How to get really objective smart $$ advice

SteveMA
Fri, 01 Feb 2013 16:36:28 +0000

They may be suggesting that you invest your money vs paying off your mortgage because investments earn more than the interest you are paying on your mortgage. If you have refinanced lately and are at say 3% interest and your investments are earning 6%, you are losing 3% of those funds every year. Those investments are also intended for retirement savings, depending on what they are suggesting and no planner worth his salt would EVER suggest funding a 529 plan without having your own retirement taken care of first, meaning that you are doing all you can to meet your retirement goals and then with any left over funds, funding a 529.

No matter what you do, you do pay a fee. You need to find someone that you like and trust. Ask questions, ask for referrals. Ask if they work with an estate planning attorney and a CPA, or if they have those qualifications themselves. Our planner has a team he works with that helps with areas outside his scope of expertise. I don’t expect him to know everything there is a LOT to know.