Retirement Planning Columbia SC

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.

Cheryl Holland
Abacus Planning Group, Inc.
(803) 933-0054
2500 Devine Street
Columbia, SC
Expertises
Planning Issues for Business Owners, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Advising Medical Professionals, Helping Clients Identify & Achieve Goals, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Laura Scharr-Bykowsky
Ascend Financial Planning, LLC
(803) 331-3721
556 Regatta Road
Columbia, SC
Expertises
Hourly Financial Planning Services, Helping Clients Identify & Achieve Goals, College/Education Planning, Retirement Plan Investment Advice, Investment Advice without Ongoing Management, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Mr. Wade F. Ward Jr., CFP®
(803) 929-0720
1925 Gadsden St
Columbia, SC
Firm
Ward Financial Advisors Ltd

Data Provided by:
Mr. John S. Williamson Iii, CFP®
(803) 254-0029
500 Taylor St Ste 402
Columbia, SC
Firm
J S Williamson & Associates In

Data Provided by:
Mr. Matthew Thomas Perry, CFP®
(803) 750-9337
1813 Pickens Street
Columbia, SC
Firm
Ameriprise Financial

Data Provided by:
R. Edward Powell
Powell Financial Advisors
(803) 929-0100
433 Hampton Creek Court
Columbia, SC
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Mr. Daniel G. Smith, CFP®
(803) 931-1706
1230 Main St
Columbia, SC
Firm
First Citizens Bank

Data Provided by:
Mr. Gary S Roberson, CFP®
(803) 790-1677
3924 Forest Dr Ste 1
Columbia, SC
Firm
Roberson & Roberson Financial, Inc.

Data Provided by:
Ms. Ashleigh Jenkins Brooker, CFP®
(803) 724-1235
1320 Main St Ste 300
Columbia, SC
Firm
A.J. Brooker Financial Assoiciates, LLC
Areas of Specialization
Comprehensive Financial Planning, Investment Planning, Life Transitions, Retirement Income Management, Retirement Planning, Women's Finances, Young Professionals
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Stokes K. Shealy Jr., CFP®
(803) 765-3148
1441 Main St 16th floor
Columbia, SC
Firm
Wells Fargo Advisors

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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