Nancy

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Aspiring School Counselor Struggles with Debt

“Like many young adults, Tacoma graduate student Taylor Reyes is pursuing her dreams of a career and a home while college debt piles up around her.

She’s worried whether she can earn enough money as a school counselor to buy a house and pay off student loans that could hit $50,000 by the time she graduates in May. “I had felt so weighed down by these things,” the 25-year-old Fircrest resident said.

But two volunteer financial planners showed Reyes that her ambitions can become reality. They also gave Reyes a plan for starting her career, managing her student loans and owning a home. Reyes could achieve all of those things by the time she’s 30.

Her story is also a case study of how young people can navigate the treacherous path from school to career and homeownership without getting swamped by debt.

The Puget Sound Chapter of the Financial Planning Association voluntarily connected Reyes with two pro bono advisers at Blue Canoe Financial Planning in Seattle. They were reassuring about Reyes’ financial condition. “It’s generally good, given that she knows where she wants to go,” said Nancy Dienes, a registered financial adviser and Blue Canoe’s CEO. “She’s taken some risks, but it’s reasonable.”

Dienes and her colleague, financial planner Holly Davis, developed a road map for Reyes that has tips for other young adults in similar circumstances…..”

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Aspiring School Counselor Struggles with Debt 2017-06-23T22:11:01+00:00

Powerball windfall: Strategies for the suddenly wealthy (Komo News)

By Connie Thompson

Komo News

The mere thought of sudden wealth triggers lofty visions. Virtually everyone has a plan.

But whether it’s 1.5 Billion, or several hundred thousand- money experts say the first thing to do- is nothing.

“Don’t quit your job right away.” , said Certified Financial Planner Ted White. “Don’t go out and make a big purchase right away. Don’t alter your lifestyle right away.”

White and his colleagues at Blue Canoe Financial Planning in Seattle are used to helping clients people who come in to big money. They say the key to coming out ahead in any big money game is to think like a coach- and assemble a strong team to that has your back….

 

Read entire story at Komo News

Powerball windfall: Strategies for the suddenly wealthy (Komo News) 2017-06-23T22:11:01+00:00

Paying for Son’s College weighs on Serious Kenmore Savers (The Seattle Times)

By George Erb
Special to The Seattle Times

“Jennifer Ferdinand and Todd Parker have steady jobs, pensions and retirement accounts. They keep their spending in check and expect to pay off their home mortgage after 15 years.

In short, the Kenmore couple are well positioned for the future, with a notable exception: paying for their son’s college education.
Jonah, who turns 7 this month, could enroll as a college freshman as soon as 2027, or 12 years from now.

His parents are committed to paying for his college, yet they had not set aside any money to do so.
Ferdinand, 42, and Parker, 46, were stopped by several things. They found the complexities of college-savings plans daunting. For a while, the couple thought they could cover the cost with their household cash flow. Then their own retirement savings seemed threatened by dramatic increases in the cost of a four-year college degree.

Tuition and fees at Washington state’s public-research universities jumped an average 9.5 percent a year for the 10 years ending in 2014, according to the state Guaranteed Education Tuition program, or GET.

To find out how to finance their retirement and their son’s education, the couple turned to the Puget Sound Chapter of the Financial Planning Association. It referred them to Ted White, a financial planner with Goddard Financial Planning in Seattle…”

Click here for complete story on the Seattle Times website


Paying for Son’s College weighs on Serious Kenmore Savers (The Seattle Times) 2017-06-23T22:11:01+00:00