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Ask Dave

Surgery Funding

Dave doesn't like the strategy that Cathy has for paying for her elective surgery.

QUESTION: Cathy has been working Dave’s plan and she’s about to have elective surgery. They have the cash to pay for it, but that cash has been in stocks, including her company stock which is way down. The surgery will cost $6,000. There are only 2 ways to attack this, says Dave.

ANSWER: Another option is to not have the surgery. You shouldn’t have been playing with single stocks. You’ve lost your tail end. If you were saving to pay cash for something, you should have just stuck to a money market and then you wouldn’t have taken a hit. I’m either going to cash out stock to pay for the surgery, or I’m not having the surgery. I absolutely would not borrow money for plastic or elective surgery; there’s not a chance of that.

If I woke up in your shoes, I’d cash out the stock and pay for the surgery, or don’t do the surgery. Those are my only 2 options. If you borrowed money for elective surgery, I’d straight up call you stupid.