Here are a few tips. We plan to have local investment people write for us as well as to give general information for terms, such as stock, bonds, t bills, how to read a stock table.
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Saving
Savings should be an eight months emergency fund. Savings should be safe and sound and liquid in a money market or savings account with the highest possible interest rate. After you accumulate your eight months emergency fund you could put the excess in a CD.
Investing
Only invest money you won't need for at least 10 years. In a down market you are better off to use dollar-cost averaging.
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Retirement
When planning for retirement, keep in mind that the life expectancy of a woman is now 83, so you need to plan for living for 25 to 30 years.
Insurance - Life
Get life insurance to protect anyone who is dependent on your income.
Buy term insurance.
Opt for a guaranteed renewable policy.
Aim for a death benefit that is equal to 20 times your annual income.
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