Retirement Planning Myrtle Beach SC

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.

Joe Taylor
Oak Street Advisors
(843) 946-9868
1335 44th Avenue N, Suite 203
Myrtle Beach, SC
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor

Mr. Lee Allen Thomas, CFP®
(843) 448-4142
405 6th Ave N
Myrtle Beach, SC
Firm
DELORES BOWEN PUBLIC ACCOUNTANT

Data Provided by:
Mr. J. Troy Devers, CFP®
(843) 839-8970
3751 Robert Grissom Pkwy Ste 201
Myrtle Beach, SC
Firm
BNC Financial Services
Areas of Specialization
Retirement Income Management, Retirement Planning, Social Security Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Frank Harrington Mcknight, CFP®
(843) 449-0580
5621 Pinckney Ave
Myrtle Beach, SC
Firm
F. Harry McKnight, CFP
Areas of Specialization
Asset Allocation, Banking, Comprehensive Financial Planning, Debt Management, Divorce Issues, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Christopher David St. John, CFP®
(843) 448-4425
1110 London Street Suite 204
Myrtle Beach, SC
Firm
Carolina Wealth Advisors, Inc.
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Divorce Issues, Education Planning

Data Provided by:
Mr. Anthony B. King, CFP®
(843) 497-6116
1131 48th Ave N
Myrtle Beach, SC
Firm
King & Godbold, LLC

Data Provided by:
Mr. John L. Cote (RFC®), CEP, CSA, MBA
(843) 467-2881
1200 48th Ave N Unit 102
Myrtle Beach, SC
Company
FinancialNsights, Inc.
Qualifications
Education: B.S. Accounting - Clemson University 1975M.B.A. Duke University - 1988
Years of Experience: 12
Membership
IARFC, MDRT, FPA, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
April Gloyd Messimer, CFP®
(843) 946-2027
2024 Corporate Centre Dr Ste 301
Myrtle Beach, SC
Firm
Merrill Lynch Capital Services Inc
Areas of Specialization
Asset Allocation, Banking, Budget Development, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Brian J. Cunningham, CFP®
(843) 448-4422
3751 Robert Grissom Pkwy Ste 103
Myrtle Beach, SC
Firm
Raymond James & Associates
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. David G Wurster, CFP®
(843) 712-2752
1200 48th Ave N Unit 102
Myrtle Beach, SC
Firm
Palmetto Coast Capital, LLC
Areas of Specialization
Comprehensive Financial Planning, Insurance Planning, Investment Management, Wealth Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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



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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