Retirement Planning Lancaster PA

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.

Michael Helveston
Rodgers & Associates Ltd.
(717) 560-3800
647 E. Roseville Road
Lancaster, PA
Expertises
Ongoing Investment Management, Tax Planning, Insurance Related Issues, including Annuities, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CRPC

Lita "Lee" Pelko
Rodgers & Associates Ltd.
(717) 560-3800
647 E. Roseville Road
Lancaster, PA
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CRPC

William Heidig
FiscalWise, Inc.
(610) 891-7760
1756 Columbia Avenue
Lancaster, PA
Expertises
Retirement Planning & Distribution Rules, Advising Entrepreneurs, Women's Financial Planning Issues, Advising Medical Professionals, Planning Issues for Business Owners, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Mr. Michael D. Novak, CFP®
(717) 560-2813
24B E Roseville Rd
Lancaster, PA
Firm
Life Stewardship Advisors
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Mr. John E Muscalus Iii, CFP®
(717) 392-3600
1681 Crown Ave Ste 101
Lancaster, PA
Firm
Ameriprise Financial Services

Data Provided by:
Timothy Decker
ISI Financial Group, Inc.
(717) 393-3353
26A East Roseville Road
Lancaster, PA
Expertises
Retirement Planning & Distribution Rules, High Net Worth Client Needs, Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, AIF

Rick Rodgers
Rodgers & Associates Ltd.
(717) 560-3800
647 E. Roseville Road
Lancaster, PA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CRC, CRPC

Mr. Michael S. Helveston, CFP®
(717) 560-3800
2025 Lititz Pike
Lancaster, PA
Firm
Rodgers & Associates
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management, Retirement Income Management

Data Provided by:
Ronald C. Allison (RFC®), CHFC, CSA
(717) 393-3876
930 Red Rose Court, Suite 209
Lancaster, PA
Company
Century Tax & Wealth Mgmt., LLC
Qualifications
Education: BS AccountingMS Taxation
Years of Experience: 29
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Stephen T. Kirchner, CFP®
(717) 519-4171
1650 Crooked Oak Drive
Lancaster, PA
Firm
Janney Montgomery Scott LLC
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

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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