Feel that? It was Chat GPT Shifting the World
As 2022 wound down, one of the tasks I meant to do, but didn’t get done, was to write a blog post about how you can “do good” through financial planning. At BMG, our internal motto/culture is built on the saying, “Do Good by Doing Good.” (Yes, I know it’s not grammatically correct… ha.) When […]
SECURE Act 2.0: Key Retirement Plan Changes and What They Mean for You
The Secure Act 2.0 is a piece of legislation that builds upon the original Secure Act (Secure Act 1.0) and introduces additional changes to various retirement planning and savings aspects. Its purpose is to further enhance individuals’ retirement security and promote better future financial preparedness. The Secure Act 2.0 introduces several significant updates to retirement […]
Retirement Plans for Small Business
Rewarding top employees and retaining new hires is a challenge for all businesses in a time of rising wages and inflation. Small, privately held businesses face the additional challenge of limited resources and the inability to offer compensation tied to publicly traded stock (such as restricted stock units or options). Employees of such firms might […]
The Importance of Inclusive Financial Planning
Please take a moment, close your eyes, and imagine it is 2040… Female investors now control 70% of the wealth in the United States. If you are a practitioner, what does your firm look like? Did you build relationships with your female clients? Did you grow? Did you sell? Did you close up shop? If […]
Making an Impact With Charitable Giving: Giving Tuesday
Giving Tuesday was founded by the Belfer Center for Innovation & Social Impact in NYC in 2012. The goal was to create a movement around charitable giving that would counter Black Friday and Cyber Monday and kick off the holiday season with an increased emphasis on community engagement. This cause would be responsible for creating a platform […]
Building a Strong Future: Educating Your Children About Finances
At Texas Tech University, I have the privilege of serving as a financial coach for a service that offers free financial advice to fellow Texas Tech students. Through this role, I have encountered students facing various financial struggles, but they all share one common challenge: a lack of financial literacy. Many of these students seek […]
Does My Child Need To File An Income Tax Return?
As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, […]
The Need For a Plan
Did you know the average person spends more time planning for a vacation than they do for their own retirement? Additionally, financial stress is one of the leading causes of absenteeism and unproductivity at work, as well as one of the leading threats to personal relationships. Why is this? There are over a million explanations, but the primary cause is the failure to […]
Why is ESG Important And How Do We Use It?
There has been a lot of buzz, both positive and negative, around sustainable investing recently. So, why and how are Environmental, Social, and Governance (ESG) principals relevant to the investment selection process? For the research team at BMG, we look at ESG in two ways, managing investment risk and leveraging trends. ESG investing is not […]
Life Insurance: One Answer to Life’s Big What If?
What is important to you in life? Who or what do you care about most? What would happen to them if you were not here anymore? WHY LIFE INSURANCE? Life insurance is a way to lessen the financial risk of a death. You can never be replaced as a person…but, your family, loved ones, or […]
BMG Can Help Manage Your 401(k)
Is choosing your own investments in your workplace retirement something you wish you had help with? Is your workplace retirement plan invested to work in tandem with your other investments to get the results you desire? If you are asking yourself these questions, then the Individual Participant Advice (IPA) program could be a good fit […]
You’ve Had $10,000 in Student Loans Forgiven. Now What?
Well, step one would probably be to celebrate. Even if you disagree with the rationale for the forgiveness, the fact remains you’ve experienced a non-trivial financial windfall which you can leverage to help improve your future. Here are some options. Redirect the loan payment to other debts. If your cashflow situation has improved as a […]