Retirement Planning Grand Island NE

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.

John W Posey, CFP®
(308) 382-5720
615 W 1st St
Grand Island, NE
Firm
Contryman Wealth Advisors
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Planning, Young Professionals

Data Provided by:
Mr. Richard G. Van Zyl, CFP®
(308) 384-5350
2015 N Broadwell Ave
Grand Island, NE
Firm
American Portfolios

Data Provided by:
US Bank - 3rd & Main Office
(308) 389-4017
424 W Third St
Grand Island, NE
Languages
Spanish

US Bank - Grand Island - 314 North Walnut Drive-Up Office
(308) 389-4060
314 N Walnut
Grand Island, NE
Languages
Spanish
Drive Up Hours
Mon 08:00 am to 05:30 pm
Tue 08:00 am to 05:30 pm
Wed 08:00 am to 05:30 pm
Thur 08:00 am to 05:30 pm
Fri 08:00 am to 05:30 pm
Sat 09:00 am to 12:00 pm

Wells Fargo - Conestoga Mall
(308) 382-2049
3404 W 13Th St
Grand Island, NE
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-04:00 PM
Sun Closed

Mr. Mark J Allen, CFP®
(308) 385-1500
3032 W Stolley Park Rd
Grand Island, NE
Firm
Allen Capital Group, LLC
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Investment Management, Retirement Planning, Tax Planning

Data Provided by:
Mr. Vernon D. Robbins, CFP®
(308) 382-6251
732 N Diers Ave
Grand Island, NE
Firm
Vernon D. Robbins, CPA, PC
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Tax Planning
Key Considerations
Profession: Self-Employed Business Owners

Data Provided by:
Wells Fargo - Grand Island Main
(308) 382-4800
304 W 3Rd St
Grand Island, NE
Type
Branch
Office Hours
Mon-Fri 09:00 AM-05:00 PM
Sat 09:00 AM-12:00 PM
Sun Closed

Wells Fargo - Second Street
(308) 382-3366
920 W 2Nd St
Grand Island, NE
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-02:00 PM
Sun Closed

US Bank - Webb Office
(308) 381-7554
2121 N Webb Rd
Grand Island, NE
Drive Up Hours
Mon 08:00 am to 05:30 pm
Tue 08:00 am to 05:30 pm
Wed 08:00 am to 05:30 pm
Thur 08:00 am to 05:30 pm
Fri 08:00 am to 05:30 pm
Sat 08:00 am to 12:00 pm

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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