Retirement Planning Victoria 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.

Thomas L. Keller, CFP®
(361) 573-4383
PO Box 2549
Victoria, TX
Firm
KMH Wealth Management, LLC/Keller & Associates, CPAs
Areas of Specialization
Accounting, Asset Allocation, Budget Development, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance 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:
Mr. David Scott Sather, CFP®
(361) 570-1800
120 E Constitution St
Victoria, TX
Firm
Sather Financial Group
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
Mr. Robert E. Mabe (RFC®), LUTCF, RFP
(361) 570-0611
4408 lilac Suite B
Victoria, TX
Company
Mabe Financial Group
Qualifications
Education: University of Houston 87'-91' Major-Finance, Minor-Accounting
Years of Experience: 20
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CommOptions, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. G. Charles Wartsbaugh Jr., CFP®
(361) 578-2496
1 Oconnor Plz Ste 940
Victoria, TX
Firm
Edward D Jones & Company

Data Provided by:
Wells Fargo - Victoria North
(361) 582-2755
7107 N Navarro St
Victoria, TX
Type
Branch
Office Hours
Mon-Fri 07:30 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Mr. Jesse David Bayarena, CFP®
(361) 575-0271
1501 E. Mockingbird
Victoria, TX
Firm
1st Global

Data Provided by:
Mr. Warren A. Udd, CFP®
(361) 570-1800
120 E Constitution St
Victoria, TX
Firm
Sather Financial Group Inc

Data Provided by:
Mr. Gregory James Hermes, CFP®
(361) 573-4383
101 S Main St Ste 300
Victoria, TX
Firm
Keller & Associates CPAs

Data Provided by:
Bank of America - Victoria
(361) 575-4574
5606 N.Navarro St
Victoria, 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 9-3
Tuesday 9-3
Wednesday 9-3
Thursday 9-3
Friday 9-5
Saturday Closed
Sunday Closed
Drive Up Hours
Monday 7:30-6
Tuesday 7:30-6
Wednesday 7:30-6
Thursday 7:30-6
Friday 7:30-6:30
Saturday Closed
Sunday Closed

Wells Fargo - Victoria Sam Houston
(361) 574-5892
1501 E Mockingbird Ln
Victoria, TX
Type
Branch
Office Hours
Mon-Fri 07:30 AM-07:00 PM
Sat 09:00 AM-01:00 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....

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