What to bring to/ask of financial planner?

[Seasons]

I've got an upcoming, one-off (not recurring) session with a financial planner to see where I am and what I should be doing with my money.

What should I bring with me? I'm assuming I should bring these #s: salary, assets (and breakdown into retirement vs. non-retirement), debts, monthly expenses; as well as a list of financial goals, my age, my child's age, my anticipated retirement age. Anything else?

What should I ask, besides "how am I doing?"

[SeekingJoy]

nak

The terms of your debts.

[Seasons]

bump - please, guys?

[velochic]

Sounds like a good list.

What do want to get out of the financial planner? That would be my first question and foremost in my mind when I went for this visit. At this point in time, any financial goal would be like trying to shoot at a frantically moving target. A one-time visit is about $800 usually, so you want to get your money's worth.

[mnnice]

Copy of your will and/or trust information if you have such documents. How much and what sort of life insurance you have. If you don't a will trip to a lawyer might me more useful than a planner.

[Seasons]

Originally Posted by velochic

What do want to get out of the financial planner? That would be my first question and foremost in my mind when I went for this visit. At this point in time, any financial goal would be like trying to shoot at a frantically moving target.

Agreed that "financial" goals are inappropriate now. I guess I want to know (especially as a solo parent a/k/a no safety net): am I on-track for being able to support my daughter and myself indefinitely? Am I saving enough [the retirement calculators say yes] and with the right tools? Am I overlooking something that "responsible financial management" would include (examples: emergency fund, will, life insurance, long-term disability once I'm that old, college savings plan)? Is my spending appropriate for my savings level?

Originally Posted by velochic

A one-time visit is about $800 usually, so you want to get your money's worth.

My job benefits give me a free 30-minute consult. But 30 minutes is so short a period, I want to be well prepared!

Originally Posted by SeekingJoy

The terms of your debts.

Originally Posted by mnnice

Copy of your will and/or trust information if you have such documents. How much and what sort of life insurance you have.

Thanks! Will bring them.

[velochic]

Well, I was just saying that the old rules are out the window.

[SeekingJoy]

In 30 min, I'm not sure how much of this you can actually cover.

Regarding your retirement savings, although online calculators say you are fine, you might want to dig into the underlying assumptions being used. ITA with Velochic. The old rules are out. All bets are off.

Personally, I wouldn't/don't plan on SS or a defined-benefit pension plan as part of what we know we need to be saving. Even small changes in infation rate used and your expected ROI assumptions will have huge effect on how much money you may end up with. Exponential numbers are a mindboggling thing.

I know this is beyond what you asked for, but you could always post for feedback here or within another financial community.

[Seasons]

To be really really honest, I think what I what (and am willing to pay $0 to get, haha) is to hear "you're doing great! nice job with the solo breadwinning! you'll be fine!"

Of course what I can realistically expect to hear is a checklist: got your 9-month emergency fund? got a trust for your child listed as beneficiary of life ins and will? are you maxing 401k, Roth and pension-plan contributions? got a crystal ball?

[SeekingJoy]

Yup. Bump it up to a year's expenses (including the cost of private healthcare) in accessible savings, eliminate all debts as fast as you can, budget/save ahead for larger purchases (next car, annual insurance premiums, etc), and as you can increase your 529 savings. That is probably what you can expect -- at least from me.

You are doing a good job.