Well I had the consult with the financial planner yesterday.
I decided to keep it because he will help make sure we stay on track, which would be a good investment in the long run.
For first steps he set up an action plan of:
1) Use 20% of discretionary income to building our emergency reserve, 80% to go towards paying down our car loan
2) Setup a Money Market account and contribute $52/week to it to build our emergency reserve
I know it sounds obvious but we can't do much more at the moment because of our cash flow. But I think its still worthwhile because he's assigned these as "homework" items - so it develops a sense of accountability for me.
He'll also be sending us an 82 pg "plan" for our long term goals - retirement, DH's truck, motorcycle, going back to Hawaii, buying a home there, and really all of this stuff I am unsure how to tackle ALL of them.
So I think its worth it BUT if I don't think this has added any value to the process, I can always cancel and they will refund me my enrollment fee. Yet, I have a feeling that this will be worth it.
We meet again next week.
Met with the Financial Planner
October 2nd, 2008 at 12:12 pm
October 2nd, 2008 at 01:44 pm 1222951484
Good luck.
October 2nd, 2008 at 04:40 pm 1222962021