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.
Why You Need an Estate Strategy
Do you have an estate strategy? You should.
Putting a Price Tag On Your Health
Being healthy not only makes you feel good, it may also help you financially.
Investment Challenges of the Affluent Investor
Affluent investors face unique challenges when putting together an investment strategy. Make sure you keep these in mind.
Creating an inventory of your possessions can save you time, money and aggravation in the event you someday suffer losses.
There are unique risks of owning a second home and obtaining the proper coverage may protect you from financial risk.
Business owners may be able to protect themselves from the financial consequences of losing a key employee.
Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.
Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.
The true cost of raising a child may be far more than you expect.
Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP.
This calculator can help determine whether it makes sense to refinance your mortgage.
Determine if you are eligible to contribute to a traditional or Roth IRA.
Estimate how much you have the potential to earn during your working years.
Use this calculator to assess the potential benefits of a home mortgage deduction.
This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.
The chances of needing long-term care, its cost, and strategies for covering that cost.
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.
There are a number of ways to withdraw money from a qualified retirement plan.
Principles that can help create a portfolio designed to pursue investment goals.
Learn more about taxes, tax-favored investing, and tax strategies.
The decision whether to buy or rent a home may have long-term implications.
A bucket plan can help you be better prepared for a comfortable retirement.
Understanding the cycle of investing may help you avoid easy pitfalls.
Procrastination can be costly. When you get a late start, it may be difficult to make up for lost time.
How will you weather the ups and downs of the business cycle?
Selecting a mortgage isn't an easy process. Get a better understanding of how professionals make the right decisions.