Retirement Planning Orlando FL

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.

Daniel Brownsberger
FirsTrust, LLC
(407) 859-4334
301 East Pine Street, Suite 150
Orlando, FL
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CIMA

Christopher Cannon
FirsTrust, LLC
(407) 859-4334
301 East Pine Street, Suite 150
Orlando, FL
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFA

David Nestrick
FirsTrust, LLC
(407) 859-4334
301 East Pine Street, Suite 150
Orlando, FL
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Socially Responsible Investments, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Daniel Moisand
Moisand Fitzgerald Tamayo, LLC
(407) 869-6228
601 S. Lake Destiny Rd., Suite 165
Maitland, FL
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®

Brian Fricke
Financial Management Concepts
(407) 647-7006
1700 Town Plaza Court
Winter Springs, FL
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Planning Concerns for Corporate Executives, Planning Issues for Business Owners, High Net Worth Client Needs, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Elayne Pisarik
FirsTrust, LLC
(407) 859-4334
301 East Pine Street, Suite 150
Orlando, FL
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, CLU

Michael Koenig
FirsTrust, LLC
(407) 859-4334
301 East Pine Street, Suite 150
Orlando, FL
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Estate & Generational Planning Issues, Financial Issues Between Generations
Certifications
NAPFA Registered Financial Advisor, CFP®

Susan Spraker
Spraker Wealth Management, Inc.
(407) 478-7899
543 N. Wymore Road, Suite 104
Maitland, FL
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, MS, PhD

Stephen Overstreet
Financial Planning Offices of Stephen Overstreet, P.A.
(407) 359-4205
665 Cayuga Drive
Winter Springs, FL
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Roman Franklin
Franklin Financial Planning, Inc.
(407) 562-1926
801 International Parkway, Suite 500
Lake Mary, FL
Expertises
Ongoing Investment Management, Women's Financial Planning Issues, Retirement Planning & Distribution Rules, Real Estate Investments, Retirement Plan Investment Advice, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, RFC

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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