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Estate Planning

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Estate Planning Article

Cover Your Assets with an Estate Plan

We work hard to protect our wealth from many things while we’re alive. We try to avoid taking on too much investment risk. We try to avoid losing purchasing power to inflation over time. We have insurance policies in place to recover things we lose or to provide us...

Estate Planning Article

Creating Generational Wealth

Estate lawyers in Kansas City and beyond have witnessed the demise of family wealth again and again.

Estate Planning Article

What Happens to Debt When Someone Dies?

When a loved one passes away, most heirs are concerned about what will happen to their outstanding debt.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Estate Planning Article

Passing Down a Vacation Home

Wills and trusts administration lawyers often have the opportunity to work with local families who—in addition to planning for their regular home—also have a vacation home to take into consideration during the planning process.

Estate Planning Article

Keeping the Family Wealth Going

You’ve brought them into the world, watched them grow, cared for their needs, spent money on their wants, and regardless of the fact that they are now adults, you still want to take care of your child(ren) once you are gone.

Estate Planning Article

Paying for a Grandchild’s College

It’s the season of graduations and that means heading to your child or grandchild’s high school or college to watch them cross the stage beaming with accomplishment.

Estate Planning Article

Are You Prepared for Mental Decline?

No one likes to think about cognitive decline in themselves or their loved ones. But, for many families, this is an incredibly important topic to address.

Estate Planning Article

What Does the New Tax Plan Mean for Investing?

While much of the political fire and fury from Congress' tax plan debate has settled, some of the economic smoke still lingers as financial analysts and private investors plot their way through the new $1.4 trillion law's long-range ramifications.

Estate Planning Article

Tips for Families Who Have Children with Special Needs

When beginning to build their families, few parents expect to have a child with special needs. However, the experience is surprisingly common and affects millions of people throughout the United States.

Estate Planning Article

4 Pillars of Retirement Translated

From time to time, a new prospect that I’m meeting with asks me what the 4 pillars of retirement are and how they relate to retirement planning.

Estate Planning Article

5 Fun Activities for Kansas City Retirees

Reaching retirement brings many benefits, one of which is having more time to relax and explore.

Estate Planning Article

What is Probate?

Probate is the process of collecting your assets, paying your debts and taxes, and transferring the property owned by you, at your death, to your heirs. 

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Estate Planning

Estate Planning is an integral part of your overall retirement plan. Watch as Dean Barber discusses the importance of Estate Planning. 

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Preparing for a Satisfying Retirement

Many Americans worry about saving enough for the future and may not understand how to fully take advantage of their employer-sponsored retirement plan.

PDF Document

Naming a Trust as the IRA Beneficiary

When it comes to individual retirement accounts and trusts, they can be extremely complicated and when they consolidate, things can go very wrong and may be very expensive to fix.

PDF Document

Estate Planning Guide

One of the most important things you can do for them is to ensure that when you pass away, your estate is protected.

PDF Document

Estate Planning Checklist

While it may be unpleasant to think about, the time you spend preparing your estate now will help your loved ones to cope later, and will also ensure your wishes will be carried out.

Insurance

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Insurance Article

4 Questions to Ask About Long-Term Care

As you age, calculating the chances that you’ll need long-term care—and the associated costs—is incredibly important.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Insurance Article

Unexpectedly Alone

When someone loses their spouse and finds themselves unexpectedly alone, not only is it heartbreaking, it can be financially devastating.

Estate Planning Article

Tips for Families Who Have Children with Special Needs

When beginning to build their families, few parents expect to have a child with special needs. However, the experience is surprisingly common and affects millions of people throughout the United States.

Estate Planning Article

4 Pillars of Retirement Translated

From time to time, a new prospect that I’m meeting with asks me what the 4 pillars of retirement are and how they relate to retirement planning.

Insurance Article

Equifax Breach Isn’t Just About the Risk to Your Credit Cards

Identity theft has been a problem for years. Practically everyone knows of someone who has had their debit or credit card number compromised at some point.

Insurance Article

Should I Keep My Life Insurance?

Life insurance has two basic purposes. The first purpose is to replace income that is lost from the person who passes away. The second one is designed to be a way to enhance the estate left behind for any beneficiaries.

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Long-Term Care vs. Life Insurance

Dean Barber breaks down the important differences in Long-Term Care and Life Insurance.

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Life Insurance vs. Roth IRAs

Life insurance and Roth IRAs, despite their many similarities, Roth IRAs and life insurance are very different, and the rules that apply to one doesn’t always apply to the other.

PDF Document

Caring for Aging Parents

At some time in our lives, most of us find that parents, elderly relatives, and friends begin to need much more of our attention.

Investments

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Investments Article

How Likely is the Fed to Cut Interest Rates?

The question of the day is, how likely is the Fed to cut interest rates in the near term? Their rhetoric has certainly picked up. Last year’s rate hike in December—seen by many as a “mistake” was a continuation of the normalization of monetary policy that began in 2016. This is in contrast to the Fed’s sharp about-face not two months later, where rate hikes were effectively put on pause.

Investments Article

Financial Planning Lessons from Chernobyl

HBO’s Chernobyl is a five-part mini-series that dramatizes the story about the nuclear disaster that took place in 1986 in northern Ukraine. It just wrapped up a few weeks ago. It was one of the best shows I’ve ever seen on TV. My wife, Lauren, and I were hooked from the start. Spoiler Alert! for those interested in seeing the show but haven't or are unaware of the events of Chernobyl.

Investments Article

10-Year Treasury and Market Volatility

One thing is for certain; May was an exciting month overall - we have some updates on the 10-year Treasury, tons of news, lots of talk about the trade war with China, lots of talk about this new trade tariff deal that Trump is threatening on Mexico, and the markets are in a turmoil for May.

Investments Article

US Stocks: Investing for Retirement

Today we’ll be looking at what is arguably the most discussed part of your investment portfolio, US stocks. If you missed the last two installments of our Investing for Retirement series be sure to check them out. They were on bonds and international stocks. Turn on CNBC (no financial planner has never said this phrase before, probably), and you’ll be updated every minute of the day as to how this asset class is performing in bright, bold numbers. If you get online, watch TV, or listen to the radio throughout the day...

Investments Article

Tariffs, Trade, and the Economy

Turn on any news outlet, or pick up any news publication today and you’re likely to see or read about the tariffs that the U.S. has recently imposed on goods imported from China. Most people covering this developing story refer to what’s going on as a trade war. And most oversimplify the situation

Investments Article

Qualified Charitable Distributions and Your Taxes

Let's talk about QCDs, qualified charitable distributions. Now, QCDs are something that's been around for a number of years - yet hasn't been talked about. However, thanks to the Tax Cuts and Jobs Act, it's really become something that is a windfall to a lot of people if they understand how to utilize the QCD.

Investments Article

Bear Markets and Your Retirement

Let's imagine that you are 60 years old, and you've saved well. You've got a good amount of money in your 401(k). You know that you're going to have your Social Security and your spouse is going to have their Social Security. You save some money outside the 401(k). You've enjoyed a good, nice run in the markets, and it's October of 2007. The bear markets of the Great Recession is around the corner.

Investments Article

Negative Interest Rates Around the Globe

We’re all used to the concept of earning interest on our money at the bank. We deposit money into a savings account, the bank pays us a nominal interest rate, and meanwhile, our principle (what we deposited) is safe. Oddly enough, however, negative interest rates exist and are in effect in the world today.

Investments Article

Interest Rates and the Yield Curve

Hi, I'm Dean Barber,  Founder, and CEO of Barber Financial Group. It's May 1st. Welcome to the economic update. Today we're reviewing a little bit about what the markets have done so far this year, where they're at today, and what's changed since the 4th quarter of 2018. We're going to discuss interest rates and the yield curve to give you an idea we are today. We'll talk about what we're thinking about the markets and what we're thinking about the economy. As well as what some of the indicators out there are telling us today.

Investments Article

Recessions and Bear Markets

According to JP Morgan, there have been 11 recessions in the US since the end of WWII. Recessions are defined as two consecutive quarters (6 months) of negative growth in gross domestic product or GDP. GDP is a measurement of our overall economic and business activity.

Investments Article

What is Yield Curve Inversion?

A recurring headline in financial media lately discusses something called the yield curve inversion. The yield curve has historically been a fairly accurate predictor of economic turmoil and recessions. In “normal” times...

Investments Article

The Yield Curve Inverted, What You Need to Know

You've probably heard the yield curve inverted, and we will cover that. But what I am going to review with you is critical so you understand what's happening in the world of money. Not just in the world of the stock market. We're going to spend some time looking at the history of the bond...

Investments Article

DIY Your Retirement, Can it Really Be Done?

There are thousands of online resources and books that claim to teach you how to DIY (do-it-yourself) your retirement. But is it really possible and does it work?

Investments Article

End of the Great Recession Was 10 Years Ago

I want to start by saying, happy anniversary to the 10th anniversary of the official end to the Great Recession. Of course, we only know now because it's all in the rearview mirror that the stock market hit its all-time low March 9, 2009, after falling 56% from its peak in October of 2007.

Investments Article

GDP Growth and Interest Rates

Many people might think that spring is here in the markets. Well, I'm going to give you a reality check today on everything that's been going on in the markets.

Investments Article

How Do My Investments Affect My Taxes?

The relationship between investments and taxes is perhaps one of the most overlooked areas of retirement planning. Decisions that are made on the investment side of your retirement plan will most likely have some type of impact on your tax return. Typically an investor will have three different tax buckets that they can...

Investments Article

Fed Reacted to Market Tantrums

Something interesting happened yesterday. I don’t know if you have ever experienced it or not, but perhaps you have seen a child that doesn’t get his or her way and they throw a temper...

Investments Article

What’s Causing the Negativity?

Let’s start with the fact that we haven’t seen the type of volatility that we’re seeing today in 11 years. It’s been since the 4th quarter of 2007 when the sub-prime crisis began to rear its ugly head and just before the Great Recession.

Investments Article

You Can Save More Money in Your IRA in 2019

Saving for retirement? Then we’ve got some good news. The IRA contribution limit will increase to $6,000 in 2019, up from $5,500 in 2018. Even better news for some, if you’re over 50 in 2019 you’ll be able to contribute $7,000, as compared to $6,500 in 2018.

Investments Article

Is a Roth Conversion Right for Me?

There is story after story about people who come into a bunch of money. Where problems can arise is when they don’t know what to do with it, they don’t understand the concept of money, and they don’t know how much they can safely spend.

Investments Article

Was this October Signaling the Next Bear Market?

This last month has been a pretty typical October. Two of the last three major bear markets have begun in the month of October and so many people are asking, “Was this October the signal of the next bear market to come?”

Investments Article

Women Navigating to Financial Success

What do women want when it comes to their financial future?

Investments Article

Strong Economy & Interest Rate Effects

It’s October 3rd as of writing this, and we’re officially into Fall. It’s been a hot summer for the markets with most of the major indices trading at record highs, with a few exceptions.

Investments Article

Interest Rates and the Stock Market

We’ll go over what’s gone on in the last four or five weeks and what we anticipate is coming for the balance of the year.

Investments Article

Volatility & July GDP

Welcome to the Monthly Economic Update, I hope everyone had a great month and spent some time with their families.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Investments Article

Interest Rates & Trade Wars

Welcome to the Monthly Economic Update for the month of June 2018. It’s June 27th as of the day I’m writing this article. Today, the stock market reversed a 285-point gain and as of this writing we’re down about 125 points on the Dow.

Investments Article

How Interest Rates & Valuations are Affecting the Markets

As of today, the markets are down pretty substantially with President Trump writing a letter to Kim Jong-un putting the talks with North Korea on hold indefinitely.

Investments Article

Spotting Email Phishing Scams

For some, spotting email phishing scams is a part of daily life. You check your email, see something that’s off in an email, and delete it shrugging it off as another attempt to get your personal data.

Investments Article

What is Causing All of the Volatility?

I want to do a few things today. I want to talk about what is causing all of the volatility so far this year, what happened in April, and then I’ll give my outlook for the balance of the year.

Investments Article

Taking Advantage of Stretch IRAs

If you weren’t already aware, a huge benefit of an IRA is its capability to generate tax-favored money to beneficiaries.

Investments Article

Q1 2018 Review and Q2 Outlook

Volatility, which was notable by its absence in 2017, came back with a vengeance in Q1 of 2018.

Investments Article

March Markets Were Like a Rollercoaster

March markets were like a rollercoaster and if you don’t like rollercoasters, the month of March was not much fun for you. In fact, the whole first quarter of the year wasn’t a lot of fun if you don’t enjoy ups and downs in the market. There’s not many who do.

Investments Article

Talking to Your Spouse About Money

Have you ever had trouble talking to your spouse about money, or more specifically, the purpose of your money in life?

Investments Article

Wage Inflation & A Volatile February

Well, I could be really sensational and say this is the worst February since 2009 and that's true.

Investments Article

Determining Tax on Roth IRA Distributions in 5 Easy Steps

What are the ordering rules? Roth IRA distributions can consist of contributions, converted funds and earnings – or any combination of the three.

Investments Article

Stock Market Update with Dean Barber

There’s no doubt that this week on Wall Street has been tumultuous.

Investments Article

2017 Year in Review & Looking Ahead at 2018

Let’s make this an annual update and talk about risk and reward. We are now far into the second longest bull market in history.

Investments Article

No More Roth IRA Do-Overs Under the New Tax Bill

Now that the Senate and the House of Representatives have both passed versions of the new tax reform law, one of the things that got the ax was Roth IRA recharacterizations after December 31, 2017.

Investments Article

The Importance of Diversification

It’s December 4th as we record this and what an interesting month we had in the month of November.

Investments Article

End the Year on a Financial High Note

The holiday season is around the corner, and with the busy days ahead, 2018 will be here before you know it.

Investments Article

Fixing a Missed RMD in 5 Easy Steps

What is a missed RMD (required minimum distribution)? RMDs must be taken by IRA owners beginning in the year they turn age 70 ½ and by IRA...

Investments Article

Tax Reform Proposal Finally Unveiled

Note: After weeks of discussion, disagreements, and postponements, the House announced their plan for tax reform yesterday, November 2, 2017.

Investments Article

The Strangest October & Good Market Performance

Here we are in November. We just experienced literally the strangest October that I have seen in my 30 years in this industry.

Investments Article

Important Read: Is the World Getting Worse?

It’s our pleasure to bring you an article from a man we had the pleasure to meet and hear speak at a TD Ameritrade conference a few years ago, Mr. Peter Diamandis.

Estate Planning Article

Tips for Families Who Have Children with Special Needs

When beginning to build their families, few parents expect to have a child with special needs. However, the experience is surprisingly common and affects millions of people throughout the United States.

Estate Planning Article

4 Pillars of Retirement Translated

From time to time, a new prospect that I’m meeting with asks me what the 4 pillars of retirement are and how they relate to retirement planning.

Investments Article

The Least Volatile September in Recent Market History

We’re in the early days of October and September was a surprising month by many standards. It was one of the least volatile Septembers we have seen in recent market history.

Investments Article

The High Cost of Divorcing Later in Life

Divorce is rarely easy. Most of the time, it is one of the hardest things to go through in life regardless what age you and your spouse are.

Investments Article

Protecting Yourself from Scams After the Equifax Hack

By now you have probably heard about the Equifax data breach and if the fact that millions of people’s personal information was linked to heaven knows who isn’t bad enough, here is even more concerning news.

Insurance Article

Equifax Breach Isn’t Just About the Risk to Your Credit Cards

Identity theft has been a problem for years. Practically everyone knows of someone who has had their debit or credit card number compromised at some point.

Investments Article

Is the Economy Slowing Down?

It’s September, after a long Labor Day weekend, hope everybody had a nice time and was able relax and enjoy your family. August turned out to be an interesting month.

Investments Article

Interest Rates Stay Low Despite Hikes by The Fed

July was an interesting month. The old theory of “Sell in May and go away” would not have worked so well this summer.

Investments Article

Is there More to the Record Stock Markets?

Here we are, summer in full swing. On the economic front, we had a pretty light calendar in the month of June. We did see some positive things happen.

Investments Article

Important Information Regarding the Newly Enacted DOL Rule

Regardless if you are a financial news junkie or simply a 10 o’clock evening news viewer, chances are you’ve heard about the new DOL rule that went into effect June 9th, 2017.

Investments Article

Interest Rates Come Down in May, but it’s Not What You Think

Welcome to June and welcome to Summer, it’s almost here. So, from an economic perspective May was pretty boring, not a lot of exciting things happened during the month and I think that’s a good thing.

Investments Article

Invest Lifestyle Expenses in Memorable Experiences

Financial envy is even more of a thing now than it was back in 1913 when cartoonist Arthur R. “Pop” Momand debuted the comic strip “Keeping Up with the Joneses,” which centered on the misadventures of Aloysius P. McGinnis and his family, who were always trying to keep up with their never-seen neighbors, the Joneses.[1]

Investments Article

Simple Tips for Ramping Up Your Retirement Savings

No matter where you are in your life, saving for retirement is likely one of your most important financial goals. But, even if you have professional guidance and a clear strategy for your desired future, you could still be missing some straightforward ways to maximize your savings.

Investments Article

Markets Counting on Trump Tax & Economic Plans

Not a lot really happened in the month of April, except for the fact that we had some really good corporate earnings out. We had a confirmation that first quarter GDP was subpar at best, however, better than last years zero rate.

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Choosing a Financial Advisor Video

Choosing the right financial advisor for your is an important process. Here are some things to consider when you're making your decision.

Video

Savvy IRA Planning for Boomers

Dean Barber goes in-depth reviewing IRA Planning.

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PDF Document

Understanding Required Minimum Distributions (RMDs)

When you reach age 70 ½, you must begin to draw funds from your traditional (i.e., non-Roth) Individual Retirement Accounts (IRAs).

PDF Document

401(k) Action Steps

Every time you change jobs, you need to make some choices about what to do with your old 401(k) so that it keeps up with your financial needs.

PDF Document

Naming a Trust as the IRA Beneficiary

When it comes to individual retirement accounts and trusts, they can be extremely complicated and when they consolidate, things can go very wrong and may be very expensive to fix.

PDF Document

6 Important Financial Strategies for Your 20s and 30s

Personal finance and investing is an enormous field that provides many options. investing and personal finance and to help them start thinking seriously about their financial future.

PDF Document

Inherited IRAs: Tips You Need to Know

Retirement planning is complicated. It’s a personal and situational endeavor with plenty of possible pitfalls in the way of success. As a beneficiary of an IRA, you may find yourself with many questions and concerns.

PDF Document

401(k) Survival Guide

Not sure what to do with your 401(k) when you retire or are nearing retirement? Once you retire, a plan for withdrawing those funds that provides a constant source of income that isn’t eaten up by taxes and other costly traps must be constructed

PDF Document

70 Things You Should Expect from Your Advisor

With so many wealth managers to choose from, it’s crucial that you understand your options and define your needs like you would with your family doctor, lawyer and other professional services.

PDF Document

The Importance of Bonds in a Quality Financial Plan

Bonds can be appropriate investment vehicles for retirees seeking income, but you should have a firm grasp of the numbers before embarking on the journey.

Retirement

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Investments Article

How Likely is the Fed to Cut Interest Rates?

The question of the day is, how likely is the Fed to cut interest rates in the near term? Their rhetoric has certainly picked up. Last year’s rate hike in December—seen by many as a “mistake” was a continuation of the normalization of monetary policy that began in 2016. This is in contrast to the Fed’s sharp about-face not two months later, where rate hikes were effectively put on pause.

Retirement Article

New Retirement Bill, the SECURE Act

JoAnn Huber, our CPA, learned about a fascinating new retirement bill that has passed the House and is likely to pass the Senate because it is believed that only six senators today are against it. So, it’s likely to become law. To set the stage, this new retirement bill could impact tax law.

Investments Article

Financial Planning Lessons from Chernobyl

HBO’s Chernobyl is a five-part mini-series that dramatizes the story about the nuclear disaster that took place in 1986 in northern Ukraine. It just wrapped up a few weeks ago. It was one of the best shows I’ve ever seen on TV. My wife, Lauren, and I were hooked from the start. Spoiler Alert! for those interested in seeing the show but haven't or are unaware of the events of Chernobyl.

Retirement Article

Happiness and Your Financial Life

I want to walk you through the importance of building a personal financial plan. But before I get to that, I want to talk to you about some interesting statistics on happiness.

Retirement Article

Social Security Trust Fund in the News Again

You're probably aware that there are numerous issues surrounding the Social Security Trust Fund, and its ability to pay benefits into the future. Just this past April, the annual Social Security Trustees’ report pegs the trust fund to be depleted by 2035. There’s been a lot of talk about “fixes” for the system.

Retirement Article

Taxes in Retirement

It's the things that you think you know about, that just isn't so that gets you in trouble, and taxes in retirement is one of those things. Many people believe they're going to be in a lower tax bracket in retirement. Or that it doesn't matter where they get their income from in retirement, that it's all going to be the same.

Investments Article

10-Year Treasury and Market Volatility

One thing is for certain; May was an exciting month overall - we have some updates on the 10-year Treasury, tons of news, lots of talk about the trade war with China, lots of talk about this new trade tariff deal that Trump is threatening on Mexico, and the markets are in a turmoil for May.

Retirement Article

Investing for Retirement

History has shown that mixing those three types of investments in your portfolio can increase your risk-adjusted returns.

Retirement Article

Financial Planning Blind Spots

We're talking about financial planning blind spots this week on America's Wealth Management Show. Financial planning blind spots are in your path to and through retirement, and there are many of them. By definition, a blind spot is something that you don't know exists, and that can cause a lot of accidents.

Investments Article

US Stocks: Investing for Retirement

Today we’ll be looking at what is arguably the most discussed part of your investment portfolio, US stocks. If you missed the last two installments of our Investing for Retirement series be sure to check them out. They were on bonds and international stocks. Turn on CNBC (no financial planner has never said this phrase before, probably), and you’ll be updated every minute of the day as to how this asset class is performing in bright, bold numbers. If you get online, watch TV, or listen to the radio throughout the day...

Retirement Article

International Stocks: Investing for Retirement

In our last post, we looked at how bonds can fit into a diversified portfolio. Today, we are looking overseas, and why you might want to own international stocks to be truly diversified. When you look at the stock (equities) portion of your portfolio, you have an important decision to make.

Retirement Article

Bonds: Investing for Retirement

Often, when discussing portfolio allocations with clients, I will get asked a question or two that goes something like this, "The Federal Reserve is raising interest rates. Why would I want to own bonds?" or "Yields on bonds are pretty low, shouldn't I just own dividend-paying stocks instead?" or "Bonds aren't making any money, look how much they lagged behind stocks. Tell me again; why do I want to own those?"

Investments Article

Qualified Charitable Distributions and Your Taxes

Let's talk about QCDs, qualified charitable distributions. Now, QCDs are something that's been around for a number of years - yet hasn't been talked about. However, thanks to the Tax Cuts and Jobs Act, it's really become something that is a windfall to a lot of people if they understand how to utilize the QCD.

Investments Article

Bear Markets and Your Retirement

Let's imagine that you are 60 years old, and you've saved well. You've got a good amount of money in your 401(k). You know that you're going to have your Social Security and your spouse is going to have their Social Security. You save some money outside the 401(k). You've enjoyed a good, nice run in the markets, and it's October of 2007. The bear markets of the Great Recession is around the corner.

Investments Article

Interest Rates and the Yield Curve

Hi, I'm Dean Barber,  Founder, and CEO of Barber Financial Group. It's May 1st. Welcome to the economic update. Today we're reviewing a little bit about what the markets have done so far this year, where they're at today, and what's changed since the 4th quarter of 2018. We're going to discuss interest rates and the yield curve to give you an idea we are today. We'll talk about what we're thinking about the markets and what we're thinking about the economy. As well as what some of the indicators out there are telling us today.

Investments Article

Recessions and Bear Markets

According to JP Morgan, there have been 11 recessions in the US since the end of WWII. Recessions are defined as two consecutive quarters (6 months) of negative growth in gross domestic product or GDP. GDP is a measurement of our overall economic and business activity.

Retirement Article

Questions About Required Minimum Distributions (RMDs)

Our CPAs at Barber Financial Group often get questions about Required Minimum Distributions (RMDs). It’s a new thing for people. Once they turn 70½, they have...

Retirement Article

Making a Budget for Retirement

Are you close to retirement or at least can see it getting closer on the horizon? If so, thumbs up to you! Retirement is a major achievement but also one of the most common.

Investments Article

The Yield Curve Inverted, What You Need to Know

You've probably heard the yield curve inverted, and we will cover that. But what I am going to review with you is critical so you understand what's happening in the world of money. Not just in the world of the stock market. We're going to spend some time looking at the history of the bond...

Investments Article

DIY Your Retirement, Can it Really Be Done?

There are thousands of online resources and books that claim to teach you how to DIY (do-it-yourself) your retirement. But is it really possible and does it work?

Retirement Article

Could You Be Audited This Year?

There are certain pieces of mail that no one wants to see in their mailbox, and I’m not just talking about the normal electric bill. Notices of jury duty, legal matters, and one of the most dreaded pieces of certified mail?

Investments Article

End of the Great Recession Was 10 Years Ago

I want to start by saying, happy anniversary to the 10th anniversary of the official end to the Great Recession. Of course, we only know now because it's all in the rearview mirror that the stock market hit its all-time low March 9, 2009, after falling 56% from its peak in October of 2007.

Investments Article

GDP Growth and Interest Rates

Many people might think that spring is here in the markets. Well, I'm going to give you a reality check today on everything that's been going on in the markets.

Estate Planning Article

Cover Your Assets with an Estate Plan

We work hard to protect our wealth from many things while we’re alive. We try to avoid taking on too much investment risk. We try to avoid losing purchasing power to inflation over time. We have insurance policies in place to recover things we lose or to provide us...

Retirement Article

Should I Get Out of Debt Before I Retire?

Should I get out of debt before I retire? It's one of the more common questions I get when I meet with people getting closer to retirement. The most common liability on a balance sheet I see is a mortgage when asked if someone should get out of debt before they retire. For a long time

Retirement Article

How Do I Pay Less Taxes?

Everyone in America who pays taxes feels like they have paid their fair share, and in some cases, far more than their fair share. This causes people to be very shortsighted when it comes to reducing your tax bill.

Investments Article

How Do My Investments Affect My Taxes?

The relationship between investments and taxes is perhaps one of the most overlooked areas of retirement planning. Decisions that are made on the investment side of your retirement plan will most likely have some type of impact on your tax return. Typically an investor will have three different tax buckets that they can...

Investments Article

Fed Reacted to Market Tantrums

Something interesting happened yesterday. I don’t know if you have ever experienced it or not, but perhaps you have seen a child that doesn’t get his or her way and they throw a temper...

Retirement Article

4 Reasons Why Tax Planning is so Important

When it comes to advanced tax planning, unfortunately many people either just don’t do it or they wait until the last minute only to find out that there aren’t any options to take advantage of at the point of filing their tax return.

Retirement Article

The Worst December Since the 1930s

Welcome to the Monthly Economic Update, it’s January 4, 2019 as of writing this article and what an absolute wild ride it’s been over the last quarter.

Retirement Article

IRA New Year’s Resolutions

The New Year is here, and you may be thinking about an array of resolutions you have for 2019. This year, we want to encourage you to really pay attention to your IRA...

Retirement Article

Coming Full Circle

I have been reminiscing recently about the beginning. The beginning of the Art & Travel Club for our BFG Family. We have traveled the globe and embraced the places that make our Kansas City great.

Investments Article

What’s Causing the Negativity?

Let’s start with the fact that we haven’t seen the type of volatility that we’re seeing today in 11 years. It’s been since the 4th quarter of 2007 when the sub-prime crisis began to rear its ugly head and just before the Great Recession.

Investments Article

You Can Save More Money in Your IRA in 2019

Saving for retirement? Then we’ve got some good news. The IRA contribution limit will increase to $6,000 in 2019, up from $5,500 in 2018. Even better news for some, if you’re over 50 in 2019 you’ll be able to contribute $7,000, as compared to $6,500 in 2018.

Retirement Article

End of Year Checklist

With the end of the year quickly approaching the last thing you need is another checklist.

Investments Article

Is a Roth Conversion Right for Me?

There is story after story about people who come into a bunch of money. Where problems can arise is when they don’t know what to do with it, they don’t understand the concept of money, and they don’t know how much they can safely spend.

Investments Article

Was this October Signaling the Next Bear Market?

This last month has been a pretty typical October. Two of the last three major bear markets have begun in the month of October and so many people are asking, “Was this October the signal of the next bear market to come?”

Retirement Article

Social Security Benefits to Increase in 2019

Last week the Social Security Administration announced a 2.8% Cost-of-Living Adjustment, or COLA, beginning in January 2019. It’s the biggest increase since 2012.

Retirement Article

Questions About Social Security?

We know Social Security is a complicated system with many rules, regulations, and year-over-year changes. That’s why we regularly bring you articles covering questions that might be top-of-mind for you on claiming your benefits.

Investments Article

Women Navigating to Financial Success

What do women want when it comes to their financial future?

Investments Article

Strong Economy & Interest Rate Effects

It’s October 3rd as of writing this, and we’re officially into Fall. It’s been a hot summer for the markets with most of the major indices trading at record highs, with a few exceptions.

Retirement Article

At What Age Can I Retire?

How long do you need to work? Like just about everything else in financial planning, it’s a complex question.

Retirement Article

Have I Saved Enough Money to Retire?

Do a quick Google search for “cost of retirement” and you’ll be inundated with various numbers or multiples.

Retirement Article

10 to 15 Years from Retirement – What Do I Need to Do?

Depending on when you wish to retire, there are certain things you should check off your Retirement Plan Checklist at certain points in advance.

Insurance Article

4 Questions to Ask About Long-Term Care

As you age, calculating the chances that you’ll need long-term care—and the associated costs—is incredibly important.

Investments Article

Interest Rates and the Stock Market

We’ll go over what’s gone on in the last four or five weeks and what we anticipate is coming for the balance of the year.

Retirement Article

Taxes in Retirement Get More Complicated, Not Simpler

Most people believe that taxes are just a matter of fact, they are what they are.

Retirement Article

Are You Prepared to Claim Social Security?

On August 14, 1935 Social Security became reality and is now a major part of our retirement system and welfare system.

Investments Article

Volatility & July GDP

Welcome to the Monthly Economic Update, I hope everyone had a great month and spent some time with their families.

Retirement Article

Will Reduced Withholdings Cause You to Owe at Tax Time?

In December 2017, Congress passed a major tax bill called the Tax Cuts & Jobs Act (TCJA) which resulted in lower federal income taxes for many Americans.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Investments Article

Interest Rates & Trade Wars

Welcome to the Monthly Economic Update for the month of June 2018. It’s June 27th as of the day I’m writing this article. Today, the stock market reversed a 285-point gain and as of this writing we’re down about 125 points on the Dow.

Retirement Article

Why We Plan

Do you remember getting your first paycheck and how it felt? Regardless if it was $10, $100, or $1000, there’s a good chance that you felt like a millionaire, even if only for a few minutes.

Estate Planning Article

Passing Down a Vacation Home

Wills and trusts administration lawyers often have the opportunity to work with local families who—in addition to planning for their regular home—also have a vacation home to take into consideration during the planning process.

Investments Article

How Interest Rates & Valuations are Affecting the Markets

As of today, the markets are down pretty substantially with President Trump writing a letter to Kim Jong-un putting the talks with North Korea on hold indefinitely.

Estate Planning Article

Paying for a Grandchild’s College

It’s the season of graduations and that means heading to your child or grandchild’s high school or college to watch them cross the stage beaming with accomplishment.

Investments Article

Spotting Email Phishing Scams

For some, spotting email phishing scams is a part of daily life. You check your email, see something that’s off in an email, and delete it shrugging it off as another attempt to get your personal data.

Retirement Article

My Parents are Retiring Soon

The title says it all, my parents are retiring soon, and I couldn’t be happier for them. After years of hard work, opening businesses, closing businesses, and socking away savings they’re on their way to retiring in full within the next year.

Investments Article

What is Causing All of the Volatility?

I want to do a few things today. I want to talk about what is causing all of the volatility so far this year, what happened in April, and then I’ll give my outlook for the balance of the year.

Investments Article

Taking Advantage of Stretch IRAs

If you weren’t already aware, a huge benefit of an IRA is its capability to generate tax-favored money to beneficiaries.

Investments Article

Q1 2018 Review and Q2 Outlook

Volatility, which was notable by its absence in 2017, came back with a vengeance in Q1 of 2018.

Retirement Article

Ignoring the Invisible Hand

One of the most important questions we have about our country's future is whether prosperity itself will make the American people lose sight of where that prosperity comes...

Investments Article

March Markets Were Like a Rollercoaster

March markets were like a rollercoaster and if you don’t like rollercoasters, the month of March was not much fun for you. In fact, the whole first quarter of the year wasn’t a lot of fun if you don’t enjoy ups and downs in the market. There’s not many who do.

Investments Article

Talking to Your Spouse About Money

Have you ever had trouble talking to your spouse about money, or more specifically, the purpose of your money in life?

Insurance Article

Unexpectedly Alone

When someone loses their spouse and finds themselves unexpectedly alone, not only is it heartbreaking, it can be financially devastating.

Estate Planning Article

Are You Prepared for Mental Decline?

No one likes to think about cognitive decline in themselves or their loved ones. But, for many families, this is an incredibly important topic to address.

Investments Article

Wage Inflation & A Volatile February

Well, I could be really sensational and say this is the worst February since 2009 and that's true.

Investments Article

Determining Tax on Roth IRA Distributions in 5 Easy Steps

What are the ordering rules? Roth IRA distributions can consist of contributions, converted funds and earnings – or any combination of the three.

Retirement Article

2018 Tips for Tax Deduction and Credit Planning

Let’s face it – you will continue to pay taxes during your retirement. What most people are not aware of is that retirees have more control over their tax bill during these years than any other time of their life.

Retirement Article

The Best January Since 1989

Today, the day I'm writing this, is January 29, 2018 and we have a couple of days left in the month.

Retirement Article

Start Preparing for the Next Bear Market Now

The last time US stock investors experienced a bear market (typically defined by a 20% decline in the broad stock market), Barack Obama had just been elected President, and the Billboard Top Artists chart included names like Kid Rock and the Jonas Brothers.

Investments Article

2017 Year in Review & Looking Ahead at 2018

Let’s make this an annual update and talk about risk and reward. We are now far into the second longest bull market in history.

Retirement Article

Define & Reach Your 2018 Financial Resolutions

The New Year is here, bringing a fresh opportunity to consider your goals.

Investments Article

No More Roth IRA Do-Overs Under the New Tax Bill

Now that the Senate and the House of Representatives have both passed versions of the new tax reform law, one of the things that got the ax was Roth IRA recharacterizations after December 31, 2017.

Retirement Article

What You Need to Know About Tax Reform

This fall, the Senate and House released proposed legislation that would dramatically alter taxes in the United States.

Investments Article

The Importance of Diversification

It’s December 4th as we record this and what an interesting month we had in the month of November.

Investments Article

End the Year on a Financial High Note

The holiday season is around the corner, and with the busy days ahead, 2018 will be here before you know it.

Investments Article

Fixing a Missed RMD in 5 Easy Steps

What is a missed RMD (required minimum distribution)? RMDs must be taken by IRA owners beginning in the year they turn age 70 ½ and by IRA...

Investments Article

Tax Reform Proposal Finally Unveiled

Note: After weeks of discussion, disagreements, and postponements, the House announced their plan for tax reform yesterday, November 2, 2017.

Investments Article

The Strangest October & Good Market Performance

Here we are in November. We just experienced literally the strangest October that I have seen in my 30 years in this industry.

Investments Article

Important Read: Is the World Getting Worse?

It’s our pleasure to bring you an article from a man we had the pleasure to meet and hear speak at a TD Ameritrade conference a few years ago, Mr. Peter Diamandis.

Estate Planning Article

Tips for Families Who Have Children with Special Needs

When beginning to build their families, few parents expect to have a child with special needs. However, the experience is surprisingly common and affects millions of people throughout the United States.

Estate Planning Article

4 Pillars of Retirement Translated

From time to time, a new prospect that I’m meeting with asks me what the 4 pillars of retirement are and how they relate to retirement planning.

Investments Article

The Least Volatile September in Recent Market History

We’re in the early days of October and September was a surprising month by many standards. It was one of the least volatile Septembers we have seen in recent market history.

Retirement Article

What if You Just Don’t Want to Retire?

Everyone assumes that everyone else wants to retire 100%, i.e. leave the working phase of their life behind and sit on a warm sunny beach (or something relaxing like that).

Investments Article

The High Cost of Divorcing Later in Life

Divorce is rarely easy. Most of the time, it is one of the hardest things to go through in life regardless what age you and your spouse are.

Retirement Article

When is My Social Security Break-Even Point?

The breakeven point for a single individual is a fairly simple calculation. The actuaries at the Social Security Administration designed the system so that a person living to the current life expectancy, based on the current mortality tables provided by the US government, will have received the same amount out of Social Security by everyone who reaches life expectancy age.

Retirement Article

Is Social Security Tax-Free?

A very common question we are asked at Barber Financial Group is if Social Security is tax free. The quick answer is: If the only income you have is Social Security you will not pay any taxes on your Social Security.

Investments Article

Protecting Yourself from Scams After the Equifax Hack

By now you have probably heard about the Equifax data breach and if the fact that millions of people’s personal information was linked to heaven knows who isn’t bad enough, here is even more concerning news.

Retirement Article

5 Best Part-Time Jobs for Retirees

If you’re approaching retirement but don’t want to stop working, a part-time job is a great way to spend some of your newfound freedom, and bring home extra income.

Insurance Article

Equifax Breach Isn’t Just About the Risk to Your Credit Cards

Identity theft has been a problem for years. Practically everyone knows of someone who has had their debit or credit card number compromised at some point.

Investments Article

Is the Economy Slowing Down?

It’s September, after a long Labor Day weekend, hope everybody had a nice time and was able relax and enjoy your family. August turned out to be an interesting month.

Retirement Article

Will I Pay Taxes on My Inheritance?

There are many different forms of inheritance. Some will carry a tax burden while others will not.

Retirement Article

What’s the Difference Between Retirement Age and Social Security Claiming Age?

Many people believe that the date that they should claim Social Security is synonymous with the day that they retire. However, nothing could be further from the truth.

Insurance Article

Should I Keep My Life Insurance?

Life insurance has two basic purposes. The first purpose is to replace income that is lost from the person who passes away. The second one is designed to be a way to enhance the estate left behind for any beneficiaries.

Retirement Article

5 Summer Activities to do with Your Grandkids

Summer in Kansas City provides many unique opportunities to not only experience the community, but also build stronger bonds with your grandchildren.

Investments Article

Interest Rates Stay Low Despite Hikes by The Fed

July was an interesting month. The old theory of “Sell in May and go away” would not have worked so well this summer.

Retirement Article

5 Strategies to Reduce RMDs

Nothing lasts forever. This includes tax deferral on your IRAs. Eventually, Uncle Sam is going to want his share and will require funds to come out of these accounts.

Investments Article

Is there More to the Record Stock Markets?

Here we are, summer in full swing. On the economic front, we had a pretty light calendar in the month of June. We did see some positive things happen.

Retirement Article

How is Social Security Taxed?

A common question we receive at Barber Financial Group is “How will my Social Security be taxed?”

Investments Article

Important Information Regarding the Newly Enacted DOL Rule

Regardless if you are a financial news junkie or simply a 10 o’clock evening news viewer, chances are you’ve heard about the new DOL rule that went into effect June 9th, 2017.

Retirement Article

How do I get more Social Security?

Social Security is a very complex system. Social Security was originally formed to allow older workers to exit the workforce without the risk of running out of money in retirement, while allowing room for younger workers to come into the workforce.

Investments Article

Interest Rates Come Down in May, but it’s Not What You Think

Welcome to June and welcome to Summer, it’s almost here. So, from an economic perspective May was pretty boring, not a lot of exciting things happened during the month and I think that’s a good thing.

Investments Article

Invest Lifestyle Expenses in Memorable Experiences

Financial envy is even more of a thing now than it was back in 1913 when cartoonist Arthur R. “Pop” Momand debuted the comic strip “Keeping Up with the Joneses,” which centered on the misadventures of Aloysius P. McGinnis and his family, who were always trying to keep up with their never-seen neighbors, the Joneses.[1]

Investments Article

Simple Tips for Ramping Up Your Retirement Savings

No matter where you are in your life, saving for retirement is likely one of your most important financial goals. But, even if you have professional guidance and a clear strategy for your desired future, you could still be missing some straightforward ways to maximize your savings.

Investments Article

Markets Counting on Trump Tax & Economic Plans

Not a lot really happened in the month of April, except for the fact that we had some really good corporate earnings out. We had a confirmation that first quarter GDP was subpar at best, however, better than last years zero rate.

Listen

Watch

Video

Tax Clarity

Forward-looking tax planning can be a huge part of a successful retirement plan. Watch as Dean Barber reviews the basics of a forward-looking tax plan and the impact it can have on your retirement plan. 

Video

Choosing a Financial Advisor Video

Choosing the right financial advisor for your is an important process. Here are some things to consider when you're making your decision.

Video

Estate Planning

Estate Planning is an integral part of your overall retirement plan. Watch as Dean Barber discusses the importance of Estate Planning. 

Video

Long-Term Care vs. Life Insurance

Dean Barber breaks down the important differences in Long-Term Care and Life Insurance.

Video

Maximizing Your Social Security

Claiming Social Security can be complicated and if you don't look into your options before claiming you could be leaving potential Social Security income on the table.

Video

Savvy IRA Planning for Boomers

Dean Barber goes in-depth reviewing IRA Planning.

Video

Retirement Plan Checklist

Dean Barber discusses some of the questions from our Retirement Plan Checklist report. 

Video

Wealth Management 101

In this video, Dean Barber breaks down the comprehensive financial planning process. 

Video

Why We Plan

This brief video discusses why it's important to plan for your retirement.

Download

PDF Document

Retirement Plan Checklist

This checklist was created to give you a timeline of items that should be done prior to and during retirement.

PDF Document

Life Insurance vs. Roth IRAs

Life insurance and Roth IRAs, despite their many similarities, Roth IRAs and life insurance are very different, and the rules that apply to one doesn’t always apply to the other.

PDF Document

Looking at Financial Issues as Retirement Draws Near

If you have decided to retire, you have probably already addressed a host of financial questions with your financial advisor.

PDF Document

Women and Investing

Women investors face many challenges to building wealth and securing their financial future.

PDF Document

How Much Income Do You Actually Need in Retirement?

One of the most common questions that we get from clients who are considering retirement is, “How much income am I going to need to be comfortable?”

PDF Document

Choosing a Financial Advisor

Choosing a financial advisor may be one of the most important financial decisions that you will ever make.

PDF Document

Caring for Aging Parents

At some time in our lives, most of us find that parents, elderly relatives, and friends begin to need much more of our attention.

PDF Document

401(k) Action Steps

Every time you change jobs, you need to make some choices about what to do with your old 401(k) so that it keeps up with your financial needs.

PDF Document

Naming a Trust as the IRA Beneficiary

When it comes to individual retirement accounts and trusts, they can be extremely complicated and when they consolidate, things can go very wrong and may be very expensive to fix.

PDF Document

Elder Financial Abuse

Elder abuse occurs when a caregiver or someone in a relationship of trust with the elder intentionally causes, creates, or fails to prevent a risk of harm to an adult 60 or older.

PDF Document

6 Important Financial Strategies for Your 20s and 30s

Personal finance and investing is an enormous field that provides many options. investing and personal finance and to help them start thinking seriously about their financial future.

PDF Document

Inherited IRAs: Tips You Need to Know

Retirement planning is complicated. It’s a personal and situational endeavor with plenty of possible pitfalls in the way of success. As a beneficiary of an IRA, you may find yourself with many questions and concerns.

PDF Document

Giving Back with Planned Philanthropy

We created this special report to share some of the financial and social benefits of a proactive approach to philanthropy.

PDF Document

Components of a Quality Financial Plan

With all of the free “quick retirement calculators” available today, many investors are asking why they need the assistance of a financial advisor to prepare a complete financial plan.

PDF Document

41 Frequently Asked Questions About Retirement

Most people know a thing or two about retirement, but it can also be an intimidating time if baby boomers have not properly prepared and it’s filled with questions.

PDF Document

401(k) Survival Guide

Not sure what to do with your 401(k) when you retire or are nearing retirement? Once you retire, a plan for withdrawing those funds that provides a constant source of income that isn’t eaten up by taxes and other costly traps must be constructed

PDF Document

5 Things to Prepare for in Retirement

As emotional human beings, too often we tend to dwell on what has happened to us rather than trying to figure out what to do about the things that have happened, and working to ensure that they either do or don’t happen to us again. 

PDF Document

70 Things You Should Expect from Your Advisor

With so many wealth managers to choose from, it’s crucial that you understand your options and define your needs like you would with your family doctor, lawyer and other professional services.

PDF Document

The Importance of Bonds in a Quality Financial Plan

Bonds can be appropriate investment vehicles for retirees seeking income, but you should have a firm grasp of the numbers before embarking on the journey.

Social Security

Read

Retirement Article

Social Security Trust Fund in the News Again

You're probably aware that there are numerous issues surrounding the Social Security Trust Fund, and its ability to pay benefits into the future. Just this past April, the annual Social Security Trustees’ report pegs the trust fund to be depleted by 2035. There’s been a lot of talk about “fixes” for the system.

Investments Article

DIY Your Retirement, Can it Really Be Done?

There are thousands of online resources and books that claim to teach you how to DIY (do-it-yourself) your retirement. But is it really possible and does it work?

Retirement Article

Social Security Benefits to Increase in 2019

Last week the Social Security Administration announced a 2.8% Cost-of-Living Adjustment, or COLA, beginning in January 2019. It’s the biggest increase since 2012.

Retirement Article

Questions About Social Security?

We know Social Security is a complicated system with many rules, regulations, and year-over-year changes. That’s why we regularly bring you articles covering questions that might be top-of-mind for you on claiming your benefits.

Retirement Article

Are You Prepared to Claim Social Security?

On August 14, 1935 Social Security became reality and is now a major part of our retirement system and welfare system.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Retirement Article

When is My Social Security Break-Even Point?

The breakeven point for a single individual is a fairly simple calculation. The actuaries at the Social Security Administration designed the system so that a person living to the current life expectancy, based on the current mortality tables provided by the US government, will have received the same amount out of Social Security by everyone who reaches life expectancy age.

Retirement Article

Is Social Security Tax-Free?

A very common question we are asked at Barber Financial Group is if Social Security is tax free. The quick answer is: If the only income you have is Social Security you will not pay any taxes on your Social Security.

Retirement Article

What’s the Difference Between Retirement Age and Social Security Claiming Age?

Many people believe that the date that they should claim Social Security is synonymous with the day that they retire. However, nothing could be further from the truth.

Retirement Article

How is Social Security Taxed?

A common question we receive at Barber Financial Group is “How will my Social Security be taxed?”

Retirement Article

How do I get more Social Security?

Social Security is a very complex system. Social Security was originally formed to allow older workers to exit the workforce without the risk of running out of money in retirement, while allowing room for younger workers to come into the workforce.

Listen

Watch

Video

Maximizing Your Social Security

Claiming Social Security can be complicated and if you don't look into your options before claiming you could be leaving potential Social Security income on the table.

Download

PDF Document

Social Security Checklist

The Social Security Checklist is a guide to claiming your Social Security benefits and includes a short checklist to help you along the way.

PDF Document

Social Security Decisions Guide

Regardless if Social Security will or will not be your primary source of income in retirement, if you take your Social Security benefits at face value you could be leaving money on the table.

PDF Document

5 Things Retirees Should Know About Social Security

Social Security provides an important source of guaranteed income for most Americans. Choosing an appropriate claiming strategy is even more important under new Social Security regulations.

Taxes

Read

Retirement Article

New Retirement Bill, the SECURE Act

JoAnn Huber, our CPA, learned about a fascinating new retirement bill that has passed the House and is likely to pass the Senate because it is believed that only six senators today are against it. So, it’s likely to become law. To set the stage, this new retirement bill could impact tax law.

Retirement Article

Taxes in Retirement

It's the things that you think you know about, that just isn't so that gets you in trouble, and taxes in retirement is one of those things. Many people believe they're going to be in a lower tax bracket in retirement. Or that it doesn't matter where they get their income from in retirement, that it's all going to be the same.

Investments Article

Qualified Charitable Distributions and Your Taxes

Let's talk about QCDs, qualified charitable distributions. Now, QCDs are something that's been around for a number of years - yet hasn't been talked about. However, thanks to the Tax Cuts and Jobs Act, it's really become something that is a windfall to a lot of people if they understand how to utilize the QCD.

Retirement Article

Questions About Required Minimum Distributions (RMDs)

Our CPAs at Barber Financial Group often get questions about Required Minimum Distributions (RMDs). It’s a new thing for people. Once they turn 70½, they have...

Investments Article

DIY Your Retirement, Can it Really Be Done?

There are thousands of online resources and books that claim to teach you how to DIY (do-it-yourself) your retirement. But is it really possible and does it work?

Retirement Article

Could You Be Audited This Year?

There are certain pieces of mail that no one wants to see in their mailbox, and I’m not just talking about the normal electric bill. Notices of jury duty, legal matters, and one of the most dreaded pieces of certified mail?

Retirement Article

How Do I Pay Less Taxes?

Everyone in America who pays taxes feels like they have paid their fair share, and in some cases, far more than their fair share. This causes people to be very shortsighted when it comes to reducing your tax bill.

Investments Article

How Do My Investments Affect My Taxes?

The relationship between investments and taxes is perhaps one of the most overlooked areas of retirement planning. Decisions that are made on the investment side of your retirement plan will most likely have some type of impact on your tax return. Typically an investor will have three different tax buckets that they can...

Taxes Article

Tax Filing Errors to Avoid

The dawn of 2019 brings opportunities to create new resolutions or plans for the next 12 months — and also marks the beginning of tax season. While tax day on April 15th can seem far off, this year’s deadline will be here before you know it.

Taxes Article

The Impact of Health Care Taxes in 5 Easy Steps

Chances are you have heard about the 3.8% surtax that went into effect in 2013 under the Affordable Care Act – but do you know if and when you might need to pay it?

Taxes Article

Our Team of CPAs

Sound tax planning can be the foundation of a successful financial plan and it is this niche that BFG Tax Service fulfills. Our CPAs are well-versed in the minimization of taxes.

Investments Article

You Can Save More Money in Your IRA in 2019

Saving for retirement? Then we’ve got some good news. The IRA contribution limit will increase to $6,000 in 2019, up from $5,500 in 2018. Even better news for some, if you’re over 50 in 2019 you’ll be able to contribute $7,000, as compared to $6,500 in 2018.

Investments Article

Is a Roth Conversion Right for Me?

There is story after story about people who come into a bunch of money. Where problems can arise is when they don’t know what to do with it, they don’t understand the concept of money, and they don’t know how much they can safely spend.

Taxes Article

Year-End Tax Planning and QCDs

There are significant tax planning opportunities around this time of year, every year. The problem is that most people aren’t thinking about taxes right now.

Retirement Article

Taxes in Retirement Get More Complicated, Not Simpler

Most people believe that taxes are just a matter of fact, they are what they are.

Retirement Article

Will Reduced Withholdings Cause You to Owe at Tax Time?

In December 2017, Congress passed a major tax bill called the Tax Cuts & Jobs Act (TCJA) which resulted in lower federal income taxes for many Americans.

Estate Planning Article

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Estate Planning Article

Paying for a Grandchild’s College

It’s the season of graduations and that means heading to your child or grandchild’s high school or college to watch them cross the stage beaming with accomplishment.

Investments Article

Taking Advantage of Stretch IRAs

If you weren’t already aware, a huge benefit of an IRA is its capability to generate tax-favored money to beneficiaries.

Taxes Article

IRS Scammers Out In Full Force

It's déjà vu. Once again, there are warrants out for my arrest, although this year, I've gone coastal as the IRS supposed warrants out in the state of Florida AND Kansas. Impressed?

Investments Article

Determining Tax on Roth IRA Distributions in 5 Easy Steps

What are the ordering rules? Roth IRA distributions can consist of contributions, converted funds and earnings – or any combination of the three.

Retirement Article

2018 Tips for Tax Deduction and Credit Planning

Let’s face it – you will continue to pay taxes during your retirement. What most people are not aware of is that retirees have more control over their tax bill during these years than any other time of their life.

Investments Article

No More Roth IRA Do-Overs Under the New Tax Bill

Now that the Senate and the House of Representatives have both passed versions of the new tax reform law, one of the things that got the ax was Roth IRA recharacterizations after December 31, 2017.

Retirement Article

What You Need to Know About Tax Reform

This fall, the Senate and House released proposed legislation that would dramatically alter taxes in the United States.

Taxes Article

Tax Reform: What First In, First Out (FIFO) Means for Investors

You have probably heard much about the pending tax legislation and all the provisions that are being debated.

Investments Article

Fixing a Missed RMD in 5 Easy Steps

What is a missed RMD (required minimum distribution)? RMDs must be taken by IRA owners beginning in the year they turn age 70 ½ and by IRA...

Investments Article

Tax Reform Proposal Finally Unveiled

Note: After weeks of discussion, disagreements, and postponements, the House announced their plan for tax reform yesterday, November 2, 2017.

Estate Planning Article

Tips for Families Who Have Children with Special Needs

When beginning to build their families, few parents expect to have a child with special needs. However, the experience is surprisingly common and affects millions of people throughout the United States.

Estate Planning Article

4 Pillars of Retirement Translated

From time to time, a new prospect that I’m meeting with asks me what the 4 pillars of retirement are and how they relate to retirement planning.

Retirement Article

Is Social Security Tax-Free?

A very common question we are asked at Barber Financial Group is if Social Security is tax free. The quick answer is: If the only income you have is Social Security you will not pay any taxes on your Social Security.

Retirement Article

Will I Pay Taxes on My Inheritance?

There are many different forms of inheritance. Some will carry a tax burden while others will not.

Retirement Article

5 Strategies to Reduce RMDs

Nothing lasts forever. This includes tax deferral on your IRAs. Eventually, Uncle Sam is going to want his share and will require funds to come out of these accounts.

Retirement Article

How is Social Security Taxed?

A common question we receive at Barber Financial Group is “How will my Social Security be taxed?”

Watch

Video

Tax Clarity

Forward-looking tax planning can be a huge part of a successful retirement plan. Watch as Dean Barber reviews the basics of a forward-looking tax plan and the impact it can have on your retirement plan. 

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Retirement Plan Checklist

Dean Barber discusses some of the questions from our Retirement Plan Checklist report. 

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10 Ways to Avoid Common Tax Filing Errors

Filing your taxes can cause many headaches, just be sure to avoid mistakes. Here are 10 Ways to Avoid Common Tax Filing Errors.

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PDF Document

Tax Reduction Strategies

Here’s a list of a few tax strategies to consider that could improve your overall tax structure during your retirement years and for your beneficiaries inheriting your estate.

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Tax Planning

The countdown begins. Once the clock rolls us into 2019, tax season gets underway.