Financial Planner for middle class income?

[Anonymous]

Does this exist?

I think we need some outside help on how to best save, pay down debt, and make future decisions. We don’t have any investments, or real wealth though. In fact, you can probably tell my ignorance just by my asking. Or I’d Just like to ask questions to a professional to set some realistic goals.

Any insight, minus flames would be appreciated. I’m just trying to figure out options.

[Anonymous]

If you have debt, you don't need a financial planner. I would visit one of the many finance forums on the internet where people will be more than happy to help you strategize. I've seen long threads spanning multiple years, where the first post is the person posting his/her financial situation, and people chime in through out the months and years. I would go there. Debt elimination requires an attitude change and evolving financial strategy, it's not a one and done type of deal where someone gives you a complete map. You need some support and cheerleaders. DCUM is not the place because of the anonymous nature of the forum which does not lend well to extended exchange over a long term.

[Anonymous]

Take a look at Rick Edelman Financial services. Lots of local locations and take all types of clients.

[Anonymous]

Here's a list of fee-only financial planners - https://www.washingtonian.com/best/financial-advisers/search/speciality/Fee-Only%20Financial%20Planners/

[Anonymous]

I'd highly recommend bogleheads.org . I've learned a tremendous amount from them about what strategies I wanted to follow for all of the same things you're thinking about. If I hadn't found them, I'd have gone with a fee-only planner.

[Anonymous]

One of the first things if not the very first thing they will tell you is to start a budget to track income and expenses to see where your money is going. They will want you to do that for 3 or 4 months. If you haven't done that yet, start, so your first meeting will be that more productive. Next it will be to pay down debt starting with your credits cards and throwing as much as possible at the card with the highest rate. If you have a 401(k), they will want you to contribute enough to get your employer match. That's a starting point at least.

[Anonymous]

Anonymous wrote:If you have debt, you don't need a financial planner. I would visit one of the many finance forums on the internet where people will be more than happy to help you strategize. I've seen long threads spanning multiple years, where the first post is the person posting his/her financial situation, and people chime in through out the months and years. I would go there. Debt elimination requires an attitude change and evolving financial strategy, it's not a one and done type of deal where someone gives you a complete map. You need some support and cheerleaders. DCUM is not the place because of the anonymous nature of the forum which does not lend well to extended exchange over a long term.

Read some books or do Dave Ramsey's Financial Peace university. Visit the Mr. Money Moustache forums. Learning how to control your spending is not something you *can* outsource. Learning the basics of investing is not something you *should* outsource.

[Anonymous]

Second recommendation for Boggleheads - also suggest Millionaire Next Door

[Anonymous]

This explains the difference in Dave Ramsay vs. Suze Orman on paying off debt. But at the end of the day either works!

https://www.thesimpledollar.com/dave-ramsey-vs-suze-orman-which-plan-for-dealing-with-debts-is-best/

[Anonymous]

Agree with the others that you will get the advice you need at far less expense by reading books and blogs by Dave Ramsey. I also found Elizabeth Warren’s (with her daughter) All Your Worth tremendously helpful in balancing our financial goals. And I track everything on Mint. Once you’ve gotten your priorities in place and eliminated debt, then a financial planner can help you strategize investments. Good luck.