Retirement Planning New Haven CT

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.

Paul Pignone
Boston Retirement Advisors, LLC
(203) 453-2806
720 Goose Lane
Guilford, CT
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Hourly Financial Planning Services, High Net Worth Client Needs, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®, ChFc, CLU, CSA

Logan James Reed, CFP®
(203) 789-2340
157 Church St Fl 21
New Haven, CT
Firm
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Retirement Income Management, Risk Management, Small Business Planning, Wealth Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Christopher A. Cavallaro, CFP®
(203) 786-2110
545 Long Wharf Dr Fl 7
New Haven, CT
Firm
Morgan Stanley Wealth Management

Data Provided by:
Mrs. Carrie O'Neil, CFP®
(203) 789-2364
157 Church St Fl 21
New Haven, CT
Firm
Bank of America Corporation
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits

Data Provided by:
Mr. Robert P. Kreitler, CFP®
(203) 867-4396
195 Church St
New Haven, CT
Firm
Kreitler Financial LLC
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Jon Nieranowski, CFP®
(617) 429-6779
265 Church St
New Haven, CT
Firm
Fidelity
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, General Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Alexander D. Bijanada, CFP®
(203) 285-1831
545 Long Wharf Dr Ste 501
New Haven, CT
Firm
Ameriprise Financial
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Management, Retirement Planning, Tax Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Kirk L. Knudsen, CFP®
(203) 498-3315
265 Church Street
New Haven, CT
Firm
UBS Financial Services, Inc.
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Planning, Long-Term Care, Planning for Couples, Retirement Income Management
Key Considerations
Average Net Worth: $5,000,001 or more

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



Data Provided by:
Nicholas P Finkle, CFP®
(203) 752-4877
157 Church Street
New Haven, CT
Firm
U.S. Trust, Bank of America Private Wealth Management
Areas of Specialization
Estate Planning, Investment Management, Wealth Management
Key Considerations
Average Net Worth: $5,000,001 or more



Data Provided by:
Mr. Thomas Beirne Iii, CFP®
(203) 772-0740
234 Church St Fl 10
New Haven, CT
Firm
Halsey Associates, Inc.
Areas of Specialization
Asset Allocation, Charitable Giving, Estate Planning, Intergenerational Planning, Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

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