Charleston Financial Advisor | Coastal Wealth Advisors

Living On A Budget

May 1, 2015 by Justin M. Follmer, MBA, AIF®

Living on a budget doesn’t mean eating Ramen noodles. A well defined, planned, and tailored budget is your way of navigating your financial life. But don’t just list your income and expenses in a boring format. Add cool line-items, pictures, and animation in there that are fun and unique to you. We’ve helped clients build budgets that include items like “ef it all, I want that!” and “future wife expense” among others. Don’t make budgeting into this giant mountain when it’s really a mole hill. And budgeting isn’t just for your parents, think of it as the reason they have money. Living on a budget is simply a structure for where you’re going to spend your money next month – if it’s spent on gourmet dining, so be it, just budget for you.

Need some guidance and help putting your budget together? Get in touch with us. We love putting together unique things.

Johns Island Financial Advisor Office

April 27, 2015 by Justin M. Follmer, MBA, AIF®

Most people don’t like talking about the things we as financial advisors talk about. Topics of death, health, money, debt are all routine and normal discussions at our Johns Island Financial Advisor office; just like when you talk with your spouse about dinner, the kids, that new bag you want, or this weekend’s house project. Nothing here is off limits. And we don’t judge.

So when I sat down to design the layout and feel of our space, I knew it had to be different. Just as we are unique, our office would have to be as well. I started my Johns Island Financial Advisor firm Coastal Wealth Advisors with a vision of creating a unique meeting space that was welcoming, different, and relaxing. I didn’t want the traditional boardroom conference table, stuffy leather chairs, outdated projector, and large, mismatched metal filing cabinets to be the backdrop of the highly personal and sensitive types of conversations we have as par for the course in the financial planning and investment advice business.

And what better way to develop ideas than by browsing Pinterest.

I already knew the color palette from my logo designer Scotti Cline Designs. I also knew I wanted a rustic modern industrial appeal (still not sure if rustic modern industrial is a thing – but if it’s not, it is now.) This meant reclaimed wood, the look of wrought iron, linen, a few coastal touches, bright and dark in harmonious attraction, the convenience of the latest technology, with the comforts of a living room.

And I think I pulled it off.

Here’s my starting canvas, terrible purple and all:

I wanted a lounge area for financial planning discussions; the first step of Our Process. Driftwood fish, local Charleston photography, book shelves complete with Coastal Wealth’s Reading List, wrought iron and reclaimed wood coffee table, local Charleston coasters, and linen couch. Real plants. Nautical knot door stopper.

Pub Table for paperwork and financial planning review. Wrought iron bar stools and TV console. Lots of windows for natural light. Wall color is Retiring Blue; fitting for a retirement planner.

Pull up a chair and a pillow. Grab a book. Let’s start a conversation. What are your financial goals and dreams? What are you afraid of?

I had to find a way to tie the driftwood and industrial feel into the design. So I #manterest the wood wall from various posts I found. Process began with 1×4 spruce furring strips at Lowes. A little paint of various color palette shades here and there, let dry, then sand to allow wood grain to show through, followed by a medium-colored stain. Viola!

I’m very pleased with the outcome and the overall design of the space. I hope it’s an inspiration to you. You can take something rough, unkempt, and non-existent and with a plan, some hard work, and some help, turn it into something beneficial, pleasing, and exciting. I believe this is also true with financial advice. What can seem overwhelming and unorganized can quickly become the opposite with a financial plan and some investment help. That’s what we do and we believe we do it well. Stop by our office to check out the space and while you’re here, let’s start a conversation.

Financial Rules of Thumb

April 3, 2015 by Justin M. Follmer, MBA, AIF®

Food for Thought

March 31, 2015 by Justin M. Follmer, MBA, AIF®

Robert Frost and Your Money.

March 26, 2015 by Justin M. Follmer, MBA, AIF®

What the heck does Robert Frost have to do with your money?

We’ve all heard some variation of Robert Frost’s iconic poem, The Road Not Taken. And I often find myself hearing it recited incorrectly and not wanting to be that person, I usually refrain from offering my correction.

And so here is the part that one typically hears:

Two roads diverged in a wood, and I—

I took the one less traveled by,

And that has made all the difference.

But this is the end of the poem. Not the beginning nor the dilemma he faced that morning. It can be inferred that Mr. Frost came upon a fork in the path he was walking on. And so he had to choose which path he wanted to travel down. Was it the one that curved down by the “undergrowth?” Or does he choose the one that was overgrown and clearly not taken that often? He decides to choose the latter “because it was grassy and wanted wear.” But this didn’t cause him to think about taking the former path another day…yet he knew that one path typically leads to another and then another and that going back to the original path is unlikely.

Don’t we all face similar dilemmas with our lives? We make hundreds of decisions every single day. And do we typically choose the option that is the quickest and usually the safest route? Think about Mr. Frost’s options that morning. Does he choose the path that’s been travelled before? Is that path safer since others have chosen that path before? Is that path chosen because it’s quicker? We can’t be certain; all we know is that Mr. Frost did not choose it.

What about our decisions with money? Are there also many paths to choose on our financial journey? I would argue that there are an unlimited number of paths with which to choose from. And not all are the paths you want to take.

We each approach our wallets differently. We work for a paycheck that allows us to pay bills and finance a lifestyle that fits who we are as individuals. Some lifestyles more expensive than others; neither right or wrong. Just different. And so too should your decisions about money be different. What worked for your parents may or may not work for you. What makes financial sense for your neighbor may or may not work for you. Keep this in mind – you are going to go somewhere with your money. But will it be where you want to go?

If you choose to travel down a different financial path – perhaps “one that is less traveled by,” you can find a financial partner to help you along the way. That’s what we do at Coastal Wealth Advisors. We work with unique individuals like yourself in helping them choose the journey that makes the most sense for them. Our goal is simply for you to believe that your decision to hire us is one “that has made all the difference.”

Image Credit: Simon G

Let’s start your conversation.