Retirement Planning New Bedford MA

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.

Lynne Nahigyan
Seamark Financial Services, Inc.
(508) 758-6159
109 Fairhaven Road, Suite F
Mattapoisett, MA
Expertises
Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Paul Nikalai Georgadarellis, CFP®
(508) 993-8549
32 William St
New Bedford, MA
Firm
Ameriprise Financial Services,
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Mr. Christopher M. Hodgson Sr., CFP®
(508) 990-1583
77 State Rd
Dartmouth, MA
Firm
Coastal Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning

Data Provided by:
Mr. Paul B. Guillet, CFP®
(508) 763-0853
1523 Main St.
Acushnet, MA
Firm
Paul B. Guillet, CPA
Areas of Specialization
Estate Planning, Investment Planning, Retirement Planning, Tax Planning

Data Provided by:
Jennifer Shepley, CFP®
(508) 322-3210
55 County Rd
Mattapoisett, MA
Firm
Guardian
Areas of Specialization
Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Insurance Planning, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
David McPherson
Four Ponds Financial Planning, LLC
(508) 403-0060
101 Town Hall Square
Falmouth, MA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Middle Income Client Needs, Hourly Financial Planning Services, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Steven D. Martin, CFP®
(508) 993-1942
651 Orchard Street
New Bedford, MA
Firm
SII Investments
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Michael J. Dicarlo Jr., CFP®
(508) 717-3245
670 State Road
North Dartmouth, MA
Firm
Ameriprise Financial Services,

Data Provided by:
Mr. R. William Blasdale, CFP®
(508) 758-6159
PO Box 1498
Mattapoisett, MA
Firm
Seamark Financial Services
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, General Financial Planning, Investment Management, Investment Planning

Data Provided by:
Ms. Sandra Reynolds, CFP®
(508) 636-6521
1125 State Rd
Westport, MA
Firm
Financial Planning Alternative

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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