Retirement Planning Plattsburgh NY

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.

Scott Beaudin
Pathway Financial Advisors, LLC
(802) 660-7086
110 Main Street, Suite 401
Burlington, VT
Expertises
Hourly Financial Planning Services, High Net Worth Client Needs, Ongoing Investment Management, Planning Issues for Business Owners, Estate & Generational Planning Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, MBA

Mr. Alan Charles Dana, CFP®
(518) 523-3800
66 US Oval Apt 242
Plattsburgh, NY
Firm
Wells Fargo Advisors
Areas of Specialization
Comprehensive Financial Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Ms. Chrisanna T Elser, CFP®
(518) 683-8374
308 Cornelia St
Plattsburgh, NY
Firm
Glens Falls Investment Services

Data Provided by:
Ms. Beth A. Wilson, CFP®
(802) 862-7361
553 Roosevelt Hwy Ste 201
Colchester, VT
Firm
Poulos Advisors, Inc.

Data Provided by:
Mr. Benjamin A. Russell, CFP®
(802) 654-8800
905 Roosevelt Hwy
Colchester, VT
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Charitable Giving, Estate Planning, Insurance Planning, Investment Planning, Retirement Income Management, Retirement Planning, Tax Planning

Data Provided by:
Mr. Richard W. Brewer Jr., CFP®
(518) 562-8496
22 US Oval Ste 125
Plattsburgh, NY
Firm
SagePoint Financial, Inc.
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Jonathan L. Schneiderman, CFP®
(518) 563-7537
43 Durkee St
Plattsburgh, NY
Firm
Raymond James Financial Services, Inc.
Areas of Specialization
General Financial Planning

Data Provided by:
Ms. Heidi G. Clute, CFP®
(518) 561-5707
152 Tom Miller Rd
Plattsburgh, NY
Firm
Clute Wealth Management
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Insurance Planning

Data Provided by:
Mr. Edward Murphy, CFP®
(802) 654-7255
401 Watertower Cir Ste 302
Colchester, VT
Firm
A M Peisch & Company, LLP
Areas of Specialization
Tax Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Jared A Larrow, CFP®
(802) 865-2326
2 Church St Ste 4F
Burlington, VT
Firm
Ameriprise Financial Services
Areas of Specialization
Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care, Planning for Couples, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

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....

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