VANCOUVER, British Columbia — One might wonder how a couple with a household income of $360,000 a year (and soon to go up) could struggle to make ends meet, but a report out of Canada says for one Vancouver couple, that struggle is reality.
According to the Globe and Mail in Toronto, the married couple, named Eric and Ilsa, are “in a bit of a bind” after they chose “lifestyle ahead of financial concerns.”
They currently earn $25,000 a month. Eric, 41, reportedly earns $200,000 a year as a physician in a medical clinic. He also works one day a week at a university, for which he makes $100,000 annually.
Ilsa, 39, is currently on maternity leave, but when she returns to her job as a dentist, she will bring in another $150,000 annually.
The couple currently have five children, the Globe and Mail reports. The children range in age from less than a year to 9 , “all of whom will go to private school.”
According to the Globe and Mail, Eric and Ilsa are living rent-free in a relative’s home, have a live-in nanny, and own a $1.1 million residential lot.
Eric and Ilsa, who are reportedly $6,000 in debt each month, say home prices in their community have doubled, and they want to build a $1 million house to fit their whole family, plus their live-in nanny.
The Globe and Mail featured Eric and Ilsa’s story after the couple wrote in to the publication. They were featured in an advice column called “Financial Facelift,” in which experts weigh in on budgeting and financial advice.
Warren MacKenzie, a principal at HighView Financial Group in Toronto, was the expert in this case.
His advice? For one, he suggested Eric work one extra day a week at the clinic. This would essentially solve all the family’s problems.