Retirement Planning San Angelo TX

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. Lisa K. Eady, CFP®
(915) 653-5102
PO Box 61938
San Angelo, TX
Firm
Investment Centers of America
Areas of Specialization
Banking, Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning, Investment Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mark A Woods, CFP®
(325) 340-9929
201 S. Chadbourne St.
San Angelo, TX
Firm
Trimble Batjer Financial Solut
Areas of Specialization
Insurance Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Martin James Farris, CFP®
(325) 651-2100
4745 Rockwood Drive
San Angelo, TX
Firm
Asset Management & Financial P

Data Provided by:
Bank of America - Twohig
(325) 653-2265
337 W Twohig
San Angelo, TX
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits, Drive Up
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-6
Saturday 9-12
Sunday Closed
Drive Up Hours
Monday 7:30-5:30
Tuesday 7:30-5:30
Wednesday 7:30-5:30
Thursday 7:30-5:30
Friday 7:30-6
Saturday 9-12
Sunday Closed

Wells Fargo - San Angelo North
(325) 486-5280
1900 N Bryant Blvd
San Angelo, TX
Type
Branch
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 08:30 AM-01:00 PM
Sun Closed

Dr. Roger Don Sidener, CFP®
(325) 655-9060
16 E Beauregard Ave
San Angelo, TX
Firm
Sidener Estes Bowden & Co Inc
Key Considerations
Average Net Worth: $100,001 - $250,000

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

Profession: Not Applicable

Data Provided by:
Mr. John S Cecil, CFP®
(325) 653-5104
502 S Koenigheim St
San Angelo, TX
Firm
Cecil & Eady Investments
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Robert Gregory Allcorn, CFP®
(325) 224-3333
2113 Knickerbocker Rd
San Angelo, TX
Firm
Wells Fargo Advisors
Areas of Specialization
Asset Allocation, Divorce Issues, Education Planning, Investment Management, Investment Planning, Life Planning, Life Transitions
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Wells Fargo - San Angelo Main
(325) 657-8600
36 W Beauregard Ave
San Angelo, TX
Type
Branch
Office Hours
Mon-Fri 09:00 AM-05:00 PM
Sat-Sun Closed

Wells Fargo - San Angelo Main Mb
(325) 486-5263
508 W Beauregard Ave
San Angelo, TX
Type
Motor Bank
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 08:30 AM-12:00 PM
Sun Closed

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....

Click here to read the rest of this article at Zacks.com