My husband and I recently met with a financial planner to discuss rolling over my retirement savings account from my former employer.
How we finally found a planner we felt we could trust is a different story, but this planner, I’ll call Mr. Smith, is a Dave Ramsey endorsed local provider, and as expected, much of his advice was on par with Dave Ramsey’s teachings.
In addition to discussing the rollover, we also discussed our finances in general and that we are paying off what seems like insurmountable debt, the majority of which now is student loan debt. We also spoke about our income, which is lower than we would like because my husband is working at an entry level post doc position and I am freelancing part-time while caring for our young children during the day.
Mr. Smith assured us, “Your income will grow more than you can believe once you pay off that debt because debt takes so much of your energy. Get rid of that debt completely, and all of your energy can go toward building your careers.”
While I found the entire conversation beneficial, that piece of information is the one that I keep returning to.