Resources by Topic

Retirement Planning

Blog

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 […]

Read More

View All Blog Posts
Blog

4 Things a Surviving Spouse Should Know About Social Security

The Social Security administration gives benefits to surviving spouses based on the deceased’s retirement benefit. If the survivor is already taking retirement benefits, they can take the higher of either their own or their deceased spouse’s benefit.  Rules on these benefits are based on the age of the survivor and if the deceased had begun […]

Read More

View All Blog Posts
Blog

Year-End Financial Checklist

As 2019 comes to an end, take a few minutes to put a bow on your financial life for the year by running through this quick checklist: Maximize Employer Benefits: Spend flex dollars – Many employers offer Flexible Spending Accounts for health expenses or dependent care. Often times, balances must be spent before year-end or […]

Read More

View All Blog Posts
Blog

Working Wealthy – You Are In Control

Our three-year-old son, Nate, is a cannon-baller. If you’re not familiar with that term, it just means that he’s a mini-lunatic when it comes to bodily safety and decision making. For example, last weekend, as my daughter and I reclined on the floor reading a book together, Nate decided to run at us full speed […]

Read More

View All Blog Posts
Blog

Medicare 2019 – Key Enrollment Dates and Important Changes

The leaves are changing colors and a cool breeze is in the air, which means many retirees are securing their winter travel plans. However, before jumping on the plane to escape the cold winter months that lie ahead, it is also time for Medicare participants to decide if changes should be made to their health […]

Read More

View All Blog Posts
Blog

The Cobbler’s Children Paradox Affects Financial Professionals Too

The cobbler’s children have no shoes and financial professionals (private equity professionals, investment bankers, asset managers) have no financial plan. This paradox seems to consistently plague the individuals I meet who work in the finance industry. One would think that those in the industry are buttoned up in terms of their own financial needs; however, […]

Read More

View All Blog Posts
Blog

Working Wealthy – Accumulation to Consumption

We get the opportunity to work with BDF clients in all stages of their personal financial planning. Those stages include building wealth, accumulating wealth and eventually consuming that wealth. That last stage is probably the most interesting as it appears to be the most difficult from a behavioral level. That’s right—spending one’s retirement savings is […]

Read More

View All Blog Posts
Blog

What’s the Big Deal with Interest Rates? 3 Ways You Will Feel Changes

Markets go up. Markets go down. We’ve seen interest rates increase and we’ve seen interest rates decrease. Let’s assume you are not a big purchaser of Treasury Bonds – why would interest rates matter to you? The on-going saga of interest rates around the world continues to lead headlines across news outlets. With buzz words, […]

Read More

View All Blog Posts
Blog

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 […]

Read More

View All Blog Posts
Blog

Top 2 Tax Changes That May Affect Your Retirement

There are likely substantial retirement account changes on the horizon which will alter planning for all current and future retirees.  Recently, the House passed the Setting Every Community Up for Retirement Enhancement or SECURE Act. The SECURE Act is expected to pass the Senate in the coming months. The two most wide-reaching changes in the […]

Read More

View All Blog Posts
Blog

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, […]

Read More

View All Blog Posts
Blog

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 […]

Read More

View All Blog Posts