Saving Money for a Home Down Payment: Best Investment Option for Jared and Joaquim

Financial Planning for Jared and Joaquim

Your clients, spouses Jared and Joaquim, are both 33 years old. They are concerned about saving money for a down payment on a home. Currently, they have $120,000 set aside for that purpose. They plan to start a family in about a year and would like to buy the home in six months. The amount they have saved is more than 20% of the value of the homes in the area they want to move. They look to you for a place to save the money until they need it.

Recommended Investment Option

Given the couple's goal of buying a home in six months and their desire to save their funds in a secure and accessible manner, the most suitable recommendation for Jared and Joaquim is:

The Oldtime Life Insurance Company Variable Annuity

Why Choose The Oldtime Life Insurance Company Variable Annuity?

The Oldtime Life Insurance Company Variable Annuity offers a combination of investment growth potential and insurance protection. This investment option allows Jared and Joaquim to invest their money in a variety of funds and asset classes while providing them with the flexibility to access their funds when needed.

Benefits of The Oldtime Life Insurance Company Variable Annuity

• Investment Growth: The variable annuity allows the couple to invest in a range of funds, potentially generating higher returns compared to traditional savings accounts.
• Insurance Protection: The annuity provides death benefit protection, ensuring that Jared and Joaquim's beneficiaries receive a specified amount in the event of their passing.
• Tax-Deferred Growth: Earnings from the annuity are tax-deferred, allowing the couple to maximize their investment returns.
• Flexibility: The couple can access their funds as needed, making it a suitable option for short-term savings goals like a home down payment.

Conclusion

Considering Jared and Joaquim's goal of purchasing a home in six months and their need for liquidity and growth potential, The Oldtime Life Insurance Company Variable Annuity is the most suitable investment option for them. It provides the right balance of investment flexibility and insurance protection for their financial needs.