From Kiplinger · · 1m 20s
Retirement Pool Debate
Retirees debate $80,000 pool for grandkids: math works but mental costs may outweigh benefits.
In brief
Retirees debate $80,000 pool for grandkids: math works but mental costs may outweigh benefits. Retirees with $1.1 million savings can afford a $80,000 pool without harming retirement plans but must weigh emotional and practical costs. Originally reported by Kiplinger.
Retirement Pool Debate
Retirees with $1.1 million savings debate spending $80,000 on a pool for grandkids.
Math Works for Pool
Financial planner Derilyn Freeman says $80,000 pool won't harm retirement if $1,500 monthly maintenance is covered.
Pool Maintenance Costs
Pool rental marketplace Swimply reports $3,000 to $6,000 annual cost for pool ownership.
Mental Costs Matter
Retirees feel guilty spending savings on enjoyment, which may explain husband's pushback.
Alternative Uses for Money
Pool money could fund family vacations, national park lodges, or an RV for grandkids.
Resale Value Concerns
Pool may lower home value in some areas, according to financial consultant Steve Azoury.
Climate and Pool Use
Pool only useful for three months in some regions, making it less practical for grandkids.
Family Priorities Matter
Retirees should prioritize what matters most for family fun and bonding with grandkids.
Final Decision
Pool purchase depends on whether it aligns with family's values and practical needs.
The main idea
Retirees with $1.1 million savings can afford a $80,000 pool without harming retirement plans but must weigh emotional and practical costs.
