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Hello! We met with out financial advisor last night and I just wanted to chat about it.
First, I LOVE him! I did not like his three predecessors! It was obvious they just wanted our money to invest. We were $27,000 in debt and they wanted us to invest. I could tolerate that if they hadn't also wanted the names and numbers of our family and friends.
This guy wants us out of debt before we invest. I love that he said that because it makes me feel like he really does have our financial interest at heart! We came to him having paid off that enormous amount of debt so that all that remains is the car and mortgage. He wants us to pay off the car first, then have a substantial emergency fund built up, and THEN he wants us to invest. He'd like us to pay off the mortgage but thinks it's unrealistic in the near future.
We have a lot of work ahead of us. I'm starting to worry about college for our two sons (8 and 10). We wanted to pay for it entirely, but I think that's a very lofty goal. So we sat the boys down last night (they're so young!) and we told them what college costs. We explained that we need their help. So everything they earn or receive in cash from here on out, 25% of it will go into savings to help toward the cost of college. My parents never discussed this with me and I did not understand when I graduated that I'd have to pay for much of college. We have only just paid off college and I'm 35! So I wanted the boys to be in the loop from a young age. Not only is college a given, but helping with the cost is expected of them too.
First, I LOVE him! I did not like his three predecessors! It was obvious they just wanted our money to invest. We were $27,000 in debt and they wanted us to invest. I could tolerate that if they hadn't also wanted the names and numbers of our family and friends.
This guy wants us out of debt before we invest. I love that he said that because it makes me feel like he really does have our financial interest at heart! We came to him having paid off that enormous amount of debt so that all that remains is the car and mortgage. He wants us to pay off the car first, then have a substantial emergency fund built up, and THEN he wants us to invest. He'd like us to pay off the mortgage but thinks it's unrealistic in the near future.
We have a lot of work ahead of us. I'm starting to worry about college for our two sons (8 and 10). We wanted to pay for it entirely, but I think that's a very lofty goal. So we sat the boys down last night (they're so young!) and we told them what college costs. We explained that we need their help. So everything they earn or receive in cash from here on out, 25% of it will go into savings to help toward the cost of college. My parents never discussed this with me and I did not understand when I graduated that I'd have to pay for much of college. We have only just paid off college and I'm 35! So I wanted the boys to be in the loop from a young age. Not only is college a given, but helping with the cost is expected of them too.
But I'd recommend him for sure!
That's why we see him. My husband's parents use this company which was free for the military and their dependents. They take care of our life insurance and we do have a mutual fund we contribute a really small amount to, basically because it's my husband's fund that was started when he was young and we've just kept it going.
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