News from Kampstra Wealth Management
Measuring Financial Wellness
Establishing financial wellness metrics has become increasingly important over the last year. The COVID-19 pandemic has created economic hardships for many American families, depleting emergency funds for some and forcing others to take on additional debt to cover necessary expenses. At work, the resulting stress can lead to increased absenteeism, decreased productivity and greater health care costs for plan sponsors.
Social Security Bump
It’s now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.
Debt vs. Savings – The Million Dollar Question
better to use my income to pay off debt or save for retirement?” Not all debt should be treated equally. The trick to knowing when to prioritize debt over savings vs. savings over debt lies in whether it’s “good debt” or “bad debt,” as well as the interest rate associated with it.
To Bundle or Not to Bundle — What’s Best for Your Business Is the Question
Whether to use bundled or unbundled service providers is an important decision for your retirement plan. A fully bundled arrangement provides an easy, one-stop shop for services, while unbundling separates functions and uses a third-party administrator (TPA), distinct...
How to Choose the Right Executor for your Will
Most of us recognize the importance of creating a thorough, well-reasoned estate plan. But, we may not give adequate thought to choosing the right executor to carry out the provisions of our wills.
Annuity Income Products in Retirement Plans
In-plan annuities are being revisited as a viable option. Learn about how these products work.
Child Credit Protection
But many victims of identity theft crimes are children. Why?
Their credit typically goes unmonitored! Since most children will not yet
have any credit history, criminals can fraudulently establish a “clean credit
slate” for themselves, which can go unnoticed for years.
When You Become the Bank of Mom or Dad
You give your time, money, and love to raise your children to be self-sufficient. So, what do you do when your now-adult-child asks for financial aid?
Cybersecurity for your Retirement Account
Online cybersecurity tips to keep your retirement account safe
Why Should You Consider Personal Disability Insurance?
The Social Security Disability Insurance program is expected to exhaust its reserves at the end of 2035 if changes aren’t made. Rather than depending on a government program to protect their income in the event of a disability, many individuals prefer to protect themselves with personal disability insurance.
News Archive
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