Retirement Planning Wausau WI

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.

Thomas Batterman
Vigil Trust & Financial Fiduciaries
(715) 848-8110
501 3rd Street
Wausau, WI
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CTFA, JD

Mr. Thomas J. Murphy, CFP®
(715) 848-3474
2610 Stewart Avenue
Wausau, WI
Firm
Midwest Professional Planners
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Ms. Karen J. Giese, CFP®
(715) 849-9898
2620 Stewart Ave Ste 116
Wausau, WI
Firm
Wells Fargo Financial Advisors
Areas of Specialization
Retirement Income Management, Retirement Planning, Risk Management, Securities, Small Business Planning, Social Security Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Gregory P. Freeman, CFP®
(715) 848-2911
1 Corporate Dr Ste 602
Wausau, WI
Firm
Stifel Nicolaus
Areas of Specialization
Budget Development, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Ms. Marilyn K. Sauer, CFP®
(715) 261-4819
500 1st St Ste 6000
Wausau, WI
Firm
Robert W. Baird & Co.

Data Provided by:
Mr. Edward C Fox Iii, CFP®
(715) 849-3697
505 S 24th Ave Ste 304
Wausau, WI
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Service Professionals

Data Provided by:
Mr. Gregory H. Schield, CFP®
(715) 421-2910
903 S 17th Avenue
Wausau, WI
Firm
American Express Finl Advisors

Data Provided by:
Mr. Scott E Wildman, CFP®
(715) 843-8504
One Corporate Drive
Wausau, WI
Firm
Stifel Nicolaus
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning, Intergenerational Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Service Professionals

Data Provided by:
Mr. Kevin J. Snow, CFP®
(715) 848-3778
1907 N Mountain Rd
Wausau, WI
Firm
Equity Design Group

Data Provided by:
Ms. Mary L. Duwe, CFP®
(715) 693-8002
1102 Grand Ave
Wausau, WI
Firm
Associated Retirement Planners

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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