Retirement Planning Services Kingman AZ

It’s never too early to start your retirement planning. The sooner you start the more money you collect. It’s important to look for quality jobs that have benefits packages you can take full advantage of. A 401(k) is a retirement plan set up by employers that allows employees to defer or invest a portion of their income, pre-tax, to their retirement plan. Here you’ll find useful retirement tips that will definitely help you with your retirement planning. Please scroll down for more information and access to the retirement financial advisors in Kingman, AZ listed below that can explain more and even get you started on your retirement savings.

Wells Fargo - Bashas'-Kingman
(928) 757-1070
3360 E Andy Devine Ave
Kingman, AZ
In-Store Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-04:00 PM
Sun Closed

Bank of America - Kingman
(928) 753-2181
2307 Stockton Hill Rd
Kingman, AZ
Banking Center
Banking Center Services: Commercial Deposits, Night Deposits
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-1
Sunday Closed

David Diesslin
Diesslin & Associates, Inc.
(520) 825-5465
65087 East Rocky Mesa Drive
Tucson, AZ
Ongoing Investment Management, Planning Issues for Business Owners, Charitable Giving - Trusts & Foundations, Retirement Planning & Distribution Rules
NAPFA Registered Financial Advisor, BS, CFP®, MBA

David Rosenthal
Wealth Management Solutions
(480) 609-4334
8550 E Shea Blvd, Suite 130
Scottsdale, AZ
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Tax Planning, Divorce Planning
NAPFA Registered Financial Advisor, CFP®, MBA

Bryan Wisda
Summit Wealth Management, Inc.
(480) 596-9222
7202 E. Carefree Drive #2A
Carefree, AZ
Advising Medical Professionals, Women's Financial Planning Issues, Professional Athletes or Entertainers, Planning Issues for Unmarried & Same-Sex Couples, Estate & Generational Planning Issues, Hourly Financial Planning Services
NAPFA Registered Financial Advisor, CFP®

Wells Fargo - Kingman
(928) 753-5555
330 E Beale St
Kingman, AZ
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Chase Bank
(928) 757-3181
3755 Stockton Hill Rd
Kingman, AZ
Office Hours

Robert Keats
Keats, Connelly and Associates, LLC
(602) 955-5007 Ext: 210
3336 North 32nd Street, Suite 100
Phoenix, AZ
Ongoing Investment Management, Retirement Planning & Distribution Rules, Financial Issues Between Generations, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Charitable Giving - Trusts & Foundations
NAPFA Registered Financial Advisor, BS, CFP®, MSFS

Rebecca Chacko
Chacko-Hertz Financial Solutions
(520) 743-3873
5540 W. Placita Llanura
Tucson, AZ
Retirement Planning & Distribution Rules, Middle Income Client Needs, Tax Planning, High Net Worth Client Needs, Special Needs Planning, Newlyweds & Novice Investors
NAPFA Registered Financial Advisor, BA, BS, CFP®, MBA, MS

Mark Stempel
Encore Wealth Advisors
(520) 531-9977
3953 E. Paradise Falls Drive
Tucson, AZ
Retirement Plan Investment Advice, Middle Income Client Needs, Advising Medical Professionals, Retirement Planning & Distribution Rules, Socially Responsible Investments, Tax Planning
NAPFA Registered Financial Advisor, CFP®, EA, MA

Investing in 401(k)s and IRAs

By Christopher Stella

So it’s the first day of work and HR asks whether or not you want to open up a 401(k) retirement account. “Heaven’s to Betsy” you say in your most petulant grandfatherly voice: why the hell do I need a retirement account? Ahh…so you say that now. But what happens when you’re 50 years old and realize that had you contributed a measly $100 a month to an account earning a reasonably conservative 6% interest rate, you could have been sitting on a cool $120,000. Not exactly a chunk of change to shake a cane at. But there’s more. Firstly, each of those piddly $100 contributions is tax free, meaning that had you not deposited them into the account, you would have only received about $60 to spend. Secondly, your employer (depending on their level of altruism) will frequently match those contributions up to a certain amount (usually between $1,000 and $2,000 a year). So now you’re talking close to a quarter of a million dollars, half of which was free!!!! Alright, so there’s a little more to it than that, but that’s the basic gist.

Statistics show that you need about 75% of your pre-retirement income to maintain a similar standard of living. So if you're making $150,000 a year, retire at 60, and stick around until you're 90, you'll need to save over $3,000,000. Here's are two easy ways you can make you can make that happen.

What’s a 401(k)?

A 401(k) is a retirement plan set up by employers that allows employees to defer (or invest) a portion of their income, pre-tax, to their plan. For example, if you make $45,000 a year, and contribute $2,000 to our 401(k), then you will only be taxed on $43,000 of your salary at the end of the year. Taxes on $2,000 are paid later when you take out the money during retirement. So why bother contributing?

A 401(k) is like a savings account on steroids. Because your deferral is pre-tax, it means you have more money to contribute, and a larger account grows faster. Further, employers often “match” or contribute a percentage of your deferral as well.

But don’t think that this is just some cash give-away-free-for-all. There are rules. First, the money can’t be withdrawn before the age of 59.5, unless there is an extenuating circumstance, such as serious financial hardship or disability. Otherwise, early withdrawals are subject to a 10% penalty, paid to the IRS. However, if you need to withdraw the money, as a result of the tax deferment on interest, the penalty isn’t significant. If your employer is also matching your funds, then the penalty is negligible.

The maximum current amount that can be invested each year is $15,000, as stated by the IRS. However, that number changes pretty regularly so check with your employer to figure out what the exact numbers are. But what if you leave your job? Well, it doesn’t really matter. You get to keep everything you’ve put in your account plus whatever portion of the money your employer has matched. And there are no penalt...

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