Retirement Planning Las Cruces NM

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. Charles J. Wagner, CFP®
(505) 556-8514
2455 Missouri Ave Ste A
Las Cruces, NM
Firm
Wagner Financial Services, LLC

Data Provided by:
Mr. Frank D. Szalay, CFP®
(575) 526-9006
650 Montana Ave Ste I
Las Cruces, NM
Firm
Raymond James Financial Services, Inc.

Data Provided by:
Bryce Andersen, CFP®
(575) 521-5130
425 S Telshor Blvd Ste C101
Las Cruces, NM
Firm
Merrill Lynch Bank & Trust Co., Fsb
Areas of Specialization
Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Brent A Lambert, CFP®
(575) 521-2355
3050 Roadrunner Pkwy
Las Cruces, NM
Firm
Morgan Stanley

Data Provided by:
Wells Fargo - Wal-Mart Las Cruces
(575) 526-1228
571 Walton Blvd
Las Cruces, NM
Type
In-Store Branch
Office Hours
Mon-Thu 10:00 AM-06:00 PM
Fri 10:00 AM-07:00 PM
Sat 10:00 AM-06:00 PM
Sun Closed

Donald K Shaw, CFP®
(575) 523-7444
2452 Missouri Ave
Las Cruces, NM
Firm
Kriegel/Gray/Shaw & Co., P.C. Certified Public Accountants
Areas of Specialization
Accounting, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Small Business Planning, Tax Planning

Data Provided by:
Mr. Carl R. Overmyer, CFP®
(575) 541-6501
340 N Water St
Las Cruces, NM
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Gerard W. De Long (RFC®), CSA
(505) 521-4434
1801 Pinehurst
Las Cruces, NM
Company
Las Cruces Investment Center
Qualifications
Education: BS - Aerospace Engineering, MS - Aerospace Engineering
Years of Experience: 38
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Wells Fargo - Las Cruces El Paseo & University
(575) 527-0036
2505 El Paseo Rd
Las Cruces, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Wells Fargo - South Main Mb
(575) 526-7214
600 S Main St
Las Cruces, NM
Type
Motor Bank
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun 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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