#FinancialAdvice #FinancialCoaching #RetirementPlanning
##### Consider Your Goals and Needs
Before making a decision on whether to continue your sessions with a financial coach or to run in the opposite direction, take some time to consider your financial goals and needs. Are you looking for someone to provide accountability and guidance on creating and managing a budget? Are you seeking advice on retirement planning and investments? Understanding what you hope to achieve from these sessions will help you determine the best course of action.
##### Trust Your Instincts
If you are feeling hesitant or unsure about the advice being provided by your financial coach, it is important to trust your instincts. In the situation described, it seems like you had reservations about the suggested Indexed Universal Life (IUL) policy. It is crucial to listen to your gut feeling and do your own research to ensure that any recommendations align with your financial goals and values.
##### Evaluate the Value of the Sessions
Take a moment to reflect on the value you are receiving from the sessions with your financial coach. Are you gaining new insights and knowledge that you find beneficial? Do you feel like you are making progress towards achieving your financial goals? If you are not seeing the value in continuing these sessions, it may be time to reconsider the arrangement.
##### Seek Second Opinions
If you are uncertain about the advice you are receiving, consider seeking second opinions from other financial professionals or trusted individuals. Getting a fresh perspective can help clarify your options and provide you with a more well-rounded view of your financial situation.
##### Communicate Your Concerns
If you decide to continue your sessions, it is essential to communicate any concerns or questions you may have with your financial coach. Open and honest communication is key to building a successful partnership and ensuring that you are on the right track towards achieving your financial goals.
##### Conclusion
Ultimately, the decision to continue or stop your sessions with a financial coach is a personal one that should align with your financial goals and values. Trust your instincts, evaluate the value of the sessions, seek second opinions, and communicate your concerns to make an informed choice. Remember, your financial well-being is important, and it is essential to work with someone who has your best interests at heart.
The title “financial coach” is (for the most part) unregulated.
Anyone can market themselves as a “financial coach” (and charge $250/hr).
Drop this leech.
You sound like you can handle things on your own.
For everything else, use the Prime Directive in the PF Wiki.
Dave Ramsey, oh boy.
$250 an hour, oh boy.
The type of person who needs Dave Ramsey’s advice doesn’t have $250 to spend. This “advisor” person is a leech.
It sounds like a waste of time and money. You said yourself she hasn’t offered great advice.
If you want an accountability partner, post in the PF weekly win thread. You don’t need to pay someone $250 for it.
As a financial coach myself. This is exactly why I didn’t get into life insurance. There’s definitely cheaper coaching that aren’t trying to see you things you don’t need.
$250 an hour? Nope
>I was looking for an accountability partner since my spouse has no interest in creating and managing our budget. Not to mention there’s no interest in retirement planning either.
A counselor to help facilitate discussions with your spouse would be a better investment for you.
Ramsey is not for people like you.
You can learn all you need to know here and other financial subs. Give bogleheads a shot, too, (but enjoy life as well before going 100% full ordained Bogle because sometimes it’s smarter to get your traveling done early, etc).
$250 an hour? Lose them fast.
You should keep going, because this woman is brilliant. She is a conwoman who has figured out how to get her marks to pay her to let her make her pitch!
She scams you out of $250 an hour and is still trying to sell you something for her benefit
The first question you always ask is, “Are you a fiduciary?”. This person doesn’t seem to be. I’ve been investing for many years and handle my own. That said, it’s never a bad idea to get a check up from a fee only fiduciary financial planner.
What makes your financial situation so complex that you decided to find a financial advisor?
The only life insurance Ramsey supports is Term life. Run from this advisor. Let the Financial Peace people know they are trying to sell you that garbage. They won’t be recommended anymore after that.
Drop the advisor and report them to Ramsey solution. That isn’t the kind of person they want to be suggesting!
Wow, she’s charging YOU $250 an hour to sell you bad products. Stop your sessions!
You know how spam email is intentionally misspelled because then only the truly gullible or stupid would respond?
You pay $250/hr for someone to read the internet to you, of course they are going to sell you expensive insurance. After that she’ll introduce you to her time share boyfriend and his crypto bro.
Run.
I’ve got degrees in accounting and finance, and I’m telling you to run. Dave Ramsey’s advice is great for beginners. Suze Orman is even better. But you’re past that. You can learn so much more on your own, and you will become accustomed to spotting folks trying to sell you things that make them money.
Read. Watch YouTube. Check out forums like this. Keep a notebook of things that interest you so you can research them yourself and get multiple viewpoints, pros and cons. I can tell from your post you are educated enough to know how to learn. You can teach yourself and save soooo much of that money. I can guarantee you the $1,000 you spend on four sessions with her is better off in your own hands, put to work by you, on an investment you researched yourself.
And don’t worry about your spouse. Mine has a lot of anxiety around money, and likes to avoid it too. But slowly, as I talk to him about what I’m doing and how I’m budgeting, he’s getting more and more interested. I just try to make those conversations very relaxed, non demanding of him, and let him see my enthusiasm. He comes to conclusions on his own. I don’t say you need to stop eating out immediately and start grocery shopping and planning meals! I say we spent $1,340 last month on dining out. That’s it. Full stop. He can take it from there and tell ME how HE wants to handle it. It’s empowering to make finances a judgement free zone in your marriage.
You usually you get a free dinner from people pushing bad financial products, not pay them $250 per hour.
You can find all of the personal finance advice you need on YouTube for free…or just ask here.
I’ll coach you for $250!
Anyway no just leave them alone
Report her to FPU. They/Dave don’t support these types of insurance policies either and may kick her from the program.
Wow yeah this sucks, not only are they bilking you for $250 an hour they are trying to scam you into whole life. Good thing you figured it out! I suggest never going back.
OP the John Oliver 2016 video on Retirement Plans (no link not sure if ok to link but very easy to find the vid on YT) is a classic and contains relevant advice on fiduciaries. Billy Eichner also does a hilarious bit at the end. It’s only about 20 mins and u should watch.
Put your money in VOO and VTI. set it and forget it. max your 401k if there is a match. Then do Roth IRA if you qualify. Then go have dinner and forget it. Add to it every paycheck. Retire well off. It really is that [simple.Show](http://simple.Show) me anybody that has beat the S&P 500 over the last century (excess of 10% a year, on average). You won’t.