Retirement Planning Brazil IN

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. Stanley E. Poorman, CFP®
(812) 234-1617
2901 Ohio Blvd Ste 156
Terre Haute, IN
Firm
CliftonLarsonAllen Wealth Advisors
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Insurance Planning

Data Provided by:
Robert A. Vickers, CFP®
(812) 478-7010
401 Ohio St
Terre Haute, IN
Firm
Merrill Lynch
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Investment Management, Retirement Income Management

Data Provided by:
Thomas Foster, CFP®
(812) 231-1822
401 Wabash Ave
Terre Haute, IN
Firm
Morgan Stanley Smith Barney
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Insurance Planning, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Self-Employed Business Owners

Data Provided by:
Ms. Sharon L. Robinson, CFP®
(812) 299-8027
229 Highland Ct
Terre Haute, IN

Data Provided by:
Mr. Marc E. Weaver, CFP®
(812) 467-3193
3300 E. Margaret Avenue
Terre Haute, IN
Firm
MetLife, Inc.

Data Provided by:
Gay Ann Monninger, CFP®
(812) 232-0700
328 South 5th Street
Terre Haute, IN
Firm
Swan Street Financial, LLC

Data Provided by:
Troy Thomas Charters, CFP®
(812) 232-1144
401 Wabash Ave
Terre Haute, IN
Firm
Morgan Stanley Smith Barney

Data Provided by:
Mr. Robert W. Davidson, CFP®
(812) 298-2671
4675 S US Highway 41
Terre Haute, IN
Firm
LPL Financial

Data Provided by:
Mr. Michael W. Collins, CFP®
(812) 232-0196
1210 S Third St
Terre Haute, IN
Firm
Northwestern Mutual Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Planning, Long-Term Care

Data Provided by:
Mr. Gene E. Griffin, CFP®
(812) 299-8900
1190 E Canvasback Dr
Terre Haute, IN
Firm
Capital Planning Systems
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

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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