Retirement Planning East Lansing MI

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.

Richard Feight
IAM Financial, LLC
(888) 283-1392
2164 University Park Dr.
Okemos, MI
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Middle Income Client Needs, Retirement Plan Investment Advice, Investment Advice without Ongoing Management, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Elizabeth Baer
Elizabeth Rutter Baer, CFP INC
(517) 321-4832
334 Geneva Circle
Lansing, MI
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, Ongoing Investment Management, Retirement Plan Investment Advice, Helping Clients Identify & Achieve Goals, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Mr. C. Richard Herrold, CFP®
(517) 351-8600
1500 Abbot Rd Ste 150
East Lansing, MI
Firm
Financial Technology Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Myron S. Freeman Sr., CFP®
(517) 410-8686
6023 Sleepy Hollow Ln
East Lansing, MI
Firm
Freeman Advisors
Areas of Specialization
Accounting, Asset Allocation, Banking, Budget Development, Debt Management, General Financial Planning, Investment Planning

Data Provided by:
Mr. Jay P. O'Brien, CFP®
(517) 336-7200
1400 Abbott Rd
East Lansing, MI
Firm
Michigan Financial Group
Areas of Specialization
Charitable Giving, Estate Planning, Long-Term Care, Retirement Income Management, Retirement Planning

Data Provided by:
Ted Feight
Creative Financial Design
(517) 371-5100
2112 Tulane Drive
Lansing, MI
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Middle Income Client Needs, Women's Financial Planning Issues, Helping Clients Identify & Achieve Goals, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Gregory R. Walthorn, CFP®
(517) 336-7531
1111 Michigan Ave
East Lansing, MI
Firm
Plante Moran Financial Advisors
Areas of Specialization
Accounting, Asset Allocation, Comprehensive Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mrs. Amber L. Terakedis, CFP®
(517) 336-7521
1111 Michigan Ave Ste 101
East Lansing, MI
Firm
Plante Moran Financial Advisors

Data Provided by:
Mr. Eric B Waggoner, CFP®
(517) 853-3367
3497 Coolidge Rd Ste B
East Lansing, MI
Firm
Northwestern Mutual

Data Provided by:
Mr. Richard L. Greene, CFP®
(517) 337-0128
333 Albert Ave Ste 210
East Lansing, MI
Firm
Greene Wealth Management, LLC
Areas of Specialization
Business Succession Planning, 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: 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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