SJK Financial Planning, L.L.C.
Wes started his career as an insurance agent for his family’s independent insurance agency in Fort Worth, Texas, where he was born and raised. He owned several businesses over the years in the financial services and other industries.
After working decades in the insurance and financial services industry, Wes eventually left the insurance field to commit to financial planning and investment advising. Wes founded SJK Financial Planning, where SJK represents the initials of his children.
Wes graduated with a bachelor's degree in Business Administration from the University of North Texas majoring in Financial Planning. In addition to being a Certified Financial Planner™ Professional, Wes is a Life Underwriters Training Council Fellow (LUTCF). Wes is also an active member of the DFW chapter of the Financial Planning Association.
In his personal life, Wes has raised three children and seen them through college. He has been active in church, school, and professional organizations all his life. Wes enjoys the outdoors participating in backpacking, hunting, fishing, canoeing, and camping. He likes to cook, garden and read. He has a passion for old movies and is a Turner Classic Movie fan.
BA, Risk Management, Insurance, & Financial Services, The University of North Texas
Assets Under Management:
Wes Shannon, CFP
It is called day trading and it is legal. Remember that you usually have to pay someone trading fees so the profit needs to be calculated minus the trading cost. Some discount brokerage firms will charge a flat $4 to $6 per trade. So in your example you would pay $5 for the Sell and $5 for the buy back. So you got to make enough to cover the $10 trading costs.
Studies have shown that day trading does not work for long-term financial goals.
Ask for his ADV-Part 2A and Part 2B, these are required disclosure forms for all RIA's (Registered Investment Advisers). The ADV's will clearly state his/her fiduciary status.
I'm of the opinion that even a 5.75% mortgage rate is low cost money. Over a 100 year period and even during the past 30 years stocks have averaged a 10% annual return and bonds 6%. So if you were to invest 50% in equity funds and 50% in bond funds you would most likely make 8% over the long term and that is an significant improvement over 5.75%. Also an investment portfolio will be less risky than home equity and much more liquid. As your investments grow you could always withdraw to pay off the house if that makes you feel more secure.
No, do not pay off the mortgage. 4% money is inexpensive money. Invest your cash and you should be able to make much more than 4%. Also, you most likely will not stay in that house for the remainder of the mortgage. Keep enough money to pay 6 months of your monthly bills in a money market or savings account as your emergancy fund and then invest the rest.
There are two ways a stockholder can make money. 1) the value of the stock increases over time. This is referred to as appreciation. 2). dividend payments, some companies choose to pay dividends to their shareholders either annually or quarterly. Companies who are in a growth and expansion period will usually not pay dividends because they are using available profits and cash for reinvestment into the company.
Check and see if the company you own stock in is paying dividends. You can check on Yahoo Finance or any other online financial website.