Retirement Planning Grand Junction CO

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. Dennis M. Eichinger, CFP®
(970) 242-6446
225 N 5th St Ste 515
Grand Junction, CO
Firm
Eichinger Wealth Management Inc

Data Provided by:
Daniel A. Funderburk, CFP®
(970) 245-3800
706 S 9th St
Grand Junction, CO
Firm
Legacy Wealth Management, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning, Insurance Planning, Retirement Planning

Data Provided by:
Mrs. Candice R Walton, CFP®
(970) 243-9928
743 Horizon Court
Grand Junction, CO
Firm
Ameriprise

Data Provided by:
David B. Hutton, CFP®
(970) 255-9350
601 28 1/4 Rd Unit C
Grand Junction, CO
Firm
Edward Jones

Data Provided by:
Justin T Reed, CFP®
(970) 243-4480
480 W Park Dr
Grand Junction, CO
Firm
Waddell & Reed
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Douglas May
244 North Seventh St., Suite B
Grand Junction, CO
Company
Title: Financial Advisor
Company: May Investments
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Stanford University/Economics (1983)
Years Experience
Years Experience: 26
Service
Investment & Portfolio Management,Estate Tax Planning,Fee-Only Comprehensive Financial Planning,Retirement Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Wealth Management,Investment Consulting & Allocation Design,Retirement Income Distribution Planning

Data Provided by:
Mr. Mathew J. Higgins, CFP®
(970) 242-0027
619 Main St #180
Grand Junction, CO
Firm
Ameriprise Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. John T. Connolly, CFP®
(970) 241-4900
607 28 1/4 Rd Ste 201
Grand Junction, CO
Firm
Connolly Financial Group
Areas of Specialization
Investment 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. Gerrit Van Dijk Jr., CFP®
(970) 242-1098
2754 Compass Dr Ste 309
Grand Junction, CO
Firm
Ameriprise Financial Services,

Data Provided by:
Mr. David A. Skinner, CFP®
(970) 254-3343
120 W Park Dr Ste 105
Grand Junction, CO
Firm
Wells Fargo Advisors
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Investment Management, Retirement Income Management, Retirement Planning, Risk Management

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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