Retirement Planning Madison AL

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.

Velda Eugenias
Eugenias Advisory Group, LLC
(256) 655-7333
126 Waterchase Drive
Huntsville, AL
Expertises
Women's Financial Planning Issues, Ongoing Investment Management, Planning Issues for Business Owners, Estate & Generational Planning Issues, Insurance Related Issues, including Annuities, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Jessica Hovis
Longview Financial Advisors, Inc.
(256) 534-1196
220B Rhett Avenue
Huntsville, AL
Expertises
Retirement Planning & Distribution Rules, Insurance Related Issues, including Annuities, College/Education Planning, Cash Flow/Budgets/Credit Issues, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CLU

John Andrew Johnson, CFP®
(256) 772-9127
8097 Madison Blvd Ste 101
Madison, AL
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning

Data Provided by:
Mr. John M. Parker Jr., CFP®
(256) 325-1399
7600 Hwy 72 West
Madison, AL
Firm
LPL Financial
Areas of Specialization
Comprehensive Financial Planning

Data Provided by:
Mr. Jakie M. Childers Jr., CFP®
(256) 325-1002
7600 Hwy 72 West
Madison, AL
Firm
LPL Financial
Areas of Specialization
Investment Planning

Data Provided by:
Larry West
Longview Financial Advisors, Inc.
(256) 534-1196
220B Rhett Avenue
Huntsville, AL
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Tax Planning, Alternative or Private Investments, Real Estate Investments, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, EA, MBA

John G. Butterfield, CFP®
(256) 774-3046
3809 Sullivan St Ste 6
Madison, AL
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Intergenerational Planning, Investment Management

Data Provided by:
Mr. S. Phillip Poitevint Ii, CFP®
(256) 772-4646
100 Essex Ct Ste C
Madison, AL
Firm
Raymond James
Areas of Specialization
Asset Allocation, Education Planning, General Financial Planning, Insurance Planning, Investment Management, Investment Planning, Long-Term Care

Data Provided by:
Mr. Michael Ellis, CFP®
(256) 721-2694
7169 Highway 72 W Ste D
Madison, AL
Firm
Edward Jones Investments
Areas of Specialization
Asset Allocation, Banking, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning

Data Provided by:
Mr. Listiel A. Rock, CFP®
(347) 683-7797
196 Jeff Rd NW Apt 2401
Huntsville, AL
Firm
N/A

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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