Dependable Retirement Planning Advisors

Seattle Retirement Planning

Seattle retirement planning involves analyzing possible savings accounts and investment opportunities. For example, your Seattle employer may offer a 401(k). 401(k)s are considered one of the best Washington retirement savings plan opportunities by most financial professionals. That is, if it a matching 401(k) in which your employer matches your contribution. Understanding how 401(k)s work will help you with your financial planning.

You may also want to consider how you access your money during your Seattle, WA retirement. You may be uncomfortable with the idea of having a savings account (which could run out of money), and would rather have consistent income paid out each month. There are certain investments that allow you to have continued income during retirement, and you may want to consider these during your Seattle retirement planning.

Your Seattle 401(K)

401(k)s offer an upfront tax-deduction, which means that your income goes into the account untaxed. Furthermore, your money will grow in a 401(k) tax deferred. in other words, saving up money in your Seattle 401(k) is easier than saving up in a bank account, because there are no taxes. However, you'll be taxed when you take that money out, and it can be hard to predict how high the taxes will be.

Still, if your Seattle, WA employer offers a 401(k), and you're planning to retire someday, you should look into the option. First of all, find out if your employer is offering a matching 401(k). With a matching 401(k), an employer matches your contribution up to a certain percentage of your income. For example, the company may match half of your contribution up to the first 6% of your income, or all they might match all of your contribution up to the first 5% of your income.

Most Seattle retirement planning advisors will tell you to contribute to a matching 401(k) if you can. A matching 401(k) is basically like getting free money. If you make a decent amount of income, and you contribute what you can, a 401(k) will kickstart your Seattle retirement planning.

Some Washington companies automatically enroll you in a 401(k). However, you almost always get to choose the contribution percentage. Your contribution will come directly from your paycheck. And while your employer and the 401(k) may set significant contribution limits, you can still save significantly in a 401(k). It's important that you invest the money that's in your 401(k) so that it grows overtime.

If you're young and you're starting your Seattle retirement planning early, you can make somewhat aggressive and even risky investments your 401(k). In other words, you can choose stocks that may have high growth, but don't offer any guarantee. In the long run, these investments will win out. However, if you're planning to retire soon, you probably want to consider mostly safe investments.

Investments for Retirement Income

Planning a diversified portfolio of retirement savings is important. When it comes to investing, diversity is always key. It's never a good idea to put all of your eggs in one basket, especially when you're considering and planning your livelihood in your golden years. You may want to consider some investments that provide income as part of your diversified portfolio.

You may want to look into annuities during your Seattle retirement planning. Some in annuities have guaranteed income. These guarantees or "riders" will make your Seattle retirement planning much easier. However, annuities come with a lot of fine print and confusing exclusions. If you're considering an annuity, you may want to consult with a Seattle, Washington financial advisor.

Retirement income funds are also an option. These funds are automatically diversified investments, and provide you with consistent income. Also, unlike annuities, your you have control over you principal and you can access it. Remember, while having income is a good idea, you always need to be able to access a significant amount of liquid cash, in case of a medical emergency.

You may want to consider bonds during your Seattle retirement planning. With a bond, you're basically loaning your money to the government or to company. The borrower will pay interest on the invested money, and the principle will eventually be returned to you. Bonds provide consistent income and therefore may be useful for retirees.

Investing in Washington properties is also possibility when you're planning on income for your later years. However, keeping up a property can be relatively difficult, and you may have to deal with significant maintenance fees. Also, like any market, the real estate market goes up and down so you can't rely on it alone..

You may want to consult with the Seattle retirement planning expert. He or she can help you create a balanced and stable portfolio. There are many different investment opportunities to consider, and you want to choose how to invest your money carefully.

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Retirement Planners In Seattle

Gary Jeweler, CFP, CPA, PFS, CLU
Gary Jeweler, CFP, CPA, PFS, CLU
2815 Eastlake Ave E Ste 300
Seattle, WA 98102

Jim Falcone
Jim Falcone
10900 NE 8th St. Suite 1000
Bellevue, WA 98004

Monte Snider
Monte Snider
12505 Bel-Red Rd. Suite 200
Bellevue, WA 98005

Josh Label
Josh Label
3400 Carillon Point
Kirkland, WA 98033

13231 SE 36th St
Suite 215
Bellevue, WA 98006

Ryan Sant
Ryan Sant
19101 36th Avenue West, Suite 211
Lynnwood, WA 98036

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