Retirement Planning Blacksburg 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.

Pamela Poldiak
Partners in Financial Planning, LLC
(540) 444-2930
421 South College Avenue
Salem, VA
Expertises
Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Helping Clients Identify & Achieve Goals, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Mr. Ronald W. Gibbs (RFC®), MBA
(540) 443-3612
119 Church St. Ste. 100
Blacksburg, VA
Company
RVA Financial Specialists
Qualifications
Education: BS, MBA - Finance
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Returns, Seminars Work, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, Compensation Plans

Data Provided by:
Dr. Joel S. Williams, CFP®
(540) 961-6706
1995 S Main St Ste 903
Blacksburg, VA
Firm
JSW Financial

Data Provided by:
Brian Smith, CFP®
(540) 443-9143
1901 S Main St Ste 4D
Blacksburg, VA
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning

Data Provided by:
Mr. Douglas C. Melrose, CFP®
(540) 577-6734
4 E Main st
Christiansburg, VA
Firm
Wells Fargo Advisers

Data Provided by:
James Pearman
Partners in Financial Planning, LLC
(540) 444-2930
421 South College Avenue
Salem, VA
Expertises
Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Advising Medical Professionals, Charitable Giving - Trusts & Foundations, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Mr. Michael R. Jones, CFP®
(540) 961-6706
1995 South Main St
Blacksburg, VA
Firm
JSW Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Divorce Issues, Education Planning, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Stacy H Martin, CFP®
(540) 443-3558
2206 South Main Street
Blacksburg, VA
Firm
LPL Financial
Areas of Specialization
Accounting, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Paul H Mitchell, CFP®
(540) 953-2371
1111-A North Main Street
Blacksburg, VA
Firm
Paul Mitchell CPA CFP(r)
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Ms. Juanita H. Ellett, CFP®
(540) 639-1508
6734 Circle Dr
Radford, VA

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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