Retirement Planning Nashville TN

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.

Troy Von Haefen
Von Haefen Financial Management
(615) 353-9646
710 Davidson Road
Nashville, TN
Expertises
Tax Planning, Advising Entrepreneurs, Professional Athletes or Entertainers, Middle Income Client Needs, Advising Employee Benefit Plan Participants, Cash Flow/Budgets/Credit Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Robert Bolen
Bolen|Dodson & Associates
(615) 242-3808
7003 Chadwick Drive
Brentwood, TN
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Retirement Plan Investment Advice, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®

J. Mark Nickell
J. Mark Nickell & Co.
(615) 371-6622
104 East Park Drive, Suite 310
Brentwood, TN
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, High Net Worth Client Needs, Advising Medical Professionals, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFA, CPA/PFS

Donald Claussen
Financial Pathfinders, LLC
(615) 824-2322
101 West Ridge Road
Hendersonville, TN
Expertises
Newlyweds & Novice Investors, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Sam Fawaz
Y.D. Financial Services, Inc.
(615) 395-2010
2550 Meridian Boulevard, Suite 200
Franklin, TN
Expertises
Tax Planning, Divorce Planning, Planning Issues for Business Owners, College/Education Planning, Ongoing Investment Management, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®, CPA, MST

Sam Fawaz
Y.D. Financial Services, Inc.
(615) 395-2010
9005 Overlook Boulevard
Brentwood, TN
Expertises
Tax Planning, Divorce Planning, Planning Issues for Business Owners, College/Education Planning, Ongoing Investment Management, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®, CPA, MST

Melissa Hammel
Hammel Financial Advisory Group, LLC
(615) 371-5222
5123 Virginia Way, Suite B-13
Brentwood, TN
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Financial Psychology/Coaching, Advising Medical Professionals, Women's Financial Planning Issues, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®

Gary Bell
Ronald Blue & Co., LLC
(615) 373-2800
210 Westwood Place, Suite 110
Brentwood, TN
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MAcc

Andy Claybrook
Fee-Only Financial Solutions, P.C.
(615) 595-1487
P.O. Box 680458
Franklin, TN
Expertises
Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, College/Education Planning, Advising Employee Benefit Plan Participants, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CMFC, CPA/PFS

Philip Watson
Philip M. Watson Financial Advisors
(615) 599-6996
367 Riverside Drive, Suite 104
Franklin, TN
Expertises
Tax Planning, Cash Flow/Budgets/Credit Issues, Estate & Generational Planning Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, MS

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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