Welcome to the Jill on Money Show. It is Sunday, July 2nd. And we are here trying to help

you make better financial decisions. I promise that we are going to keep it tight for these

weekend intros. So let's get to it. We are going to talk to Mark, who's on the line

from New York. You know, we're trying to decide what we do. My wife has a small business

and so it's the end of each year. We have sometimes we have, you know, S corp extra money

and I'm trying to figure out what would be the best way of, you know, responding into

your dad money. Now, so how old are you, Mark? I am 37. And how old is your wife? She is

also 37. Okay. Children? Yes, one, two year olds. Okay. You are in New York. Do you own

or rent? We own a recent purchase. And that actually basically all of our emergency fund

to to help with the down payment. You said the emergency reserve is low. How low? Like

probably a thousand dollars. That's pretty low. That's about a thousand dollars better

than zero, but not much better. So what would you estimate your six to 12 months of expenses

to be? What should we be having in the emergency reserve? Six probably six months, maybe

30,000. Okay. What do you do for a living and how much do you earn? Yep. So I work for

your profit and they earn about 165,000. Okay. Great. And your wife, you said has an S corp.

Does she pay herself a salary or is it all does she just take the S corp dividends as

her compensation? She pays herself a salary of about 40, that probably actually after this

about 35,000. Okay. 35,000. Got it. So on the 165 and the 35, the $200,000 a year of income.

How are you guys doing? You feel comfortable? We do. Great. Now tell me a little bit about

the nonprofit that you work for. Do they have a 403B? Do they have a really awesome pension?

Is there something that is exciting in the retirement layout for your compensation? No, no,

none of that. We have a 401k option. There's no contribution, but the only exciting thing is the 401k

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