Retirement Planning East Providence RI

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.

Rebecca Preston
Preston Financial Planning
(401) 421-1777
251 Olney Street
Providence, RI
Expertises
Middle Income Client Needs, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Maxine Johnson
Foresight Personal Financial Planning, LLC
(508) 728-9454
P.O. Box 1059
Attleboro, MA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Investment Advice without Ongoing Management, Socially Responsible Investments, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CTFA, MBA

Joan Gagnon
Gagnon Wealth Mangement, LLC
(508) 339-8339
P.O. Box 334
Mansfield, MA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Women's Financial Planning Issues, Professional Athletes or Entertainers, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MST, PFS

Mr. Christopher Bartlett, CFP®
(401) 272-9100
One Catamore Boulevard
East Providence, RI
Firm
Andsager Bartlett & Pieroni LLP

Data Provided by:
Ms. Laura L. Gustafson, CFP®
(401) 331-4032
1 Richmond Sq Ste 150E
Providence, RI
Firm
Forbes Financial Planning
Areas of Specialization
Budget Development, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Government and Military

Data Provided by:
Angela Thomson
Coastal Financial Planning, Inc.
(401) 727-8151
12 Breakneck Hill Road, Suite 100
Lincoln, RI
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

David McPherson
Four Ponds Financial Planning, LLC
(508) 403-0060
20 Cabot Boulevard, Suite 300
Mansfield, MA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Middle Income Client Needs, Hourly Financial Planning Services, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®

Kevin Nulton
Titanium Advisors, LLC
(508) 528-3120
471 West Central Street
Franklin, MA
Expertises
College/Education Planning, Estate & Generational Planning Issues, Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, JD

Mr. Daniel P. Forbes, CFP®
(401) 331-4032
1 Richmond Sq Ste 150E
Providence, RI
Firm
Forbes Financial Planning, Inc
Areas of Specialization
Comprehensive Financial Planning, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Ms. Jennifer Lynne Hushion, CFP®
(401) 272-2300
325 Angell St
Providence, RI
Firm
JL Hushion Financial Planning LLC
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Cross-Border Planning, Divorce Issues, Education Planning, Elder Care
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $500,001 - $1,000,000

Profession: Medical/Dental Professionals

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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