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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75888  
Subject: Financial Planning on a Limited Budget Date: 4/1/2012 4:00 AM
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http://online.wsj.com/article/SB1000142405270230340470457730...

Personal-finance website LearnVest.com began offering three types of plans in January. With the entry-level plan (costing $69) you get a customized budget breakdown and a financial to-do list, such as building an emergency fund; one phone consultation; and three months of unlimited email support with a certified financial planner. The middle offering ($229) provides a five-year financial plan, a phone consult and six months of unlimited email support. The last plan ($349) adds three phone check-ins and one year of unlimited email support.

The phone and email discussions center around the financial plan that is drawn up for you and making sure you're on track or making alterations if something like a job loss occurs. You don't get any investing advice with LearnVest, however.

Amy Lewis, a civil engineer in San Antonio, Texas, signed up for LearnVest's top-tier program earlier this year. Two weeks after filling out a questionnaire about her goals, credit score and debt, Ms. Lewis spoke with a financial planner on the phone for about 30 minutes. They discussed how to best divide up her money to save for specific situations, like retirement.

For instance, Ms. Lewis says the financial planner suggested she open additional accounts for specific purposes, such as paying property taxes. She also has raised the amount she's contributing to her retirement by 1% of her pay and has beefed up her emergency savings fund to last six months, from three months.

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$349 for that?

intercst
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Author: PucksFool Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70456 of 75888
Subject: Re: Financial Planning on a Limited Budget Date: 4/1/2012 9:19 AM
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She could have heard the same advice on any number of investment forums, from friends & relatives, from the investment rep. of the company that manages her 401K, but if spending the $349 to actually do the common sense things she did, then it was money well spent. It's funny what it takes sometimes for us humans to do something.

PF

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Author: PucksFool Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70457 of 75888
Subject: Re: Financial Planning on a Limited Budget Date: 4/1/2012 9:27 AM
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In a continuing series entitles Edit Once / Post Twice we present the latest installment.

... but if spending the $349 motivated her to actually do the common sense things she did, ....

PF

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70459 of 75888
Subject: Re: Financial Planning on a Limited Budget Date: 4/1/2012 1:11 PM
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Reader's Digest this month has article: A lady never speaks of money. (This kind of miss-information can take some oomph to overcome.)

"Fifty miles from home, you're an expert." (But at home, no one knows who to ask or who to trust. And the advice you get from relatives can be biased or inaccurate.)

If $349 gets you advice you trust and can take action on, that is good news. But let's hope whoever takes the time to learn and become more sophisticated. [If you don't know enough to keep your advisers honest, you easily become sheep to be sheared.]

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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70460 of 75888
Subject: Re: Financial Planning on a Limited Budget Date: 4/1/2012 1:44 PM
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We used to have a couple of saying whenever management would drag in an outside expert.
"An expert is someone from more than 50 miles away."
"X stands for an unknown. A spurt is a drip under pressure. Thefore an expert is an unknown drip under pressure."

OTOH, sometimes it turned out okay. The outsider, of course, knew nothing about our project, so they depended on us to inform them. Then the would report the problem and their recommended solution. Which, quelle surprise, was the same solution that we had already come up with.

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