

What are you talking about? She says they have [b]over 4 million dollars invested in the stock market[/b] (this is what I assume “liquid” means). So they do have 3 million for retirement - in fact, they have a million more than the figure you mention. Plus the million in their house. Plus the money for college.

I don’t know where you’re getting the idea that “therapies” are needed for mild special needs. Could be something as basic and common as adhd.[/quote]

She stated it requires two parents to manage.  That is more than typical ADHD.  However, even for ADHD, I'm a huge proponent of therapies to help kids manage it----I would never just medicate without therapy as well.  And many kids with ADHD could benefit from therapy and/or tutoring/exec functioning coaching.  The more help you get your kids at a younger age, the better off they will be with dealing with these issues (I know because I have lived it).

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