Retirement Planning Charlottesville VA

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.

Robert Arms
Marotta Wealth Management, Inc.
(434) 244-0000
One Village Green Circle, Suite 100
Charlottesville, VA
Expertises
Helping Clients Identify & Achieve Goals, Insurance Related Issues, including Annuities, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AIF, ChFc, CLU

Nora Gillespie
The Wrightbridge Company, Inc.
(434) 971-6825
1227 Cedars Court
Charlottesville, VA
Expertises
Cash Flow/Budgets/Credit Issues, College/Education Planning, Insurance Related Issues, including Annuities, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, CFS, MA

Mr. Adam O. Snider, CFP®
(434) 220-9397
684 Berkmar Cir
Charlottesville, VA
Firm
C-VILLE FINANCIAL
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Investment Management, Retirement Planning

Data Provided by:
James M. Masloff, CFP®
(434) 951-9988
941 Glenwood Station Ln Ste 201
Charlottesville, VA
Firm
Raymond James Financial Services
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Investment Management, Retirement Planning, Small Business Planning

Data Provided by:
Mr. Steven Moultrie Ball, CFP®
(434) 973-3457
620 Woodbrook Dr.
Charlottesville, VA
Firm
Ameriprise Financial
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Investment Planning, Retirement Planning
Key Considerations
Profession: Not Applicable

Data Provided by:
David Marotta
Marotta Wealth Management, Inc.
(434) 244-0000
One Village Green Circle, Suite 100
Charlottesville, VA
Expertises
Ongoing Investment Management, College/Education Planning, Financial Issues Between Generations, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AAMS, AIF, CFP®

Mr. Samuel W. Kan, CFP®
(434) 326-1226
600 Massie Road
charlottesville, VA
Firm
US Army
Areas of Specialization
Estate Planning, Government and Military, Legal Advice, Real Estate, Tax Planning, Tax Preparation
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Government Employees

Data Provided by:
Mr. Matthew H Dawson, CFP®
(434) 984-7108
304 E Water St
Charlottesville, VA
Firm
Stifel Nicolaus

Data Provided by:
Mr. William S. Mallory, CFP®
(434) 296-3835
114 4th St SE
Charlottesville, VA
Firm
Personal Financial Management & Counseling, LLC

Data Provided by:
Mr. John C. Dean, CFP®
(434) 951-9988
Dean & Masloff, An Independent Firm
Charlottesville, VA
Firm
Raymond James Financial Services, Inc. Member FINRA/SIPC
Areas of Specialization
Comprehensive Financial Planning, Investment 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....

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