Anonymous has been listening to your podcast for about two or three years now. She and her husband are first generation Americans, with no other debt. They have ten months of emergency fund saved a they are currently contributing about 12 thousand a year towards their brokerage. We're spending about seven hundre dollars a month between term and whole life insurance. Most of what i'm seeing says term is good enough and building wealth is more about investment. Any guidance you can provide would be so appreciated.
#350: Anonymous and her husband have set themselves on the path of saving for retirement. But an old mistake haunts them: a financial planner convinced them to buy a mix of whole and term life insurance, which costs them $700 per month. Do they need whole life insurance, and where else can they save their money?
Mike has $60,000 in cash earning one percent interest. He has plans to buy a home and get married in three to five years. Where else can he put his cash to earn a little more? Is the stock market too risky for such a short time horizon?
Anonymous and her future husband are wondering: what’s a realistic amount to spend on a wedding?
My friend and former financial planner Joe Saul-Sehy joins me to answer these questions on today’s episode. Enjoy!
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