Reply to Is it ok not to have a financial plan?

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Reply to "Is it ok not to have a financial plan?"

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[quote=Anonymous]We went to an hourly fee-based financial planner about 10 years ago (actually I think it was the week that Lehman fell apart...) and there was really not much benefit from our discussion with him aside from confirmation that we were on the right track.  He made a few suggestions on which funds in my 401k that he recommended because they didn't contain overlapping assets but that was about the only useful information.  We were already fairly well diversified (and even more so now with a rental property in the mix).

What I have found useful over the years since has been to track for myself what our balances are in retirement, savings, college, etc.  I have a spreadsheet that I update at least once a quarter.  We don't have a budget beyond "we'll need a new car in x years and the house will probably need y in repairs in the next two years" and making sure that we have that available.  DH hates to think about money, so he let's me handle it, but I like to check in with him every so often even if it's just to say "hey, we have $x saved in each of the kids 529s right now".

What is the rate on your DH's student loans?  How long would they take to pay off after the house is paid off? [/quote]

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