Retirement Planning Bridgeport CT

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.

Panfilo Guglielmi
Advanced Capital Advisors, LLC
(203) 255-0504
140 Sherman Street, 4th FL
Fairfield, CT
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Russell Wayne
Sound Asset Management, Inc.
(203) 222-9370
5 Glen Lane, East Wing
Weston, CT
Expertises
Ongoing Investment Management, Hourly Financial Planning Services, Helping Clients Identify & Achieve Goals, Investment Advice without Ongoing Management, Middle Income Client Needs, Newlyweds & Novice Investors
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MBA

Brian Shea
Shea Financial Advisors
(203) 966-9651
45 Pine Street, Unit 4A
New Canaan, CT
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, EA

Mr. Peter Elliott Wilk, CFP®
2134 North Ave
Bridgeport, CT
Firm
HD Vest Investment Services
Areas of Specialization
Accounting, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning, Insurance Planning, Investment Planning

Data Provided by:
Mr. Peter F. Di Domizio, CFP®
(203) 333-8300
1979 E Main St
Bridgeport, CT
Firm
Corporate Benefit Enterprises

Data Provided by:
Elizabeth Cox
Cox Financial Services, LLC
(203) 221-2799
191 Post Road West
Westport, CT
Expertises
Divorce Planning, Helping Clients Identify & Achieve Goals, Hourly Financial Planning Services, Ongoing Investment Management, Women's Financial Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®, EA

Robin Sherwood
HTG Investment Advisors, Inc.
(203) 972-8262
50 Locust Avenue
New Canaan, CT
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, College/Education Planning, High Net Worth Client Needs, Planning Concerns for Corporate Executives, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MBA

R. Allen Purkiss
Purkiss Capital Advisors, LLC
(203) 431-5862
62 Barry Avenue
Ridgefield, CT
Expertises
Ongoing Investment Management, College/Education Planning, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. George H. Clough Iii, CFP®
(203) 338-3930
850 Main St Fl 13
Bridgeport, CT
Firm
People's United Bank

Data Provided by:
Mrs. Robin R. Smith, CFP®
(203) 381-0430
149 Wilson St
Fairfield, CT
Firm
Robin Rogers LLC
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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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