Retirement Planning Hilton Head Island SC

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.

Desmond Quigley
Quigley Financial
(678) 520-2327
254 Oak Forest Rd
Bluffton, SC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Tax Planning, Cash Flow/Budgets/Credit Issues, Advising Employee Benefit Plan Participants
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Mr. Mulford B. Simons, CFP®
(843) 686-9327
One Greenwood Drive
Hilton Head Island, SC
Firm
Wells Fargo Bank - The Private Bank
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning

Data Provided by:
Mr. Nathaniel B.P. Jones, CFP®
(843) 681-8300
P.O. Box 21489
Hilton Head, SC
Firm
Hilton Head Financial Advisors, Inc.

Data Provided by:
Mrs. Donna R. Soper, CFP®
(800) 544-8672
807 William Hilton Pkwy Ste 1301A
Hilton Head Island, SC
Firm
Fidelity Investments

Data Provided by:
Mr. Kent N. Thune, CFP®
(843) 214-0691
3 Cardinal Ct # 169
Hilton Head Island, SC
Firm
Atlantic Capital Investments,
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, General Financial Planning, Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Service Professionals

Data Provided by:
Teryl Tornroos
Evergreen Financial Planning, LLC
(912) 373-6698
2 Navigator Lane
Savannah, GA
Expertises
Helping Clients Identify & Achieve Goals, Tax Planning, College/Education Planning, Hourly Financial Planning Services, Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Ms. Michelle A. Myhre, CFP®
(843) 757-9339
PO Box 7318
Hilton Head Island, SC
Firm
Oak Advisors, LLC

Data Provided by:
Ms. Jennifer E Stupica, CFP®
(843) 341-9534
1 Chamber of Commerce Dr
Hilton Head Island, SC
Firm
Merrill Lynch Hilton Head Island, SC 29928
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Life Transitions, Retirement Income Management, Retirement Planning, Women's Finances

Data Provided by:
Ms. Emily A. Johnson, CFP®
(843) 686-2425
23B Shelter Cove Lane
Hilton Head, SC
Firm
Polaris Capital Advisors, LLC

Data Provided by:
Mr. Todd R. Rhine, CFP®
(843) 682-4041
7 Finch Street
Hilton Head Island, SC
Firm
Todd Rhine Planning
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

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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