You’ve heard it, millennials are cutting the cord and not purchasing traditional cable TV services. This is not a trendy and rebellious act; it’s a smart and fiscally responsible decision.  
We’ve been discussing this with our clients for the last 12 months and realized that it’s completely common to have a cable TV and internet bill that exceeds $200 per month. On average, our clients who cut cable are saving $100 or more on their monthly TV / Internet Service. Over the course of a 30 year career, $100 invested at an 8% rate of return equates to approximately $149,000. The monthly savings can be invested for your retirement, used to establish college savings accounts for children or grandchildren, and a variety of other goals. The long-term financial impacts of continuing to pay these bills is astonishing, especially when most consumers only watch a few select channels, many of which are free with the proper equipment.
Here’s the recipe:

1.     Internet only . It is possible to have internet only packages for less than $50 per month that are plenty fast for most consumers.

2.     Antenna - we like the Mohu Leaf. This little antenna can be hung in a window and will pick up your favorite local channels and some channels you didn’t know existed.

3.     Live Streaming TV Service - this market is becoming pretty competitive and there are a few major players. Check out the following providers and determine which service provides your channels:
a.     Sling TV
b.     YouTube TV
c.     Hulu with Live TV
d.     DirecTV Now
4.     On Demand Content - Netflix and Hulu are both great for on demand content. In addition, the live streaming TV services may also provide some additional on demand content. 
Internet: $50 per month
Antenna: $0 per month
Live Streaming Service: $40 per month
Optional On Demand Content: Netflix Premium $13.99
Optional On Demand Content: Hulu No Commercials (not necessary if you subscribe to Hulu with Live TV) $11.99

Total Cost : $115.98
Reduced Cost with Internet, Sling TV, Hulu with Limited Commercials and Basic Netflix: $90.98
In addition to the monthly savings, these services are contract fee which means you can switch and cancel at any time. You can also take these services outside your house! 
About Mason & Associates
Mason & Associates, LLC is an independent financial planning firm located in Newport News, Virginia. With over 50 years of combined experience, Michael and his brother, Kenneth, have built a successful practice, offering comprehensive financial planning to all types of employees, with specialized knowledge of Federal benefits. Our success has created the opportunity to expand our practice to include members of the Armed Forces, Virginia State Employees (VRS), Huntington Ingalls Industries personnel, and all private sector employees. We know that the cornerstone of a solid financial plan is a complete understanding of a client’s employer-sponsored benefits package. With this knowledge, we can help clients complement their benefits with private plans.

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Michael R. Mason, CFP®, CLU®, ChFC®, Kenneth T. Mason, RICP®, and John M. Mason, CFP® offer securities & advisory services through Centaurus Financial, Inc., Member FINRA and SIPC, a Registered Investment Advisor. Mason & Associates, LLC and Centaurus Financial, Inc. are not affiliated companies. This is not an offer to sell securities, which may be done only after proper delivery of a prospectus and client suitability is reviewed and determined. Information relating to securities is intended for use by individuals residing in the following states: Arizona, California, Colorado, Florida, Indiana, Maryland, North Carolina, and Virginia.
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