Live w/Jim & Anna Episode #14
Questions discussed in this Episode:
1. I’m saving for a house down payment and a new car. Where do I put this money?
2. My insurance agent thinks I should invest in an annuity that starts in my mid-80’s in case I live too long. What do you think?
1. Our plan to purchase a new larger home in 4-5 years. We have been thinking about that and based on current housing prices we think it would be much more cost effective to just add on to our current house.:
If the addition is estimated around $50k-$60k where should we plan to get that cash from?
-Home equity line of credit
– investment accounts
– cash in emergency fund
Second: If we are thinking of doing this next Spring we have some time to change where we put our monthly surplus cash. Right now that’s averaging around $2,000/mo.
2. I recently inherited small sum of money and wanted to put it in a separate place along with our emergency fund. Any recommendations for money market funds? All the interest-rates look pretty low and few have check writing ability. Any recommendations?