Retirement Planning Fredericksburg VA

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. Daniel J. Bender, CFP®
(540) 371-3566
725 Jackson St
Fredericksburg, VA
Firm
PBGH Financial Advisors, Inc.

Data Provided by:
Mr. Charles P. Bianchi, CFP®
(540) 548-3009
7411 River Rd
Fredericksburg, VA
Firm
Wealth Conservancy Intl Inc
Areas of Specialization
Asset Allocation, Education Planning, General Financial Planning, Government and Military, Investment Management, Retirement Income Management, Securities
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Medical/Dental Professionals

Data Provided by:
Mr. Richard S. Gardner (RFC®), CFP
(540) 907-2720
76 Water Way
Stafford, VA
Company
Lionheart Financial Planning, Inc.
Qualifications
Education: BS in Finance, University of MarylandCFP Certification Professional Education Program, College for Financial Planning
Years of Experience: 7
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Charitable Planning, Education Plan, Compensation Plans

Data Provided by:
Mr. Richard S. Gardner, CFP®
(540) 907-2720
76 Water Way
Stafford, VA
Firm
Lionheart Financial Planning, Inc.
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, General Financial Planning, Government and Military, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Service Professionals

Data Provided by:
Mr. Francis Xavier Bergmeister, CFP®
103 Columbus Cove
Stafford, VA
Firm
Germanna Community College
Areas of Specialization
Education Planning, Government and Military, Investment Management, Retirement Planning, Sudden Wealth Management

Data Provided by:
Mr. Michael J. Hayes Jr., CFP®
(540) 604-5690
107 Amelia St
Fredericksburg, VA
Firm
AXA Advisors, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Elder Care, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Non-Profit Employees

Data Provided by:
Mr. Ian T. Prymak, CFP®
(540) 661-2306
11906 Ziyad Dr
Fredericksburg, VA
Firm
Prymak Wealth Management
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Debt Management, 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. Mark H. O'Connor, CFP®
(540) 659-7060
125 Woodstream Blvd Ste 115
Stafford, VA
Firm
First Command Financial Planning
Areas of Specialization
Employee and Employer Plan Benefits, Government and Military, Retirement Planning, Risk Management, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Brian R. Shortess, CFP®
(540) 659-7060
125 Woodstream Blvd Ste 115
Stafford, VA
Firm
First Command Financial Planning

Data Provided by:
Mr. David M Surgent, CFP®
(540) 659-7060
385 Garrisonville ROad
Stafford, VA
Firm
First Command 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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