Retirement Planning Louisville KY

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.

Jerome Zimmerer
D. Scott Neal, Inc.
(502) 459-7199
950 Breckenridge Lane, Suite 115
Louisville, KY
Expertises
Ongoing Investment Management, Investment Advice without Ongoing Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, CPA/PFS

Gregory Curry
Pillar Financial Advisors, LLC
(502) 384-3890
3046 Breckenridge Lane
Louisville, KY
Expertises
Planning Concerns for Corporate Executives, High Net Worth Client Needs, Ongoing Investment Management, Retirement Plan Investment Advice, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFA, CPA/PFS

Stuart Coats
Coats Financial Planning
(502) 426-0300
804 Stone Creek Parkway, Suite 7
Louisville, KY
Expertises
Middle Income Client Needs, Hourly Financial Planning Services, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®, MBA

Mr. Andy R. Loving, CFP®
(502) 454-3839
1927 Harvard Dr
Louisville, KY
Firm
Just Money Advisors, Inc.

Data Provided by:
Mr. John A Mayfield, CFP®
(502) 448-7998
1851 Princeton Dr
Louisville, KY
Firm
Davis Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Scott Neal
D. Scott Neal, Inc.
(502) 459-7199
950 Breckenridge Lane, Suite 115
Louisville, KY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, Planning Issues for Business Owners, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, M.Div., MBA

Lisa Archer
Archer Financial Planning, LLC
(502) 403-1085
8401 Shelbyville Road, Suite 108
Louisville, KY
Expertises
Hourly Financial Planning Services, Retirement Planning & Distribution Rules, Investment Advice without Ongoing Management, College/Education Planning, Insurance Related Issues, including Annuities, Cash Flow/Budgets/Credit Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Ms. Sarah J. Schaaf, CFP®
(502) 553-0364
1553 Hill Road Ct
Louisville, KY
Firm
Sarah Jane Schaaf

Data Provided by:
James K. Childress, CFP®
(502) 365-4600
1000 Cherokee Rd
Louisville, KY
Firm
Ameriprise Financial
Areas of Specialization
Comprehensive Financial Planning, General Financial Planning, Investment Planning, Retirement Income Management, Retirement Planning

Data Provided by:
Mr. Bruce J. Roth, CFP®
(502) 315-7130
2100 Gardiner Ln
Louisville, KY
Firm
Louis T Roth & Co

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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