Retirement Planning Martinsburg WV

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.

Archibald Hoxton
Hoxton Financial, Inc.
(304) 876-2619
8530 Shepherdstown Pike
Shepherdstown, WV
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, AAMS, AIF, CFP®

Mr. Frederick M. Hollida, CFP®
(304) 263-0891
201 E Burke St
Martinsburg, WV
Firm
CoxHollidaPrice LLP
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care

Data Provided by:
Mr. J. Edward Slonaker, CFP®
(304) 263-0854
PO Box 6008
Martinsburg, WV
Firm
Morgan Financial Group LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Estate Planning, General Financial Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Business Executives

Data Provided by:
Mr. Herald F. Bennett, CFP®
(304) 725-6090
118 N Charles St
Charles Town, WV

Data Provided by:
Mr. Thomas L. Peterson, CFP®
(717) 261-3647
101 S Washington St
Berkeley Springs, WV
Firm
CNB Bank

Data Provided by:
Archibald Hoxton
Hoxton Financial, Inc.
(301) 244-0320
19756 Longmeadow Road
Hagerstown, MD
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, AAMS, AIF, CFP®

Ms. Joanne Wadsworth, CFP®
(304) 262-4964
148 S Queen St
Martinsburg, WV
Firm
BB&T Investments

Data Provided by:
Mr. Archibald R. Hoxton Iv, CFP®
(304) 876-2619
PO Box E
Shepherdstown, WV
Firm
Hoxton Financial, Inc. d/b/a HFI Wealth Management
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Cindy S. Everly (RFC®), CPA
(301) 582-0765
10709 Timothy Drive
Williamsport, MD
Company
Cindy S. Everly, CPA/Financial Planner
Qualifications
Education: BA
Years of Experience: 15
Membership
IARFC, AICPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Business Coach, Compensation Plans

Data Provided by:
Mr. Jeffrey A. Bowers, CFP®
(301) 791-7910
1380 Dual Hwy
Hagerstown, MD
Firm
Bowers Insurance
Areas of Specialization
Business Succession Planning, Estate Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

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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