Basically he said he was sorry that we didn't want to continue the relationship. That he was sorry he never got back to us, but he didn't find out anything new....so he didn't let us know.
Hello? All you had to do was e-mail us and say "spoke to XYZ at ABC Comp...confirmed what we already knew....will let you know what else I find out." Don't just ignore us.
And for goodness sake....if our case was too complicated...then tell us you weren't the right man for the job!
Dave Ramsey has a "sale" on his TotalMoneyMakeover.com site. Might be worth the investment.
Anyone use it? Not use use the babysteps...but use the site????
Showing posts with label Financial Advisor. Show all posts
Showing posts with label Financial Advisor. Show all posts
Saturday, November 7, 2009
Thursday, November 5, 2009
I did it!!!
I fired the Financial Advisor!!
I feel so FREE!!! Back to the drawing board. Clean slate.
I am going to MAKE G-man read Dave's Total Money Makeover. We need to get on the same page.
Also checking into if a refi qualifies in here, or potential a move in our future....Government program
I feel so FREE!!! Back to the drawing board. Clean slate.
I am going to MAKE G-man read Dave's Total Money Makeover. We need to get on the same page.
Also checking into if a refi qualifies in here, or potential a move in our future....Government program
Saturday, October 31, 2009
Guess who decided to "show up?"
The Financial Advisor!
Our last contact with him was over 6 weeks ago. I sent him an e-mail, and never heard back. Not a call, not a e-mail, text message, or message in a bottle. NADA.
Got an e-mail yesterday that he wanted to know how it was going. Did the 2 changes we made (stop contributing to retirement, change student loans) help at the end of the month. And that he spoke to a friend who doesn't trust Zillow (see post where Zillow said the value of our house had tanked) and we should call this other guy.
Haven't responded to him. On my To Do list was the letter that formally fired him. Here's the catch though....
We have an account for Bossy Boy that is in a trust. Per his plan, we need to liquidate a small part of it and use that money for Bossy next year (vs us putting it in our FSA). Don't know how to do that....so I need some help there.
GRRRR. I really should just fire him.
Our last contact with him was over 6 weeks ago. I sent him an e-mail, and never heard back. Not a call, not a e-mail, text message, or message in a bottle. NADA.
Got an e-mail yesterday that he wanted to know how it was going. Did the 2 changes we made (stop contributing to retirement, change student loans) help at the end of the month. And that he spoke to a friend who doesn't trust Zillow (see post where Zillow said the value of our house had tanked) and we should call this other guy.
Haven't responded to him. On my To Do list was the letter that formally fired him. Here's the catch though....
We have an account for Bossy Boy that is in a trust. Per his plan, we need to liquidate a small part of it and use that money for Bossy next year (vs us putting it in our FSA). Don't know how to do that....so I need some help there.
GRRRR. I really should just fire him.
Saturday, September 26, 2009
Now it is dead in the water
I called about our personal loan and explained to them what we were trying to do (i.e. it isn't new debt, but more of a consolidation). They told me to reapply and explain in detail the plan.
Well, we still got turned down.
The FA is about to get fired by us, because basically he is like....I dunno know. He wants us to try and get the loan from the local bank. But if they say no, then we are running out of ideas. We can't refinance the house, we can't gain cash flow. Nothing.
CC1 is losing ground. I am paying the minimum (which is up to $482) and the finance charges are killing us. We may have to close this acct and settle, which I have no idea what that will do to our credit score, thus making the refi on the house even more difficult.
Well, we still got turned down.
The FA is about to get fired by us, because basically he is like....I dunno know. He wants us to try and get the loan from the local bank. But if they say no, then we are running out of ideas. We can't refinance the house, we can't gain cash flow. Nothing.
CC1 is losing ground. I am paying the minimum (which is up to $482) and the finance charges are killing us. We may have to close this acct and settle, which I have no idea what that will do to our credit score, thus making the refi on the house even more difficult.
Wednesday, September 16, 2009
Personal Loan Update :(
They turned us down due to debt to income ratio being too high.
Well, crap.
In reality, this loan wasn't creating new debt....it was helping to reshuffle what we have. But they don't see it that way. When we receive the official letter (I was turned down on the phone), there will be info on contesting it. So, it may not be dead in the water just yet...but that is being drastically hopeful and optimistic (and trust me.....I am not good at playing Miss Mary Sunshine.)
Spoke to the FA, and he is bummed. This was a lynch pin in the plan....and now he has to figure out a way for us to come up with $7,000 to pay off the retirement loan so we can keep working the other steps. I told him I am concerned that if this was a NO, what else will be a NO. Plus, I don't want our FICO score to take too much of a beating.
There is a few other things we can do to come up with the money....none of which are good. Sell my engagement ring is one. Parents.....that is iffy.....I know my parents really can't do it. I know his mom can...but I hesitate to ask.
I can continue to sell off extra stuff we have, but I doubt we have $7,000 worth.
Frustating.
Well, crap.
In reality, this loan wasn't creating new debt....it was helping to reshuffle what we have. But they don't see it that way. When we receive the official letter (I was turned down on the phone), there will be info on contesting it. So, it may not be dead in the water just yet...but that is being drastically hopeful and optimistic (and trust me.....I am not good at playing Miss Mary Sunshine.)
Spoke to the FA, and he is bummed. This was a lynch pin in the plan....and now he has to figure out a way for us to come up with $7,000 to pay off the retirement loan so we can keep working the other steps. I told him I am concerned that if this was a NO, what else will be a NO. Plus, I don't want our FICO score to take too much of a beating.
There is a few other things we can do to come up with the money....none of which are good. Sell my engagement ring is one. Parents.....that is iffy.....I know my parents really can't do it. I know his mom can...but I hesitate to ask.
I can continue to sell off extra stuff we have, but I doubt we have $7,000 worth.
Frustating.
Friday, September 11, 2009
Another Financial Planner Meeting
We are starting to head in the right direction. We are off like a herd of turtles, I tell ya!
So the newest plan.....
1) Personal loan that will pay off G-man's retirement loan (which isn't even in my master tally....it is auto deduct from his pay, so I never think about it).
2) Pay off retirement loan, and then in 60 days (per the terms of the acct), take out the max we can and pay off CC1 and Car. This should leave about 12k that we can use towards a refi.
3) Refi the house. In order to avoid PMI, we probably will need some cash (see #2). Hopefully we will still have a little left over to fund an emergency fund, maybe to pay off loan (see #1).
All of this, plus other changes we recently made, should increase cash flow. This plan will take us roughly until Jan. 1, which then we will see where we are. It is really all just a reshuffle of the deck. The debt really doesn't go away, just is redistributed. Once all the redistribution happens, THEN we are in a situation of repayment.
I think I will feel better when I start to see things decrease. I am still upset/frustrated/sad that we are STILL not at a place where we are breaking even. This plan makes us just go LESS in the hole each month.
So the newest plan.....
1) Personal loan that will pay off G-man's retirement loan (which isn't even in my master tally....it is auto deduct from his pay, so I never think about it).
2) Pay off retirement loan, and then in 60 days (per the terms of the acct), take out the max we can and pay off CC1 and Car. This should leave about 12k that we can use towards a refi.
3) Refi the house. In order to avoid PMI, we probably will need some cash (see #2). Hopefully we will still have a little left over to fund an emergency fund, maybe to pay off loan (see #1).
All of this, plus other changes we recently made, should increase cash flow. This plan will take us roughly until Jan. 1, which then we will see where we are. It is really all just a reshuffle of the deck. The debt really doesn't go away, just is redistributed. Once all the redistribution happens, THEN we are in a situation of repayment.
I think I will feel better when I start to see things decrease. I am still upset/frustrated/sad that we are STILL not at a place where we are breaking even. This plan makes us just go LESS in the hole each month.
Monday, September 7, 2009
Latest from the Financial Advisor
I am still not sold that this is the right guy for us. It isn't that I think he doesn't know what he is talking about....it is more that his communication skills are lacking in my opinion. If he wants us to do something, I need to know why. I am not comfortable just putting him in the driver's seat and following him like a mindless lemming.
That being said, the current thoughts include taking a personal loan to pay off G-man's retirement loan, then in 60 days (per the policy) taking out the max we can from there to pay off CC1, car, and something else (this something else has changed a few times, so not sure where we stand on it). Additionally, the pre-payment penalty on our mortgage will be up at the end of October...so we will so a re-fi.
We have stopped contributing to our retirement account for the time being. Neither of us is totally comfortable with this, but we are trying to increase cash flow, so it is a motivation to get it back on track quick so we can keep going on this.
Changed the student loan payment, which will be much less for the next 24 months, and then it will go back to where it is now, plus about $20.
I need to call and set up another appointment with him for the end of the week.
That being said, the current thoughts include taking a personal loan to pay off G-man's retirement loan, then in 60 days (per the policy) taking out the max we can from there to pay off CC1, car, and something else (this something else has changed a few times, so not sure where we stand on it). Additionally, the pre-payment penalty on our mortgage will be up at the end of October...so we will so a re-fi.
We have stopped contributing to our retirement account for the time being. Neither of us is totally comfortable with this, but we are trying to increase cash flow, so it is a motivation to get it back on track quick so we can keep going on this.
Changed the student loan payment, which will be much less for the next 24 months, and then it will go back to where it is now, plus about $20.
I need to call and set up another appointment with him for the end of the week.
Wednesday, August 19, 2009
The Financial Advisor
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.
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.
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