Reply to Do you have a financial planner if your HHI is $250-300K, and, if so, why or why not?

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Reply to "Do you have a financial planner if your HHI is $250-300K, and, if so, why or why not?"

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[quote=Anonymous]My brother is a financial planner.  When I was in my early 30s and had a husband but no children yet, he sat down with me and had me fill out a questionnaire or financial goal of sorts. It really helped to show me what expenses we'd have coming down the road - things we hadn't thought of.  Did we plan on having children?  How many?  Would one of us take off work?  For how long? What large expenses are involved with children that we'd pay for such as braces, childcare, college, etc.  What age did we expect to retire?  Would we move out of DC to a cheaper COL area?

I think he does this with his clients and they update it every so often.  Of course, not everything goes according to plan, but it's easier to make adjustments when you have the big, ideal picture laid out.  I hadn't even thought of saving for braces, but they are expensive!

We didn't even discuss where to invest money we'd be saving - more what we would be saving for and how much we'd need to save.

This is obviously something you can do yourself.  It's really financial planning/goal setting.  Once that is done, you can do the next step which is where to invest/how much risk to undertake, etc.  I think as long as you are fairly knowledgeable about personal finance (and it sounds like you are) and what's available, such as 401k, IRAs, 529 plans, life insurance, you can do fine without a financial planner.[/quote]

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