Entries by bfsadmin

Avoiding the Common 1040 Mistakes

Don’t let these slip-ups creep into your federal tax return.    No one wants to delay their federal tax refund. As you certainly don’t, filling out your 1040 form correctly is essential. To that end, it is worth noting some of the common 1040 mistakes – the little slip-ups that aggravate both the IRS and […]

One Couple, Two Different Retirements?

After many years together, some retired spouses may find their daily routines far apart.   When you see online ads or TV commercials about retirement planning, do they ever show baby boomer couples arguing? No. After all, retirement planning is about the pursuit of a happy outcome – a fun and emotionally rewarding “second act” […]

Before You Claim Social Security

A few things you may want to think about before filing for benefits. Determining when to take Social Security benefits is a complicated financial decision. Here are a few things to think about and discuss with your financial professional. How long do you think you will live? If you have a family history that suggests […]

Retirement Blindspots

Some life & financial factors that can be overlooked.   We all have a “blue sky” vision of the way retirement should be, yet it helps to plan for retirement with a little pragmatism. Fate may alter the course of our retirement in ways we do not currently anticipate. So, as we plan for the […]

Getting (Mentally) Ready to Retire

Even those who have saved millions must prepare for a lifestyle adjustment.   A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of drawing down their savings too fast. How can new retirees try to calm these worries? Two […]

Smart Financial Moves in Your 20s, 30s, 40s & 50s

What might you think of doing when?    If you had a timeline of the financial steps you should probably take in life, what would it look like? Answers to that question will vary, but certain times of life do call for certain financial moves. Some should be made out of caution, others out of […]

How Long Do You Have To Keep Your Statements?

A year? Seven years? It depends.   “You should retain copies of your federal tax returns for 7 years.” Is that true, or a myth? How long should you keep those quarterly and annual statements you get about your investment accounts? And how long should you keep bank statements before throwing them away? Your age, […]

Is There Such A Thing As “Good Debt?”

Actually, there is! But what is it? I won’t lie … having a never-ending supply of cash that would allow me to buy whatever I wanted to would be lovely. It would definitely be better than incurring debt. But until and unless you find a way to have a never-ending supply of cash, debt is […]

Five Savings Secrets

How to potentially increase your savings, without significantly lowering your quality of life. What’s the problem? In general, when it comes to a lack of savings, it is often not a question of low income, but a matter of high spending. While it’s very true that often we’re put into situations where we must spend […]

Gauging Your Financial Well-Being

Six signs that you are in good shape. How well off do you think you are financially? If your career or life takes an unexpected turn, would your finances hold up? What do you think will become of the money you’ve made and saved when you are gone? These are major questions, and most people […]