BFSG Blog

Financial Resources & News

Important Medi-Cal Changes Effective in 2024

As we wrap up 2023, it’s important to be introspective and think about what’s on the horizon for 2024. If your brain associated “2024” with “the November 2024 US presidential election”, don’t worry. I’m not going to be discussing that because I don’t want to go down that rabbit hole and I’m in a good mood today. What I do want your mind to associate “2024” with is the positive change to Medi-Cal...

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A Changing Landscape: California Home Insurance

As wildfires in California become more frequent and intense, considering the need for wildfire insurance has never been more important. For homeowners and residents in high-risk areas, understanding how this insurance works is crucial to safeguarding your real estate investment and for peace of mind. The Basics Most standard homeowner's insurance policies include coverage for fire damage,...

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It’s Your Money Financial & Estate Literacy – “Investment World” Replay (2023)

BFSG’s CERTIFIED FINANCIAL PLANNER™ professionals, Michael Allbee, CFP® and Paul Horn, CFP®, CPWA®, were invited to be guest speakers for the “It’s Your Money!” workshop series. For the “Investment World” session, Mike and Paul focused on how the investment world gets compensated. Learn the differences between brokers versus advisors, what does the word “fiduciary” mean, how to find an advisor,...

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Asset Protection through Umbrella Insurance and LLCs

If you are in the minority of Americans who are contemplating purchasing another home as a rental property or already own a rental property, you are probably doing fairly well in life to be in that position. Without running the numbers on your financial situation, the main question that we hope that you have the answer to is, “What happens to me financially if someone sues me?”. If your answer...

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Financial Misadvise: Common mistakes and assumptions made by Financial Advisors (Part 4: Annuities)

(This is the fourth article in a four-part series. Click here to read Part 1, Part 2, and Part 3.) By:  Henry VanBuskirk, CFP®, Wealth Manager Everyone’s had that story of their friend or family member that said they got shafted by some seedy financial advisor. However, there is a huge difference between what is legal and what is ethical. The majority of these “seedy” financial advisors are...

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Don’t be Sold Insurance

By:  Paul Horn, CFP®, CPWA®, Senior Financial Planner At one point in my professional career, I sold insurance policies. I always joked that though I was raised a gentleman, I had to ask women the two things you are never supposed to ask, “How old are you?” and “What is your weight?” Luckily, we do not sell insurance at BFSG, which has saved me from having more of these awkward...

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Mid-Year is a Good Time for a Financial Checkup

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,...

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LLC and Umbrella Policies for Rental Properties

One of the most common questions people ask is why they need (or what is the best) to use an LLC or umbrella coverage if they own rentals. If you are sued, you will want to have some form of protection to make sure your other assets like your primary residence and retirement accounts are safe. This is an important part of planning when you have rental property but unfortunately is often...

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