What the Financial Planner Said

The meeting with the financial planner went well. It was more a discussion of the process and what we would work on together, so no actual advice was given. Still, it was good meet with him and lay the groundwork.

He typically visits with clients three times a year: during tax season to go over deductions and whatnot and discuss what to do differently in the coming year; during the summer to discuss how to achieve long- and short-term goals; and during the fall, to discuss employee benefits. But during the first year, we'll meet four or five times to get a foundation in place.

And, of course, he's available via e-mail and telephone if something comes up that I want his advice on.

His fee is more than I expected, though. My friend who uses him pays a lower fee because he started seeing him a several years ago. And once you hire him at a rate, it stays that rate. So if I hire him at this higher rate, it will stay the same even when his rates increase again. Also, the planner's confident that he'll be able to recoup my money for his fee and save me even more. (And to that I say: He'd better. Otherwise, what would be the point?)

I'm going to do it at least a year. I didn't have to do much thinking the last few years, since my financial "planning" was simply to pay off my credit card. Period. Now that that's done, though, I don't know what to do. It will good to have someone who does know take the reins and help me get some kind of structure in place.

Our first meeting is in October. I've already started completing my profile. So many questions! I'm encouraged; this will be good.