Retirement Planning Syracuse NY

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.

Anthony Farella
Rockbridge Investment Management, LLC
(315) 671-0588 X222
101 South Salina Street, Suite 400
Syracuse, NY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Peter L. Derrenbacker, CFP®
(315) 434-8800
PO Box 4718
Syracuse, NY
Firm
Northwestern Mutual Financial

Data Provided by:
Mr. Joseph M. Lazzaro Jr., CFP®
(315) 425-6362
120 Madison St STE 1900
Syracuse, NY
Firm
AXA Advisors, LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, General Financial Planning

Data Provided by:
Mr. Jeffrey J. Jock, CFP®
(315) 426-5678
523 Erie Blvd. W.
Syracuse, NY
Firm
Empower Associated Services, Inc.
Areas of Specialization
General Financial Planning

Data Provided by:
Mr. David G. Walker, CFP®
(315) 425-6373
120 Madison Street
Syracuse, NY
Firm
AXA Advisors
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Elder Care

Data Provided by:
Mr. John J. Kenney, CFP®
(315) 671-1831
PO Box 4718
Syracuse, NY
Firm
Northwestern Mutual
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Gregory A. Ronneburger, CFP®
(315) 425-6334
120 Madison St Ste 1900
Syracuse, NY
Firm
AXA Advisors LLC

Data Provided by:
Mr. Brent T Schleicher, CFP®
(315) 425-6337
120 Madison St Ste 1900
Syracuse, NY
Firm
AXA Advisors
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Joel T. Redmond, CFP®
(315) 425-8602
221 S Warren St
Syracuse, NY
Firm
Key Private Bank
Areas of Specialization
General Financial Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning, Securities, Social Security Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Service Professionals

Data Provided by:
Mr. Richard J. Urciuoli, CFP®
(315) 425-0344
344 W Genesee St Ste 300
Syracuse, NY
Firm
Summit Planning Group Inc
Areas of Specialization
Comprehensive Financial Planning, Employee and Employer Plan Benefits, Investment Management, Retirement Income Management, Retirement Planning, Wealth Management

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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