News from Kampstra Wealth Management

Protecting Benefit Plans from Cybersecurity Threats
Many plan sponsors focus on external cybersecurity threats, such as hackers attempting to breach their systems, but disgruntled employees can also pose a risk.

How to Make the Tax Code Work for You
When you take the time to learn more about how it works, you may be able to put the tax code to work for you. A good place to start is with two important tax concepts: credits and deductions.

Portability Services Network Expands Impact
The Portability Services Network (PSN), which began with three of the biggest recordkeepers in the country just over a year ago, has now grown to include three additional providers, covering over 15,000 retirement plans and 5 million members.

Your Guide to a Financially Healthy New Year
Reexamining your finances at the start of the year may not seem as exciting as making a commitment to healthier habits or fitness objectives, but financial wellness is closely related to both mental and physical health. You might be surprised at how simple it is to take charge of your finances.

Supreme Court Declines Arbitration Case: What Plan Sponsors Need to Know
The Supreme Court has again declined to address whether ERISA disputes can be resolved through arbitration, leaving plan sponsors with more questions than answers. Here’s what they can do to mitigate risks.

I-Bond Rates Drop: Is It Time to Reassess Your Investment?
In 2022, many investors turned to U.S. Treasury I-Bonds as a safe and attractive option when inflation rates were soaring. However, with inflation cooling in recent months, the situation has changed.

What Retirement Planning Isn’t
Americans believe they need nearly $1.5 million to retire comfortably, a number that has soared by more than 50% since 2020, according to Northwestern Mutual’s 2024 Planning & Progress Study. Yet the Employee Benefit Research Institute reports that only about half of workers have actually calculated their retirement needs.

Rate Cuts and Retirement: Navigating Change
The Federal Reserve’s recent 50 basis point interest rate cut, with more reductions expected by year’s end, may leave employees wondering what it means for their retirement savings — and their overall financial picture

Harvesting Financial Lessons
Thanksgiving offers more than just family gatherings and meals—it encourages reflection on finances with gratitude. The holiday can inspire better financial habits, such as managing holiday expenses wisely and practicing mindful spending

Increasing 401(k) Balances Can Bring Increased Risk
By the second quarter of this year, the number of “401(k) millionaires” rose 2.5% from Q1, marking a record high according to Fidelity. At the same time, retirement savers overall experienced three consecutive quarters of growth — and that’s good news for many investors. However, a Vanguard analysis of its plans also shows a concerning trend.
News Archive
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