How to Put Extra Cash Flow to Work

With an increase in cash flow on the horizon, how should we be putting it to work when the time comes? Have a money question? Email us ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.jillonmoney.com/contact Subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jill on Money Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.jillonmoney.com/newsletter/substack YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@jillonmoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.youtube.com/c/JillSchlesinger Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@jillonmoney⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://www.instagram.com/jillonmoney "Jill on Money" theme music is by Joel Goodman, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.joelgoodman.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ http://www.joelgoodman.com/.

• 0:00Speaker 00

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• 3:31Speaker 00

  Built cards are issued by Column NA, Member FDIC, pursuant to license from Mastercard International, Incorporated. Welcome to the Jill on Money Show. It's Thursday, November 12, and we are still here. I mean, I know I'm not really here because I'm on vacation, but I'm here spiritually, and I am here to actually provide content to you every single day, even when I'm out of the country. So if you've got a financial question, if you've got a big decision, it could be about housing, it could be about retirement, it could be about estate planning or life insurance, anything that's going on, something that's either bothering you or causing you some sort of emotional reaction, get in touch with us.

• 4:13Speaker 00

  Go to jillonthemoney.com, click the Contact Us button, and write us a note. Now, while you're on the website, you know all of our content lives there. We've got resources, we've got my books, we've got videos, we also have the free weekly newsletter. So if you haven't done so, definitely you need to subscribe to that. Right now, let's talk to Kelly from Wisconsin.

• 4:32Speaker 01

  My husband and I are both in our early 50s, and we have good jobs, we have plenty of money for lots of extras. In about three years, we will finish all of our major home updates, so have a lot of extra money, a lot to us, to save or invest. And so my main question is, what should we do with that extra money?

• 4:53Speaker 00

  I love that kind of question. It's like, wow, all this good news. So let's talk a little bit about sort of what's going on now. Are you both working?

• 5:02Speaker 01

  Yes.

• 5:03Speaker 00

  Okay. How much do you earn? You can either do it together or separately, whatever you'd like.

• 5:07Speaker 01

  Okay. Combined income is $165,000 base with bonus of about $35,000, and that's pretty consistent.

• 5:16Speaker 00

  Okay. So, great. So $200,000, that's a good number. Are you both making contributions to retirement accounts?

• 5:23Speaker 01

  We are. So 18% of my income goes into a Roth 401K. I just got the Roth option about two years ago with a new employer, and my employer match is 3%. And then my husband puts 6.5% of his income into a state pension plan, and the employer match is 6.5%.

• 5:44Speaker 00

  Oh, my God. Six and a half? Wait a second. So he is a state worker, and he'll be entitled to a pension? That's great.

• 5:52Speaker 01

  Right.

• 5:53Speaker 00

  And so let me ask you a question. Tell us a little bit of the details of that state pension.

• 5:58Speaker 01

  So it's the Wisconsin Retirement Plan is the best-funded, most reliable pension in the US. So we're very comfortable with that.

• 6:07Speaker 00

  Air Forward is my favorite, is my favorite one. Fantastic.

• 6:10Speaker 01

  So really comfortable with that. He's planning to retire, he's in the school district, he's planning to retire at age 59, and his pension would be $2,900 a month at that point.

• 6:22Speaker 00

  And that $2,900 a month is him only, or do you get a piece of that if he were to pass away?

• 6:29Speaker 01

  That is the survivor option. So it's slightly reduced, but then it would be for both of our lifetimes.

• 6:35Speaker 00

  Okay, good. Will he have the ability to claim Social Security retirement benefits as well?

• 6:40Speaker 01

  Yes.

• 6:41Speaker 00

  Okay. What are his benefits? Let's call it at his full retirement age, which I presume is 67?

• 6:49Speaker 01

  67. His would be $2,600. Mine would be $3,300.

• 6:54Speaker 00

  Okay. And in terms of the, his, just going back to his retirement for one second, he puts 6.5% in the state pension, does he also have a deferred compensation plan, maybe like a 457 or anything like that that he's using?

• 7:07Speaker 01

  No.

• 7:08Speaker 00

  Okay. How much money is in your traditional 401K? How much money is in your Roth 401K?

• 7:15Speaker 01

  Okay, traditional, including from previous employers, I have $325,000, and in the Roth, I have $30,000.

• 7:26Speaker 00

  Great. Do you guys have any other, like a brokerage account or anything else that's, you know, either retirement, non-retirement, anything else that's floating around?

• 7:36Speaker 01

  So we have an HSA of $23,000, and my husband's employer contributes a large chunk to that every year, and we make up the difference to max that out. What else? We have brokerage accounts and some previous employer stock totaling $55,000.

• 7:53Speaker 00

  Wait a second. So that's old employee stock that's just sitting there?

• 7:56Speaker 01

  Right, like employee stock purchase plan that I did, yeah.

• 8:00Speaker 00

  Okay, good. And you're not trading it, it's just sort of out there, right?

• 8:04Speaker 01

  Right. And then we're adding to that brokerage, that's at Vanguard, we're adding $150 a month just to slowly build that up.

• 8:11Speaker 00

  Great. Do you guys have kids?

• 8:13Speaker 01

  One daughter, yeah.

• 8:14Speaker 00

  College done, on their way? What's happening?

• 8:17Speaker 01

  Yep, she's done. So we're, she's launched.

• 8:20Speaker 00

  Launched. Fabulous. How about a home? Do you live in one?

• 8:24Speaker 01

  We do.

• 8:25Speaker 00

  You do? You live in a large Wheel of Cheese in Wisconsin. That's my question. Okay. What, how much is the house worth?

• 8:32Speaker 01

  About $500,000, and the mortgage balance on that is $139.

• 8:38Speaker 00

  What's the rate?

• 8:40Speaker 01

  2.75%.

• 8:42Speaker 00

  And that's a 30, or a 15, or a 20, or?

• 8:45Speaker 01

  It's a 15.

• 8:47Speaker 00

  Wow. That's amazing. How's your cash flow right now? Because you said you're going to have more money, but how is it right this second?

• 8:54Speaker 01

  I mean, now it's pretty good. We're spending a lot of money on home projects and we've been doing that for several years. But we're, we're spending around 8,000 a month, not counting those house projects.

• 9:08Speaker 00

  Okay.

• 9:09Speaker 01

  And we calculated all of our basic expenses we've been tracking for a couple of years and it's about 4,200 a month. So if we had to cut back, that, that's our.

• 9:18Speaker 00

  All right, but we're not going to do that. You don't have to do that. Come on. I mean, you guys have nut, you're going to have really nice income. Now, when he retires at 59, will he work or not?

• 9:27Speaker 01

  I think he will. Probably very part-time, you know, just do something fun.

• 9:33Speaker 00

  Yeah, yeah, yeah. But just like a little bit of money will be coming in.

• 9:36Speaker 01

  Yeah.

• 9:36Speaker 00

  Do you guys, so, okay, you said you're in your early 50s. He's going to keep putting money away. He retires at 59. What happens to you at 59?

• 9:44Speaker 01

  I'm hoping to retire that same year. I'll be 60. And I've always done a little freelancing on the side. So I'll just, I'm planning to just do that, but retire from full-time.

• 9:56Speaker 00

  Okay. So at that time, we have to get you from 60 to 67, right? That's our key. So at that point, you'll have 2,900 a month. But will you guys, will you be willing to both work part-time to make up the difference between what you need, right, and what you essentially you have coming in, right? So you, if, even if it's, I don't say maybe it's not 8,000 a month, but maybe it's 6,000 a month. You only have 2,900 coming in. Can between the two of you just pay for your bills for those years? Or what, what is the game plan? Are you going to just tap, you don't have that much money out of retire, outside of retirement. So what is the game plan?

• 10:38Speaker 01

  Right. So I forgot to mention one thing. I have a small annuity from a previous investment that's going to be 900 a month at age 60. So.

• 10:48Speaker 00

  Okay.

• 10:49Speaker 01

  We'll add that in. But otherwise, right, we have a big, we have a big gap there. We, right now, we've got 22,000 in an emergency fund and we're trying to build that up slowly over time. And I guess that's the question is, can we stash enough money to fund that gap? We will definitely work a little, but we don't want to work a lot. So.

• 11:13Speaker 00

  Okay. So if we said, let's just do some math here, though. So you'll have 3,800 a month coming in. It's taxable. So this is not net. So there's $3,800 a month. Do you think we could get two grand a month between the two of you?

• 11:28Speaker 01

  Oh, easily. Yes.

• 11:29Speaker 00

  Okay. So let's just say two grand a month. I'm not going to force you to do more, right? So now we have 5,800. And so what we really need to think about is, you know, what amount of money do you need to have socked away so that you can fund the gap? So now we're answering your question. You have this money in your Vanguard account. You need to beef that up. You really do. You know, between now and 59 or 60, you guys should be socking away as much money as you possibly can in that Vanguard account. And you may find, I hate to tell you this, that if you don't have enough money to be able to pop out like, I mean, I guess essentially, we're going to need a good couple hundred grand in there. You have 55 now. Okay. But we need a couple hundred grand in there and

• 12:14Speaker 00

  you're going to have to be willing to spend it, by the way. That's the other thing. This is not, I mean, you have no problems when you turn 67. This is a seven-year problem. It's a seven-year itch, right? And we need to figure out how you're going to have, you know, 200 something thousand dollars that's socked away in that Vanguard account that you will be able to draw down to supplement the pension and annuity income and your part-time income.

• 12:39Speaker 01

  We think we'll have about 25,000 extra.

• 12:42Speaker 00

  Great.

• 12:42Speaker 01

  Per year. But that's not, that's not going to make quite enough, I guess.

• 12:47Speaker 00

  Well, but it's, it's good. And, you know, it may be, again, it really depends what your game plan is. If you guys would be willing to work an extra, you can, we can reassess this. You're in your early 50s, right? It could be in five years, you're like, you know what? We have plenty of money. Things are great and we can do it. Or it could be that you say, you know what? It would work better if I worked one more year or two more years. Like, that's all good. It's just that we need to have the money available to you. I think you're close. I really do. The way you make the difference is you either put more money away, so you'd spend less now, put more money away, or you could work longer. If you worked like an extra year, an extra two years, it's probably going to work better.

• 13:28Speaker 01

  So the extra 25,000 you're, you're saying should go into the Vanguard account. And then what about beefing up just liquid cash?

• 13:38Speaker 00

  Yeah. I mean, the, well, I mean, look, I think you need liquid cash anyway. So I would like, you have liquid cash right now. You just haven't sold it. You have the brokerage and the stock account. Right?

• 13:48Speaker 01

  True.

• 13:48Speaker 00

  So you should, like, if you needed it, you should. So yes, I'd like you to have, if you spend eight grand a month, I'd like you to have 40 or 50,000 dollars available. You happen to have it. It's in the brokerage account. So you should have some money that is like your emergency reserve fund, which you have 22, it should be 50. That's what it should be. So if that's 50, and then you build up your Vanguard account to 200, you're going to be good. You're going to be great. And if you cannot do that until you're 61 or 62, you're going to be okay.

• 14:20Speaker 01

  Perfect.

• 14:21Speaker 00

  Now, Kelly, do you have your estate documents done?

• 14:24Speaker 01

  We do. Yep.

• 14:26Speaker 00

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