PJ and I met with a financial planner from Merrill Lynch the other day. Here’s what we learned.
1. We need to get our wills done.
2. We’re underinsured (life insurance).
3. All adults (age 21 and up) should be saving 12% of their income for retirement.
4. You should not have your money in a savings account that earns less than a 4% yield. Plug for ING Direct here. If you don't already have an account with ING Direct and you want one, talk to us...there's a little mutually beneficial referral bonus involved. :) **you don't want one. Talk to us about Emigrant Direct!
5. If you haven’t already heard it, you should have six months of your salary set aside in cash assets in the event something serious happens (obviously, whoever came up with this didn't have kids. HAHAHAHAHHAAH).
6. We’re at a very good debt to income ratio. :)
7. We might be able to retire when PJ turns 65, but I have to keep working until that time. So much for an early retirement. LOL
We discussed various other things, of course, but this was some of the important stuff.
In other news, I am NOT pleased with the election results for our area... *sigh*
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