Congress recently passed – and the President signed into law – the SECURE Act, landmark legislation that may affect how you plan for your retirement. Many of the provisions go into effect in 2020, which means now is the time to consider how these new rules may affect your tax and retirement-planning situation. Here is ...
Education
Data or Relationships
Wow, what a harrowing swing we have seen in the stock and bond markets of late. Asset allocation, which reduces the downside risk of investing, provided no safety in the July to August market correction. All major equity indices were down at least 10% from their earlier market peaks. Why? We are seeing a realization [&hel...
Not Planning Can Be Costly
Education planning has become even more crucial to many families over the past few years, mainly because the cost of a good education has grown dramatically faster than the overall rate of inflation. Some experts predict that, if your child is born today, you may need more than a quarter million dollars in savings to [&hel...
Stress and Taxes
April is one of the most stressful months of the year for many Americans. Submitting your tax return is easier than ever, thanks to innovative software and electronic tax filing. However, this also means that more of us are putting off filing our taxes until the last minute. Neglecting your long term income tax planning [&hel...
Have You Planned
A recent survey of Americans showed that most of us – especially those of us who have not yet reached our fiftieth birthdays – put off retirement planning, for a variety of reasons. Many of us feel that retirement is too far off to start thinking about. Some Americans think that retirement planning makes them [&hel...
The Battle Has Been Won but What About the War
At BFS, we have built our practice and more importantly, our reputation, by putting client interests first. We have built nice careers from serving our clients without conflicts of interest. Does everyone in my profession practicing as a CPA or CFP® work this way? How about a broker or an insurance agent? No. Do some [&hel...
Starting a Family Overview
Starting a family can be one of the most rewarding experiences in life. It can also be one of the most costly. On average, American families spend $250,000 raising a child. That equals $13,888 per year over an eighteen-year pe...
Small Business Financial Planning Overview
The Small Business Act defines a small business as “one that is independently owned and operated and which is not dominant in its field of operation.” Starting a small business is an exciting prospect that offers incredible opportunities for independence and unlimited financial gr...
Retirement Planning Overview
Most agree Social Security is a looming problem. According to President Bush, by the year 2042, the Social Security Administration will no longer have the available funds to fulfill its benefit obliga...
