Retirement Planning Scottsdale AZ

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.

David Fernandez
Wealth Engineering, LLC
(480) 296-2042
7337 E. Doubletree Ranch Rd., Suite 282
Scottsdale, AZ
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, High Net Worth Client Needs, College/Education Planning, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Lisa Woodside
Focused Wealth Strategies, Inc.
(480) 214-9719
9375 East Shea Blvd., Suite 100
Scottsdale, AZ
Expertises
Ongoing Investment Management, Investment Advice without Ongoing Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Tax Planning, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MST

Connie Brezik
Asset Strategies, Inc.
(480) 607-7445
8570 East Shea Blvd., Suite 140
Scottsdale, AZ
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, PFS

James Schwartz
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ
Expertises
Women's Financial Planning Issues, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Ongoing Investment Management, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®

John Stephens
TCI Wealth Advisors, Inc.
(480) 991-0401
7550 E. McDonald Drive, Suite D
Scottsdale, AZ
Expertises
Advising Medical Professionals, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, High Net Worth Client Needs, Ongoing Investment Management, Advising Entrepreneurs
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA, MD

Randy Oldenburg
Camden Financial Management, Inc.
(480) 998-7786
7337 E DOUBLETREE RANCH RD SUITE 282
Scottsdale, AZ
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Charitable Giving - Trusts & Foundations, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, BA, BS, CFP®

John Bagley
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ
Expertises
Ongoing Investment Management, Advising Medical Professionals, Retirement Planning & Distribution Rules, Cash Flow/Budgets/Credit Issues, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA

Dana Anspach
Sensible Money, LLC
(888) MY-RETIRE
8550 E Shea Blvd Suite130
Scottsdale, AZ
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Investment Advice without Ongoing Management, Tax Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®

David Rosenthal
Wealth Management Solutions
(480) 609-4334
8550 E Shea Blvd, Suite 130
Scottsdale, AZ
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Tax Planning, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Philip Stoker
Stoker Ostler Wealth Advisors
(480) 890-8088
4900 N. Scottsdale Road, Suite 2600
Scottsdale, AZ
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

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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