Retirement Planning Frederick MD

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.

Mr. Chris M. Moran, CFP®
(240) 855-0007
3535 Urbana Pike
Frederick, MD
Firm
PRIME Wealth Management/ Commonwealth Financial Network

Data Provided by:
Mr. Timothy Jackson Custer, CFP®
(301) 694-8219
14 W. Patrick St
Frederick, MD
Firm
First Command Financial Servic
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, General Financial Planning, Government and Military
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Government Employees

Data Provided by:
Mr. Sean Mccomber, CFP®
(240) 215-4709
6 W 2nd St
Frederick, MD
Firm
Key Financial Group
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. Dario Cavazos, CFP®
(301) 360-9973
10 N Jefferson St Ste 201
Frederick, MD
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Education Planning, Estate Planning, General Financial Planning, Insurance Planning, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Yu Zhang, CFP®
(301) 631-7109
30 W Patrick St Fl 7
Frederick, MD
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Intergenerational Planning, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Medical/Dental Professionals

Data Provided by:
Mr. Brian L. Runkles, CFP®
(301) 360-9840
30 W Patrick St Ste 501
Frederick, MD
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Investment Management, Retirement Income Management

Data Provided by:
Mr. Scott A Mccaskill, CFP®
(301) 668-7366
220 West Patrick Street
Frederick, MD
Firm
McCaskill Financial
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Ms. Jennifer L. Johnson, CFP®
(301) 898-7824
11302 Daysville Rd
Frederick, MD
Firm
TurningPoint Benefit Group, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Government and Military, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Government Employees

Data Provided by:
Mr. Scott H. Geisbert, CFP®
(301) 624-1717
149 West Patrick Street
Frederick, MD
Firm
Legacy Financial Associates
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Ms. Laura E. Johnson, CFP®
(240) 285-5579
9624 Woodsboro Rd
Frederick, MD
Firm
Cetera Advisors 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....

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