Retirement Planning Harrisburg PA

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.

Jeffrey McClarren
McClarren Financial Advisors
(866) 760-4036
Bldg #1, Suite 214
Harrisburg, PA
Expertises
Ongoing Investment Management, Middle Income Client Needs, Retirement Planning & Distribution Rules, Tax Planning, Helping Clients Identify & Achieve Goals, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Mr. Anthony J. Hines, CFP®
(717) 783-4892
30 North 3rd St
Harrisburg, PA
Firm
Deferred Compensation Program

Data Provided by:
Mr. Michael J Hallinan Jr., CFP®
(717) 730-3310
114 N. 2nd Street
Harrisburg, PA
Firm
TD Ameritrade

Data Provided by:
Mr. Steven L. Spong, CFP®
(717) 657-8878
801 East Park Drive
Harrisburg, PA
Firm
Ranker-Hanshaw Financial Group
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Wayne A. Logue, CFP®
(717) 975-0202
342 N Front St
Wormleysburg, PA
Firm
Ameriprise

Data Provided by:
Donald DeMuth
Mighty Oak Strong America Investment Company
(717) 790-9001
940 Century Drive, Suite B
Mechanicsburg, PA
Expertises
Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CHBC, CPA/PFS, MBA

Mr. Michael D. Lutz, CFP®
(717) 221-3002
2 North Second Street - 12th Floor
Harrisburg, PA
Firm
BNY Mellon Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Estate Planning, Investment Management, Retirement Planning, Tax Planning, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Michael M. Hoffman, CFP®
(717) 257-7531
22 N 2nd St Ste A
Harrisburg, PA
Firm
Charles Schwab
Areas of Specialization
Banking, Comprehensive Financial Planning, Government and Military, Insurance Planning, Investment Management, Mortgages, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Government Employees

Data Provided by:
Mr. Samuel S. Lindenberg, CFP®
(717) 540-7807
800 Corporate Cir
Harrisburg, PA
Firm
Team Financial Managers
Areas of Specialization
Asset Allocation, General Financial Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. M. Wayne Neff, CFP®
(717) 614-6100
645 N 12th St Ste 102
Lemoyne, PA
Firm
Heritage Wealth Advisers, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Elder Care, Estate Planning, General 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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