Can you recommend a financial planner in DC? Also. Um. How does that work? Newlywed financial noob questions inside.
We are in the very happy position of watching our bank account grow each month, but we have only vague ideas of what to do with this growing nest egg.
Our savings account interest isn't breaking even with inflation. Rates on CDs are pretty terrible too. Homeownership is something we're interested in, and getting a low mortgage in the next few years can save us thousands of dollars in our lifetime.
This "buy now, or save first?" calculator
says we should buy now. But, are condos riskier than single family homes? Should we buy for the size of our family today, vs what it might be in 5 years? (i.e. having a baby?)
Obviously, this is a complicated situation and something we should ask a professional about. But my real question is this: how do financial planners make money? Is it a fee I pay, or a commission on products they sell us? Is this a wise investment to make? How much can I expect to pay a financial planner, and do they even care about small potatoes like us? How do I go about finding a financial planner? I belong to a credit union and USAA.
I feel like alarm bells go off whenever someone tells me how to spend my money. Can you give me reassurances?
Feel free to memail too. Thanks!