Retirement Planning Rochester NH

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.

Faye Doria
Financial Guidance Associates, Inc
(603) 742-8102
86 Locust St
Dover, NH
Expertises
Investment Advice without Ongoing Management, Hourly Financial Planning Services, Middle Income Client Needs, Retirement Planning & Distribution Rules, College/Education Planning, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, EA

William Simpson
Azimuth Financial Planning, LLC
(603) 373-8793
One New Hampshire Avenue, Suite 125
Portsmouth, NH
Expertises
Ongoing Investment Management, College/Education Planning, Hourly Financial Planning Services, Retirement Planning & Distribution Rules, High Net Worth Client Needs, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Mr. Glenn M. Lepene, CFP®
(603) 335-0206
PO Box 1498
Rochester, NH
Firm
GML Financial Advisory Services, LLC
Areas of Specialization
Comprehensive Financial Planning, Investment Management, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000



Data Provided by:
Ms. Lisa L. Dale, CFP®
(877) 656-5022
10 Jenkins Rd
Madbury, NH
Firm
Waddell & Reed Financial, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Insurance Planning, Intergenerational Planning, Investment Management, Life Planning

Data Provided by:
Mr. Eric V. Wasson, CFP®
(603) 343-4515
660 Central Ave
Dover, NH
Firm
LPL Financial
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Jill Boynton
Cornerstone Financial Planning, LLC
(603) 431-1133
70 Old Post Road
Newington, NH
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Divorce Planning, Hourly Financial Planning Services, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CDFA, CFP®

Mr. Richard K Hackett Ii, CFP®
(603) 332-6518
73 Wakefield Street
Rochester, NH
Firm
Creteau, Hackett, Lachapelle & Associates, LLC.
Areas of Specialization
Asset Allocation, Banking, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, Insurance Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Bonnie L. Staniewicz, CFP®
(603) 905-9701
12 Perkins Cir
Barrington, NH
Firm
Waddell & Reed

Data Provided by:
Mr. Alan Felenchak, CFP®
(603) 505-1576
827 Central Ave Ste 5
Dover, NH
Firm
Allstate Financial Services, LLC
Areas of Specialization
Insurance Planning, Retirement Planning

Data Provided by:
Ms. Valerie J. Morgan, CFP®
(603) 743-4849
42E Dover Point Road
Dover, NH
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Retirement Planning

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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