Retirement Planning Pasadena TX

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.

Christine Walker
MWA Advisors, Inc.
(281) 488-2577
2437 Bay Area Blvd., #105
Houston, TX
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Planning Concerns for Corporate Executives, Women's Financial Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

Jeff Eschman
Posey Capital Management Inc.
(713) 490-7000
2415 Sunset Boulevard
Houston, TX
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, High Net Worth Client Needs, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®

Thomas Posey
Posey Capital Management Inc.
(713) 490-7000
2415 Sunset Boulevard
Houston, TX
Expertises
High Net Worth Client Needs, Ongoing Investment Management, Estate & Generational Planning Issues, Planning Concerns for Corporate Executives, Planning Issues for Business Owners, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AAMS, CFP®, JD

M. Carleton McHenry
McHenry Capital, LLC
(888) 968-9815
4265 San Felipe, Suite 1100
Houston, TX
Expertises
Helping Clients Identify & Achieve Goals, Financial Issues Between Generations, Retirement Planning & Distribution Rules, Ongoing Investment Management, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Marc Schindler
Pivot Point Advisors, LLC
(713) 715-7000
5959 West Loop South, Suite 333
Bellaire, TX
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, College/Education Planning, Advising Medical Professionals, High Net Worth Client Needs, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Daniel Martucci
MWA Advisors, Inc.
(281) 488-2577
2437 Bay Area Blvd., #105
Houston, TX
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives, Women's Financial Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA

James Hoffman
PartnersInWealth, Inc.
(713) 964-4028
3400 Bissonnet Street, Suite 145
Houston, TX
Expertises
Helping Clients Identify & Achieve Goals, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, Retirement Planning & Distribution Rules, Tax Planning, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BBA, CFP®, JD, MBA

James Waters
PartnersInWealth, Inc.
(713) 964-4028
3400 Bissonnet Street, Suite 145
Houston, TX
Expertises
Helping Clients Identify & Achieve Goals, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, Retirement Planning & Distribution Rules, Tax Planning, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CFS, MBA

Matthew Goff
Matthew Goff Investment Advisor, LLC
(713) 850-8900
4400 Post Oak Parkway, Suite 2150
Houston, TX
Expertises
Planning Concerns for Corporate Executives, Planning Issues for Business Owners, Retirement Plan Investment Advice, Charitable Giving - Trusts & Foundations, High Net Worth Client Needs, Divorce Planning
Certifications
NAPFA Registered Financial Advisor

Robert Rexford
Rexford Capital Wealth Management
(713) 838-8383
5420 Braeburn Drive
Bellaire, TX
Expertises
Ongoing Investment Management, Financial Issues Between Generations, Women's Financial Planning Issues, Estate & Generational Planning Issues, High Net Worth Client Needs, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®

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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