News from Kampstra Wealth Management
What is Slowing Down Supply Chains?
You have probably been told multiple times to finish your Christmas gift ordering early this year “due to supply chain issues”. But what is causing the slowdown? Two main causes are JIT and traffic jams.
401(k) Investment Menu Philosophy
One of our specialties is working with company stakeholders to craft retirement plan benefits that create successful outcomes for all. We have to have success on multiple fronts; investment performance, plan design and employee financial wellness to name a few. Read how we tailor our 401(k) investment menus for workplace retirement plans.
Estate Planning
Estate planning can be one of the most misunderstood aspects of financial planning, however, it’s a vital part to ensure your assets and family are protected. Unfortunately, common myths convince many they don’t need to create or update an estate plan. Here are some estate planning myths and the reasons why having a documented plan is important for everyone.
2022 Medicare Enrollment Season
Don’t miss the annual open enrollment season for Medicare, which this year runs from October 15 through December 7.
What’s the Scoop? Tax Credits?!
Overview of tax credits available for starting up a new employer-sponsored 401(k) plan.
COVID Brings Social Security Closer to Insolvency
Social Security’s long-term funding has been a concern for some time now. The Social Security Board of Trustees’ annual report released earlier this month indicates that if Congress doesn’t take action to address funding, benefits will be cut to 78 percent by 2034. This is one year sooner than previously projected, due in late part to COVID-19 drastically impacting American’s incomes and thus payments into the Social Security fund.
Why You Shouldn’t Hire Your Payroll Provider to Manage Your 401(k) Plan
While bundling the 401(k) with your payroll provider appears to be ‘easy’, it could turn into a nightmare down the road. There are several important reasons you should look elsewhere, consider the following . . .
The Cycle 3 Restatement and What it Means for Your 401(k) Plan
Every 6 years the Internal Revenue Service (IRS) requires business owners to update their 401(k) plan document (aka plan rule book) to catch up the plan on all recently passed legislation. You have until July 31, 2022 to make the necessary changes. It’s imperative to review your current plan design to make sure it matches the goals of your business and employee benefits offering. Below is a list of plan features that we’re reviewing with our business owner clients.
Should You Use Your Retirement to Pay for College?
College costs have exploded over the last twenty years. Most parents and some grandparents find themselves fighting a battle on two fronts: saving for retirement and college at the same time.
Is it worth tapping your IRA to help pay for college?
Late-Stage College Planning
If your child is approaching college and you’re behind on education savings, it can feel like hitting the snooze button too many times. But it’s okay — there’s still some time to potentially address college costs.
Here are a few basic tips to save some money when you’re up against the college deadline.
News Archive
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Address
37 S. 5th Street
Gettysburg, PA 17325
Phone (717) 334-0097
Fax (717) 334-9203