Retirement Planning Edmond OK

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.

Scott Logan
Asset Planning Solutions, LLC
(405) 608-3099
1233 E. 33rd
Edmond, OK
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Alternative or Private Investments, Women's Financial Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. John D. Mitchell, CFP®
(405) 348-3236
1320 E 9th St Ste 9
Edmond, OK
Firm
LPL Financial Services

Data Provided by:
Mrs. Christi S Powell, CFP®
(405) 752-7072
14809 Carlingford Way
Edmond, OK
Firm
Falcon Financial of Oklahoma, LLC
Areas of Specialization
Asset Allocation, Education Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Management, Retirement Income 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. Jeffery A. Price, CFP®
(405) 844-4265
3540 S Boulevard Ste 110
Edmond, OK
Firm
Wells Fargo Advisors, LLC
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. B. Scott Logan, CFP®
(405) 608-3099
1233 E 33rd St
Edmond, OK
Firm
Asset Planning Solutions
Areas of Specialization
Investment Management

Data Provided by:
Mr. Kendall W. King, CFP®
(405) 705-2906
229 N Broadway Ste A
Edmond, OK
Firm
The Legacy Financial Group Inc
Areas of Specialization
Asset Allocation, Education Planning, Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Mr. D. Chad Ferrell, CFP®
(405) 341-9942
301 N Bryant Ave
Edmond, OK
Firm
Ferrell Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, General Financial Planning, Government and Military, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Richard L. Sprong, CFP®
(800) 375-1776
PO Box 31616
Edmond, OK
Firm
ProEquities

Data Provided by:
Mr. John Kevin Maloney, CFP®
(405) 341-4771
1425 Fretz Ave
Edmond, OK
Firm
Waddell & Reed Financial, Inc.

Data Provided by:
Mr. Gregory W. Smith, CFP®
(405) 844-4265
3540 S Boulevard Ste 110
Edmond, OK
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

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....

Click here to read the rest of this article at Zacks.com