Retirement Planning Dubuque IA

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. Daniel M. Smith, CFP®
(563) 557-7600
PO Box 179
Dubuque, IA
Firm
Dupaco Credit Union

Data Provided by:
Mrs. Suzan M Martin-Hallahan, CFP®
(563) 557-7600
5865 Saratoga Rd
Dubuque, IA
Firm
Dupaco Financial Services

Data Provided by:
Mr. Brian D. Cose, CFP®
(563) 582-2855
3390 Asbury Rd
Dubuque, IA
Firm
Honkamp Krueger Financial
Areas of Specialization
Business Succession Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Management, Investment Planning, Long-Term Care
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 J. Kircher, CFP®
(563) 556-3392
815 Century Dr
Dubuque, IA
Firm
Jim Kircher & Associates PC

Data Provided by:
Mr. David J. Jansen, CFP®
(563) 556-7700
475 Cedar Cross Road
Dubuque, IA
Firm
NPC/EDSB

Data Provided by:
Bryan J. Knudson, CFP®
(563) 557-7965
3100 Cedar Crest Rdg Ste 8
Dubuque, IA
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Jamie W. Mcdonald, CFP®
(563) 585-1400
1635 Associates Dr Ste 103
Dubuque, IA
Firm
Heacock and Jones Financial Services, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, General Financial Planning, Insurance Planning, Investment Planning, Life Planning

Data Provided by:
Mr. Ronald F. Helle, CFP®
(563) 556-0123
2345 John F Kennedy Rd
Dubuque, IA
Firm
Honkamp Krueger & Co

Data Provided by:
Ms. Janice Y. LaBonne (RFC®), LUTCF
(563) 582-2855
2355 JF Kennedy Road
Dubuque, IA
Company
Honkamp Krueger Financial Services
Qualifications
Education: BS North Dakota State University : BusinessAAS Northland Community College : Legal Assistant
Years of Experience: 19
Membership
IARFC
Services
Invoice, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Education Plan, Healthcare Accounts, BuySell

Data Provided by:
Mr. John R. Darrah, CFP®
(563) 582-2855
3390 Asbury Road
Dubuque, IA
Firm
Honkamp Krueger Financial Svc

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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