The tax advantage that you get is so significant that even a higher fee, you're still net positive. The decision as to whether to put money into a four o one k versus a taxable brokerage account in part depends on what that money is going to be used for. Once you have the strategy and you know the time frame on ou're going to spend the money, what you're spending it for, then choosing the the strategy will be much easier.
#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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