We decided in June to hire a Financial Advisor. We had a big ole mess, and needed some help. Not just getting out of debt, but reestablishing a positive cash flow, saving for retirement, planning for insurance needs.....all that big grown up stuff.
Not sure we made the right decision.
So far, he isn't telling us anything we don't know. Plus we feel like we are hemorraging money, and that the longer he takes to stop the bleeding, the more in trouble we will be. Additionally, he is S-L-O-W. I spoke to him on the phone this morning, and hopefully we are closer to the same page.
I am hoping that by next Tuesday evening when we meet with him that he has more of a game plan than the last time we met.
If you haven't sunk any money into a financial advisor...RUN FOR THE HILLS! You guys are in no position to be planning for retirement or anything like that. Go to your local public library and check out Dave Ramsey's "The Total Money Makeover" it will change your life like it did ours. Check out our blog at www.notlivinghere.blogspot.com...seriously, this advisory won't help you!!
ReplyDeleteIn our case, I think we needed one. Our cash flow was a major problem and I needed someone to help us figure it out.
ReplyDeleteI have DR's book, and love it! But it wasn't a case of just cutting back to debt snowball. Unless we cut out gas and food. The interest rates were so high on our CC, that we were not going to be able to tackle it alone.
We have stopped planning for retirement for the moment; insurance is back burnered (except medical, car, house of course).