As an independent financial services firm, our priority at Black Financial Services is to serve you and assist in financial planning for you as an individual or business in Minnesota. We focus on helping retirees and pre-retirees build a more comfortable nest egg and achieve long-term financial goals.
Financial planning is our passion. We listen first, getting to know you and your specific situation and providing objective advice to benefit you. You deserve a proactive partner in your financial planning journey.
Benefits Of Financial Planning
Many Americans are not receiving professional help with financial planning. Does this include you and your family? Financial planning is a great way to help gain greater independence for your future, while still living for today.
Meeting with us can be beneficial in a number of ways. First, it will help you define what exactly your financial goals are. This is something many couples don’t realize they aren’t on the same page about until forced to talk about it.
Another benefit of financial planning is helping to ensure your goals are realistic for your timeline. A financial planner can help you determine a plan to help reach your goal, or if your goals need to be adjusted.
Financial planners can also help point out mistakes you might not have noticed in your financial planning. For instance, if you have credit card debt with interest, are you making that interest back on any of your investments, or anywhere near that amount of interest?
Once your financial planning goals are setup, you can actually measure your progress and adjust goals accordingly.
Financial planning also helps you identify benefits and risks which may not have occurred to you. Benefits such as taking advantage of your company’s 401(k) matching or flex spending. Risks may be like calculating your risk of becoming disabled or dying early.
The biggest benefit may be increased confidence in your ability to maintain your standard of living, as well as being more comfortable with your living situation. No one likes uncertainty, and financial planning helps you lay things out and take control of your future.
The Facts About Income Tax
Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.
Life and Death of a Twenty Dollar Bill
How long does a $20 bill last?
The Economic Journey of Your Morning Coffee
Few contemplate the complex journey that brought their coffee from farm to kitchen table.
Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.
China owns a portion of the total outstanding debt of the U.S. Government. What does it mean?
When considering life insurance, it's important to understand your options.
Here's a look at several birthdays and “half-birthdays” that have implications regarding your retirement income.
Here are several important changes to Social Security that may impact how and when you can begin taking income benefits.
Looking forward to retirement? It's critical to understand the difference between immediate and deferred annuities.
This calculator can help determine whether it makes sense to refinance your mortgage.
This calculator compares employee contributions to a Roth 401(k) and a traditional 401(k).
This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.
With a few simple inputs you can estimate how much of a mortgage you may be able to obtain.
Estimate the total cost in today's dollars of various mortgage alternatives.
Determine your potential long-term care needs and how long your current assets might last.
How federal estate taxes work, plus estate management documents and tactics.
The chances of needing long-term care, its cost, and strategies for covering that cost.
There are some smart strategies that may help you pursue your investment objectives
A number of questions and concerns need to be addressed to help you better prepare for retirement living.
The importance of life insurance, how it works, and how much coverage you need.
There are a number of ways to withdraw money from a qualified retirement plan.
Do you have causes that you want to support with donations? Here are three tips.
Even low inflation rates can pose a threat to investment returns.
A special needs trust helps care for a special needs child when you’re gone.
Making the most of surprises is a great reason to work with us.
Have you explored all your options when it comes to managing your taxable income?
Do you know how long it may take for your investments to double in value? The Rule of 72 is a quick way to figure it out.