Friday

Money Makeover - Saving for retirement

Go check out the new Money Makover!

Profiled are Michele and Miguel Suarez from Florida - WOOT!

The article does not go into much detail regardin how much they have saved overall, but it talks about all of their investments, including real estate, what to do with each. Interestingly, the planner suggests that they:

  • Put away LESS for retirement: This will allow them to fund prepaid tuition plans for their kids.

  • Save more in their emergency fund: They only have $3500 in a low-yield savings account, so they need to move it to a higher-yield online savings account at 5% interest.

  • Invest as one: the Suarezes need to think of their separate accounts as a single portfolio.

  • Protect the family: Put together a will and other estate-planning document and beef up their life insurance.


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