Retirement Planning Indianapolis IN

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.

Brent Perry
Piedmont Financial Advisors, LLC
(317) 287-0575
320 N. Meridian St., Suite 614
Indianapolis, IN
Expertises
Middle Income Client Needs, Cash Flow/Budgets/Credit Issues, Newlyweds & Novice Investors, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, CFP®

John Miley
Ronald Blue & Co., LLC
(317) 582-0700
9229 Delegates Row, Suite 450
Indianapolis, IN
Expertises
High Net Worth Client Needs, Estate & Generational Planning Issues, Ongoing Investment Management, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CPA, PFS, MTX

John Trott
Valeo Financial Advisors, LLC
(317) 218-6000
9450 N. Meridian Street, Suite 300
Indianapolis, IN
Expertises
Advising Medical Professionals, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, High Net Worth Client Needs, Ongoing Investment Management, Alternative or Private Investments
Certifications
NAPFA Registered Financial Advisor, CFP®

William Howell
Howell Financial Advisors, Inc.
(317) 877-8000
3815 River Crossing Parkway
Indianapolis, IN
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, High Net Worth Client Needs, Women's Financial Planning Issues, Helping Clients Identify & Achieve Goals, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CPA

Brad Cougill
Deerfield Financial Advisors, Inc.
(317) 469-2455
8440 Woodfield Crossing Boulevard, Suite 360
Indianapolis, IN
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Ryan Thomas
Column Capital Advisors, LLC
(317) 663-6508
8888 Keystone Crossing, Suite 1675
Indianapolis, IN
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Tax Planning, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Richard Bellmer
Deerfield Financial Advisors, Inc.
(317) 469-2455
8440 Woodfield Crossing Boulevard, Suite 360
Indianapolis, IN
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, CLU

Philip Fox
Ronald Blue & Co., LLC
(317) 582-0700
9229 Delegates Row, Suite 450
Indianapolis, IN
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Charitable Giving - Trusts & Foundations, Financial Issues Between Generations, Estate & Generational Planning Issues, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

Elaine Bedel
Bedel Financial Consulting, Inc.
(317) 843-1358
3815 River Crossing Pkwy. Ste 120
Indianapolis, IN
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MBA

Paul Coan
Wealth Planning and Management, LLC
(317) 577-4426
3815 River Crossing Parkway Suite 100
Indianapolis, IN
Expertises
High Net Worth Client Needs, Advising Medical Professionals, Estate & Generational Planning Issues, Cash Flow/Budgets/Credit Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc

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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