» » »

Retirement Planning Boone NC

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. J. Michael Eldridge, CFP®
(828) 264-0066
Suite 302 Colony Place
Boone, NC
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Daniel E. Jobe, CFP®
(828) 265-9494
183 Rembrandt Dr.
Boone, NC
Firm
VALIC Financial Advisors

Data Provided by:
Mr. Don R. Cox, CFP®
(828) 262-6223
Appalachian State Univ
Boone, NC
Firm
College of Business

Data Provided by:
William M Helms Jr., CFP®
(828) 262-3777
895 State Farm Rd. Ste. 210
Boone, NC
Firm
Lincoln Financial Securities

Data Provided by:
Dr. Ivan C. Roten, CFP®
(828) 262-6943
Department Of Finance, Banking And Insurance
Boone, NC
Firm
Appalachian State University

Data Provided by:
Ms. Patricia L. Smith, CFP®
(828) 264-8990
4469 Bamboo Rd
Boone, NC
Firm
Ameriprise Financial Services,Inc
Areas of Specialization
Comprehensive Financial Planning, Retirement Income Management, Tax Planning, Women's Finances
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Gary Thomas Moss Jr., CFP®
(828) 264-8990
4469 Bamboo Rd Ste 105
Boone, NC
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Estate Planning, Insurance Planning, Investment Planning, Retirement Income Management, Retirement Planning, Tax Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. James Donald Miller, CFP®
(828) 262-5714
136 Furman Rd. Suite 9
Boone, NC
Firm
James Donald Miller, CPA/PFS, P. A.
Areas of Specialization
Accounting, Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management

Data Provided by:
Mr. Michael Earl Steele, CFP®
(828) 264-1248
184 Realty Row
Boone, NC
Firm
Michael E. Steele, CFP
Areas of Specialization
Asset Allocation, Education Planning, General Financial Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Jonathan C. Allen, CFP®
(828) 268-9693
980 Highway 105
Boone, NC
Firm
Allen Wealth Management LLC
Areas of Specialization
Asset Allocation, Estate Planning, Investment Planning, Long-Term Care, Tax Planning, Wealth Management

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....

Click here to read the rest of this article at Zacks.com