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.
Your DNA Test
If your family relies on your income, it’s critical to know what their needs would be in the event of your death.
Estate Management Checklist
Is your estate in order? This short quiz may help you assess your overall strategy.
Disability and Your Finances
In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings.
Planning for a special-needs child can be complicated, confusing, and even overwhelming.
Every year the IRS releases its list of tax scams, spotlighting some ways that people try to separate you from your money.
Successful sector investing is dependent upon an accurate analysis about when to rotate in and out.
It's important to understand the pros and cons when considering a prepaid debit card.
Calculating your potential Social Security benefit is a three-step process.
Don't let procrastination keep you from pursuing your financial dreams and goals.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
Assess whether you are running “in the black” or “in the red” each month.
Estimate how long your retirement savings may last using various monthly cash flow rates.
This calculator shows how inflation over the years has impacted purchasing power.
Help determine the required minimum distribution from an IRA or other qualified retirement plan.
This calculator estimates the savings from paying a mortgage bi-weekly instead of monthly.
A number of questions and concerns need to be addressed to help you better prepare for retirement living.
There are some key concepts to understand when investing for retirement
The chances of needing long-term care, its cost, and strategies for covering that cost.
How federal estate taxes work, plus estate management documents and tactics.
There are some smart strategies that may help you pursue your investment objectives
Investment tools and strategies that can enable you to pursue your retirement goals.
When do you need a will? The answer is easy: Right Now.
Learn how to harness the power of compound interest for your investments.
A bucket plan can help you be better prepared for a comfortable retirement.
A will may be only one of the documents you need—and one factor to consider—when it comes to managing your estate
It's easy to let investments accumulate like old receipts in a junk drawer.
In good times and bad, consistently saving a percentage of your income is a sound financial practice.