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Joe Jaspers, CFP®
Vice President, Wealth Management
Carolinas Telco Capital Advisors
Located at Carolinas Telco FCU
9813 South Blvd, Suite 101
Charlotte, NC 28273
Phone: 704-391-5600
Toll Free: 800-622-5305, ext. 2608
Fax: 704-556-1652
Email: joe.jaspers@lpl.com
July/August 2019
Leaving the Nest
When young adults leave the nest, they will confront a number of financial challenges for the first time in their lives, but there are some things they can do to help ensure a successful experience.
Good Debt Management
Credit cards are not free money, and balances often come with high interest rates. Have a plan for when you will use the credit card. For example, a card is great for an emergency, but not for eating out or spring break trips. Financially savvy students live within their means. Paying any balance in full each month will keep the interest charges at bay and help build a good credit rating.Get Insurance
If you are living in a dorm or apartment, be sure to carry renters’ insurance, which will protect your belongings against theft, fire and other perils. You’ll also need health insurance and auto insurance, if you have a car.Minimize College Debt
You may not be able to avoid student loans completely but do everything you can to find alternative funding. Submit your FAFSA as soon as possible, apply for scholarships and grants, work part-time, become a student aid or residential assistant. Get an internship that pays. If you do have to resort to a student loan, apply for federal loans, which offer the ability to defer if you lose your job, go back to school as well as some income-based repayment plans that private loans do not provide.Becoming a responsible adult at a young age will help you to build a secure financial future.
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:
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