Retirement Planning Mitchell SD

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. Robert E. Young, CFP®
(605) 996-5910
719 N Main St
Mitchell, SD
Firm
Raymond James Financial Serv

Data Provided by:
Mr. Thomas J. Dice, CFP®
(605) 996-7171
1716 N Sanborn Blvd
Mitchell, SD
Firm
Dice Finl Svcs Group

Data Provided by:
Wells Fargo - Mitchell
(605) 995-3500
403 N Lawler St
Mitchell, SD
Type
Branch
Office Hours
Mon-Fri 08:30 AM-05:00 PM
Sat 08:30 AM-12:00 PM
Sun Closed

Richard Kahler
Kahler Financial Group
(605) 343-1400
1010 9th Street, Suite 1
Rapid City, SD
Expertises
Real Estate Investments, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFP

Mr. Todd M. Klein (RFC®), CFP
(605) 348-2433
1241 E St. Joseph St
Rapid City, SD
Company
Fintegra, LLC
Qualifications
Years of Experience: 19
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan

Data Provided by:
Mr. Michael L. Lebrun, CFP®
(605) 996-7171
1716 N Sanborn Blvd
Mitchell, SD
Firm
Dice Financial Services Group
Areas of Specialization
Asset Allocation, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning, Insurance Planning, Investment Management

Data Provided by:
Mr. Jerauld J. Garry, CFP®
(605) 996-7171
321 W 14th Ave
Mitchell, SD
Firm
Dice Financial Services Group

Data Provided by:
US Bank - Mitchell SD Office
(605) 996-5814
1421 N Main
Mitchell, SD
Drive Up Hours
Mon 08:30 am to 05:30 pm
Tue 08:30 am to 05:30 pm
Wed 08:30 am to 05:30 pm
Thur 08:30 am to 05:30 pm
Fri 08:30 am to 05:30 pm
Sat 09:00 am to 12:00 pm

Mr. Kameron J. Carlson, CFP®
(605) 338-9191
5032 S Bur Oak Pl Ste 100
Sioux Falls, SD
Firm
Professional Financial Service

Data Provided by:
Mr. Adam D. Weeman, CFP®
(605) 271-2701
5900 S. Western Ave
Sioux Falls, SD
Firm
Thrivent Financial for Lutherans
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, General Financial Planning, Investment Management, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

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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