» » »

Retirement Planning Salem 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.

Ronald Kelemen
The H Group, Inc.
(503) 371-3333
500 Liberty Street SE, Suite 310
Salem, OR
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Insurance Related Issues, including Annuities, Retirement Plan Investment Advice, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Allan D. Ross, CFP®
(503) 399-3805
P.O. Box 12888
Salem, OR
Firm
CFP, Inc.
Areas of Specialization
Business Succession Planning, Insurance Planning, Investment Management, Small Business Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Wolfgang T. Sailler, CFP®
(503) 375-0208
161 High St SE
Salem, OR
Firm
Goldmark Financial Planners LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. Robert B. Welle, CFP®
(503) 485-5204
388 State St
Salem, OR
Firm
Ameriprise Financial

Data Provided by:
Ms. Mary Y. Way, CFP®
(503) 371-3333
500 Liberty St SE Suite 310
Salem, OR
Firm
The H Group Inc

Data Provided by:
Mary Way
The H Group, Inc.
(503) 371-3333
500 Liberty Street SE, Suite 310
Salem, OR
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Advising Medical Professionals, Charitable Giving - Trusts & Foundations, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Ms. Jennifer L. Lessard, CFP®
302 State St
Salem, OR
Firm
U.S Bank
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Elder Care, Estate Planning, General Financial Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Kevin M. Winder, CFP®
(503) 385-1233
1800 State St
Salem, OR
Firm
Invest Northwest, LLC
Areas of Specialization
Investment Management

Data Provided by:
Ms. Shalisa Green Pierce, CFP®
198 Commercial St SE Ste 220
Salem, OR
Firm
Waddell & Reed
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Timothy C. Ivey, CFP®
3955 Center St NE
Salem, OR
Firm
US BANCORP

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....

Click here to read the rest of this article at Zacks.com