After meeting with a financial advisor I have known for many years, I'm starting to doubt what I have been doing and whether I'm going about things correctly or not. I tend to get a bit defensive sometimes, and I try to keep that in check, but I really feel like this financial advisor was angry that I was able to save money. She doesn't like where I decided to put everything (vanguard), she said that by pulling the funds out of American funds and moving them to vanguard, I am screwing myself and my co-workers out of a better front end load rate... She wants me to stop contributing to my company sponsored plan (except what they match) and stop contributing to my Roth IRA in favor of building up an emergency fund of around $30,000 first.
I'm disappointed. She is an advisor I have know for many years and gave me good ideas when I was younger, and I truly expected her to look at my current situation and be impressed, or maybe even a little proud, that I have been saving and investing. I am divorced and am a single with three kids...not a high wage earner, but doing good enough to save. Mid-thirties. No cable. Cheap cell phones.
Anyway, now I have been trying to decide if what I'm doing is all wrong... I don't have a lot saved by mustachian standards, but I've max out both the company sponsored Simple IRA ($12,500/year) and my Roth IRA ($5500/ year) for the past few years. I keep about $3,000 in a checking account as cash. I always sort of figured my Roth was my emergency fund... I have access to credit and could use that until the funds came out of the Roth... I own my home with very little left to pay off... I have a car loan, but it is at 0% interest. I have no other debt... Low monthly expenses.
So, I guess I'm asking what you guys think.... Should I stop and save $30,000 as cash in a bank account before I continue maxing out retirement plans, or should stay the course and ignore her advice?