C&J Wealth Advisors’ Campaign Raises Money for ADFAC

Money for ADFACC&J Wealth Advisors engaged their client base in a fundraising campaign that generated over $4,800 for Aid to Distressed Families of Appalachian Counties’ (ADFAC) School Supplies Program. For every client donation, C&J Wealth Advisors made a financial pledge and volunteer efforts. This will help to purchase approximately 96 backpacks and supplies.

ADFAC’s 2017 goal is to provide 3,500 backpacks filled with school supplies to underprivileged Anderson and Morgan County children. In 2016, ADFAC helped 3,060 children in 30 area schools to have the necessary supplies. According to ADFAC, this was only 34% of the children that could have benefited from the 2016 program and the need grows.

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TJ Hurst Joins C&J Wealth Advisors

TJ Hurst

C&J Wealth Advisors, an independent, fee-based wealth management firm, has announced that TJ Hurst has joined the firm as an Associate Financial Planner. He will help further develop their growing portfolio of clients in the Knoxville and Oak Ridge, Tennessee areas.

Hurst has a business development background in the banking industry. “I look forward to advancing my financial career with a well-respected, client-focused firm and a team of certified professionals,” comments Hurst. He holds an MBA from the University of the Cumberlands Hutton School of Business and a B.S. in Administration from the University of the Cumberlands.

Mark King, President of C&J Wealth Advisors, said, “TJ’s dedication to expanding his financial knowledge and experience are key to his success. He brings the enthusiasm to seek new clients and expand our client demographics.”

25 Ways to Improve Your Finances in 2014

~~ 25 Ways to Improve Your Finances in 2014 ~~

Are you ready to overhaul your spending patterns, start funneling more money into your bank account and buy better (and safer) products in 2014? If so, you’ve come to the right place. We’ve rounded up our favorite money stories to give you the bite-size nuggets you need to get your financial resolutions in place. Here are 25 ways to improve your finances in the new year:

1. Start feeling good about money.

If you have a “money shame,” or something that embarrasses you or makes you feel badly about how you’ve handled money in the past, then make this the year to move on. Financial therapist Bari Tessler Linde says many people have trouble thriving in their current financial lives because they’re still dwelling on past mistakes. “Most people need to understand their money story first,” she says, which includes assessing strengths along with relationships to spending, earning and giving.

Read full article at: http://ow.ly/smrcZ

Tips to Manage Spending in Retirement

~~ Tips to Manage Spending in Retirement ~~

ADVISERS put a considerable amount of effort into talking to clients about accumulating a life savings. But advisers and their clients tend to devote less thought to how to spend that money when it’s time.

Some sort of conversation generally happens when clients approach retirement, but it may need to start happening earlier and become much more sophisticated.

“If I have $1 million in my retirement account, how I’m going to distribute it is ninth out of 10 steps,” said David A. Littell, director of the retirement income certified professional program at the American College of Financial Services.

Mr. Littell has actually drawn up a list of 18 risks that people have to consider. These include some you can control — spending too much — and some you can’t, like living longer than expected, needing expensive health care and not being able to work as long before or in retirement as planned.

Read full article at: http://ow.ly/vLwwx

Tips to Manage Spending in Retirement

~~ Tips to Manage Spending in Retirement ~~

ADVISERS put a considerable amount of effort into talking to clients about accumulating a life savings. But advisers and their clients tend to devote less thought to how to spend that money when it’s time.

Some sort of conversation generally happens when clients approach retirement, but it may need to start happening earlier and become much more sophisticated.

“If I have $1 million in my retirement account, how I’m going to distribute it is ninth out of 10 steps,” said David A. Littell, director of the retirement income certified professional program at the American College of Financial Services.

Mr. Littell has actually drawn up a list of 18 risks that people have to consider. These include some you can control — spending too much — and some you can’t, like living longer than expected, needing expensive health care and not being able to work as long before or in retirement as planned.

Read full article at: http://ow.ly/vLwwx

 

Navigating the Logistics of Death Ahead of Time

~~  Navigating the Logistics of Death Ahead of Time  ~~

Abby Schneiderman, then a 32-year-old mother and entrepreneur, was getting ready to celebrate her daughter’s first birthday when she received the news: Her older brother had been killed in a head-on collision while driving through East Hampton, N.Y., with his family.

Suddenly, her fledgling business — Everplans, a website that helps people create detailed end-of-life plans — took on greater meaning. “In the middle of building this site to help all of these hypothetical people that might die someday, my family experienced a tragedy,” she said. “My brother was 51 and had all of the resources to have a plan in place. But my family was still left with a huge amount of logistics and complicated decisions that we had to make.”

Read full article at: http://ow.ly/vjirY

Pitfalls of Reverse Mortgages May Pass to Borrower’s Heirs

~~ Pitfalls of Reverse Mortgages May Pass to Borrower’s Heirs ~~

The only solace for Isabel Santos as she spends her evenings huddled over stacks of yellowed foreclosure notices is that her parents are not alive to watch their ranch-style house in Pleasant Hill, Calif., slipping away.

Ms. Santos, 61, along with a growing number of baby boomers, is confronting a bitter inheritance: The same loans that were supposed to help their elderly parents stay in their houses are now pushing their children out. “My dad had nothing when he came here from Cuba and worked so hard to buy this house,” Ms. Santos said, her voice quivering.

Similar scenes are being played out throughout an aging America, where the children of elderly borrowers are learning that their parents’ reverse mortgages are now threatening their own inheritances. Reverse mortgages, which allow homeowners 62 and older to borrow money against the value of their homes that need not be paid back until they move out or die, have long posed pitfalls for older borrowers.

Read full article at: http://ow.ly/v3G0Q

 

How to Cut Health-care Costs in Retirement

~~  How to Cut Health-care Costs in Retirement ~~

Medicare beneficiaries spent on average $3,324 a year of their own money on health care in 2010, according to a recent AARP report. But 10% of beneficiaries — almost five million people — spent more than $8,030, according to the report.

That may seem like pocket change compared with what you need to earmark for prescription drugs if you retired last year. To wit: Setting aside $151,000 of your nest egg for prescription drugs would give a couple retiring last year with median health costs a 50% chance of having enough money to provide for their medications, according to the Employee Benefits Research Institute. And setting aside $220,000 would give you a 90% chance of having enough money for your meds.

So, what can you do to trim those kind health-care costs in retirement? Financial planners shared with us some novel and some tried-and-true ways to cut costs.

Read full article at:  http://ow.ly/sF6SQ

A Time to Splurge, and a Time to Pinch Pennies

~~ A Time to Splurge, and a Time to Pinch Pennies ~~

A friend of mine never understood why his neighbors spent a lot of money on things he didn’t care about, like houses and cars. To him, these things weren’t worth the money. So one time when he was being particularly grumpy about it, I asked him about his family’s spending habits.

I had noticed that compared with most families I knew, his family appeared to spend a lot of money on vacations and even more on recreational gear. My friend, being a smart guy, took only a moment to see the disconnect. Both my friend and his neighbors had made a decision that it was worth it to them to spend more on things and experiences that they really valued.

Read full article at: http://ow.ly/oVm7I

Save for Retirement First, the Children’s Education Second

~~ Save for Retirement First, the Children’s Education Second  ~~

A HALF-DOZEN years ago, Brian Appelbaum’s savings plan was focused mainly on his own retirement. But now he is married and the father of two young children.

So Mr. Appelbaum, 53, has reassessed his outlook, as he and his wife try to save money for their retirement as well as for their children’s education. The couple are contributing regularly to a college fund — and are planning for Mr. Appelbaum to work longer, since the children will be college age when he is in his 60s.

“The overall package of things you have to consider at my age is different,” said Mr. Appelbaum, owner of a Scottsdale, Ariz., business that makes cutting blades for the construction industry.

Saving for retirement and a college education at the same time is a challenge for many families, but financial planners advise that if funds are limited — and for most people, they are — it is crucial to fund retirement first before contributing to an education fund.

Read full article at: http://ow.ly/ue6RH