By one estimate, U.S. landlords were owed about $57 billion in unpaid back rent at the beginning of 2021. The average household that fell behind owed about four months of rent, or $5,600. Altogether, more than 10 million U.S. families were facing the possibility of eviction.1 Many landlords, including those who depend on rent payments for retirement income, have experienced financial...
Last month was an interesting month for the markets and below is the economic summary for May. As always, if you have any questions or want to discuss more in-depth do not hesitate to give us a call! Sources: Sources: J.P. Morgan Asset Management – Economic Update; Bureau of Economic Analysis (www.bea.gov); Bureau of Labor Statistics (www.bls.gov); Federal Open Market Committee...
“Our nation owes a debt to its fallen heroes that we can never fully repay.” – President Barack Obama Thank you to the brave men and women who have made the ultimate sacrifice for our freedom and join us as we remember and honor our nation’s heroes on Memorial Day. Today reminds us that legacies matter. Not only to our friends and our families, but also our communities and society writ large....
CPI Treemap: Area Represents Weight in Index, Color Represents % Change Year-Over-Year (Source: Payden&Rygel) By: Thomas Steffanci, PhD, Benefit Financial Services Group The past two weeks saw some eye-popping inflation readings. The consumer price index (CPI) for April came in at 4.2% year-over-year (YoY), but a surprisingly large 0.8% month-over-month (MoM) gain. The producer price index...
BFSG’s Senior Portfolio Manager, Michael Allbee, CFP® 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, Mike discusses stock terminology, the importance of diversification, market...
Please join us in welcoming Andrew Donahue to Benefit Financial Services Group. Andrew joins BFSG as a Wealth Manager and Financial Planner. Prior to a career in portfolio and wealth management, Andrew served as a congressional aide on Capitol Hill and held various senior roles as a health care administrator (hospitals and physician practices). We are very excited to have him on the BFSG team!
The American Rescue Plan Act of 2021 makes substantial, temporary improvements to the child tax credit for 2021, which may increase the amount you might receive. If you have qualifying children under the age of 18, you may be able to claim a child tax credit starting on July 15th. You may also be able to claim a partial credit for certain other dependents who are not qualifying children. But the...
Since the pandemic started last year people have had to make major life changes. Many people are now working from home and may not be aware that they are working more hours. The combination of increased workloads and the pandemic has led to employees feeling increased stress. Here are 6 ways to effectively reduce stress… 1. Prioritize life – Having a to-do list is important but is often...
For many families, saving for kids’ education has become a priority and for a good reason. The average tuition for the 2021 school year ranged from approximately $11,000 (for in-state colleges) to over $41,000 (for private colleges)1. That is approximately 2.5 times what the cost was in the early 2000s, so it would be fair to expect this cost to be substantially higher in the future. For those...
Last month was very good for the markets and below is the economic summary for April. As always, if you have any questions or want to discuss more in-depth do not hesitate to give us a call! Sources: Sources: J.P. Morgan Asset Management – Economic Update; Bureau of Economic Analysis (www.bea.gov); Bureau of Labor Statistics (www.bls.gov); Federal Open Market Committee...
President Biden recently announced his $1.8 trillion plan (American Families Plan) for new benefit spending and increased taxes. Please keep in mind that this is the first iteration. We expect to see new items added and changes made as the proposal advances through Congress. Below is a summary to understand the proposed changes. Capital Gains Tax Right now, depending on your taxable income,...
The Agnew Clinic, an 1889 painting by Thomas Eakins.* Author: Andrew Donahue, CFP® Some of our clients are the best physician anesthesiologists in medicine. They also make for some of our best wealth accumulators. Here are eight reasons why. 1. They understand the importance of takeoff and landing. For many physician anesthesiologists, their money is made when they start and when they finish...
It is amazing how long people are living and the wonderful quality of life they live. We had a client that was 93 and was a fantasy football fanatic. Another client was 94 and still playing tennis and golf. We have a client over 100 and she is still sharp as a tack. We are blessed to be able to live long and fulfilling lives these days. Longevity is a real blessing but does not come without some...
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...
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
