Unless the financial planner is a family friend, realize it is a business transaction. Just be clear that you are terminating the business relationship and call it a day. Getting into the weeds or bringing emotion into it isn't going to help anything.Hi everyone... new to this thread but I saw @SouthFayetteFan had started this one so I had to pop over and see what you're all chatting about. I didn't get through the last half of the pages but I did skim the first half.
I technically HAVE a financial planner but I am looking either for a new one (need tips on how to do that without hurting her feelings. She's a nice lady but quite frankly I am not convinced she is particularly savvy; plus she ONLY communicates by phone and that just doesn't work for me as I work nights and business hours aren't my thing) and/or how to move my current (very small) investments to 100% online. Anyone got any tips on either or both of those items?
Also, does anyone have a Coverdell for their kids? If you do, any thoughts on those vs a 529?
And, I do NOT contribute to my employer's tax deferred "thing" (457b) . I have avoided it all this time because I don't know enough about investing to even know if it's a "good" program or not. My question is, if it does NOT have an employer match, do you think I should look into it anyway? I do contribute a small amount to a Roth every month outside of work. A very small amount. Conversely, if I find out it DOES have an employer match, should I do it regardless of how "good" a program it is? What say you, wise DIS-ers?
Regarding the Coverdell v 529 debate, here's a good website: https://www.chrishogan360.com/esa-529-comparison/
Regarding the 457, if it's tax deferred, chances are that the tax savings from your contributions will far outweigh whatever fees the investment options are within it. An employer match would be gravy on top of that. If you have a match that you're not taking advantage of, you're leaving free money on the table and that's bad. The only times you should not contribute to a tax deferred account are if the investment fees are sky high and include front/back end loads (aka initial/withdrawal fees) or if you are so hard up for cash that contributing to the fund would cause you to go into debt or lose a house. So in simple words, you should probably contribute as much as you can to it.