Retirement Planning Yakima 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.

Mr. Benjamin J. Rickey, CFP®
(509) 543-9070
3908 Creekside Loop STE 100
Yakima, WA
Firm
Leonard Rickey Investment Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable



Data Provided by:
Mr. Paul J. Merz, CFP®
(509) 823-2986
610 N. 39th Ave.
Yakima, WA
Firm
CliftonLarsonAllen LLP

Data Provided by:
Ms. Terry A. Cook, CFP®
(509) 480-1859
4001 Summitview Ave
Yakima, WA
Firm
Financial Management Inc.

Data Provided by:
Mr. Armand A. Doucette, CFP®
(509) 469-5033
402 E Yakima Ave Ste 130
Yakima, WA
Firm
Wachovia Securities

Data Provided by:
Anthony Joseph Farina, CFP®
(509) 469-5030
402 E Yakima Ave Ste 130
Yakima, WA
Firm
Capital Advisors Wealth Management
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning

Data Provided by:
Joy S Stenehjem, CFP®
(509) 972-3686
3908 Creekside Loop Ste 100
Yakima, WA
Firm
Leonard Rickey Investment Advisors

Data Provided by:
Mr. Clark L. Permann, CFP®
(509) 965-5654
115 N 50th Ave
Yakima, WA
Firm
Financial Management, Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Kenneth Edward Reeves, CFP®
(509) 966-4811
PO Box 8232
Yakima, WA
Firm
Reeves Financial Services

Data Provided by:
Mr. Ryan L Franklin, CFP®
(509) 834-2458
402 East Yakima Avenue, Suite 110
Yakima, WA
Firm
Moss Adams Wealth Advisors, LLC
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided by:
US Bank - Southgate WA Office
(509) 575-3579
315 W Nob Hill Blvd
Yakima, WA
Languages
Spanish
Drive Up Hours
Mon 09:00 am to 06:00 pm
Tue 09:00 am to 06:00 pm
Wed 09:00 am to 06:00 pm
Thur 09:00 am to 06:00 pm
Fri 09:00 am to 06:00 pm
Sat 09:00 am to 01:00 pm

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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