the Price of a Financial Planner

I met with a financial planner to discuss setting up a budget. The budget was to include my normal monthly expenses including food, recreation, utilities and then determining how much I can put toward retirement. They were also going to show me a smart way to invest my money using a mix of stocks, bonds, etc.

The service was free for a reason. I am not sure what my planners financial background entailed but I soon learned that I know more than him. His idea of a budget was based on numbers that did not add up. His grand plan for retirement was to deposit part of my tax return in an IRA once a year but allow him to "control" the account and collect commissions watching the IRA gain value. It was very clear all he was interested was getting me to sign on the dotted line so he could meet his quota. He made it pretty clear through his actions that once I signed, he was moving on and I was just a distant memory.

Make sure you know what you are getting into before you arrive. Have them send you literature on the range of services they offer before you commit to a meeting. Do some research on financial planning online and ask some pointed questions right off the bat. If the planner will not answer them until you are face to face, beware, you are being set up for the hard sell.