Retirement Planning Santa Barbara 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.

James Ludwick
MainStreet Financial Planning, Inc.
(805) 277-4782
600 Chapala St., Suite B
Santa Barbara, CA
Expertises
Cash Flow/Budgets/Credit Issues, Middle Income Client Needs, Real Estate Investments, Retirement Planning & Distribution Rules, Planning Issues for Unmarried & Same-Sex Couples
Certifications
NAPFA Registered Financial Advisor, CFP®

Ms. Patricia Ann Fahnoe, CFP®
(888) 642-7221
1123 Chapala St Fl 2
Santa Barbara, CA
Firm
Mission Wealth Management, LLC
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Investment Management, Life Transitions, Planning for Couples, Retirement Income Management, Small Business Planning

Data Provided by:
Mr. Gregory Peter Hogan, CFP®
(805) 564-7939
1014 Santa Barbara St
Santa Barbara, CA
Firm
Morgan Stanley Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. David M. Daniel, CFP®
(805) 569-6854
3757 State St
Santa Barbara, CA
Firm
David M Daniel

Data Provided by:
Mrs. Donna Ibarra, CFP®
(805) 963-6308
1424 State Street
Santa Barbara, CA
Firm
Merrill Lynch Bank & Trust Co., Fsb

Data Provided by:
Kipley Lytel
Montecito Capital Management
(805) 965-7955
225 E. Carrillo, Suite 203
Santa Barbara, CA
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, BA, CFA, MBA

Mr. Zachary E Siegel, CFP®
(888) 844-0323
3463 State St Ste 259
Santa Barbara, CA
Firm
American Business & Professional Program, Inc.

Data Provided by:
Mr. Joseph R. Weiland, CFP®
(805) 699-7300
100 E De La Guerra St
Santa Barbara, CA
Firm
Arlington Financial Advisors
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Miss Amanda Louise Thomas, CFP®
(805) 690-3873
1123 Chapala St Ste 200
Santa Barbara, CA
Firm
Mission Wealth Management
Areas of Specialization
Banking, Comprehensive Financial Planning, Divorce Issues, Intergenerational Planning, Mortgages, Wealth Management, Women's Finances
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. Sydney Walker, CFP®
(805) 966-5084
3700 State St Ste 240
Santa Barbara, CA
Firm
WEDBUSH SECURITIES
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: 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....

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