Retirement Planning Mesquite 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.

Christopher Currin
Pegasus Advisors, LLC
(877) 799-4647
6060 N Central Expwy Ste 560
Dallas, TX
Expertises
Retirement Planning & Distribution Rules, Tax Planning, Investment Advice without Ongoing Management, Insurance Related Issues, including Annuities, Special Needs Planning, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Jeremy Hudson
Howard Financial Services, Ltd.
(214) 346-0785
8350 Meadow Road, Suite 181
Dallas, TX
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Estate & Generational Planning Issues, Cash Flow/Budgets/Credit Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Michelle Goldstein
Goldstein Financial Future
(214) 695-9251
#6 Brigade Ct.
Dallas, TX
Expertises
Cash Flow/Budgets/Credit Issues, Divorce Planning, Hourly Financial Planning Services, Newlyweds & Novice Investors, Retirement Planning & Distribution Rules, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, MBA

Dana Pingenot
Lee Financial Corporation
(972) 960-1001
12222 Merit Drive, Suite 1500
Dallas, TX
Expertises
Planning Issues for Business Owners, Charitable Giving - Trusts & Foundations, Helping Clients Identify & Achieve Goals, Alternative or Private Investments
Certifications
NAPFA Registered Financial Advisor, CFP®, CLU

Christopher Currin
Pegasus Advisors, LLC
(877) 799-4647
555 Republic Dr Ste 200
Plano, TX
Expertises
Retirement Planning & Distribution Rules, Tax Planning, Investment Advice without Ongoing Management, Insurance Related Issues, including Annuities, Special Needs Planning, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Theresa Stuteville
Howard Financial Services, Ltd.
(214) 346-0785
8350 Meadow Road, Suite 181
Dallas, TX
Expertises
Planning Concerns for Corporate Executives, College/Education Planning, Advising Entrepreneurs, Estate & Generational Planning Issues, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

Emerson Bell
Fee-Only Financial Planning
(214) 871-7600
2305 Cedar Springs Road, Suite 130
Dallas, TX
Expertises
Ongoing Investment Management, Advising Employee Benefit Plan Participants, Middle Income Client Needs, Advising Medical Professionals, High Net Worth Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MA

Richard Lee
Lee Financial Corporation
(972) 960-1001
12222 Merit Drive, Suite 1500
Dallas, TX
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Alternative or Private Investments
Certifications
NAPFA Registered Financial Advisor, BBA, CFA, CFP®, MBA

Roger Asel
Certified Financial Strategies
(972) 702-8121
5485 BeltLine Rd. #100
Dallas, TX
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Mr. Gerald E. Bunger, CFP®
(972) 948-3583
3048 Cypress Way
Sunnyvale, TX
Firm
Gerald E Bunger & Associates

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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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