Baughman Financial Services, Inc. is your #1 Choice for Premium Financial Services.
With more than fifty years of experience, Keith Baughman, President & CPE is here to make sure that you’re financial future is bright! Keith is a member of the National Association of Financial Advisors and he has won numerous awards for excellence in the insurance industry.
We specialize in helping our clients understand their current financial situation and how the right planning and products can vastly improve your financial forecast. We work with our clients to develop a clear strategy for financial growth and long term stability.
Join Our Family
When you work with Baughman Financial Services,Inc. you become part of our family. Most of our clients have been with us for more than ten years. We are proud to serve our local community and look forward to making you a part of our family too!
– Keith Baughman
We are happy to help you with the following insurance needs:
Auto Insurance, Health Insurance, Life Insurance, Retirement Planning, Disability Insurance & Long Term Care
There are many mistakes that consumers make when shopping and buying insurance and we want to help you avoid making them too! Here are the top 3 (ref. Excapsagroup.com):
There are a lot of options when it comes to insurance from whole life to term insurance. Making the right decision is key. We will take you through the necessary steps to understand the choice that’s right for you and your family.
It’s important to set a budget and be confident that you can afford to keep paying it consistently. We’ll help you develop a budget that suits your lifestyle and allows you to make smart decisions for your future.
Life Insurance is not something you should put off indefinitely. This does not mean you should rush your decision but the longer you wait, the higher your rates will be and you never know what the future might hold and how that can affect your options. Once you have decided that life insurance is a good idea you should begin your search. This will allow you enough time to make an educated decision with the help of an experienced advisor.
Understanding IRAs An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you’re contributing to a 401(k) or other plan at work, you should also consider investing in an IRA. What types of IRAs are available? The two major types of IRAs are traditional IRAs and Roth IRAs. Both allow you to contribute as much as $5,000 in 2013 and 2014. You must have at least as much taxable compensation as the amount of your IRA contribution. But if you are married filing jointly, your spouse can also contribute to an IRA, even if he or she does not have taxable compensation. The law also allows taxpayers age 50 and older to make additional “catch-up” contributions. These folks can contribute up to $6,000 in 2013 and 2014. Both traditional and […]
The Roth 401(k) Employers can offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you’re lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your retirement income. What is a Roth 401(k)? A Roth 401(k) is simply a traditional 401(k) plan that accepts Roth 401(k) contributions. Roth 401(k) contributions are made on an after-tax basis, just like Roth IRA contributions. This means there’s no up-front tax benefit, but if certain conditions are met, your Roth 401(k) contributions and all accumulated investment earnings on those contributions are free from federal income tax when distributed from the plan. (403(b) and 457(b) plans can also allow Roth contributions.) Who can contribute? Unlike Roth IRAs, where you can’t contribute if you earn more than a certain dollar amount, you can make Roth contributions, regardless of your salary level, as soon […]
Can You Afford to Retire Early? Historically, most Americans have considered 65 to be their target retirement age. This is likely the result of past Social Security laws, which provided full benefits beginning at age 65. However, many workers today are retiring at an increasingly earlier age. In just the last few years, for example, the average retirement age has fallen to age 63. And many younger workers are planning to retire even earlier; in fact, according to a recent study by the Employee Benefit Research Institute, more than a third of today’s workers plan to retire before age 64. What You Give Up An early retirement often comes at a cost. Here are a few of the financial results of early retirement that you must consider carefully: Not only are Social Security benefits reduced for early retirement, but the age at which full benefits begin is being gradually raised […]
Understanding Term Life Insurance In days gone by, life insurance used to be simple. You figured out how much death benefit you needed, and then you chose between term and whole life. The life insurance industry has gotten a whole lot more complicated in recent years. Besides term and whole life (now often called “permanent life”), there are universal policies … variable universal policies … variable life … even a new type of term life called “return of premium”. How can you weigh your options and decide which type is right for you? This article introduces you to the concept of term life insurance. Term Insurance: An Overview Term life insurance is often referred to as “pure insurance” because its premise is very simple: You pay a premium to an insurance company in exchange for their promise to pay a death benefit to your survivors if you die while the […]