The Business Mentoring Center
The Business Mentoring Center

Corporate Cranium Mentor Articles

Where Will Your Retirement Money Come From?

By Mark Hegstrom, Waterfront Financial Group | August 6, 2018

Tip: Retiring Older. One survey found 22% of baby boomers have found it difficult to pay mortgages or rent and have postponed plans to retire. Source: Insured Retirement Institute, 2018 For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for 10 years. Benefits are based on each worker’s 35 highest earning years. If there are fewer than 35 years of earnings, non-earning years are averaged in as zero. In 2017, the average monthly benefit was estimated at $1,360.¹ Personal Savings and Investments Personal savings and investments outside of retirement plans can provide income during retirement. Retirees tend to go for investments that offer monthly guaranteed income over potential returns.² Individual Retirement Accounts Traditional IRAs...

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Study: Employees Are Financially Stressed and What it Means to your Business

By Mark Hegstrom, Waterfront Financial Group | April 24, 2018

I read in the paper today (Star Tribune, 1/1/2018: “Helping workers solve money angst”) some amazing figures.  According to the surveys that were cited, there are a considerable number – a third – of employees who feel uncertainty about money.  These folks think we will be going into a recession this coming year. This is…

Why Retirement Readiness is Not Just a Catch-Phrase

By Mark Hegstrom, Waterfront Financial Group | August 1, 2017

Many employees are confused about retirement and are unprepared to retire on time.  According to the National Institute on Retirement Security (March 2015), 45% of working-age households do not have a retirement account of any kind (e.g. IRA or 401(k)), and the average working-household has virtually no retirement savings – only $2,500 average – when…

Healthcare Costs in Retirement

By Mark Hegstrom, Waterfront Financial Group | October 1, 2016

American workers are split about 50/50 when asked if they are confident they will have enough money to pay for medical expenses in retirement. In a 2015 survey, 42% of all workers reported they were “not too” or “not at all” confident they would have enough money to pay for their medical expenses in retirement.…

Choosing a Retirement Plan that Fits Your Business

By Mark Hegstrom, Waterfront Financial Group | August 1, 2016

One survey found that the most pressing financial concern facing 42% of small business owners is developing a retirement plan and exit strategy.¹ If you have yet to develop a retirement plan for your business, or if you’re not sure the plan you’ve chosen is the right one, here are some things to consider. How…

Good Health is Good Business

By Mark Hegstrom, Waterfront Financial Group | October 1, 2015

Approximately 27% of payroll for U.S. employers is attributable to health and productivity costs.¹ Business owners and managers understand very well the rising cost of health care and the loss of productivity associated with absenteeism and employee disengagement. Which is why 89% of employers surveyed by Optum, a health management consulting firm, believe that offering…

Protecting Your Business From the Loss of a Key Person

By Mark Hegstrom, Waterfront Financial Group | February 1, 2015

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can represent the potential for significant financial loss. Though business owners…

A Bucket Plan to Go with Your Bucket List

By Mark Hegstrom, Waterfront Financial Group | November 1, 2014

The baby boomers have re-defined everything they’ve touched, from music to marriage to parenting and more lately what “old” means—60 is the new 50! Longer, healthier living, however, can put greater stress on the sustainability of retirement assets. There is no easy answer to this challenge, but let’s begin by discussing one idea—a bucket approach…

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