Mailbag: How Much Money In The Emergency Fund? And More!
PlanningListen:
On This Episode
We’re back with another mailbag episode this week! We have an exciting lineup of topics to discuss today. Colleen asks how much money she should have in her emergency fund. Bonnie asks Mark to explain the basics of estate planning to ensure that her assets are passed on with minimal tax implications.
Listen in as we tackle these questions more in today’s episode. From emergency funds to estate planning and mortgage decisions, Mark provides expert insights into managing your money wisely. You don’t want to miss this one!
Here are the questions Mark answers in today’s show:
- How much money should I have in my emergency fund and how does this differ from other savings?
- I want to ensure my assets are passed on to my children with minimal tax implications. Can you explain the basics of estate planning that I should make sure I have covered?
- I owe about $50,000 In my house, and about $45,000 on a rental property that I've had for several years. I have enough cash to pay off one of these but not both. Which one should I pay off?
Thanks for joining us! We’ll be back for another show every other Thursday.
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