Help me get over financial paralysis.
November 15, 2010 12:44 PM Subscribe
I'm married, in my mid 30s, with one dependent. My family desperately needs to get a financial plan and I've got a great recommendation for a financial advisor but I can't get myself to make the appointment.
posted by anonymous to Work & Money (10 answers total) 4 users marked this as a favorite
We have ~$180,000 in cash that we would like to grow over the next few years until we are ready to buy a house (we are waiting until we know where we are going to settle). In addition we would like to make a plan with regards to retirement/college etc. I know that we need outside guidance to make this happen but I can’t get over my fear of the cost of hiring a financial planner.
I am the child of parents who grew up at the tail end of the depression and I've inherited their financial paralysis – neither of them ever made an investment that wasn’t guaranteed. Just thinking about it puts me on the brink of an anxiety attack. I’ve spent so much of the last 15 years barely making ends meet and now that we have some excess I feel like I’d be foolish to spend any of it. I am also aware of how foolish it is to have it in a Bank account making 1.8% interest. Have you gotten over a similar financial paralysis? How?
Also, on a more practical level I can’t decide whether we should pay the financial advisor by the hour or by commission. Any Advice?