AboutBruce Julien Expertise I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.
Experience I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.
Education/Credentials BA in Accounting, University of Maryland 1990
Question I have always heard that you should pay off your credit card debt before you take any money to invest it. I am currently in a situation where I have to regularly charge large amounts of money on my credit card (for attorney fees) and I don't see being able to pay this money off for 7 or 8 more years. I may be able to pay it down in about 3 years. I am 38 and need to start saving for retirement. Should I invest any money I get or should I use it to pay off credit card debt? The interest rate on the cc is currently 15%.
Answer The next attorney you need will be a bankruptcy attorney if you are charging large amounts that you can't keep up with and don't see it going away for 7 or 8 years. Whatever you invest will go away in bankruptcy anyway
You are obviously in a tough spot and I'm sorry for you there. try to juggle the balances around at these low interest deals and pay down the cc debt. You won't be able to earn more than 15% in your investments anyway
