Tax planning should be part of every individual investor’s financial and retirement plan. Here are 7 things to consider as you weigh potential tax moves between now and the end of the year to help you save money: 1. Defer income to next year Consider opportunities to defer income to 2022, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a...
You have done a great job preparing for retirement, but do you understand the risks? Timing is everything, and early market declines at retirement, particularly if they are paired with rising inflation, can significantly reduce the longevity of your retirement nest egg. Learn from Paul Horn, CFP® in this 2-minute BFSG short as he discusses the least understood risk to retirement – sequence risk...
We get it. With so much going on, it can be easy to forget taking your required minimum distribution (RMD). Failing to take the full amount of an RMD could result in a penalty tax of 50% of the difference. When do I need to take them? How much do I need to take? Can I avoid the ordinary income from the RMD? This 3-minute BFSG short with Paul Horn, CFP® gives a high-level overview of the most...
The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2022. While contribution limits are up for workplace plans, contribution limits for Individual Retirement Accounts are stuck at 2019 levels. Inflation means you can—and probably should—contribute more to your workplace retirement account in 2022. Check out the new limits here. Disclosure: BFSG...
In case you missed this week’s BFSG’s Fall Webinar Series, “Estate Planning: Secure Your Legacy”, you can now watch the replay by clicking here. Our guest estate planning attorney, Tamsen Reinheimer, reviewed what are the biggest mistakes people make with their estate plan (hint: doing nothing!) and what new laws may affect your estate plan. Be sure to register for Week 3, Tax Planning:...
Medicare beneficiaries can make new choices and pick plans that work best for them during the annual Medicare Open Enrollment Period. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open Enrollment Period — which begins on October 15 and runs through December 7 — is your opportunity to switch your current...
Source: www.behaviorgap.com By: Michael Allbee, CFP®, Senior Portfolio Manager We sit here today, reflecting on the recent bull market in stocks, bonds, and housing. The Federal Reserve Chairman, Jerome Powell, gave a dovish speech last week and didn’t give a timetable “to take away the punch bowl” and the bull market party continues. As the ex-Citigroup CEO, Chuck Prince, stated, “When...
As life emerges from the pandemic to a "new normal," a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path. Reassess your financial goals At the beginning of the year, you may have set financial goals geared toward improving your financial situation. Perhaps you wanted to save more,...
Back by popular demand….BFSG’s Summer Webinar Series! BFSG is bringing together our CERTIFIED FINANCIAL PLANNERS™ and other subject matter experts in a series of thought-provoking retirement webinars to give you the tools to help you boost your financial literacy and help you make smarter financial decisions. Register today and feel free to share this unique opportunity with friends and family....
BFSG’s Senior Portfolio Manager, Michael Allbee, CFP® and Senior Financial Planner, Paul Horn, CFP®, CPWA®, were invited to be guest speakers for the “It’s Your Money!” workshop series put on by Peter Kote for his not-for-profit Financial & Estate Literacy. These workshops educate seniors to take control of their financial, estate, and charitable giving decisions. You can check out the...
By: Arash Navi, CFP®, CPA It is estimated that half of all children born today in the United States and Europe will reach their Centennial birthday. The number of Americans living past their 90th birthday will triple in the next 30 years. Consequently, it makes sense that the number one worry of retirees is running out of money! Unlike previous generations, many employers don’t offer...
BFSG’s Senior Financial Planner, Paul Horn, CFP®, CPWA®, was invited to be a guest speaker for the “It’s Your Money!” workshop series put on by not-for-profit Financial & Estate Literacy. These workshops educate seniors to take control of their financial, estate, and charitable giving decisions. For this session, Paul focused on two of the most heavily sold products by financial...
First Things First: Build an Emergency Fund Experts agree you should have three to six months of living expenses set aside in a safe, interest-bearing account. What you earn on that money is irrelevant. The main goal or objective of this investment is liquidity. Not having an emergency fund can prove to be a very costly mistake. For example, if you need to replace the brakes in your car, if your...
It is never too late and never too early…take charge of your financial situation! In recognition of April as financial literacy month, we would like to share our webinar series, “Money Mastery” which can be found at https://www.bfsg.com/bfsg-university/ The webinars provide tips on how to build and maintain good credit, understanding your credit score, strategies to pay down debt and overall...
Tailor portfolios to your needs and goals.
Investing and saving wisely is vital to success in retirement.
Navigating the complexities of your financial affairs can be simplified.
Help to increase the amount you “take home”.
Protect your loved ones and make sure your legacy endures.
Simplify the many options and decision points of executive compensation plans.
Confidently plan for your children’s future.
Give in a tax-smart, simple way.
*Please Note: Limitations. The scope of services to be provided depends upon the terms of the engagement, and the specific requests and needs of the client. BFSG does not serve as an attorney, accountant, or insurance agent. BFSG does not prepare legal documents or tax returns, nor does it sell insurance products. Please Also Note: Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by BFSG) or any financial planning or consulting services, will be profitable, equal any historical performance level(s), or prove successful.
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