I'm actually dealing with this with my folks right now. My dad is a CPA and, all around, a pretty bright and well-prepared guy. He just had his contract canceled by his company this past Friday and, it seems, all the planning over the last year leading up to this forced retirement was just shit. The sobering reality hit him that he needed another year or so for short term costs is really weighing down on him.
We've opened a 529 for our daughter, but we haven't started regularly contributing yet -- just special occasions and gifts from the grandparents. The investment loan is a real estate project that was crowd funded by a close group of friends. I didn't borrow for the full amount, just a small portion of what I needed. I do understand that this should be the first to go.
Other notes -- I have a $1MM 30 year term life on myself with some smaller life insurance options through my company for the wife and baby. Wife and baby have some whole life plans paid for by her folks that they took out themselves.
I thought about seeing a fee-only CFP but feel like I'm doing alright by myself, for now. Plus I don't want to shell out the $3K...