Tag Archives: total money makeover

Financial Advisor: Not This One

My first financial advisor discussions have ended with a quiet crash and burn. The Bogleheads’ Guide to Retirement Planning warned me about commission-based folks. I listened to them and then called him on some junk.

Jackie, sitting in our PS3 shipping box.We met yesterday to catch up on some of the things we talked about the first time, such as pre-tax vs. post-tax investments, “real wealth” vs. “paper wealth”, etc.

Showstopper: he was trying to sell me insurance.

Lousy insurance at that.

His ideas of safe, “real wealth”, tax-protected investments were whole life and variable universal life insurance. Which he’d get a commision on for selling me.

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A bit less of a slacker

I finally got off my ass and finished moving over my teaching retirement money.

I asked them to cut me a check back in February so that I could do a rollover into an IRA. Well, turns out you can only rollover into a traditional IRA, so I got two accounts set up (traditional and Roth) and stalled, and stalled, then moved into the house, then stalled some more…

Ah, life. It happens. And the check is chump change in the grand scheme of things, really… Blah, blah, inertia.

I’m appreciating a new, larger salary now, though, and have located my inner “gazelle” (although it’s more like a puppy, really) again for debt reduction/financial smartness/etc. I’m not going to be regularly investing in retirement yet (go away, student loans!), but I can at least get this little bit into a mutual fund of my picking.

So about three weekends ago, I finally deposited the check. Of course, you have to hurry and deposit the money in the IRA before the g-man thinks you’re keeping it for yourself. So I did so promptly. *woof*

Continue reading A bit less of a slacker