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Retirement Planning Logan UT

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.

Reese Hulbert, CFP®
5 S Main St
Logan, UT
Firm
Wellsfargo Advisors

Data Provided by:
Brad Hess, CFP®
(435) 770-4164
664 N Main St Ste 102
Logan, UT
Firm
LPL Financial Services
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning

Data Provided by:
Tyler J Vanderbeek, CFP®
(435) 713-4220
595 Riverwood Dr. Suite 170
Logan, UT
Firm
Keystone Wealth Advisors
Areas of Specialization
Estate Planning, Insurance Planning, Investment Management, Retirement Income Management, Wealth Management

Data Provided by:
Mr. Nolan P. Gunnell, CFP®
(435) 755-5263
1047 S 100 W #110
Logan , UT
Firm
D.A. Davidson & Co.

Data Provided by:
Mr. Kent B. Haueter, CFP®
(435) 752-8484
360 North Main Street
Logan, UT
Firm
Harold Dance Investments

Data Provided by:
Mr. Sterling G. Widmer, CFP®
(435) 787-4581
1047 S 100 W Ste 230
Logan, UT
Firm
The Cambridge Financial Center
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Management, Investment Planning, Retirement Income Management

Data Provided by:
Mr. Jared R. Ripplinger, CFP®
(435) 750-5566
632 N Main St Ste 2A
Logan, UT
Firm
Cook Martin Poulson, P.C.
Areas of Specialization
Accounting, Budget Development, Business Succession Planning, Charitable Giving, Estate Planning, Real Estate, Retirement Planning

Data Provided by:
Mr. S. Craig Adams, CFP®
(435) 752-1702
101 North Main Street
Logan , UT
Firm
Adams Wealth Advisors
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Gordon L. Nelson, CFP®
(435) 713-4220
595 S 80 E Ste 170
Logan, UT
Firm
Keystone Wealth Management, Inc.

Data Provided by:
Mr. Patrick Redding, CFP®
(435) 753-6500
PO Box 4666
Logan, UT
Firm
LPL Financial

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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