It is no secret that both Social Security and Medicare are underfunded, and changes are needed. This is a common concern that we hear from many clients approaching retirement. These programs are vital to retirees and it is clear that President Biden has some clear plans to help these programs remain solvent and also provide some benefit expansions. Social Security During his campaign, President...
“How do I get rich?” This is one of the most common questions we get from friends, family, and clients. There is no set definition of ‘being rich’. There is not a one-size-fits-all solution. Everyone has a different situation and financial goal. Also, it is important to mention that becoming rich or building wealth takes time - it is not an overnight process. Well…unless you win the lottery. But...
Everyone wants financial security. But women often face unique obstacles that can affect their ability to achieve it. Let's look at some of these potential headwinds. Women have longer life expectancies. Women, on average, live 5 years longer than men (1). A longer life expectancy presents several financial challenges for women: Women will need to stretch their retirement dollars...
If you would like to revisit any portion of the BFSG presentation hosted by Melinda Dransfield, it is now available On Demand by clicking here (while complimentary, registration is required for On-Demand viewing as well). During the webinar, Melinda explains the key principles of positive psychology and that happiness is a choice. We hope to see you next week for the 2nd installment in BFSG's...
Few things are more difficult to watch than a loved one suffer from memory impairment and watch them slowly drift away. During this time emotions are raw, and it is imperative we show compassion to those that are dealing with memory impairment. Things You Should Not Do: Don’t try to do this on your own!Don’t think you are alone in this!Don’t try to reason with them!Don’t argue or be...
You are not responsible for your future spouse's bad credit or debt, unless you choose to take it on by getting a loan together to pay off the debt. However, your future spouse's credit problems can prevent you from getting credit as a couple after you're married. Even if you've had spotless credit, you may be turned down for credit cards or loans that you apply for together if your spouse has...
As CERTIFIED FINANCIAL PLANNER™ professionals, we get to discuss everyone's two favorite topics, death and taxes. The reality is that no one wants to discuss their death and this is the greatest hurdle to overcome and the reason so many people do not have an estate plan. Below are some other common roadblocks that can reduce the quality of your estate plan. 1. Not Discussing Finances with Your...
Over the years there have been many studies on the wealthy to find what habits they share. This is important because the reality is our habits shape us and impact our health, wealth, and happiness. Let us explore just a few of the most common habits that have to lead many individuals to become self-made millionaires: 1. They do not follow the crowd – Often these individuals are independent,...
California is about to go through a dramatic change to real estate and property tax assessments with Proposition 19 (Prop 19) going into effect on February 16, 2021. Prop 19 replaces Proposition 58 (Prop 58), which has provided a favorable transfer of real estate from parent to child. It is important to understand these changes to see if you need to make any immediate changes to your real estate...
Maybe you plan to start 2021 on the right foot by creating a resolution and sticking to it. Some of the most common resolutions each year include quitting smoking, losing weight, paying down debt, saving more, or maybe it is just to be happier. We know it is all too uncommon for people to have the best of intentions but not stick to their goals. If you go to any gym early in the year, you see...
The window of opportunity for many tax-saving moves closes on December 31, so it is important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2020 tax year. Timing is Everything Consider any opportunities you have to defer income to 2021. For example, you may be able to defer a year-end bonus or delay the collection of business debts, rents, and...
Year-end is fast approaching, and it is important to make sure that you are maximizing your employer benefits. Typically, many benefits reset at the end of each year, so here are some benefits to review before year-end to make sure you get the benefits you deserve. 1. Review Health and Dental benefits If you have not done so, make appointments for annual checkups by year-end. For medical, this...
The families of military members face challenges of their own during the member’s time of service and the federal government recognizes the hard work that goes into being part of a military family (and we do too). If you are saving for college or retirement, buying a home, or wondering how to help secure your family's financial future, don't overlook these five important benefits for military...
Like most kids growing up, you probably took a daily vitamin whether it was the gummy or Flintstone variant. As adults, however, we get so busy and are often not as good about taking care of ourselves. One of the most overlooked vitamins is vitamin D and it happens to be one that our body naturally produces by getting exposure to direct sunlight. Let's take a look at three benefits of getting...
We have spoken about the speculation in the markets (watch the Coffee with Dr. Steve – The Time Tunnel we posted in August) and others have pointed out how inexperience can lead to staggering losses (read the New York Times article published in July on this topic). However, speculators continue to pile into the stock market with retail brokerage firms Robinhood, TD Ameritrade (now owned by...
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.
California Office (Headquarters)
Wealth Management & Institutional Services
2040 Main Street, Suite 720, Irvine, CA 92614
Arizona Office
Wealth Management
1643 E. Bethany Home Road, Phoenix, AZ 85016
