Financial blueprint

The Greenlees hammer out plans for education and retirement

social security and pension benefits, a mix of money market and mutual funds will help round out their income stream after they stop working.

Use money market funds. The Greenlees increased the $600 a month that they were depositing in a traditional savings account to $975 and redirected that to a Zurich Money Market fund (KMMXX) with a 6.23% yield.This will be the chief source of funds for completing their home improvements.

Invest for growth Tucker advises the Greenlees to invest in growth mutual funds-separate from those they own as part of their employee retirement or life insurance programs. They agreed to invest $520 monthly between the Alliance Premiere Growth fund (APGAX) and the MFS Research fund (MFRBX)-$400 for retirement and $120 for Jalen’s tuition.

Go variable. Unlike a term life insurance policy, a variable life policy is permanent, provides better coverage, and builds cash value in separate, mutual fund-like accounts. Jesse canceled his $100,000 term policy from American Family and purchased a $275,000 Equitable Incentive Life Insurance plan. Having done so, he avoids the pitfalls of having to get a new policy when his old one expires in 10 years at an age where he’d appear a bit riskier to insurance companies.

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