April 2025
Beth and Bill Franklin
Zach, Vada, Nikki, Lily, and in front, Will
Elijah, Shelby, and from left, Henry and Jackson
BFG Spotlight – Beth Franklin
Beth Franklin, insurance consultant and director of client relations at Benson Financial Group, had a childhood worth remembering.
“We had big imaginations, and we played a lot. We made mud pies, rode our bikes, and made homes under big old cedar trees,” Beth recalled, her eyes crinkled with memories.
Beth grew up on the same family farm near Spalding as her dad, and helped with various outdoor chores. Family and community are ingrained in Beth, who reflects her parents’ gentle and caring spirit. One of four children, Beth can barely recall her parents raising their voices as she grew up.
“I feel so blessed with such wonderful parents,” she said.
Trips to Hannibal to get water with her dad were highlights of her childhood.
“We took our big truck with the water tank on the back, listening to the 8-track tapes and singing along. Dad was a quiet person, but he loved people. When he went to town, he always had stops to make,” Beth smiled when remembering her dad, who passed away in December.
Beth’s community spirit became focused on service when she began working for State Farm Insurance at 19 years old. Throughout her 25 years at State Farm, Beth learned to connect insurance coverage to client needs.
“I had a great boss at State Farm,” she said. “He taught me all about insurance, but more importantly he taught me how to do what is best for my clients.”
Beth joined Benson Financial Group in 2011 and brought her insurance experience and high standard of service to the team.
Beth and her husband, Bill, have a longtime connection with Pat and Connie Benson, dating back to Monroe City High School. Bill and Pat were classmates, five years ahead of Beth, who also attended the school. Their connection grew when Bill worked on Connie’s father’s farm for several years.
“Billy and I had so much fun spending time with Pat and Connie,” she said.
When Beth felt the need for a change, Pat and Connie offered her a space to become an independent insurance agent under the umbrella of Benson Financial Group—along with their ongoing support as she grew professionally.
“When I was starting out, there were times I got nervous as I went through the training,” Beth said. “Pat and Connie would come in my office, shut my door, and we would just talk. They knew exactly how I felt since they started their own business from scratch. They believed in me when I doubted myself.”
Over 13 years later, Beth continues to give her best to clients. As an independent agent, Beth finds cost-effective insurance solutions, covering life insurance, personal property such as home and auto insurance, business protection plans, and Medicare supplements. Benson Financial Group’s faith and family-first culture also allows Beth to invest in what matters most to her.
Bill and Beth have two children, Zach (married to Nikki) and Shelby (married to Elijah), and five grandchildren: Lily, Will, and Vada (Zach and Nikki’s children), and Henry and Jackson (Shelby and Elijah’s children).
“As long as we are together—no matter what we do—that’s what I love the most in life,” Beth said.
Bill and Beth’s community ties came full circle in 2009 when they opened BB’s, a seasonal ice cream shop across from Monroe City High School. The idea had been on Bill’s mind for years, but their summers were spent traveling for their daughter Shelby’s pole vaulting competitions—where she set the state record all four years. After her junior year, Shelby decided not to continue the sport beyond high school, giving the family time to pursue a new venture.
“Billy always has something going on,” Beth said. “One day, he just said, ‘I’ve always wanted to open an ice cream shop. We don’t have anything like that in Monroe.’ I thought it sounded awesome, so we went for it. That’s how BB’s began.”
That conversation led to BB’s, a beloved local summer spot where Bill and Beth hire mainly teachers, and high school and college students, to help run the shop. Last year, their granddaughter even joined the team.
Beth enjoys gardening and traveling, especially to tropical locations, and is an active member at First Baptist Church in Monroe City.
She finds comfort in this verse:
Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God. And the peace of God, which transcends all understanding, will guard your hearts and minds in Christ Jesus. —Philippians 4:6-7.
“The verse highlights anxiety and then inserts the peace of God, and that helps me,” she said. “When I’m anxious, it might be because I’m not focused or I’m not where I need to be, but I know God is there and that I can get through it."
Insurance products offered through LPL Financial or its licensed affiliates.
Making Sense of Social Security: The Top Five Questions People Ask
by Ben Strother, PhD, BFG Financial Advisor
Social Security is not as complicated as it seems. However, with so many moving parts, it’s no surprise that people have questions.
Whether you are nearing retirement or just starting to think about it, the more you know about Social Security, the better decisions you can make about your future.
What is Social Security?
Social Security is a government-backed income stream designed to replace a portion of your working earnings in retirement. Your unique work history, age, and when you start taking payments determines your benefits.
Social Security also protects your spouse. Survivor benefits allow a widow or widower to receive their late spouse’s full benefit. If each of them received social security, the surviving spouse can retain the higher benefit.
Social security is not recommended as a sole retirement strategy, but it does serve as a reliable layer of income—replacing around 40% of an individual’s average lifetime income.
Here, we break down the top five most frequently asked questions about Social Security to help equip you for retirement.
1. Is Social Security Going Away?
No, Social Security isn’t disappearing. A common misconception is that Social Security is “running out of money.” While the Social Security trust fund is projected to face funding shortfalls in the future, this does not mean benefits will disappear.
Changes such as modifying benefit amounts or raising the full retirement age have been discussed, but Social Security remains a key source of retirement income for millions of Americans.
2. When Should I Start Taking Social Security?
The timing of when to claim Social Security benefits is an important decision. You can begin as early as age 62, but your benefits will be permanently reduced. Waiting until full retirement age—between 66 and 67, depending on your birth year—allows you to receive 100% of your benefit. If you delay until age 70, your monthly payout increases even further. Factors also include life expectancy and early retirement lifestyle.
3. Can I Work While Receiving Social Security?
Yes, but there are rules to consider. There is an earnings limit if you claim benefits before your full retirement age.
In 2025, if you are collecting early benefits and earn more than $23,400, Social Security will withhold $1 for every $2 you earn over that limit. However, once you reach full retirement age, you can work and earn as much as you want without reducing benefits.
This makes it possible to work while collecting Social Security and still receive the full benefit over time.
4. Will My Social Security Benefits Be Taxed?
Yes and no. It depends on your total income. Many retirees are surprised to learn that their Social Security benefits could be taxed, especially if they have other income sources such as pensions, investment withdrawals, or rental income. It’s a good idea to plan and consider strategies to minimize taxable income, such as drawing from tax-advantaged retirement accounts in a way that keeps your income below certain thresholds.
We can help you navigate these tax implications and maximize your retirement income.
5. How Much Will I Receive from Social Security?
The amount you receive from Social Security is based on your highest 35 years of earnings, your age when you begin collecting benefits, and cost-of-living adjustments. Generally, the longer you work and the later you claim benefits (up to age 70), the higher your monthly payout will be.
To estimate your future benefits, you can create an account on www.ssa.gov (https://www.ssa.gov) and review your personalized Social Security statement. This tool allows you to track your earnings history, see estimated benefit amounts at different claiming ages, and ensure your records are accurate. Keeping up to date on your Social Security statement can help you make informed decisions about your retirement strategy.
New Social Security Rules and Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)
Recent legislative changes have impacted how Social Security benefits are calculated for individuals who receive a pension from non-Social Security-covered employment. Historically, the Windfall Elimination Provision (WEP) reduced Social Security benefits for people who worked in jobs where they did not pay Social Security taxes—such as teachers or government employees—while also earning Social Security-covered wages elsewhere.
Similarly, the Government Pension Offset (GPO) reduced or eliminated spousal and survivor benefits for these individuals. New legislation has updated these provisions, particularly benefiting teachers and government workers. Many of these individuals will now receive more of their Social Security benefits than before, and some will no longer face reductions. This change provides a much-needed financial boost for retirees previously impacted by these provisions. If you have worked in both covered and non-covered employment, it is important to review your Social Security statement to understand how these changes may impact your benefits.
Benson Financial Group is not associated with the Social Security Administration or any other
government agency.
BFG Team Attends Kingdom Advisors Conference
In February, several advisors and team members from Benson Financial Group attended the Kingdom Advisors conference in Orlando.
Kingdom Advisors is an organization that equips Christian financial professionals to integrate their faith and biblical principles into their work while serving clients of all backgrounds. It has also been instrumental in shaping the faith-driven investing approach offered at BFG.
The BFG team has made the conference an annual tradition for about six years. The three-day gathering connects financial professionals nationwide for worship, speakers, and break-out sessions dedicated to spiritual and professional growth.
This year’s conference featured twelve speakers who delivered wisdom, laughter, and inspiration. Among them were Randy Alcorn, best-selling author and Kingdom Advisors co-founder; Pastor Louie Giglio; Tim Tebow, professional athlete and philanthropist; and Chief Economist Brian Westbury. Past conferences have featured entertainers like Chris Tomlin and Jeremy Camp.
But the conference is much deeper than impressive speakers and performers.
From left, Mary and Steve Hill, Aaron and Andrea Hill, Jeriod and Leah Turner, Pat Benson, Justin Gibson, Jason Nichols, and Landon Nichols.
Pat Benson, BFG founder and advisor, said a defining moment for him at the conference was when Tim Tebow described what it means to be a Kingdom Advisor. He responded, “Advising on behalf of the King—King Jesus.”
That simple yet profound statement reflects the heart of Benson Financial Group’s mission—serving clients with integrity and purpose in a way that honors God.
“The event is unlike any other industry gathering,” Pat said. “While many financial conferences focus solely on technical knowledge and industry trends, Kingdom Advisors places faith at the forefront.”
The conference is the pinnacle of values they learn year-round from Kingdom Advisors with other local financial professionals in Hannibal who regularly meet for Bible studies dedicated to integrating their faith and profession.
“Joining other advisors in the area with a shared goal to grow closer to God and serve clients with integrity is a great gift,” Pat said.
Quarterly Anniversaries
We’re celebrating the dedication and hard work of our team members.
Tim Miller, one of our financial advisors, had his 3-year anniversary in January.
Paul Littleton is our client account coordinator who celebrates his 9-year anniversary in February.
Thank you both for your commitment to serving our clients and making BFG a great place to be!
Tim Miller
Financial Advisor
Paul Littleton
Client Account Coordinator
Upcoming Holidays & Closings
Please note that our office will close in observance of Good Friday on April 18, 2025. Benson Financial Group, along with the markets, will reopen on Monday, April 21, at 8:30 a.m. The love of our Savior, Jesus Christ, extends to all of us. We are humbled and moved to know that the blessings of His resurrection can be experienced by all of us as we prepare to celebrate another Easter. Wishing you and yours a bright and joyous Easter and Spring!
