Retirement Planning San Jose CA

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.

Bruce Barton
Parkworth Wealth Management, Inc.
(408) 436-9800
1737 N. First Street, Suite 290
San Jose, CA
Expertises
Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Ongoing Investment Management, Estate & Generational Planning Issues, Tax Planning, Professional Athletes or Entertainers
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA

Michael Chamberlain
Chamberlain Financial Planning LLC
(800) 347-1340
900 E. Hamilton Ave. Suite 100
Campbell, CA
Expertises
Hourly Financial Planning Services, Ongoing Investment Management, Middle Income Client Needs, Insurance Related Issues, including Annuities, Newlyweds & Novice Investors, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®

Austin Chinn
Fountain Strategies, LLC
(408) 516-4682
3168 Kawalker Lane
San Jose, CA
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Middle Income Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Special Needs Planning
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Jenna Hung
LifeStream Financial, Inc.
(408) 657-6880
5201 Great America Parkway, Suite 320
Santa Clara, CA
Expertises
Ongoing Investment Management, Tax Planning, Real Estate Investments, Cash Flow/Budgets/Credit Issues, Newlyweds & Novice Investors, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, AIF, CFP®, CMA, CPA, CPA/PFS, MBA

Janet Wan
Sierra Pacific Financial Advisors
(510) 438-6878
19925 Stevens Creeks Blvd.
Cupertino, CA
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Retirement Planning & Distribution Rules, High Net Worth Client Needs, Women's Financial Planning Issues, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Ted George
George Financial Advisors
(831) 438-6000
1999 South Bascom
Campbell, CA
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Cash Flow/Budgets/Credit Issues
Certifications
NAPFA Registered Financial Advisor, MSFP

Rodney Wade
Wade Financial Advisory, Inc.
(408) 369-7399
2105 South Bascom Avenue, Suite 110
Campbell, CA
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Financial Issues Between Generations, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CEA, CFP®, EA, MST

Randall May
Randy May Financial Planning
(408) 879-2363
1999 S. Bascom Avenue, Suite 700
Campbell, CA
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, Retirement Plan Investment Advice, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA, PhD

Joseph Alfonso
Aegis Financial Advisory
(408) 689-8211
3333 Bowers Avenue, Suite 130
Santa Clara, CA
Expertises
Helping Clients Identify & Achieve Goals, Tax Planning, Ongoing Investment Management, Advising Employee Benefit Plan Participants, Estate & Generational Planning Issues, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, ChFc, EA

Fern Alix LaRocca
Advanced Financial Designs
(415) 819-3065
P. O. Box 4067
Mountain View, CA
Expertises
Women's Financial Planning Issues, Advising Entrepreneurs, Investment Advice without Ongoing Management, Hourly Financial Planning Services, Middle Income Client Needs, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFP®, EA

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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