Retirement Planning Kenosha WI

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.

Michael Haubrich
Financial Service Group, Inc.
(262) 554-4500
4812 Northwestern Avenue
Racine, WI
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Financial Issues Between Generations, Planning Issues for Unmarried & Same-Sex Couples, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Thomas Nowak
Quantum Financial Planning LLC
(847) 767-1682
31470 N. Ranch Road
Grayslake, IL
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, College/Education Planning, Socially Responsible Investments, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Edward F. Fitzpatrick, CFP®
(262) 657-2547
600 52nd Street #100
Kenosha, WI
Firm
Wells Fargo Advisors

Data Provided by:
Mr. Scott A. Larsen, CFP®
(262) 657-1040
6535 Green Bay Rd
Kenosha, WI
Firm
Retirement Planning Center

Data Provided by:
Mr. Mark W. Oechler, CFP®
(262) 697-7515
7500 Green Bay Rd
Kenosha, WI
Firm
Johnson Investment Services
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mary Erl
Nest Builder Financial Advisors, Ltd.
(847) 245-7483
1800 Nations Drive, Suite 117
Gurnee, IL
Expertises
College/Education Planning, Advising Employee Benefit Plan Participants, Newlyweds & Novice Investors, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Rick Elsen, CFP®
(262) 652-7535
5707 6th Ave
Kenosha, WI
Firm
Raymond James Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Bradly E. Potter, CFP®
(262) 657-7716
6300 76th St
Kenosha, WI
Firm
Andrea & Orendorff LLP
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Franklyn R. Deininger, CFP®
(262) 694-9560
4721 75th St
Kenosha, WI
Firm
Deininger & Co Inc
Areas of Specialization
Accounting, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Investment Planning, Long-Term Care

Data Provided by:
Mr. Michael G. Morrone, CFP®
(262) 656-3006
5027 Green Bay Rd Ste 106
Kenosha, WI
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning

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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