Retirement Planning Pittsburgh PA

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.

Steve Templeton
Templeton Financial Planning
(724) 695-1087
651 Holiday Drive, Suite 300
Pittsburgh, PA
Expertises
Tax Planning, Advising Medical Professionals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, College/Education Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Louis Stanasolovich
Legend Financial Advisors, Inc.
(412) 635-9210
5700 Corporate Drive, Suite 350
Pittsburgh, PA
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Advising Entrepreneurs, Advising Medical Professionals, Alternative or Private Investments, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor

Edward B. Aufman
Aufman Associates Inc.
(724) 934-5600
2200 Georgetown Drive, Suite 401
Sewickley, PA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Robert Choiniere
Plans to Prosper, LLC
(724) 935-5553
109 Gateway Avenue, Suite 201
Wexford, PA
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Advising Medical Professionals, College/Education Planning, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Mr. Todd S. Rosenfeld, CFP®
(412) 288-2377
600 Grant St
Pittsburgh, PA
Firm
Northwestern Mutual Financial Network

Data Provided by:
Diane Pearson
Legend Financial Advisors, Inc.
(412) 635-9210
5700 Corporate Drive, Suite 350
Pittsburgh, PA
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, College/Education Planning, Women's Financial Planning Issues, Estate & Generational Planning Issues, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®

Steve Templeton
Templeton Financial Planning
(724) 695-1087
850 Beaver Grade Road
Moon Township, PA
Expertises
Tax Planning, Advising Medical Professionals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, College/Education Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Edward J. Aufman
Aufman Associates Inc.
(724) 934-5600
2200 Georgetown Drive, Suite 401
Sewickley, PA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, RFP

Steve Templeton
Templeton Financial Planning
(724) 695-1087
8 Four Coins Drive
Canonsburg, PA
Expertises
Tax Planning, Advising Medical Professionals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, College/Education Planning, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

Mr. James V. Lowden, CFP®
(412) 562-6706
500 Grant St Ste 46
Pittsburgh, PA
Firm
UBS Financial Services Inc

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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