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 work towards building a more comfortable nest egg and pursue 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 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.
Keeping Good Records is Good Business
Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.
Should You Tap Retirement Savings to Fund College?
There are three things to consider before dipping into retirement savings to pay for college.
The Fed and How It Got That Way
Here is a quick history of the Federal Reserve and an overview of what it does.
Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way.
Individuals have three basic choices with the 401(k) account they accrued at a previous employer.
Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?
Military families face unique challenges, making personal finance even more critical.
One way to find money is to examine your current spending habits and eliminate money wasters.
Preparing for the eventual distribution of your assets may not sound enticing. But a will puts the power in your hands.
This questionnaire will help determine your tolerance for investment risk.
Assess whether you are running “in the black” or “in the red” each month.
Enter various payment options and determine how long it may take to pay off a credit card.
This calculator shows how inflation over the years has impacted purchasing power.
This calculator compares the financial impact of leasing versus buying an automobile.
Estimate how much of your Social Security benefit may be considered taxable.
Principles that can help create a portfolio designed to pursue investment goals.
The importance of life insurance, how it works, and how much coverage you need.
How federal estate taxes work, plus estate management documents and tactics.
Learn more about taxes, tax-favored investing, and tax strategies.
A presentation about managing money: using it, saving it, and even getting credit.
Using smart management to get more of what you want and free up assets to invest.
Pundits say a lot of things about the markets. Let's see if you can keep up.
Though we don’t like to think about it, all of us will make an exit sometime. Are you prepared?
If your family relies on your income, it’s critical to know what their needs would be in the event of your death.
The market is as unpredictable as the weather. We’d love to help you prepare.
We all know the stock market can be unpredictable. We all want to know, “What’s next for the financial markets?”
Smart investors take the time to separate emotion from fact.