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Wes Shannon

CFP®, LUTCF
Retirement, Investing, Small Business
90%
Helpful
244
Answers
7
Articles
15
Followers
“Wes has 32 years of experience in the financial services field, and is the founder of SJK Financial Planning, an independent registered investment advisory firm, fee-only practice.”
Firm:

SJK Financial Planning, L.L.C.

Job Title:

Managing Partner

Biography:

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.

 

Education:

BA, Risk Management, Insurance, & Financial Services, The University of North Texas

Assets Under Management:

$12 million

Fee Structure:

Fee-Only
Asset-Based

CRD Number:

1673397

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  • Wes Shannon, CFP
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    Debt, Estate Planning, Investing, Real Estate
Should I pay off a commercial loan principal monthly or invest the extra capital?

This is purely a question of your risk tolerance.  If you pay excess cash on the principal each month you are guaranteed a 4.5% return.  (Notice the word guaranteed.)  Investments are not guaranteed and the greater the amount of risk taken usually the greater potential return you will receive.  Stocks have averaged 10% over the long periods of time (20+ years),  Bonds have averaged 6% over the long periods of time.  You are talking about 7 years.  You might do better than 4.5% or you might not.  It all comes back to your personal tolerance for assuming risk.  Good luck.

I would encourage you to seek out a “Fee only” independent Registered Investment Adviser (RIA).  RIA’s are fiduciaries and will have your best interest at heart.  Find one who is a Certified Financial Planner professional ™ (CFP®).  You can find advisers at the following websites:

National Association of Personal Financial Advisors - https://www.napfa.org/financial-planning/how-to-find-an-advisor

CFP Board - http://www.letsmakeaplan.org/?utm_source=LMAP&utm_medium=header&utm_content=homepage&utm_campaign=header

Financial Planners Association - http://www.plannersearch.org/

January 2019
    Investing, IRAs, Taxes, Income Tax, Tax Deductions / Credits
Does a traditional IRA benefit me more than a regular investment account?
100% of people found this answer helpful
January 2019
    Retirement, IRAs, Stocks, Taxes
If I roll over my private company stock into a Roth IRA, can I make 15 percent of it liquid via a withdrawal?
100% of people found this answer helpful
January 2019
    Personal Finance, Asset Allocation
How do you withdraw money from your portfolio once you're retired?
78% of people found this answer helpful
January 2019
    Financial Planning, Retirement, Social Security, 401(k), Annuities
Should I split my retirement money between an indexed annuity and company 401(k), or invest it all in an annuity?
50% of people found this answer helpful
January 2019