2nd Meeting with My New Financial Advisor

Wow! We had a great meeting but I am just astonished by some of his recommendations as they are so completely outside the box. Maybe it's because I have never sat down with an actual FA before and only worked with Mutual Fund people at my bank and this guy is so much more well versed in financial products. Maybe that's what it is. I'm not sure. I was quite taken aback when he suggested I stop paying anything more than the interest on my HELOC. When he showed me what I would be doing with all that money each month instead and I asked him oh so innocently "But when will I pay off my condo?" he replied with "Well, maybe you don't need to pay off your condo." I was quite confused until he explained it all to me and it all made perfect sense. I'm afraid I don't understand all of it well enough right now to explain it to all of you but it did indeed make perfect sense. I'll be learning more the next time he and I meet.

He was able to take my current take home pay and make that money work much more efficiently for me, while adequately planning for my retirement, still allowing for an emergency fund and allowing savings for yearly vacations.

I am now trying to sweet talk my bank into letting me early redeem a substantial amount in RSPs that are sitting in GICs earning pitiful amounts of interest. Hey, I didn't really know any better but now I do, so now I will do better. I don't know if they'll go for it but it doesn't hurt to ask. If they say no, then as soon as those GICs mature I am pulling them out of the bank and giving them over to this advisor to add to my other RSPs.