Retirement Planning Harrisonburg 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.

Lynn Diveley
Diveley Lind & Associates LLC
(540) 363-2275
PO Box 128
Ft. Defiance, VA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Charitable Giving - Trusts & Foundations, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, CFP®

Ms. Linda S. Hoover, CFP®
(540) 434-0484
165 S Main St Ste E
Harrisonburg, VA
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. Stephen M. Cavanaugh, CFP®
(540) 433-2796
205 S Liberty St
Harrisonburg, VA
Firm
LD&B Insurance
Areas of Specialization
Comprehensive Financial Planning, Socially Responsible Investments
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. William C. Loomis Iii, CFP®
(540) 434-2505
1954 Evelyn Byrd Avenue
Harrisonburg, VA
Firm
Loomis Wealth Management, LLC
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Marshall F. Kiser, CFP®
(540) 434-9926
PO Box 1187
Harrisonburg, VA
Firm
Wells Fargo Advisors

Data Provided by:
Mr. David T. Larson, CFP®
(540) 574-4391
578 East Market St.
Harrisonburg, VA
Firm
Bluestone Financial Solutions
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Planning

Data Provided by:
Mr. Norman J. Stern, CFP®
(540) 438-0547
305 Lucy Drive
Harrisonburg, VA
Firm
Stern & Heatwole Financial Group, PC
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Debt Management, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Stephan John Hess, CFP®
(540) 246-0122
560 Neff Ave Ste 600
Harrisonburg, VA
Firm
Commonwealth Financial Network
Areas of Specialization
Comprehensive Financial Planning, LGBT Individuals and Couples, Life Planning, Retirement Income Management, Retirement Planning, Social Security Planning, Special Needs Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Dale Lam, CFP®
590 Neff Ave Ste 4000
Harrisonburg, VA
Firm
Strategent Financial, LLC

Data Provided by:
Mr. Kenneth J. Rogers, CFP®
(540) 442-6426
2262 Blue Stone Hill Dr
Harrisonburg, VA
Firm
Rogers Financial Group Inc
Areas of Specialization
Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

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