Retirement Planning Canton OH

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.

Harlan Storey
Storey & Associates
(330) 526-8944
1360 South Main Street
North Canton, OH
Expertises
Charitable Giving - Trusts & Foundations, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, JD

Mr. James A. Reinhard, CFP®
(330) 933-0500
1201 30th St NW Ste 2-A
Canton, OH
Firm
iThink Financial Consulting
Areas of Specialization
Life Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Ms. Lisa Ellingen Waterfall, CFP®
(330) 492-4470
100 30th St. NW
Canton, OH
Firm
Integrity Investments & Planni

Data Provided by:
Mr. Randall S. Kreinbrink, CFP®
(330) 497-5304
4383 Executive Cir NW
Canton, OH
Firm
Ameriprise Financial
Areas of Specialization
Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning, General Financial Planning, Government and Military, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Matthew Lysiak, CFP®
(330) 470-7753
4150 Belden Village St NW Ste 300
Canton, OH
Firm
Northwestern Mutual
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, General Financial Planning
Key Considerations
Average Income: $100,001 - $250,000



Data Provided by:
Mario Giganti
Cornerstone Capital Advisors
(330) 896-6250
1507 Boettler Road, Suite G
Uniontown, OH
Expertises
Charitable Giving - Trusts & Foundations, Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, AIFA, CFP®, CPA

Mr. Philip R. Harper, CFP®
(330) 454-8845
1800 Tuscarawas St W
Canton, OH
Firm
Stark Tax & Financial Service

Data Provided by:
Mr. Douglas G. Wilson, CFP®
(330) 491-4023
4455 Dressler Rd NW, Suite 202
Canton, OH
Firm
Morgan Stanley Wealth Management

Data Provided by:
Mr. Scott W. Sieverts, CFP®
(330) 497-5304
4383 Executive Circle N.W.
Canton, OH
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management, Long-Term Care, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Raymond N. Latiano, CFP®
(330) 470-7744
4150 Belden Village St NW Ste 300
Canton, OH
Firm
Northwestern Mutual
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

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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