Retirement Planning Aurora CO

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.

Paul Staib
Staib Financial Planning, LLC
303/346-5336
3131 South Vaughn Way
Aurora, CO
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, College/Education Planning, Middle Income Client Needs, Hourly Financial Planning Services, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Kimberly Curtis
Wealth Legacy Institute, Inc.
(303) 753-7578
950 South Cherry Street, Suite 505
Denver, CO
Expertises
Women's Financial Planning Issues, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Ongoing Investment Management, Divorce Planning, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, AEP, CAP, CFP®, ChFc, CLU, MSFS

Eileen Sharkey
Sharkey, Howes, & Javer, Inc.
(303) 639-5100
720 South Colorado Blvd., South Tower, Suite 600
Denver, CO
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Ross Schmidt
Aspen Wealth Planners LLC
(303) 789-5281
5445 DTC Parkway, Penthouse Four
Greenwood Village, CO
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Real Estate Investments, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS

Gary Nearpass
Nearpass Financial Counseling, Inc.
(303) 733-0354
460 S. Marion Parkway #303-C
Denver, CO
Expertises
Hourly Financial Planning Services, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Middle Income Client Needs, Newlyweds & Novice Investors
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CRPC, MA, MS, PhD

Joseph Janiczek
Janiczek & Company, Ltd.
(303) 339-4460
8400 East Crescent Parkway, Suite 160
Greenwood Village, CO
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Professional Athletes or Entertainers, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CEBS, CFA, ChFc, JD, MBA, MSFS

James Pasztor
Pasztor & Associates
(303) 990-3883
6417 S. Oak Hill Cir
Aurora, CO
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Advising Employee Benefit Plan Participants, Middle Income Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, CMFC, MS

James Williams
J.F. Williams Co., Inc.
(303) 753-4506
950 S. Cherry Street, Suite 414
Denver, CO
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CPA, MS

Gary Nearpass
Nearpass Financial Counseling, Inc.
(303) 733-0354
44 Cook St., Suite 100
Denver, CO
Expertises
Hourly Financial Planning Services, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Middle Income Client Needs, Newlyweds & Novice Investors
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CRPC, MA, MS, PhD

Alexander Feick
Paragon Capital Management, Ltd.
(303) 296-1458
999 18th Street, Suite 1220
Denver, CO
Expertises
Charitable Giving - Trusts & Foundations, Planning Concerns for Corporate Executives, Advising Employee Benefit Plan Participants, Ongoing Investment Management, High Net Worth Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BA, BS, 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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