Retirement Planning Lawrence KS

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.

Stephen C Lane, CFP®
(785) 749-1881
PO Box 1881
Lawrence, KS
Firm
LPL Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Investment Management, Small Business Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Emily B. Hill, CFP®
(785) 749-1111
1429 Oread West
Lawrence, KS
Firm
Morgan Stanley
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $5,000,001 or more

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Phillip A. Rademacher, CFP®
(785) 865-5308
515 Rockledge Rd
Lawrence, KS
Firm
Rademacher Financial Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. John V. Oberzan, CFP®
(785) 865-5308
515 Rockledge Rd
Lawrence, KS
Firm
Raymond James Financial Services, Inc.
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Investment Planning, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Ms. Wun Wun (Lynn) Hui, CFP®
(785) 865-0878
2027 E 26th St
Lawrence, KS
Firm
HUI Financial Group, LLC

Data Provided by:
Mr. Peter D. Knutson, CFP®
(785) 841-4664
2500 W 31st St
Lawrence, KS
Firm
McDaniel and McDaniel Financial Services, Inc.

Data Provided by:
Ms. Peggy Johnson, CFP®
(785) 841-2985
3200 Mesa Way
Lawrence, KS
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, LGBT Individuals and Couples, Life Planning

Data Provided by:
Ms. Margaret K. Stenseng, CFP®
(785) 841-7676
2601 W 6th St Ste B1
Lawrence, KS
Firm
Waddell & Reed

Data Provided by:
Mrs. Victoria M Bogner, CFP®
(785) 841-4664
2500 W 31st, Suite B
Lawrence, KS
Firm
McDaniel Knutson Financial Partners
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Business Executives

Data Provided by:
Mr. Edward K. Zeller, CFP®
(785) 841-4664
2500 West 31st Street
Lawrence, KS
Firm
McDaniel Knutson Financial Partners

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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