re: Need advice re: financial planner

Posted on 6/19/10 at 5:08 pm to LSUtoOmaha

Posted by TheHiddenFlask

The Welsh red light district

Member since Jul 2008

18384 posts

Posted on 6/19/10 at 5:08 pm to LSUtoOmaha

Yeah. Definitely chip away at that mortgage. Those student loans are crazy cheap. I wouldn't prepay those.

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Posted by lynxcat

Member since Jan 2008

24240 posts

Posted on 6/19/10 at 5:13 pm to TheHiddenFlask

Do you see yourself staying in your current home for an extended length of time?

As a family of 4, you are living in a home worth more than $1.1 million with the majority of your debt tied to its mortgage.

If you plan on moving in the foreseeable future, then I could see that potentially changing the outlook.

Depending on what your goals are and the standard of living you would like to achieve, you could potentially retire by 50 if you really wanted to.

This post was edited on 6/19/10 at 5:16 pm

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Posted by kfizzle85

Member since Dec 2005

22022 posts

Posted on 6/19/10 at 5:23 pm to TheHiddenFlask

I would say you need to pin down what kind of "financial planning" you want/need to do. Are you talking about maximizing tax efficiency, whether in the future, or in your current state? You should probably talk to your accountant or a tax lawyer. Are you talking about making investments? It completely depends on your risk tolerances, but with that kind of income, your options are pretty much unlimited. I would avoid EJ-type places at all costs and look specifically for people that deal with high net worth clients. I know of a few places in nola, if that's your location. Depending on where you are, you might have to get out of your area and get to a bigger metro area (Htown/Dallas/whatever). What dp you do to be pulling down that kind of haul btw?