Posted by: Jennifer Chang
By Yuval Rosenberg, Money Magazine contributing write
September 18, 2009: 5:02 AM ET
September 18, 2009: 5:02 AM ET
(Money Magazine) -- After seven years of marriage, Stephanie and Chad Grant are about ready to start a family. Before they do, the 31-year-olds want to baby-proof their finances.
That means dialing down risk in their company-stock-laden portfolio and in general "balancing our investments to meet short- and long-term goals," says Stephanie. The couple also need a savings plan.
It's not as if the Grants don't sock away money now. Stephanie, in public relations, and Chad, a biomedical engineer, have more than $200,000 invested in a mix of retirement and taxable accounts.
But they have just $8,500 set aside in cash for emergencies. The Grants don't spend lavishly on day-to-day items, but they do devote $20,000 or so a year to travel. They know that will have to change once they have kids... Click Here to read more
That means dialing down risk in their company-stock-laden portfolio and in general "balancing our investments to meet short- and long-term goals," says Stephanie. The couple also need a savings plan.
It's not as if the Grants don't sock away money now. Stephanie, in public relations, and Chad, a biomedical engineer, have more than $200,000 invested in a mix of retirement and taxable accounts.
But they have just $8,500 set aside in cash for emergencies. The Grants don't spend lavishly on day-to-day items, but they do devote $20,000 or so a year to travel. They know that will have to change once they have kids... Click Here to read more
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