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Retirement Planning Akron OH

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.

Mario Giganti
Cornerstone Capital Advisors
(330) 896-6250
1507 Boettler Road, Suite G
Uniontown, OH
Expertises
Charitable Giving - Trusts & Foundations, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, AIFA, CFP®, CPA

Mr. Gerald P. Knotek, CFP®
(330) 375-9480
121 S. Main Street
Akron, OH
Firm
Sequoia Financial Advisors, LL
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Annelise W. Mccauley, CFP®
(330) 375-9480
121 S Main Street Ste 300
Akron, OH
Firm
Sequoia Financial Group

Data Provided by:
David J. Massare Jr., CFP®
(330) 255-4335
121 S. Main Street
Akron, OH
Firm
Sequoia Financial Group

Data Provided by:
Mr. Jesse W. Hurst Ii, CFP®
(330) 374-1616
520 S Main St
Akron, OH
Firm
Millennial Group
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, Investment Management, Investment Planning, Long-Term Care
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Harlan Storey
Storey & Associates
(330) 526-8944
1360 South Main Street
North Canton, OH
Expertises
Charitable Giving - Trusts & Foundations, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, JD

Mr. Andrew J. Danylchak, CFP®
(330) 375-8894
1 Cascade Plz Fl 5
Akron, OH
Firm
PNC Bank
Areas of Specialization
Asset Allocation, Investment Management, Retirement Planning

Data Provided by:
Mr. Michael A Chisnell Jr., CFP®
(330) 255-2131
121 S Main St Ste 300
Akron, OH
Firm
Sequoia Financial Group, LLC.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Charles M Grimm, CFP®
(330) 258-4023
219 S. Main Street
Akron, OH
Firm
KeyPrivate Bank
Areas of Specialization
Comprehensive Financial 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. Ted T. Sadar, CFP®
(330) 564-0505
520 S Main St
Akron, OH
Firm
Sadar Financial
Areas of Specialization
Asset Allocation
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Business Executives

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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