Retirement Planning Anchorage AK

Planning ahead for retirement is vital for people of all ages who wish to be financially independent once they opt to retire. Money can be allocated to investments or set aside in savings plans in order to avoid being used too early, though investments do involve some degree of risk. Many people save for retirement through employer-sponsored defined contribution plans, such as IRAs, 401(k)s, and profit sharing plans. Other types of plans and DIY retirement planning are also options and all of the available avenues are generally characterized by tax advantages.

Mr. Michael R. Hanrahan, CFP®
(907) 276-0457
PO Box 92843
Anchorage, AK
Firm
Hanrahan & Associates, LLC.
Areas of Specialization
Accounting, Business Succession Planning, Divorce Issues, Education Planning, General Financial Planning, Retirement Planning, Small Business Planning

Data Provided by:
Luke Merriner, CFP®
(907) 257-0216
3900 C St Ste 502
Anchorage, AK
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Comprehensive Financial Planning, Employee and Employer Plan Benefits, Retirement Income Management, Wealth Management

Data Provided by:
Mr. Ryan R. Callaway, CFP®
(907) 276-1911
1400 W. Bensen Blvd.
Anchorage, AK
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Mr. Wayne M. Pichon, CFP®
(907) 258-6565
3900 C St Ste 502
Anchorage, AK
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Medical/Dental Professionals

Data Provided by:
Mr. William B. Stokes, CFP®
(907) 646-0900
7750 King St
Anchorage, AK
Firm
Stokes Financial Services,LLC
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Insurance Planning, Long-Term Care, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Ms. Helen M. Sedlacek, CFP®
(907) 278-8878
3601 C Street
Anchorage, AK
Firm
Mikunda Cottrell & Co CPAs

Data Provided by:
Mr. Levi Burdette Robinson, CFP®
(907) 261-5957
3000 A St Ste 100
Anchorage, AK
Firm
UBS Financial Services, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Investment Planning, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Mr. Michael W. Shamburger, CFP®
(907) 646-7374
3601 Cst, Suite 600B
Anchorage, AK
Firm
Foundations Asset Management

Data Provided by:
Mr. Charles M. Adams Jr., CFP®
(907) 261-5944
3000 A Street
Anchorage, AK
Firm
UBS Financial Services

Data Provided by:
Ms. Margaret R. Price, CFP®
(907) 257-0216
3900 C Street
Anchorage, AK
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Insurance Planning, Retirement Income Management
Key Considerations
Average Net Worth: $5,000,001 or more

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

Retirement Planning

By: Jonas Zamora
Jonas Zamora is a Certified Financial PlannerTM professional. You may contact him at jzamora@zacks.com

Closing in on retirement?

Are you closing in on retirement? If your goal is to retire in the next five years, you are in that critical stage in the retirement planning cycle. You have to take care of details like your 401(k) distributions or rollover, exercise of stock options, pension distributions, and when to take social security payments. Then there's figuring out what you need to draw out of your investments when that big day arrives. What you do in the first five years after retirement will also play a key role over the following 25-30 years.

First, let's discuss your first steps five years before going off into retirement bliss:

1. Put more money away. I read an article that says we are saving too much for retirement. That is bunk! Let's say your retirement target is 65 years of age. Most of you will be able to and should contribute extra to your 401(k) after reaching 50 years of age. That amount is $15,500 per year plus catch up amount of $5,000. Over a 15-year time frame for someone who is 50 years old today, assuming a 7% annual return, the savings by age 65 amounts to over $500,000. Without the extra $5000 in contributions, you would only have around $376,000.

2. Over the last year to two years before retirement, consider being more conservative in your 401(k). Don't leave a majority of these assets in employer stock! If the market takes a nosedive, you still have a great base to invest and live off of when you retire. Diversify.

3. Remember to exercise those in-the-money stock options. Many folks get so excited about their last day at the office, they forget about exercising the valuable stock options while still profitable.

4. Place money in an emergency fund with 1-2 years worth of living expenses in a cash or CD account....

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