I’m Going to Pay for Financial Advice

I've Moved! The Boomer Chronicles has closed after 6 years, but you can keep up with me on my new blog at http://www.rheabecker.com

I hate people telling me what to do, but I finally decided — for my own good — that I would consult a financial planner. I got the names of a few good ones from friends. My aim is to hire someone I can pay by the hour (not the kind who sells you all manner of stuff because they make a commission off of it). I have been winging the financial thing on my own for a long time, but I think I’d feel better if I could either confirm that what I am doing is right, or scrap everything and start over. Here goes…

7 Responses to “I’m Going to Pay for Financial Advice”

  1. Catch Her in the Wry Says:

    Very wise move.

  2. Janet Says:

    I’ll be interested to hear what they say!

  3. TheQueen Says:

    At the firm I work for, if a representative in the field tries to sell something and it is not appropriate for the client, they get our field supervision department all over them.

  4. Laura Lee Carter aka the Midlife Crisis Queen Says:

    Hey Rhea:

    Choose carefully but I agree with your decision. Mike and I also have a young advisor who is way into crunching the numbers and helping us plan our retirement. We enjoy the comfort of knowing that some else is keeping an eye on things for us.

  5. Emily Says:

    We need to do that too. I’m not the most financially savvy person. Maybe I can have our accountant suggest someone – he is a really great guy and we trust him.

  6. Hattie Says:

    Luckily, my husband is very clever about money and has made many wise decisions.

  7. Jo-Anne L Says:

    I find that most financial advisors take a “vanilla” approach – or will offer “vanilla” type answers when you pose hard questions. That said, good luck – and here are 4 suggestions I learned through the “School of Hard Knocks” – 1) Make sure your advisor has all the certifications needed to do what you need to have done; 2) check how much he/she has “under advisement.” (Size does matter for some things in life.) 3) Do your own homework. You can’t delegate this function 100% – think about the Bernie Madoff victims; and 4) Ask questions. Don’t be shy. You need to understand what’s going on. Good luck!

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