Retirement Planning Elk Grove 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.

Michael Chamberlain
Chamberlain Financial Planning LLC
(800) 347-1340
777 Campus Commons Road Suite 200
Sacramento, CA
Expertises
Hourly Financial Planning Services, Ongoing Investment Management, Middle Income Client Needs, Insurance Related Issues, including Annuities, Newlyweds & Novice Investors, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®

Daniel Leahy
Pennington Financial Group
(916) 635-5858
11246 Gold Express Drive, Suite 102
Gold River, CA
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Tax Planning, Estate & Generational Planning Issues, Special Needs Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CRTP

Kevin Young
Young Wealth Management
(916) 418-0375
3814 Auburn Blvd., Suite #70
Sacramento, CA
Expertises
Estate & Generational Planning Issues, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Tax Planning, Retirement Planning & Distribution Rules, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®, EA, MBA

Ms. Joy D. Delman, CFP®
(916) 687-8776
8868 Tavernor Rd
Wilton, CA
Firm
G & F Financial Services

Data Provided by:
Mr. Ronald E. Meier, CFP®
(916) 362-2938
4001 S Watt Ave
Sacramento, CA
Firm
R.E.M. Financial
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Cindy Adams
Adams Financial Consulting
(916) 925-3500
650 University Ave, Ste 115
Sacramento, CA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®

Scott Draper
Pennington Financial Group
(916) 635-5858
11246 Gold Express Drive, Suite 102
Gold River, CA
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Retirement Plan Investment Advice, Tax Planning, Advising Medical Professionals, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Ms. Ava Havatzelet Field, CFP®
(916) 812-4090
9520 Golf Course Lane
Elk Grove, CA
Firm
Morgan Stanley Smith Barney, LLC

Data Provided by:
Mr. Glenn F. Delman, CFP®
(916) 687-8776
8868 Tavernor Rd
Wilton, CA
Firm
G & F Financial Services

Data Provided by:
Mr. Mark S. Hansen, CFP®
(916) 361-6000
8880 Cal Center Dr Ste 400
Sacramento, CA
Firm
Hansen & Associates Financial Group
Areas of Specialization
Comprehensive Financial Planning

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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