No. of Recommendations: 1

Let me start by congratulating you on your interest in educating yourself on financial matters, and for your willingness to step up to the plate to try to help your parents get their financial house in order. Even though your dad has made the unFoolish decision to tap into the pension funds, you can still help guide them in using them wisely to resolve their debt issues and stay out of future trouble.

I frankly do not think your folks are ready to meet with a Certified Financial Planner at this point. Instead, I'd recommend that you convince them to meet with a credit counselor. If there's credit union locally, that's a good place to start a search for one. I have a long-time friend who does this for a living, and she is very skilled at helping people learn to live within their means, solve debt problems, improve budgeting skills, and adopt better money management strategies. Assistance from a credit counselor should be lower cost than from a CFP. Once they've gotten the basics more under control, advice from a CFP will be more worthwhile.

Good luck with this project, and I hope you enjoy life in the VI!

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