Retirement Planning High Point NC

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.

Gregory Yahn
Yahn Financial Planning
(336) 478-2363
7800 Airport Center Drive, Suite 401
Greensboro, NC
Expertises
Middle Income Client Needs, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

M.James McKee
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, ChFc, CLU, CPA, MBA

Mrs. Elizabeth W. Terrell, CFP®
(336) 881-3604
P. O. Box 2278
High Point, NC
Firm
High Point Bank

Data Provided by:
Mr. Jamie David Sledge, CFP®
(336) 889-3013
115 W State Ave
High Point, NC
Firm
Sledge and Company, PLLC

Data Provided by:
Mr. Robert C. Blakely, CFP®
(336) 885-2530
1008 Hutton Ln
High Point, NC
Firm
Blakely Financial Inc
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Business Executives

Data Provided by:
Dennis Stearns
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, High Net Worth Client Needs, Planning Issues for Business Owners, Estate & Generational Planning Issues, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFS

Barry Swaim
Wealth Management Group, Inc.
(336) 760-4829
3401 Healy Drive
Winston-Salem, NC
Expertises
Retirement Plan Investment Advice, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Investment Advice without Ongoing Management, Middle Income Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Stanley R. Smith, CFP®
(336) 881-3345
300 N Main St
High Point, NC
Firm
High Point Bank Trust and Investment Advisors

Data Provided by:
Ms. Jill A. Painter, CFP®
(336) 887-6000
1721 N Main Street
High Point, NC
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Investment Management, Investment Planning, Retirement Planning, Wealth Management, Women's Finances

Data Provided by:
Bradford Cecil Clinard, CFP®
(336) 878-7507
1725 N Main St
High Point, NC
Firm
Wells Fargo Advisors
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management, Risk Management, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



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