Retirement Planning Spokane WA

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.

John McCarthy
John T. McCarthy, LLC
(509) 370-2975
1124 West Riverside Drive, Suite 305
Spokane, WA
Expertises
Cash Flow/Budgets/Credit Issues, Middle Income Client Needs, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MBA

Ronald W. Hannes (RFC®), RFP
(800) 264-2757
202 East Spokane Falls Blvd., Ste. 301
Spokane, WA
Company
Hannes Financial Services, Inc.
Qualifications
Education: Eastern Washington University,
Years of Experience: 27
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Peter N. Bock, CFP®
(509) 326-0776
104 S Freya St Ste 218
Spokane, WA
Firm
Crown Capital
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Insurance Planning, Investment Management, Retirement Income Management, Risk Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Robert W. Scott, CFP®
(509) 232-0076
140 S Arthur St Ste 420
Spokane, WA
Firm
Ameriprise Financial Services,

Data Provided by:
Mr. David T. Demars, CFP®
(509) 536-9556
104 S Freya St Ste 218
Spokane, WA
Firm
Demars Financial Group
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Investment Management, Long-Term Care
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Eric Coltrain, CFP®
(509) 536-6185
301 N Havana St
Spokane, WA
Firm
CUNA Brokerage Services, Inc.
Areas of Specialization
Asset Allocation, Banking, Comprehensive Financial Planning, Debt Management, Divorce Issues, Education Planning, Estate Planning

Data Provided by:
Janis A Gerards, CFP®
(509) 324-4266
104 S. Freya
Spokane, WA
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Comprehensive Financial Planning, Intergenerational Planning, Investment Management, Retirement Income Management, Socially Responsible Investments, Tax Planning

Data Provided by:
Mr. Joel C. White, CFP®
(509) 755-0123
104 S Freya St Ste 320
Spokane, WA
Firm
Joel C White Co.

Data Provided by:
Mr. Bruce D. Ellwein, CFP®
(509) 590-0676
4407 N Division St Ste 920
Spokane, WA
Firm
First Command
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Government Employees

Data Provided by:
Mr. David D. Green, CFP®
(509) 850-3740
528 E Spokane Falls Blvd Ste 501
Spokane, WA
Firm
David Green CPA PLLC
Areas of Specialization
Charitable Giving, Estate Planning, LGBT Individuals and Couples, Real Estate, Retirement Planning, Tax Planning, Tax Preparation
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Medical/Dental Professionals

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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