We brought in some financial statements and went over our goals and our 5 year plan with him, and while I was initially liking some of the things he was saying, I have to say I disagree with some of what he was saying in a major way.
Including our emergency fund, we have around 28k liquid at the moment. $18,500 is our emergency fund and our checking account padding -- the rest is our sinking funds (Insurance, Christmas, Birthdays, annual bills savings, and a few designated funds like vacation and medical.) Most of it is liquid for a reason-- because we will empty it at some point over the course of the year, but we probably have around $4k of it that isn't going to leave by years end.... but isn't money I would want to tie up quite yet. (1k is a tax buffer since my disability checks didn't have withholding, Another $1k is vacation, and our $1700 our profit-share check)... yet, he was suggesting we "invest" these funds....
Then he seemed to think that pulling my pension at 55 was going to cause a tax event and penalties after he said he was familiar with Calpers and the teachers pensions. (it won't -- because I'll separate from the employer and take the monthly payments, not take the lump sum to invest because it has a survivor benefit so if I die, my husband continues to receive the payments and we will most likely make it beyond 67 years of age when the "lump sum" would be used up..)
...
So instead I came home and spent some time "re-balancing" my funds myself to put them in the 4 categories Dave recommends.
