The American Dollar
One industrious American family's focus on a financial goal of freedom. Through worldly personal finance education, here is our story.
Goals | Portfolio | Subscribe | About Us | Contact Us    

  Financial Links on the Web
  CNN Money
  ING Direct
  Mortgage Calculator
  PF Podcasts
  Smart Money

Our Story: Both my wife and I are 27 years old and have gone through financial hell and back. Now we are on track to financial freedom, however we are not financial advisors or professionals, just everyday people. Share our journey from a negative networth and email us if you have questions or comments! :)


Friday, March 10, 2006

Federal Refund

At what point would you seek professional guidance with your money? I'm on track with my investments with ROTH and 401k for this year and working on paying down the home. Perhaps I should wait til I'm done paying down the house. It will be a couple years out, I know but its good to have the pioneer to help me out. Until then, I guess I'll blog!

On a side note, we received our federal tax refund in our checking account today for $400. I'm glad that we even had a refund; its going straight to savings. We don't have any kids or that many deductions. I'm trying to get that as close to a zero refund as possible. My HR depatment helped me out a lot. The weekend is full of budgeting and FUN. (the two are synonymous)


Blogger bored said...

At what point would you seek professional guidance with your money?

The safe answer is "it depends". I'll stay away from advice, but at least give you my experience...

I educated myself about investing, you know, the basics. I managed our own finances, no problem (except that pesky bubble a while back). I told myself that I would consult a financial planner when my total investments totaled $100k.

I hit that $100k mark and started getting nervous. "Am I reallying doing the right thing?" I visited a financial planner. He was kind enough to run my finances and future goals thru his fancy program, and he told me I was right on track (with a few suggestions of course...he was trying to sell me stuff). He also tried to convince me to move all my investments under his firms umbrella so he could keep an eye on things and continue to provide service...for a 1% fee. 1% per year of all my investments with them. That's steep!

At least he confirmed that I was on the right track, so I felt much better...Now I'm $200k+ and can still sleep at night. We'll see what happens when I hit a mil. ;)

At what point would you seek professional guidance with your money?

It depends...on how well you'd like to sleep at night!

9:46 PM  

Post a Comment

Links to this post:

Create a Link

Home is here!

Emergency Fund
2007 Roth Contributions
$8,000 Total

special thanks to ajaden webmasters