Retirement Planning Pensacola 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.

Edward Rose
Bayside Wealth Management, LLC
(850) 437-0210
3 West Garden Street, Suite 710
Pensacola, FL
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Advising Employee Benefit Plan Participants, Advising Entrepreneurs, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Mr. Richard H. Turner Jr., CFP®
(850) 432-1411
501 Commendencia St Ste 2
Pensacola, FL
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Estate Planning, Intergenerational Planning, Investment Management, Retirement Income Management, Retirement Planning, Sudden Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Legal Professionals

Data Provided by:
Mr. David H. Brooks, CFP®
(850) 456-9237
720 Bayfront Pkwy Ste 100
Pensacola, FL
Firm
David H. Brooks
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Government and Military, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Government Employees

Data Provided by:
Mr. Douglas Falkinburg, CFP®
(850) 294-0238
815 south palafox rd.
pensacola, FL
Firm
Hancock Bank

Data Provided by:
Ms. Celeste H Whisenant, CFP®
(850) 435-0524
1025 C West Moreno Street
Pensacola, FL
Firm
MetLife Resources

Data Provided by:
Phillip Walker
Bayside Wealth Management, LLC
(850) 437-0210
3 West Garden Street, Suite 710
Pensacola, FL
Expertises
Advising Medical Professionals, Estate & Generational Planning Issues, Financial Issues Between Generations, High Net Worth Client Needs, Planning Issues for Business Owners, Tax Planning
Certifications
NAPFA Registered Financial Advisor, JD, MBA

Mr. James R. Leslie, CFP®
(850) 479-9579
17 W Government St Ste 17B
Pensacola, FL
Firm
Valic

Data Provided by:
Mr. Phillip B. Walker, CFP®
(850) 437-0210
3 W Garden St
Pensacola, FL
Firm
Walker Wealth Advisors, LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Estate Planning, Intergenerational Planning, Life Transitions, Retirement Planning, Wealth Management
Key Considerations
Profession: Government Employees

Data Provided by:
Mr. Jeffrey P Helms, CFP®
(850) 444-7272
316 S. Baylen Street Suite 300
Pensacola, FL
Firm
Warren Averett Asset Management

Data Provided by:
Mr. Thomas J. Henriques Sr., CFP®
(850) 435-3797
730 Bayfront Pkwy Ste 3A
Pensacola, FL
Firm
AXA Advisors, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

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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