Retirement Planning Reading 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.

Ms. Pamela F. Groft, CFP®
(610) 478-7475
621 Franklin St
West Reading, PA
Firm
Groft Financial Services
Areas of Specialization
General Financial Planning, Retirement Planning, Women's Finances

Data Provided by:
Mr. Vincent J Hill Sr., CFP®
(215) 497-3302
1393 Knox Dr
Yardley, PA
Firm
Wells Fargo Advisors

Data Provided by:
Mr. David L. Reppert, CFP®
(610) 376-1700
1250 Broadcasting Rd
Wyomissing, PA
Firm
Wells Fargo Advisors

Data Provided by:
Ms. Chiara Renninger, CFP®
(610) 376-8271
2763 Century Blvd.
Wyomissing, PA
Firm
Herbein Wealth Management

Data Provided by:
Mr. Randall S. Cole, CFP®
(856) 296-0343
3013A Kutztown Rd
Reading, PA
Firm
American Portfolios

Data Provided by:
Dwight A Lydic, CFP®
(610) 223-6732
837 Acacia Avenue
Reading, PA
Firm
Princor Financial Services Corporation
Areas of Specialization
Asset Allocation, Estate Planning, General Financial Planning, Investment Management, Investment Planning, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Ms. Merra Lee Moffitt, CFP®
(610) 488-7353
711 Spring St
Wyomissing, PA
Firm
Lpl Financial Corporation
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Michael Joseph Janvrin, CFP®
(610) 478-4518
1350 Broadcasting Rd Ste 100
Wyomissing, PA
Firm
Morgan Stanley Smith Barney
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Insurance Planning, Intergenerational Planning, Investment Management

Data Provided by:
Ms. Laurie M. Peer, CFP®
(610) 898-8117
1330 Broadcasting Rd
Wyomissing, PA
Firm
Reinsel Kuntz Lesher
Areas of Specialization
Asset Allocation, Budget Development, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mr. Scott A. Worley, CFP®
(610) 376-8271
2763 Century Boulevard
Wyomissing, PA
Firm
Herbein Wealth Management, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Charitable Giving, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

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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