Retirement Planning Lebanon OR

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. Blair C. Hill, CFP®
(541) 231-3385
3178 Pacific Pl SW
Albany, OR
Firm
Nationwide Retirement Solution

Data Provided by:
Tyler Lulay, CFP®
(503) 769-7017
1171 N 1st St
Stayton, OR
Firm
Raymond James Financial
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Investment Management, Retirement Income Management

Data Provided by:
US Bank - Lebanon - Southgate Office
(541) 258-2137
2856 S Santiam Hwy
Lebanon, OR
Drive Up Hours
Mon 08:30 am to 06:00 pm
Tue 08:30 am to 06:00 pm
Wed 08:30 am to 06:00 pm
Thur 08:30 am to 06:00 pm
Fri 08:30 am to 06:00 pm

US Bank - Santiam - Albany Office
(541) 967-3732
2650 Santiam Hwy SE
Albany, OR
Languages
Spanish
Drive Up Hours
Mon 08:30 am to 06:00 pm
Tue 08:30 am to 06:00 pm
Wed 08:30 am to 06:00 pm
Thur 08:30 am to 06:00 pm
Fri 08:30 am to 06:00 pm
Sat 09:00 am to 01:00 pm

Wells Fargo - Sweet Home
(541) 367-2132
1266 15Th Ave
Sweet Home, OR
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 10:00 AM-02:00 PM
Sun Closed

Mr. Joshua L. Bain, CFP®
(503) 769-7520
601 N 1st St Ste B
Stayton, OR
Firm
Country Financial
Areas of Specialization
Asset Allocation, Budget Development, Debt Management, Education Planning, Insurance Planning, Investment Planning, Long-Term Care

Data Provided by:
Chase Bank
(541) 258-3154
75 E Grant St
Lebanon, OR
Type
Freestanding
Office Hours
Mon:9:00-6:00
Tues:9:00-6:00
Wed:9:00-6:00
Thurs:9:00-6:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

Wells Fargo - Lebanon
(541) 259-7125
809 S Main St
Lebanon, OR
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 10:00 AM-02:00 PM
Sun Closed

Bank of America - Albany
(541) 928-2562
1250 SE Waverly Dr
Albany, OR
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-2
Sunday Closed
Drive Up Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-2
Sunday Closed

Wells Fargo - Waverly
(541) 967-2245
2100 Pacific Blvd Se
Albany, OR
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 10:00 AM-02:00 PM
Sun Closed

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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