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Secret Retirement Saving Super-Power: The Mega Back Door Roth

For high earners and big savers, there are limitations on contributions to designated retirement accounts. Specifically, in 401k accounts, the maximum you can deduct from your salary is $19,500 in 2020. For those over 50, a “catch-up” contribution is allowed up to an additional $6,500. What many don’t know about 401k accounts is that there […]

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Money Lessons for Lawyers From the Ball Diamond

April is one of my favorite times of the year.  Certainly not because of the lovely April weather here in Chicago, but because normally it means baseball season is getting into full swing.  Unfortunately, the start of the baseball season has been pushed off a bit due to the impact of COVID-19, but it will […]

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It’s Comp Season – What Should I Do With All This Cash?

For many law firms, we are in the thick of “comp season.”  For many lawyers, the first couple of months of the year are when you receive the lion’s share of your compensation for the prior year.  This creates some degree of consternation and begs the question – “what should I do with my cash?” […]

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Money Lessons for Lawyers from the Gridiron

It’s the most wonderful time of the year!  You’re probably thinking that I’m referring to Christmas…Well, as much as I love a little yuletide cheer, I’m actually referring to the college football bowl season, which is fast approaching.  This got me thinking, what lessons from the gridiron can help lawyers think more strategically about their […]

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Lawyers Financial Freedom Checklist

Financial freedom.  Everyone wants it.  As a lawyer, what should you be doing now to achieve that freedom?  It depends on where you are in your career and how close you are to retirement.  Here are the top three saving strategies for attorneys you should have on your checklist, based on your career stage. Associates […]

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Common Money Mistakes Lawyers Make

As a lawyer, you spend your career climbing the ladder from first-year associate to (hopefully) equity partner.  But have you spent enough time thinking about life after the law?  Are you taking a proactive approach to retirement planning?  Here are some common retirement planning mistakes that lawyers often experience. Starting too late As a lawyer, […]

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Your Beneficiary Designations – Are They Correct?

Beneficiary designations are an extremely important component of an estate plan.  They are found on many types of assets such as IRAs, 401Ks, life insurance and annuities and designate who receives the asset after the account owner passes away.  The primary advantage of a beneficiary designation is that asset ownership transfers without the complexities and […]

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InvestmentNews awards BDF 2019 Best Places to Work for Financial Advisers

Balasa Dinverno Foltz LLC has been recognized as a 2019 Best Places to Work for Financial Advisers as announced by InvestmentNews April 1, 2019. BDF was chosen as one of this year’s top-75 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more. InvestmentNews partnered with Best Companies Group, an independent research […]

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Tips for Buying Travel Insurance

With Spring Break on the horizon, many families are hustling to pack their bags, load up the family mini-van, and get out of Dodge for the week. And if they’re really in a hurry to escape the never-ending Midwest winter, hopping on the first flights out to the beach. With all of the planning that […]

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Co-Investing with Clients? Read These Pointers First.

One of the more satisfying things about being a lawyer is the opportunity to build deep, important relationships with your clients. Given those relationships, lawyers are often afforded the opportunity to co-invest alongside firm clients in private investment funds or directly in a private company. For example, you have probably been approached with the opportunity […]

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Money lessons for lawyers

If retirement is the big game in your financial life, how well-prepared are you to win it? BDF’s Attorney Practice Group Leader, Justin Peacock, shares three strategies to consider for winning more games in your financial life in the article “Money Lessons for Lawyers Courtesy of the New England Patriots“, Law.com, February 14, 2019. (free […]

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Get your financial life in order

What goals have you set to put yourself on more solid financial footing in the year ahead? BDF’s Attorney Practice Group Leader, Justin Peacock, shares a few suggestions to consider in “Get Your Financial Life In Order.”, Law.com, January 30, 2019. (free subscription required to view article)

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