image

Jim BlankenshipCFP®

We are a fee-only financial planning practice, providing financial advice by the hour to folks from all walks of life.

New Berlin, IL
President, Blankenship Financial Planning, Ltd.
Fee Structures: Asset-based, Fee-only, Hourly

This describes how advisors are compensated for their work. Learn more in our Guide to Advisor Compensation
Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
1
answers
485
profile views

2 people found Jim's answers helpful

Answers

Filter by Topic
  • 2 out of 4 people found this answer helpful

    I've heard the stock market is hitting record highs. What does that mean for my 401k?

    Retirement Savings, Investing, Retirement, 401(k)

    Unless you're retired or just about ready to retire, this should mean nothing to your 401(k), other than

    more »

    Unless you're retired or just about ready to retire, this should mean nothing to your 401(k), other than that you may see a higher balance in your 3rd quarter statement as a result of the recent increases.

    Short-term fluctuations occur all the time in the stock market, and they have little if anything to do with your investment strategy - especially if you have a long-term objective for the investments.  Under the assumption that your 401(k) is to provide you with funds to live on in your retirement, this means that you need to plan your strategy to provide for growth over 30+ years from the date you retire.  

    Reacting to short-term activities (record highs in the stock market, 10% corrections, etc.) will not improve your long-term investment results.  Choosing an appropriate asset mix for your risk tolerance and then sticking with your investment plan through thick and thin will yield the best possible results for you.

    On the other hand, if you're retired now or just about to retire, you should not have the money that you need to live on (for the next 2-3 years, for example) invested in the stock market and thus subject to risk.  Set aside the funds that you'll need to draw on in a safe place, such as a money market account. Then the remainder of your nest egg has time to weather any adverse activity in the market, and you'll be able to sleep at night and ignore the financial headlines.

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
    • Embed ›
    • 339 views

About

Jim Blankenship is the founder and principal of Blankenship Financial Planning, Ltd., a financial planning firm providing hourly, as-needed financial planning and advice. A financial services professional for over 25 years, Jim is a CFP® professional and has earned the Enrolled Agent (EA) designation. Jim is also a NAPFA-registered financial advisor, which designates him as a Fee-Only Financial Advisor.

Prior to establishing his independent firm, Jim operated a successful tax preparation service; he also managed information technology operations for a major financial services corporation. Jim is a member of the Garrett Planning Network, a nationwide network of fee-only advisors, founded by nationally-known Sheryl Garrett.

Jim got into this business when his search for an objective financial advisor proved fruitless. It turns out that there were no objective financial advisors in Central Illinois who were willing to work with someone of modest means. Always a do-it-yourselfer, Jim began working to expand his knowledge in order to manage his own finances. As the quest for knowledge evolved, he discovered that he was not alone in the search for objective financial advice — many others want and need the same kind of objectivity and knowledge that he was developing — so Blankenship Financial Planning was launched.

You’ll find Jim’s writings all around the internet, as he is a regular contributor to Forbes.com,TheStreet.com, and FiGuide. Several other sites also republish his work.

He has also written An IRA Owner’s Manual and A Social Security Owner’s Manual – both books provide comprehensive guides to these vexing subjects.

Jim believes that professional, unbiased financial advice is something that all Americans need, at least periodically, to build the brightest financial futures. Holding to this philosophy, Jim is proud to offer high quality, professional financial advice to people from all walks of life.


Details

Contact Info
View contact info »
Email
jim@blankenshipfinancial.com
Phone
217-488-6473
Web
I am available for web conferencing
Address
116 West Illinois Street
New BerlinIL 62670
Firm Website
Focus Areas
Retirement, Investing, Taxes
Client Specializations
People near retirement, Educators, Public Employees
Education
BS, Computer Sciences, Eureka College (Illinois)
Registrations
Individual CRD #4638986
Regulatory Records
Please visit FINRA's website to review Jim's records
While designations are not everything when selecting a financial advisor, they often indicate a certain level of knowledge related to a specific field and/or commitment to certain ethical and professional standards. Please see our detailed Guide to Financial Advisor Designations for more information.
Designations
CFP®, EA

*Financial Advisor Disclaimer:

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).

Add Video

Upload

Add Video

100%

Please wait while your file is being uploaded.

Add Video

How to Save for a Mortgage

Video Uploaded

Add Another I'm Done

Preview Video

×

*Disclaimer: We try to keep information accurate and up to date, however we cannot make warranties regarding the accuracy of our information. Please verify FDIC Insurance / NCUA Insurance status, credit card information, and interest rates during the application process. Please note that NerdWallet has financial relationships with some of the merchants mentioned here. NerdWallet may be compensated if consumers choose to utilize the links located throughout the content on this site and generate sales for the said merchant.

© Copyright 2014 NerdWallet, Inc. All Rights Reserved. Privacy Policy|Terms of Use
Nerdwallet, Inc. is a BBB Accredited Financial Service in San Francisco, CA