tag:blogger.com,1999:blog-17974015.post9194272253915630902..comments2024-03-15T01:11:32.832-07:00Comments on Bardiac: Check UpBardiachttp://www.blogger.com/profile/11846065504793800266noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-17974015.post-772265094510845012008-06-17T21:00:00.000-07:002008-06-17T21:00:00.000-07:00Tiny Shrink, thanks for your comment. And good p...Tiny Shrink, thanks for your comment. And good point about what the advisers are selling! A couple friends use an adviser they like, who's basically an accountant and investment adviser, and not sorking for a company. So you pay by the hour, but don't get sold extra insurance or load mutual funds.Bardiachttps://www.blogger.com/profile/11846065504793800266noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-27082080485901639562008-06-17T10:22:00.000-07:002008-06-17T10:22:00.000-07:00I agree with everyone else's comments. You can fin...I agree with everyone else's comments. You can find an investment/financial planner at a large investment company, or an accountant who is estate planner certified, for example. My accountant's advice to many people in this situation, who have extra money and may either pay down their mortgage or invest, is to invest. Right now, interest rates may be poor, so if the best rate of return you can get is less than the rate on your mortgage, then it may make sense to pay down the mortgage. However, if you can get a rate of return on investment that is higher than your mortgage interest rate, then that makes more sense. A financial adviser will also look at your tax burden and help balance it: some money will be invested before taxes (401k), some after (Roth IRA), etc. As Anastasia said, it's not always about lowering your taxes (because they still have to be paid, even if you don't withhold enough), but making your tax burden more evenly distributed. <BR/><BR/>I've been meeting with an adviser for a few months now with my husband, and it is not really embarrassing (to me). I will warn you to watch out for what they're actually selling, if you go with a big group like Ameriprise or AGEdwards, etc. The advisers do not make money off giving you advice. Instead, they make money off selling you insurance products (usually): disability insurance, life insurance, etc. If you're well-insured, then you might consider a CPA or accountant with estate planning training instead. They charge an hourly rate but don't *usually* try to sell you other products.Tiny Shrinkhttps://www.blogger.com/profile/14584375132138526435noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-58361808205160248432008-06-17T07:57:00.000-07:002008-06-17T07:57:00.000-07:00Anastasia, Good point. I don't quite understand m...Anastasia, Good point. I don't quite understand my own feelings of embarrasment, but they're there.<BR/><BR/>Susan, I think you're right.<BR/><BR/>Sisyphus, :) Good luck with your own planning!<BR/><BR/>Susan, I don't think I'm wise about this at all, but thanks :)Bardiachttps://www.blogger.com/profile/11846065504793800266noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-1783579200803430962008-06-16T17:50:00.000-07:002008-06-16T17:50:00.000-07:00What they said: you are thinking so wisely about a...What they said: you are thinking so wisely about all this, that any planning person would think you're the perfect client!susanhttps://www.blogger.com/profile/12000470374101306070noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-53533456213692962712008-06-16T16:18:00.000-07:002008-06-16T16:18:00.000-07:00I'm just at the beginning of all this financial st...I'm just at the beginning of all this financial stuff, but I agree with the advice to go see a planner person. And yay for the planning, financially cautious types!Sisyphushttps://www.blogger.com/profile/09880634753539329199noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-10685687176049895812008-06-16T12:54:00.000-07:002008-06-16T12:54:00.000-07:00You sound careful and thoughtful. It shouldn't be ...You sound careful and thoughtful. It shouldn't be embarrassing to talk to a financial planner: why should you assume you know the best way to get where you want to go. The trick, as Anastasia suggests, is to find someone who shares your values, whatever they are. Our financial planner had to accept it when we said we thought we were undertaxed, and so that our primary goal was NOT avoiding taxes. <BR/><BR/>I'd think it was worth several hundred dollars a year to meet with someone for an hour or two to sort out where you are on your life plan, and what to pay attention to.Susanhttps://www.blogger.com/profile/09716705206734059708noreply@blogger.comtag:blogger.com,1999:blog-17974015.post-3618541360408774552008-06-16T10:37:00.000-07:002008-06-16T10:37:00.000-07:00my brother in law manages our investments and I ha...my brother in law manages our investments and I have to say, his advice is invaluable. PH is pretty good with money and what not but BIL just has a lot of information. He works for a small firm, too, so he deals primarily with folks who have a fairly modest income. I would guess you could find someone to help manage things for you and advise with a minimum of embarrassment.Anonymousnoreply@blogger.com