Retirement Planning Ashburn VA

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.

Femi Shote
Asset Harvest Group, LLC
(703) 444-7819
20534 Meadow Island Place
Potomac Falls, VA
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Professional Athletes or Entertainers
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®, ChFc, CLU

Dean Knepper
Lifetime Financial Planning, Inc.
(703) 779-0515
208 S. King Street, Suite 201
Leesburg, VA
Expertises
Investment Advice without Ongoing Management, College/Education Planning, Middle Income Client Needs, Retirement Planning & Distribution Rules, Tax Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Dean Knepper
Lifetime Financial Planning, Inc.
(703) 779-0515
2325 Dulles Corner Blvd., Suite 500
Herndon, VA
Expertises
Investment Advice without Ongoing Management, College/Education Planning, Middle Income Client Needs, Retirement Planning & Distribution Rules, Tax Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Carl Emerick
Sentinel Wealth Management, Inc.
(703) 871-5018
11710 Plaza America Drive, Suite 130
Reston, VA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, MS

Bonnie Sewell
American Capital Planning, LLC
(703) 579-7031
11921 Freedom Drive
Reston, VA
Expertises
Ongoing Investment Management, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Advising Entrepreneurs, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®

Bonnie Sewell
American Capital Planning, LLC
(703) 579-7031
25038 Mineral Springs Circle
Stone Ridge, VA
Expertises
Ongoing Investment Management, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Advising Entrepreneurs, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®

Darren Koch
Steigerwald, Gordon & Koch Inc.
(703) 777-8826
891A Harrison Street, SE
Leesburg, VA
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, College/Education Planning, Retirement Plan Investment Advice, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, AAMS, CFP®, CRPS, CFMC

Phillip Bour
BourGroup
(703) 407-6697
25925 Planting Field Drive
South Riding, VA
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Frank Boucher
Boucher Financial Planning Services
(703) 391-8466
1900 Campus Commons Drive, Suite 100
Reston, VA
Expertises
Hourly Financial Planning Services, Advising Employee Benefit Plan Participants, Middle Income Client Needs, Retirement Planning & Distribution Rules, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CEBS, CFP®

Gerald Cannizzaro
Ticknor, Atherton and Associates
(703) 476-3521
12040 South Lakes Drive, #201
Reston, VA
Expertises
Advising Employee Benefit Plan Participants, College/Education Planning, Ongoing Investment Management, Middle Income Client Needs, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, MBA

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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