Question

I would love to get some opinions on financial planners. We met with one this past week and really liked him. Our main goal is to buy our first house in a year and he said it is doable. He also said by hearing our numbers that we could pay off our only credit card in a year, and our car loans in 3. He had a lot of suggestions for us that we know would really benefit us (disability insurance for my husband since we live off of his income, term life insurance, and more info on house stuff). I feel like his knowledge would really benefit us. The only thing is that his fee is $2, 800 for a year ($233 a month). We talk about it and we hold back because that $233 could go to debt. That is literally the only thing holding us back. what should we do?  

Answer 1

We meet with a Wealth Management Advisor and it is a free service from our bank.  

Answer 2

Do not do it. If you now know it’s possible to do, you can do it without his help. Then go from there. It does not take a financial planner to buy a home.  

Answer 3

I’m not sure if this is the same thing as credit repair but I just stopped using an agency because it literally did nothing and I was out around $400! So not worth it. Do your research and try handling it yourself!  

Answer 4

I don’t know what kind of job he has but does his work provide financial planners? My job provides us with 4 appointments a year if we want them.  

Answer 5

You don’t need a financial planner. You are smart enough to figure it all out on your own without shelling out more than $200/mo. In my opinion their business is a scam. Are they going to pay your bills for you? No. You can easily educate yourself on how to pay debt down or save money without that kind of expensive advice. Or, if you feel like it is needed, do they have a one time fee for you rather than needing them for monthly services? Your questions don’t need 12 months worth of answers (I don’t think).