Retirement Planning Buffalo NY

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.

Joseph Raimond
Raimond Financial Planning
(716) 692-8648
1876 Niagara Falls Boulevard, Suite 2
Tonawanda, NY
Expertises
Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Insurance Related Issues, including Annuities, Ongoing Investment Management, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MS

Mr. Steven A Gattuso, CFP®
(716) 883-9595
1114 Delaware Ave
Buffalo, NY
Firm
Courier Capital Corporation
Areas of Specialization
Accounting, Asset Allocation, Comprehensive Financial Planning, General Financial Planning, Investment Management, Investment Planning, Wealth Management

Data Provided by:
Ms. Laura A. Ferrino, CFP®
(716) 848-7531
1 Fountain Plz
Buffalo, NY
Firm
M&T Bank
Areas of Specialization
Asset Allocation, Banking, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mr. Paul Bernard Kieffer, CFP®
(716) 848-7534
1 Fountain Plz
Buffalo, NY
Firm
M & T Bank

Data Provided by:
Mr. Winthrop L. Buck, CFP®
(716) 948-2090
111 Genesee St Ste 300
Buffalo, NY
Firm
Winthrop Financial Inc.
Areas of Specialization
Charitable Giving, Education Planning, General Financial Planning, Intergenerational Planning, Retirement Planning, Social Security Planning, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Anthony Ogorek
Ogorek Wealth Management, LLC
(716) 626-5000
6400 Sheridan Drive Suite 224
Williamsville, NY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, Ed.D.

Mr. Thomas J. Hanlon, CFP®
(716) 883-9595
1114 Delaware Avenue
Buffalo, NY
Firm
Courier Capital
Areas of Specialization
Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000



Data Provided by:
Mr. Daniel A. Roblin Iii, CFP®
(716) 849-3833
UBS
Buffalo, NY
Firm
UBS Financial Services
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $5,000,001 or more

Average Income: $500,001 - $1,000,000

Profession: Self-Employed Business Owners

Data Provided by:
Matthew J. Mancini, CFP®
(716) 848-7564
1 Fountain Plz Fl 1
Buffalo, NY
Firm
M&T Bank

Data Provided by:
Mr. William N. Hudson Iii, CFP®
(301) 840-2071
237 Main St Ste 600
Buffalo, NY
Firm
Hudson Advisor Services, Inc.
Areas of Specialization
Asset Allocation, General Financial Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

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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