Retirement Planning Wichita KS

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.

Kedre Mellor
Capital WealthCare Advisors, L.C.
(316) 440-4772
10333 E. 21st Street N., Suite 301
Wichita, KS
Expertises
High Net Worth Client Needs, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Ongoing Investment Management, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

Mr. Victor Martin Schimming, CFP®
(316) 652-0777
PO Box 177
Wichita, KS
Firm
FSC Securities Corporation

Data Provided by:
Thomas M. Douglass, CFP®
(316) 383-8451
300 S Main St
Wichita, KS
Firm
Wells Fargo Advisors

Data Provided by:
Brian C. Gensch, CFP®
(316) 267-3220
301 N Main St
Wichita, KS
Firm
LPL Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mr. Bruce E. Brinkman, CFP®
(316) 291-4191
301 N. Main
Wichita, KS
Firm
Allen, Gibbs & Houlik, L.C.
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Investment Planning, Retirement Planning, Small Business Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Mr. Bradley S. Moser, CFP®
(316) 264-6321
301 N Main St
Wichita, KS
Firm
Stifel Nicolaus

Data Provided by:
Mr. Robert A. Francis, CFP®
(316) 383-1385
INTRUST Bank, NA (M.S. 1.2)
Wichita, KS
Firm
INTRUST Bank, NA

Data Provided by:
Mr. Robert G Hendrickson, CFP®
(316) 261-8755
125 N Market St Ste 1600
Wichita, KS
Firm
New York Life
Areas of Specialization
Estate Planning, Insurance Planning, Retirement Planning

Data Provided by:
Mr. Russell E. Hall, CFP®
(316) 265-8400
250 W Douglas
Wichita, KS
Firm
Wedel, Thurman & Hall
Areas of Specialization
Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Richard S. Klingman, CFP®
(316) 267-0300
300 S Main St
Wichita, KS
Firm
Wells Fargo Advisors

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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