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Subject:  My Meeting with the AmEx guy Date:  2/24/2004  10:13 PM
Author:  batdoe Number:  39406 of 80971

(cross posted)

So, here's the update on my meeting with the AmEx guy.

First we went through his preliminary financial plan for us, but there were problems. He had college start dates for each of my children of 2007. The oldest of my kids will be 11 in 2007, so we couldn't get to all the bottom line stuff. That was annoying, but in his defense he had to rush his wife to the ER on Friday and one of his daughters has a broken leg. Things are not going well at his house and it's taking up much more of his attention than usual. I can understand this, but I would have preferred he took the time to proofread his work, even if he had to postpone our meeting.

So, we have to fit $1545 into $1000 - that is, we want to allocate $1545 to various objectives but we only have $1000 a month to save and/or invest. We have 13 savings objectives (4 kids in college, 4 bar/bat mitzvahs, one car, one vacation, retirement funding, dh's life insurance and finishing up funding our efund) - he says 13 is a record for him. It seems most of his clients are not so interested in providing for college or other things for their kids and just focus on their retirement. His preliminary advice is to put less into our retirement savings (currently we save 16k per year for ret