Retirement Planning Montgomery 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.

Bryan Hancock
Timberchase Financial, LLC
(334) 578-0611
8650 Minnie Brown Rd., Suite 101A
Montgomery, AL
Expertises
Advising Medical Professionals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Tax Planning, Planning Issues for Business Owners, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MBA

Mr. Irby J. Thompson, CFP®
(334) 260-2432
3815 Interstate Court
Montgomery, AL
Firm
Warren Averett Asset Management, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Elder Care
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Michael L. Hardin, CFP®
(334) 274-4769
4121 Carmichael Rd Ste 501
Montgomery, AL
Firm
New York Life

Data Provided by:
Mr. Kevin N. Haynes, CFP®
4001 Carmichael Rd Ste 400
Montgomery, AL
Firm
UBS Financial Services Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Investment Management, Retirement Income Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided by:
Mr. David R. Petty, CFP®
(334) 213-4123
7460 Halcyon Pointe Dr Ste 301
Montgomery, AL
Firm
Morgan Keegan

Data Provided by:
Andrew Haskell, CFP®
(334) 409-5819
4001 Carmichael Rd Ste 500
Montgomery, AL
Firm
Merrill Lynch Bank & Trust Co., Fsb
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Government and Military, Insurance Planning, Investment Management, Retirement Planning

Data Provided by:
Mr. Anthony C Brown, CFP®
(334) 270-5960
2000 Interstate Park Drive
Montgomery, AL
Firm
Ronald Blue & Co., LLC
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Matthew B Murphy, CFP®
(334) 260-3879
4001 Carmichael Road
Montgomery, AL
Firm
UBS
Areas of Specialization
Comprehensive Financial Planning, Investment Management, Wealth Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Larry C. Ransburgh (RFC®), MBA
(334) 230-6347
3025 Brevard Ave
Montgomery, AL
Qualifications
Education: MBA - FinanceBS - Business EconomicsCertificate in Financial Planning - Kaplan UniversitySeries 6, 7, 66Life and Health Insurance
Years of Experience: 12
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Precious Metals, CD Banking, Life Insurance, Charitable Planning, Education Plan, Charitable Foundations, BuySell, Compensation Plans

Data Provided by:
Mr. William C. Hurley Iii, CFP®
(334) 277-4370
310 Eastdale Cir
Montgomery, AL
Firm
Legacy Advisors Inc

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....

Click here to read the rest of this article at Zacks.com