Retirement Planning Chattanooga TN

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.

David Hodges
Integra Wealth, LLC
(423) 664-0344
871 McCallie Avenue
Chattanooga, TN
Expertises
Planning Issues for Business Owners, Advising Medical Professionals, Planning Issues for Unmarried & Same-Sex Couples, Tax Planning, Retirement Planning & Distribution Rules, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®

Jim Tarvin
Guardian Wealth Management Inc.
(423) 510-0409
6151 Shallowford Road, Suite 102
Chattanooga, TN
Expertises
Ongoing Investment Management, Advising Employee Benefit Plan Participants, Financial Issues Between Generations, Hourly Financial Planning Services, Cash Flow/Budgets/Credit Issues, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®

Mr. Edward C. O'Brien Iii, CFP®
(423) 757-7632
1 Union Sq
Chattanooga, TN
Firm
UBS

Data Provided by:
Ms. Holly D Bell-Proshkin, CFP®
(423) 752-4755
832 Georgia Ave Ste 1200
Chattanooga, TN
Firm
Morgan Stanley Wealth Management

Data Provided by:
Ms. Linda K. Mosley, CFP®
601 Market St
Chattanooga, TN
Firm
Regions Bank

Data Provided by:
Don VanLandingham
Guardian Wealth Management Inc.
(423) 510-0409
6151 Shallowford Road, Suite 102
Chattanooga, TN
Expertises
High Net Worth Client Needs, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

Mr. David A Hodges, CFP®
(423) 827-3611
871 McCallie Avenue
Chattanooga, TN
Firm
Integra Wealth, LLC
Areas of Specialization
Business Succession Planning, Divorce Issues, LGBT Individuals and Couples, Retirement Planning, Tax Planning, Wealth Management, Women's Finances
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Medical/Dental Professionals

Data Provided by:
Mark C. Hilke, CFP®
(423) 425-3029
1 Union Sq Ste 400
Chattanooga, TN
Firm
Raymond James
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Investment Management, Retirement Planning, Risk Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Alan W. Van Cleef, CFP®
(423) 752-1577
601 Market St Fl 2
Chattanooga, TN
Firm
Regions Morgan Keegan Trust
Areas of Specialization
Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000



Data Provided by:
Mr. D. John Rivera, CFP®
(423) 643-8826
800 Market St
Chattanooga, TN
Firm
Synovus Securities

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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