Retirement Planning Cookeville 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.

Mr. Charles A. Sewell, CFP®
(931) 858-0902
PO Box 2328
Cookeville, TN
Firm
FSC Securities Corp.

Data Provided by:
Mr. Landon D. Vick, CFP®
(931) 528-6865
1080 Interstate Dr
Cookeville, TN
Firm
Cravens & Company Advisors, LLC

Data Provided by:
Mr. Tod Williams, CFP®
(931) 528-4750
345 S Jefferson Ave
Cookeville, TN
Firm
First Tennessee Brokerage

Data Provided by:
US Bank - Cookeville Washington Office
(931) 520-2950
105 N Washington Ave
Cookeville, TN
Drive Up Hours
Mon 08:00 am to 04:30 pm
Tue 08:00 am to 04:30 pm
Wed 08:00 am to 04:30 pm
Thur 08:00 am to 04:30 pm
Fri 08:00 am to 05:30 pm

Bank of America - Sparta
(931) 836-3277
469 West Bockman Way
Sparta, TN
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits, Drive Up
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-5
Saturday Closed
Sunday Closed
Drive Up Hours
Monday 8:30-4
Tuesday 8:30-4
Wednesday 8:30-4
Thursday 8:30-4
Friday 8:30-5
Saturday Closed
Sunday Closed

Mr. Stephen C. Smith, CFP®
(615) 520-0283
120 B S. Jefferson Ave
Cookeville, TN
Firm
Ameriprise Financial, Inc.

Data Provided by:
Mr. Glen Smith, CFP®
(931) 528-7077
241 E Veterans Dr Ste C
Cookeville, TN
Firm
Glen Smith

Data Provided by:
US Bank - Cookeville Jackson Office
(931) 520-2900
2 W Jackson St
Cookeville, TN
Drive Up Hours
Mon 08:00 am to 04:30 pm
Tue 08:00 am to 04:30 pm
Wed 08:00 am to 04:30 pm
Thur 08:00 am to 04:30 pm
Fri 08:00 am to 05:30 pm

US Bank - Sparta-West Bockman Office
(931) 836-2151
488 W Bockman Way
Sparta, TN
Drive Up Hours
Mon 08:00 am to 04:00 pm
Tue 08:00 am to 04:00 pm
Wed 08:00 am to 04:00 pm
Thur 08:00 am to 04:00 pm
Fri 08:00 am to 05:00 pm
Sat 08:00 am to 12:00 pm

US Bank - Sparta-Main Office
(931) 738-9500
189 Mose Dr
Sparta, TN
Drive Up Hours
Mon 08:00 am to 04:00 pm
Tue 08:00 am to 04:00 pm
Wed 08:00 am to 04:00 pm
Thur 08:00 am to 04:00 pm
Fri 08:00 am to 05:00 pm

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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