Ep. 53: Jenny is dealing with debt, a variable income, and a new marriage

Meet Jenny

Age: 35

Jenny’s main concerns, in her own words:

My husband’s salary around 170k/year. Plus a potential bonus of about $30k/year.
I work part time serving so my income fluctuates.

We’re newly married, no firm budget

My husband’s account: $55,000 in savings with a checking of around $20,000 (which I know is higher than Peter recommends, but my husband travels internationally and is often booking trips upwards of $12,000 at a time).

My account hovers between $500-$1,000.

I have about $16,000 in school loans and $11,000 in a consolidated debt loan. Current loan payments total $457/month. My income goes directly toward that and his income covers the rest of our expenses.

Our only other debt is the house. Purchased December of 2014 for $289k with $60k down payment and a 15 year mortgage.

I have about $25k sitting in an IRA-rolled over from previous 401K. It’s stagnant and I would like to be aggressive with it.

He has about $400,000 in retirement savings.

I’m about to start IVF and wonder how many cycles we can afford.

What we cover in this episode:

  • fertility treatment cost impact
  • cleaning up old debt when in a new relationship

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