Retirement Planning Killeen TX

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.

Mr. Paul R. Stringfellow, CFP®
(254) 699-1633
302 Millers Xing
Harker Heights, TX
Firm
Edward Jones

Data Provided by:
Mr. Peter A. Beronio, CFP®
(254) 526-6603
2601 Trimmier Rd
Killeen, TX
Firm
Beronio Wealth Planning Solutions
Areas of Specialization
Asset Allocation, Budget Development, Education Planning, Investment Management, Retirement Planning, Risk Management, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable



Data Provided by:
Mr. Peter James Beronio, CFP®
(254) 526-6603
2601 Trimmier Rd
Killeen, TX
Firm
Beronio Wealth Planning Solutions
Areas of Specialization
Asset Allocation, Budget Development, Education Planning, Investment Planning, Retirement Planning, Risk Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable



Data Provided by:
Mr. John J. Lister, CFP®
(254) 547-0773
2420 E Highway 190
Copperas Cove, TX
Firm
JOHN LISTER, CPA, CFP®

Data Provided by:
Ms. Shirley Culver, CFP®
(254) 947-0248
101 Salado Plaza Dr
Salado, TX
Firm
FPP Financial Services
Areas of Specialization
Securities

Data Provided by:
Ms. Susan B. Mitchell, CFP®
(254) 554-4426
2100 Trimmier Rd
Killeen, TX
Firm
Raymond James Financial Servic
Areas of Specialization
Comprehensive Financial Planning

Data Provided by:
Mrs. Deborah I Lawrence, CFP®
(254) 526-4559
3803 Levy Ln Ste 104
Killeen, TX
Firm
First Command Financial Plann
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Government Employees

Data Provided by:
Mr. Charles F Moore, CFP®
(254) 526-4559
1307 High Chapparal Dr
Copperas Cove, TX
Firm
First Command Financial Planning
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $100,000 or less

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



Data Provided by:
Mr. Jeffrey W. Mcclure, CFP®
(800) 914-7526
918 N Main St
Salado, TX
Firm
The Wealth Coach LLC, dba The
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management, Investment Planning, Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Bank of America - Harker Heights
(254) 690-7287
201 E. Central Texas Expy, Ste 1900
Harker Heights, TX
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Indoor ATM Services: Open 24 Hours, Braille, Accepts Deposits
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits, Drive Up
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-1
Sunday Closed
Drive Up Hours
Monday 7:30-6
Tuesday 7:30-6
Wednesday 7:30-6
Thursday 7:30-6
Friday 7:30-6
Saturday 9-1
Sunday Closed

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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