Retirement Planning Rexburg ID

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. Brent Lynn Esplin, CFP®
90 S 1st W
Rexburg, ID
Firm
Edward Jones

Data Provided by:
Mr. H. Brent Hill, CFP®
1010 S 2nd E
Rexburg, ID
Firm
Rudd & Company, PLLC

Data Provided by:
Mr. Adam C. Serr, CFP®
(208) 523-9068
865 S Woodruff Ave
Idaho Falls, ID
Firm
East Idaho Credit Union
Areas of Specialization
Asset Allocation, Banking, General Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
US Bank - Rexburg Office
(208) 356-3641
77 E Main St
Rexburg, ID
Languages
Spanish
Drive Up Hours
Mon 09:30 am to 05:00 pm
Tue 09:30 am to 05:00 pm
Wed 09:30 am to 05:00 pm
Thur 09:30 am to 05:00 pm
Fri 09:30 am to 06:00 pm

US Bank - Rigby Office
(208) 745-8181
183 S State St
Rigby, ID
Languages
Spanish
Drive Up Hours
Mon 09:30 am to 05:00 pm
Tue 09:30 am to 05:00 pm
Wed 09:30 am to 05:00 pm
Thur 09:30 am to 05:00 pm
Fri 09:30 am to 06:00 pm

Scott Bradley Smith, CFP®
(208) 356-8500
15 W Main St
Rexburg, ID
Firm
Smith, Kunz & Associates PLLC
Areas of Specialization
Accounting, Budget Development, Business Succession Planning, Debt Management, Education Planning, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
Mr. Matthew N. Porter, CFP®
(208) 528-3902
1858 1st St
Idaho Falls, ID
Firm
Ohio National Financial Services
Areas of Specialization
Asset Allocation, Debt Management, Education Planning, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Management

Data Provided by:
Wells Fargo - Rexburg
(208) 356-4415
39 E Main St
Rexburg, ID
Type
Branch
Office Hours
Mon-Fri 09:30 AM-06:00 PM
Sat 09:30 AM-04:00 PM
Sun Closed

Wells Fargo - Rigby
(208) 745-5400
127 N State St
Rigby, ID
Type
Branch
Office Hours
Mon-Thu 09:30 AM-05:00 PM
Fri 09:30 AM-06:00 PM
Sat 09:30 AM-02:00 PM
Sun Closed

Wells Fargo - Smith'S Woodruff
(208) 533-6165
400 S Woodruff Ave
Idaho Falls, ID
Type
In-Store Branch
Office Hours
Mon-Fri 09:00 AM-07:00 PM
Sat 09:00 AM-04:00 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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