Retirement Planning Mcallen TX

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.

Ruth Evans
Evans Financial Planning Inc.
(956) 519-8524
620 East Sandyhills Ave.
McAllen, TX
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Advising Medical Professionals, High Net Worth Client Needs, Hourly Financial Planning Services, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Mr. Arthur J. Hughes, CFP®
(956) 687-7902
701 E Esperanza Ave
McAllen, TX
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Ms. Ruth Ann Evans, CFP®
(956) 519-8524
620 East Sandyhills Ave.
McAllen, TX
Firm
Evans Financial Planning, Inc.
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Medical/Dental Professionals

Data Provided by:
Ms. Katrina F. Dennis, CFP®
(956) 668-0701
5407 N McColl Rd
McAllen, TX
Firm
Ameriprise Financial Advisors,
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Elder Care, Estate Planning, Investment Management, Long-Term Care, Women's Finances
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. William F. Martin, CFP®
(956) 683-9158
7000 N 10th St # C2
McAllen, TX
Firm
Morgan Stanley Wealth Management

Data Provided by:
Mr. David D. Barnes, CFP®
(956) 687-7902
701 E Esperanza Ave
McAllen, TX
Firm
Ameriprise Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided by:
Mr. James S. Garcia, CFP®
(956) 682-4744
1712 Hibiscus
McAllen, TX
Firm
James Garcia Financial
Areas of Specialization
Asset Allocation, General Financial Planning, Insurance Planning, Investment Management, Retirement Income Management, Risk Management, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. Jose L. Martinez (RFC®), CSA
(956) 494-7636
1227 South Bluebonnet St
Pharr, TX
Company
Money Concepts
Qualifications
Education: MA
Years of Experience: 21
Membership
IARFC, SCSA
Services
Invoice, Retirement Planning, Seminars Work, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Walter James Reyna, CFP®
(956) 682-4196
5315 N. McColl
McAllen, TX
Firm
Walter J Reyna Inc
Areas of Specialization
Securities
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Mr. Patrick John Lyons, CFP®
(806) 786-6932
2109 Jefferson Ave
McAllen, TX
Firm
Peak Valuation & Financial Planning, LLC
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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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