Retirement Planning East Amherst NY

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.

Anthony Ogorek
Ogorek Wealth Management, LLC
(716) 626-5000
6400 Sheridan Drive Suite 224
Williamsville, NY
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, Ed.D.

Mr. Robert S. Wills, CFP®
(716) 210-1002
8600 Transit Rd
East Amherst, NY
Firm
Waddell & Reed Inc
Areas of Specialization
Comprehensive Financial Planning

Data Provided by:
Mr. Thomas A. Carlsen, CFP®
(716) 276-3069
2805 Wehrle Drive
Williamsville, NY
Firm
SagePoint Financial

Data Provided by:
Mr. Daniel M. Abelson, CFP®
(716) 634-3692
6636 Main Street
Williamsville, NY
Firm
Abelson & Company, LLC
Areas of Specialization
Insurance Planning, Investment Planning, Long-Term Care, Retirement Income Management, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Mr. Scott B. Schickling, CFP®
(716) 639-0081
8616 Main Street
Williamsville, NY
Firm
Scott B. Schickling, CPA, CFP

Data Provided by:
Joseph Raimond
Raimond Financial Planning
(716) 692-8648
1876 Niagara Falls Boulevard, Suite 2
Tonawanda, NY
Expertises
Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Insurance Related Issues, including Annuities, Ongoing Investment Management, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MS

Mr. Kevin E. Flint, CFP®
(716) 580-1133
6255 Sheridan Dr Ste 300
Buffalo, NY
Firm
Sagemark Consulting
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Richard N. Fichter Iii, CFP®
(716) 631-3232
25 California Dr
Williamsville, NY
Firm
Fichter Wealth Management, Inc
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Ms. Kathie A. Hawk, CFP®
(716) 635-4321
6245D Sheridan Dr
Williamsville, NY
Firm
Merrill Lynch

Data Provided by:
Mr. Patrick A. Mcmahon, CFP®
(716) 634-8705
19 Limestone Dr Ste 5
Williamsville, NY
Firm
Independent Planner LLC

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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