Posts by Mark Hegstrom, Waterfront Financial Group
Choosing a Retirement Plan that Fits Your Business
One survey found that 79% of small business owners expect at least some of their retirement income to come from tax-advantaged retirement savings accounts.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.…
Read MoreWhere Will Your Retirement Money Come From?
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…
Read MoreStudy: Employees Are Financially Stressed and What it Means to your Business
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…
Read MoreWhy Retirement Readiness is Not Just a Catch-Phrase
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…
Read MoreHealthcare Costs in Retirement
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.…
Read MoreChoosing a Retirement Plan that Fits Your Business
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…
Read MoreGood Health is Good Business
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…
Read MoreProtecting Your Business From the Loss of a Key Person
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…
Read MoreA Bucket Plan to Go with Your Bucket List
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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