Retirement Planning Coeur D Alene ID

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. William C Waggoner, CFP®
(208) 667-1212
608 Northwest Blvd
Coeur d Alene, ID
Firm
D.A. Davidson & Co.
Areas of Specialization
General Financial Planning, Investment Management, Retirement Income Management, Wealth Management

Data Provided by:
Miss Janice K. Tymesen, CFP®
(208) 666-4514
2100 Northwest Blvd #260
Coeur d'Alene, ID
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Ronald L Glendening, CFP®
(208) 667-8998
2141 N Merrit Creek Loop
Coeur D Alene, ID
Firm
Pinkerton Retirement Specialis
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Service Professionals

Data Provided by:
Ronald L. Glendening (RFC®), CFP
(208) 667-8998
2141 Merritt Creek Loop
Coeur DAlene, ID
Company
Pinkerton Retirement Specialists LLC
Qualifications
Education: BAM.Div
Years of Experience: 11
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Compensation Plans

Data Provided by:
Mr. Geary M. Jerde, CFP®
(208) 762-3174
87 W Sargent Dr
Hayden Lake, ID
Firm
LPL Financial
Areas of Specialization
General Financial Planning, Investment Management, Investment Planning, Life Transitions, Retirement Income Management, Retirement Planning, Social Security Planning

Data Provided by:
Mr. Michael W. Armon, CFP®
(208) 665-4288
1233 W Northwood Center Ct
Coeur D Alene, ID
Firm
Smith Barney
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Medical/Dental Professionals

Data Provided by:
Mr. Matthew A. Lyman, CFP®
1038 Northwest Blvd
Coeur D Alene, ID
Firm
Merrill Lynch Bank & Trust Co., Fsb

Data Provided by:
Mr. Walter E. Beggs, CFP®
(208) 667-8998
2141 Merritt Creek Loop
Coeur d'Alene, ID
Firm
Pinkerton Retirement Specialis
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Service Professionals

Data Provided by:
Mr. Joseph R. Anderson, CFP®
1038 Northwest Blvd
Coeur d'Alene, ID
Firm
Merrill Lynch Bank & Trust Co., Fsb

Data Provided by:
Mr. William P. Dougherty, CFP®
(208) 773-3888
802 N Lincoln St
Post Falls, ID
Firm
Wealth Management Strategies, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning
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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