text: "She could borrow against the equity in her condo to finance the car purchase and home renovations."
  
  No: just avoid new car purchase altogether - buy something ~2 years old and gently used for a MUCH more efficient use of money. Research the model using Phil Edmonston's Used Car Guide to make sure she buys a reliable car.
  
  Then, learn how to do the home reno herself (at least as much of it as possible-hire out the electrical and plumbing, for instance).  She's apparently used to using her body, so is probably in decent shape enough to do some work on a bath remodel.
  
  Besides the significant investment problems of letting someone else take care of her money:
  the significant expectation to over-consume. Innovation beats consumption every time.