TrophyWife
Recycles dryer sheets
- Joined
- Feb 23, 2016
- Messages
- 158
My husband is still working as we pile up more of a cash buffer. Would it be good to have a HELOC in place as a back-up? Does this need to be done before he stops working?
"Need" is a strong word. But, we thought it was a good idea. In the 9 months before anticipated retirement (when we still have the dual professional incomes), we have refi'd house to long, low rate (rather than pay it off as many would prefer), and set up a 200K HELOC. Both moves were for increasing cash/liquid buffer. Shouldn't need that buffer, but better safe than sorry.