Live w/Jim & Anna Episode #14

Live w/Jim & Anna Episode #14


Questions discussed in this Episode:

Jim:

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?

Anna:

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?

Anna Sergunina
Anna Sergunina
anna@mainstreetplanning.com

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

Get Started with Get started with Anna’s team

Stay updated on future articles, shows, and podcasts