September 16, 2017
alternative to college savings plans

An Alternative to College Savings Plans

College tuition costs are a hot-button issue for most. After all in our recent Presidential election, one candidate planned to take on the rising cost of higher education if elected. Being a CERTIFIED FINANCIAL PLANNER™ in Knoxville, TN, which is a college town, I know the extra strain saving for tuition puts on some of my clients. I’ve known them to use everything to help cover education costs; 529s, prepaid plans, UGMAs, and even Roth IRAs! In a recent conversation with one client, he blew me away with his novel idea on how he planned to pay for his child’s college education. I felt it was such a brilliant alternative to college savings plans that I needed to share it. Now his idea will not be for everyone, and it certainly isn’t a full proof plan. However, he certainly mastered the most creative way that I know of to lessen the burden and prevent his child from going into debt with student loans. The Idea This particular client told me he knew that college costs for his son were going to be about $100K for four years. He also conveyed to me that he knew he had the money to […]
August 2, 2017

Freebies to Make Life Financially Simple

Free stuff. I hear you. Your thinking, “Yeah right!” While getting something for nothing these days just doesn’t happen very often, it does happen. The best part is there are freebies out there that span the free world! They run the gamut from stocks to diapers. Take a look at these and see which ones you want to pocket. Free Stock Trades Since I’m a financial guy, obviously the one I want to start with is stocks! Yep, free stock trading. No need to hire someone, you can absolutely do it yourself (although there are good reasons not to). You can use fee-free trading platforms like Loyal3 or Robinhood. All you do is open an account (both come in apps or you can use a web browser), give some required information and start trading your funds. You can invest as little as $10 on Loyal3, while Robinhood requires no minimum balance. You can also check with more-traditional online brokers to see if they’re running promotions. So get your trading shoes on and go! Free Samples Whatever you’re looking for, there’s likely a free sample somewhere. Many blogs and sites offer free samples. You can nab anything from toiletries to clothing to food, […]
December 31, 2016

17 Financial Resolutions for 2017

We all do it at the beginning of every year; make resolutions with the intention of keeping them. And while you may be ready to kiss 2016 goodbye, it doesn’t mean you’re ready to tackle 2017, especially when it comes to your finances. So we here at Financially Simple® decided to help you become happy, healthy and wealthy (to some degree) with 17 financial resolutions for 2017. 1. Start an Emergency Fund We’ve all been there. The car breaks down, while a water pipe bursts in your home and little Tommy falls out of a tree breaking his wrist. Misfortunes are in everyone’s future. No matter how you spin it, you’re likely to see an unexpected emergency with unexpected expenses this year. However, that doesn’t have to derail your financial plans IF you prepare. Don’t get caught without extra cash to spare your budget when life does happen, because we all know it will. If you don’t already have an emergency fund, start one today. We’ll help you get started here. 2. Budget! Then follow it!!! When it comes to budgeting, we Americans stink at it. Or at leas the sticking to it part. Just one in three actually take […]
September 30, 2016
March 7, 2016 ~ Weekly Update

Stock Market Highs: What you can do to keep your portfolio on track

Historical stock market highs are prompting investors to take a close look at their portfolio to maximize returns. According to CNBC through the end of July, the major averages staged a remarkable rally since the March lows. U.S. markets surpassed the highest levels of 2009 with the Dow boasting the best July returns since 1989 and the S&P 500 and NASDAQ in 1997. With the stock market up, July was the best monthly performance for the Dow since October 2002 and April 2009 for the S&P and NASDAQ. Since March the S&P turned in a performance that is up 45.96%; meanwhile, the Dow shot up 40.09%, and the NASDAQ 55.96%. So what does that mean when for your portfolio? Even though the major averages are up this year, your portfolio is still likely down. You could be showing lower return than 3-5 years ago. If that sounds like you, it may be time to rebalance your portfolio. That may lead you to find that it’s out of sync with your ultimate goals. Perhaps saving for retirement or college is a major goal you hope to accomplish with your investments; then now is definitely the time to review where you are and […]