Nothing Like a War To Bring Folks around to Personal Financial Planning

This month I am hosting a couple evacuated from the Iran/US war zone. They each (ages 40 and 29) have been saving money, but not systematically, and asked for some coaching on how to get their affairs organized.

We’ve had one session so far. Here is what we covered:

– Understanding that 15% of gross income should be saved for retirement.

– First, set up an emergency fund. (How much, why, where, have all been covered)

-Second, track spending. (set up a tool similar to Monarch.com so expenses can be examined to plan your future retirement savings)

I’m thinking about what will be next. I’d welcome suggestions of topics I should cover while I have them here with me, and paying attention.