Retirement Planning Jamaica Plain MA

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.

Victoria Marrone
Modera Wealth Management, LLC
(617) 247-0518
535 Boylston Street, Suite 300
Boston, MA
Expertises
Women's Financial Planning Issues, Cash Flow/Budgets/Credit Issues, Financial Psychology/Coaching, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA, PhD

Dana Levit
Paragon Financial Advisors
(617) 641-2446
1150 Walnut Street
Newton, MA
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Women's Financial Planning Issues, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Peter Disch
Disch & Associates, LLC
(617) 585-0050
10 Newbury Street, 4th Floor
Boston, MA
Expertises
High Net Worth Client Needs, Ongoing Investment Management, Advising Medical Professionals, Advising Entrepreneurs, Alternative or Private Investments, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Eric Sneider
Bromfield Financial Advisory Group, Inc.
(617) 252-3400
10 Rogers Street
Cambridge, MA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Divorce Planning, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®

Charlo Maurer
Peace of Money
(617) 744-0193
5 Appleton Street
Watertown, MA
Expertises
Ongoing Investment Management, Real Estate Investments, Socially Responsible Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BA, M.Ed., MS

Philip Lee
Modera Wealth Management, LLC
(617) 247-0518
535 Boylston Street, Suite 300
Boston, MA
Expertises
Ongoing Investment Management, Divorce Planning, College/Education Planning, Newlyweds & Novice Investors, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®

Gayle Buff
Buff Capital Management
(617) 641-2377
111 Hyde Street
Newton, MA
Expertises
Ongoing Investment Management, Advising Entrepreneurs, Advising Medical Professionals, Planning Issues for Business Owners, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, BS, CFA, CFP®, MBA, MS

Robert Siefert
Modera Wealth Management, LLC
(617) 247-0518
535 Boylston Street, Suite 300
Boston, MA
Expertises
High Net Worth Client Needs, Planning Concerns for Corporate Executives, Charitable Giving - Trusts & Foundations, Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

James Pinney
Pinney & Scofield, Inc.
(617) 492-6223
22 Hilliard Street
Cambridge, MA
Expertises
Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BA, CFA, CFP®

Kevin Nulton
Titanium Advisors, LLC
(508) 528-3120
225 Franklin Street
Boston, MA
Expertises
College/Education Planning, Estate & Generational Planning Issues, Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, JD

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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