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, a major 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 […]
September 3, 2017

Short Term Savings: Where Should I Put It?

From time to time we all need to make purchases that could land us in debt. Maybe you know your car is on its last leg and making a vehicle purchase is in the very near future. Or maybe you are hoping to buy a home in the next few years. That’s why I highly suggest saving any extra money you find in your budget for those types of purchases. In doing so, you will lessen the financial burden these acquisitions put on you. However, when it comes to short-term savings, I’m often asked if there is an investment vehicle you can utilize to grow your money quickly with very limited risks.
August 27, 2017
what is an emergency fund

What is an Emergency Fund? Why it is Absolutely Essential?

One thing is true of life—expect the unexpected. That’s why any financial guru around will stress the importance of having money set aside for when “life happens”. But what is an emergency fund and what should it be used for? I can tell you it’s not for that 65″ TV you’ve been eyeing when yours bites the dust. While having no TV may seem like a catastrophic event to some, it’s not exactly the type of crisis that you’ll want to dip your fingers into your cash stash for.
August 7, 2017
hired a financial planner

Why I, A Financial Planner, Hired a Financial Planner

One of my favorite Warren Buffet quotes is, “Lethargy, bordering on sloth should remain the cornerstone of an investment style. This year we neither bought nor sold a share of five of our six major holdings.” The second richest man in the U.S. is advising us that investing should be boring. Basically, he wants to remind us that there are two major factors to achieving success. The first is time. The other is allocation. Both of which are on your side. And considering his successes, mimicking his investing style probably isn’t a bad idea.
December 27, 2016
best online retirement calculators

Take Action on your 401k to Secure your Future

In the past, most people found a job and stayed with it until retiring. However, times change. Studies suggest we hold down around eleven jobs from the age of 18 to retirement. Not only are we getting used to new surroundings and new colleagues eleven times, but it also possibly means a new 401k plan with each new company. If you just leave these 401k plans alone, they may not be in the best position for you at retirement, so here’s what you should actually do with them. What Are My Options for My 401k? When considering moving jobs, you’re probably thinking how it will affect your personal life, career, and more. For the most part, your 401k plan isn’t at the top of your list of priorities in making that decision. So it gets left alone. However, now is the time to change that for the betterment of your […]
June 20, 2016

Retirement, College, Weddings: Can I Save/Pay for it All?

“If I only had more money then I’d be able to do this”. That’s a misnomer. The truth is you’ll never have enough money, and that’s on all income levels, if you don’t have a plan. Perhaps you went online and used a retirement calculator and now you’re thinking, “I need to save this much for retirement and I need to save this much for my kids college and my daughter’s going to get married and I have to put some money away for that and I need to put some money back for insurance and forget going on vacation!” You’re basically just overwhelmed like most people are. They ask, “How in the world can I save enough money for everything all at once?” My answer is simply this…the same way you would eat an elephant…one bite at a time. The problem when it comes to saving for all the various […]