Retirement Planning Bellingham WA

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.

Ronald Simmer
Simmer Financial Planning, LLC
(360) 380-0517
5765 Willow Springs Way
Ferndale, WA
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Mr. George E. Mundell Iii, CFP®
(888) 329-2211
2211 Rimland Dr. #116
Bellingham, WA
Firm
Morgan Stanley
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning

Data Provided by:
Jonathan P Ludeman, CFP®
(360) 738-9600
2115 Barkley Blvd
Bellingham, WA
Firm
Ludeman Capital Management, In
Areas of Specialization
Investment Management, Life Planning, Life Transitions, Real Estate, Retirement Income Management, Retirement Planning, Risk Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $50,001 - $100,000



Data Provided by:
Mr. Scott A Hume, CFP®
(360) 756-3504
3101 Newmarket St
Bellingham, WA
Firm
RBC Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Cross-Border Planning, Estate Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mark L Wallace, CFP®
(360) 647-0649
PO Box 31550
Bellingham, WA
Firm
Bay City Financial Services, Inc.
Areas of Specialization
Asset Allocation, General Financial Planning, Investment Management, Investment Planning, Securities, Young Professionals

Data Provided by:
Mr. Gene R. Bell, CFP®
(360) 671-1845
1700 Iowa St
Bellingham, WA
Firm
Gene Bell & Associates
Areas of Specialization
Accounting, Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Cross-Border Planning, Debt Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Mr. Marvin K. Degraaff, CFP®
(360) 734-4728
4164 Meridian St
Bellingham, WA
Firm
Waddell & Reed Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Steven M. Kersey, CFP®
(360) 510-6452
1101 Lakeview Street
Bellingham, WA
Areas of Specialization
Asset Allocation, Elder Care, Insurance Planning, Investment Management, Investment Planning, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. Phillip E. Multop, CFP®
(360) 671-7891
333 Calluna Ct Ste 205
Bellingham, WA
Firm
Professional Equity Management

Data Provided by:
Jonathan Block, CFP®
(360) 671-3372
PO Box 31306
Bellingham, WA
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Cross-Border Planning, Divorce Issues
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

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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