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Mike is in Cape Girardeau, Missouri hey Mike welcome -- the Dave Ramsey show what's up tonight.
Well I'll -- got a question for you the question of course -- -- My daughter's four years old formal child that we -- -- -- both.
Actually only about 30000.
And Leo Laporte you know our house shall we get out get out now or I'll go into the adoption then -- -- -- household income.
-- -- -- -- When -- -- making good money.
To start with what you -- more research on adoption we have this question posed a lot and so I've dug into it pretty deep and thirties on the high side.
-- Anywhere from fifteen.
You know seventeen out here all the time.
You know and it depends on the agency and help put out a sail well -- -- process I understand I've seen all the pitches.
But the truth is birdies on the high side even -- international adoption.
That's polluted and our daughters adopted them out here right situation -- on the adoption papers here that we were gonna do this thing you know how does that we know that.
You know well what did one -- we look at as a -- 800 dollars.
Like a down payment than it got another tornado Larson attorney fees and but it makes -- for the lesser stuff for the birth mother happened and that keeps happening we're actually get he would sign the papers just.
-- four months later and have that financial responsibility and not want to get the dead tired military analyst financial responsibility.
That wasn't what I was question has questioned the price you were quoted.
Sure thirty's -- -- I think -- now after having said that he had an emergency fund you have the money -- you have 20000 bucks.
We have -- look at how could go that yeah I would go into an adoption.
Now -- -- now would not go down the no -- But I would go historically adoption process how much do you have total in liquid assets.
Well -- very illiquid.
And that we have -- that you -- a little course there are -- -- -- -- -- -- Well.
You don't want me to no money.
And so you gotta get a better price to go forward because I wouldn't tell you take this out emergency fund but I would put adoption before paying off the house and the good news is two years from now the house -- paid for anyway.
How well they'll look at it is that -- with what we have -- -- push oil -- -- on the house but.
In June Carter five year -- changes to whatever the current is you know and I didn't -- -- course you know they don't.
Now give you your payments based on what you still a lecture original outlook.
And so would interest shall go up you know I don't know what do you think -- -- now work side.
Actually catalog actually about the north what do you originally -- -- in 2000.
And kind of -- changes 16100 dollars a year.
And so it changes about a 150 bucks a month.
And that's gonna keep you from living.
Well I I didn't know how much -- would -- not.
Well one -- -- on 460016100.
Well sure there have been cut and that's you know it's less -- a 150 dollars a month -- I don't think that's gonna panic you.
You know it I'm OK with you doing it either way most people that are hat I have an urgency to adopt have emergency.
And everyone out they want -- go ahead and get moving forward on it.
The good news is again two years from now on -- three years from now on both of these things are financial history and you've got your emergency fund in place.
So of of the fact I'm gonna challenge the amount that your being quoted.
I don't really care which order you do it and I'm okay would be doing adoption first of all you don't completely drain yourself down -- no money.
I don't -- to -- and no money I don't clean up the emergency fund for adoption adoption.
Should be above the emergency fund which means today you have 20000 dollars to do an emergent into an option with -- You don't have you don't want to go below ten K in your situation.
And so he can't pull it off for twenty you're not ready to do it yet and you certainly don't you know you -- -- the house if you wanted to.
But then you've got 6000 bucks left over and you've got to rebuild that -- warning before you do the adoption.
Or you got cash flow through the adoption one of the to.
Either way is okay -- -- me -- I don't think you want to dumb plan.
You but you to get down below ten K would be.
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