Retirement Planning Anderson SC

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. Daniel Benjamin Bufkin, CFP®
(864) 225-7177
114 E. Benson
Anderson, SC
Firm
Stifel Nicolaus
Areas of Specialization
Asset Allocation
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Michael M Cruce, CFP®
(864) 375-0473
PO Box 1285
Anderson, SC
Firm
ERISA Plan Services, Inc.
Areas of Specialization
Asset Allocation, Employee and Employer Plan Benefits, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Scott A. Robertson, CFP®
(864) 222-6807
3003 North Main St.
Anderson, SC
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Arthur M Klugh Iv, CFP®
(864) 231-7760
2202 N Main St
Anderson, SC
Firm
McDonald, Cox, and Klugh
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Jonathan C. Anderson, CFP®
(864) 224-3474
415 North Main Street
Anderson, SC
Firm
Jones, Spitz, Moorhead, Baird, & Albergotti
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Elder Care, Estate Planning, Investment Management, Legal Advice

Data Provided by:
Mr. David Gray Suggs, CFP®
(864) 226-0306
PO Box 102
Anderson, SC
Firm
Suggs Johnson
Areas of Specialization
Accounting, Business Succession Planning, Retirement Planning, Tax Preparation

Data Provided by:
Mr. Thomas K. Mcdonald, CFP®
(864) 231-7760
2202 N Main St
Anderson, SC
Firm
McDonald, Cox & Klugh, Inc.
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, General Financial Planning, Insurance Planning, Investment Management

Data Provided by:
Michael Scott Patterson, CFP®
(864) 224-0745
120 E Beltline Blvd
Anderson, SC
Firm
Core Financial Resources
Areas of Specialization
Accounting, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, General Financial Planning, Tax Preparation

Data Provided by:
Mrs. Wendi K. Drennon, CFP®
(864) 261-6532
3901 Clemson Blvd
Anderson, SC
Firm
The Peoples Bank

Data Provided by:
Clarence C Boucher, CFP®
(864) 222-1872
602 N McDuffie St
Anderson, SC
Firm
Boucher Capital Management, Inc.
Areas of Specialization
Estate Planning, General Financial Planning, Insurance Planning, Investment Management, Investment Planning, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

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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