Retirement Planning Waterbury CT

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.

Barry Katz
Caratel Financial Services, Inc.
(860) 567-2567
North Street
Litchfield, CT
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Real Estate Investments, Retirement Planning & Distribution Rules, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Alan Rothstein
Asset Strategies, Inc.
(860) 673-5500
80 W Avon Road
Avon, CT
Expertises
Planning Issues for Business Owners, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CPA/PFS, MS

Clifford Straub
Lifestyle Financial Strategies, LLC
(860) 344-8356
100 Riverview Center, Suite 316
Middletown, CT
Expertises
High Net Worth Client Needs, Tax Planning, Ongoing Investment Management, Planning Concerns for Corporate Executives, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MBA

Ms. Debra Steinmetz, CFP®
(203) 755-2222
199 Park Road Ext Ste 100
Middlebury, CT
Firm
Ameriprise Financial Services,
Areas of Specialization
Comprehensive Financial Planning, Insurance Planning, Investment Planning, Long-Term Care, Retirement Income Management, Retirement Planning, Wealth Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Raymond W. Powell, CFP®
(203) 758-5700
42 Waterbury Rd
Prospect, CT
Firm
RW Powell Enterprises

Data Provided by:
Lawrence Annello
DHAS Financial Planning, LLC
(860) 255-0103
6 Executive Drive, Suite 111
Farmington, CT
Expertises
Tax Planning, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Middle Income Client Needs, Planning Issues for Business Owners, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Kathryn Norris
Asset Strategies, Inc.
(860) 673-5500
80 W Avon Road
Avon, CT
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CFP®, MA

Mr. Michael C. Riley, CFP®
(203) 758-2456
530 Middlebury Road
Middlebury, CT
Firm
Ameriprise Financial
Areas of Specialization
Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Ms. Deborah A. Tata, CFP®
(203) 758-2456
530 Middlebury Rd Ste 204B
Middlebury, CT
Firm
Ameriprise Financial

Data Provided by:
Mr. Nathaniel F. Burne, CFP®
(860) 417-2518
51 Depot Square
Watertown, CT
Firm
Cambridge Investment Research
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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



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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