The Goff Financial Group

Fee Only Financial Advisors

Pension Lump-Sum vs. Annuity: Which to Choose?

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One of the questions we often get from our clients is, “Should we take the lump-sum option or the annual payments when receiving distributions from our company pension plan?” Just like deciding whether to “buy or rent”, there are several factors in play in determining the best course of action. Let’s first go over these [...]

The Hidden Cost of Owning Too Many Investments – Part 1

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Assuming you invest in individual stocks and/or mutual funds, what is one of the first questions you should ask if you want higher investment returns? The answer is, “Do I own too many investments?” This is an essential question because of the potential hidden costs of owning too many investments, also known as over-diversification. While [...]

Inflation and Retirement

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Inflation – even minor inflation – reduces purchasing power over time. Like the famed economist Milton Friedman once said, it's the hidden tax that creeps up on us because it is not legislated. Inflation slowly reduces the dollar's value, meaning each dollar will buy less and less. Many people look to the Bureau of Labor [...]

How To Select A Financial Advisor

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Types of Financial Advisors (and which ones you should avoid) Types of Advisors Before beginning your search, it is essential to understand the difference between financial professionals, many of which may be called "financial advisors." We've all gone to the doctor's office, but just because they are in the business of medically healing patients, not [...]

Sequence of Returns Risk

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When buying a home, you probably know a lot of the potential risks such as the risk your home will go down in value over time or the risk that your home will require a lot of maintenance after purchase.  In the same way, knowledgeable investors are aware that investing in the capital markets presents any number of risks – interest-rate risk, company risk, and market risk. Risk is […]

Learning from Biases and How They Affect Our Financial Choices

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“Men willingly believe what they wish.” – Julius Caesar  The Roman Emperor Julius Caesar was alluding to bias, which happens when individuals process information around them and then stick to their preconceived ideas. Bias can happen in financial matters too, and even the most seasoned investors are subject to them. When dealing with emotions, investors are [...]

Tuning Out the Noise from the Financial Media

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Image used under license from Freestock.com When asked what to watch out for when it comes to investing, clients may expect us to tell them about a specific stock to avoid, or something similar. But our answer is often far different. One of the biggest things you may want to watch out for is actually the financial media. [...]

What Are Stock Splits?

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What Are Stock Splits?Here’s what you need to know. Two high-profile companies—Apple and Tesla—have announced stock splits in the past few weeks, which makes it a great time to discuss what’s involved when a company announces a stock split. Remember, any companies mentioned are for illustrative purposes only. It should not be considered a solicitation [...]

Small Business Retirement Plans

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How do you pick the most appropriate retirement plan for your business as well as your employees? As a small-business owner, figuring out retirement choices can be a little intimidating.The SECURE Act and CARES Act may complicate the decision. There are three main types of retirement plans for small businesses: SIMPLE-IRAs, SEP-IRAs, and 401(k)s. Read […]

Why You Might Want to Create a Donor-Advised Fund

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Do you regularly donate to charities and other non-profit organizations? Then you may want to open a Donor-Advised Fund. Donor-Advised Funds are becoming popular. It is easy to see why. They offer potential tax perks, and in some instances, a chance to grow money set aside for charitable gifting.1,2 It is all too easy to […]

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