BFSG Blog

Financial Resources & News

Chad Noorani Selected as one of NAPA’s 2023 “Aces”

Congratulations Chad Noorani, QKA for being selected again to NAPA’s 2023 “Aces”: Top 100 Retirement Plan Advisors Under 40. Established in 2014, the list of "Aces" - our Top Young Retirement Plan Advisors - is drawn from nominations provided by NAPA Broker-Dealer/RIA Firm Partners, vetted by a blue-ribbon panel of senior advisor industry experts based on a combination of quantitative and...

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Types of Investment Accounts for each Stage of Life

By:  Henry VanBuskirk, CFP®, Wealth Manager Investing is a broad concept that has a wide array of definitions that differ depending on whom you ask.  If you ask a recent college graduate, parents in their early 40s with two young children, and an elderly retired couple to define what investing means to them, you will probably get three wildly different answers. They all have different...

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Business Owner Year-End Tax Planning

By:  Michael Allbee, CFP®, Senior Portfolio Manager There are many tax strategies available for business owners, but it requires proper planning throughout the year. Here are some things to consider as we approach the year-end to minimize your tax liability. Take advantage of the expiring “Tax Cuts and Jobs Act” (TCJA) bonus depreciation In 2017, the TCJA made it so business owners could...

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Are You Mentally and Emotionally Ready to Retire?

By:  Paul Horn, CFP®, CPWA®, Senior Financial Planner Most people look forward to the day that they can have independence and no longer have to work 9 - 5. In my experience, while everyone wants to retire, most are truly not ready to retire. I am not referring to having the financial ability to retire but most are not emotionally ready for retirement. Retiring before you are emotionally ready...

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Happy National 401(k) Day!

Contributing to your 401(k) may help you build retirement savings over time - without impacting your take-home pay as much as you may think. Consider the hypothetical example below, which shows how a 2% increase in pre-tax contributions could potentially cost you only $30 per paycheck. Source: Schwab Retirement Plan Services* Want to learn more about saving for retirement? Visit BFSG University...

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Tax Planning Strategies to Reduce Your Tax Burden Now (2022 Update)

By:  Arash Navi, CFP®, CPA, Controller & Wealth Manager Our goal is to help our clients build and grow their wealth and tax planning plays an important role in this process. We recommend that you mark your calendar to review your finances in the first week of October, annually. Take this time to review your income for the year from employment, businesses, investments, or any other...

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Upcoming Webinar (July 26th): Retirement Plan Basics

Learn how to prepare for retirement by learning the basics of your retirement plan. Why save in your retirement plan? How to invest in your retirement plan? What to do with your retirement plan after you retire? Get these questions answered and more. Come join the conversation with Tina Schackman, CFA®, CFP® and Keith Johnson, CFP® of BFSG. Register today for this important discussion! Click...

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Can the IRS waive the 60-day IRA rollover deadline?

Remember, you can make only one tax-free, 60-day rollover from any IRA you own (traditional or Roth) to any other IRA you own in any 12-month period, regardless of the number of IRAs you own. This limit does not apply to direct rollovers or trustee-to-trustee transfers or to Roth IRA conversions. While it may be tempting to give yourself a free 60-day loan, there's no need to taunt the rollover...

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What is the Roth 5-Year Rule?

Actually, there are three five-year rules you need to know about. The first five-year rule determines when you can begin receiving tax-free qualified distributions from your Roth IRA.  Withdrawals from your Roth IRA — including both your contributions and any investment earnings — are completely tax- and penalty-free if you satisfy a five-year holding period and one of the following...

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What Business Owners Must Know About CalSavers as the Deadline Approaches

California is among the first states in the nation to design a “state-run” retirement program enacted by the CalSavers Retirement Savings Trust Act. Any business with more than 5 employees that does not have a current employer-sponsored retirement plan MUST enroll in the program by the following dates: September 30, 2020, for businesses with 101+ or more employees*June 30, 2021, for businesses...

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The Rule of 55

What is the rule of 55? How does it work? Are there any catches? The rule of 55 allows those looking to retire earlier than normal or those who need the cash flow, a way to take distributions from their retirement plans sooner than is typically allowed. This quick 3-minute video gives the details with BFSG's own, Tina Schackman, CFA®, CFP®. Watch here for more. Disclosure: BFSG does not make any...

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Tax Planning Strategies to Reduce Your Tax Burden Now

By:  Arash Navi, CFP®, CPA, Controller & Wealth Manager Our goal is to help our clients build and grow their wealth and tax planning plays an important role in this process. We recommend that you mark your calendar to review your finances in the first week of October, annually. Take this time to review your income for the year from employment, businesses, investments, or any other sources....

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NAPA’s 2022 Top Young Retirement Plan Advisors

BFSG is pleased to announce the nominations of 3 of our own to NAPA’s 2022 Top Young Retirement Plan Advisors list.  We are so proud of @Darren Stewart, @Chad Noorani, and @Braden Priest for their dedication to serving retirement plan fiduciaries and being part of our amazing team!  Vote now by clicking here. Disclaimer: Awards and recognitions by unaffiliated rating services, companies, and/or...

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Summer Webinar Series Replays Available

Our BFSG Summer Webinar Series is now available to watch on our YouTube channel “BFSG University”. This Summer Webinar Series focused on #retirementplanning around the following topics: Retirement Q&A: Ask the Experts – Hear the Certified Financial Planner™ professionals at BFSG answer #retirement related questions.Retirement Accounts: Traditional vs. Roth – Learn the typical ways to save in...

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How Are Workers Preparing for Retirement?

By:  Tina Schackman, CFA®, Senior Retirement Plan Consultant According to a 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), U.S. workers preparing for retirement vary by age but there are signs that savings habits are starting to take place earlier than previously reported. In fact, 48% of respondents between the ages of 25 and 34 reported having savings...

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