Retirement Planning Costa Mesa CA

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.

Glenn Woody
Glenn Woody Financial Consultants, Inc.
(714) 850-0534
151 Kalmus Drive, Suite C-150
Costa Mesa, CA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Scott Anderson
Anderson Financial Group
(949) 422-3484
4695 MacArthur Court #480
Newport Beach, CA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Tax Planning, Planning Issues for Business Owners, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, EA, MBA

Mark Rylance
RS Crum Inc.
(949) 428-9696
4 Upper Newport Plaza Drive, Suite 201
Newport Beach, CA
Expertises
Real Estate Investments, Ongoing Investment Management, High Net Worth Client Needs, Divorce Planning, Planning Issues for Business Owners, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®

Jon Theriault
RS Crum Inc.
(949) 428-9696
4 Upper Newport Plaza Drive, Suite 201
Newport Beach, CA
Expertises
High Net Worth Client Needs, Ongoing Investment Management, Advising Entrepreneurs, Advising Medical Professionals, Planning Issues for Business Owners, Real Estate Investments
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Carl Carpenter
Beacon Financial Partners, LLC
(714) 969-8484
2130 Main Street, Suite 233
Huntington Beach, CA
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Middle Income Client Needs, Helping Clients Identify & Achieve Goals, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, BS, CFA, CFP®

John Harms
Newport Financial Advisors
(949) 721-9960
110 Newport Center Drive, Suite 200
Newport Beach, CA
Expertises
Advising Medical Professionals, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Mark Wilson
The Tarbox Group, Inc.
(949) 721-2330
500 Newport Center Drive, Suite 500
Newport Beach, CA
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, APA, CFP®

Lauren Klein
Klein Financial Advisors, Inc.
(949) 477-4990
4299 MacArthur Blvd., Suite 100
Newport Beach, CA
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Divorce Planning, Retirement Planning & Distribution Rules, Tax Planning, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®, EA, MBA

Robert Greenberg
Greenberg | Graham Advisors, LLC
(714) 437-0040
2600 Michelson Drive, Suite 1700
Irvine, CA
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

David Barnett
Barnett Financial Planning
(714) 731-6300
1442 Irvine, Blvd., Suite 212
Tustin, CA
Expertises
Middle Income Client Needs, Retirement Plan Investment Advice, Ongoing Investment Management, Advising Medical Professionals, Real Estate Investments, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®

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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