Retirement Planning Watertown 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.

Mr. Daniel P. Drappo, CFP®
(315) 773-5686
28499 NYS Rt. 3
Black River, NY
Firm
Community Investment Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. David D. Crapser, CFP®
(315) 788-5800
215 Washington St
Watertown, NY
Firm
Morgan Stanley Smith Barney
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning

Data Provided by:
HSBC Bank
1.800.975.HSBC (4722)
Dulles State Office Bldg 120 Washington Street
Watertown, NY
Services
Branch Services: Wheelchair Accessible Lobby, Deposit Drop Box, Night Deposit Drop Box, Notary Available, Foreign Currency Exchange
ATM Services: ATMs: 1, Wheelchair Accessible ATM
Office Hours
MONDAY: 09:00 am - 04:00 pm
TUESDAY: 09:00 am - 04:00 pm
WEDNESDAY: 09:00 am - 04:00 pm
THURSDAY: 09:00 am - 05:00 pm
FRIDAY: 09:00 am - 05:00 pm
SATURDAY: -
SUNDAY: -
Drive Up Hours
MONDAY: 08:30 am - 05:00 pm
TUESDAY: 08:30 am - 05:00 pm
WEDNESDAY: 08:30 am - 05:00 pm
THURSDAY: 08:30 am - 05:00 pm
FRIDAY: 08:30 am - 05:00 pm
SATURDAY: -
SUNDAY: -

HSBC Bank
1.800.975.HSBC (4722)
Village Hall 302 State St
Carthage, NY
Services
Branch Services: Wheelchair Accessible Lobby, Deposit Drop Box, Night Deposit Drop Box, Notary Available
ATM Services: ATMs: 1, Wheelchair Accessible ATM
Office Hours
MONDAY: 09:00 am - 04:00 pm
TUESDAY: 09:00 am - 04:00 pm
WEDNESDAY: 09:00 am - 04:00 pm
THURSDAY: 09:00 am - 05:00 pm
FRIDAY: 09:00 am - 05:00 pm
SATURDAY: -
SUNDAY: -
Drive Up Hours
MONDAY: 08:30 am - 05:00 pm
TUESDAY: 08:30 am - 05:00 pm
WEDNESDAY: 08:30 am - 05:00 pm
THURSDAY: 08:30 am - 05:00 pm
FRIDAY: 08:30 am - 05:00 pm
SATURDAY: -
SUNDAY: -

Paul Corr
Capital Financial Advisors of New York, LLC
(518) 280-0030
7 Corporate Drive
Clifton Park, NY
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS

Mrs. Christine M Cisco, CFP®
(315) 788-4200
111 Washington St
Watertown, NY
Firm
RBC Wealth Management
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Cross-Border Planning, Education Planning, Estate 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. Kenneth R. Piarulli, CFP®
(315) 785-0971
215 Washington St Ste 106
Watertown, NY
Firm
Ameriprise Financial Services, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Insurance Planning, Intergenerational Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
HSBC Bank
1.800.975.HSBC (4722)
Off Rt 11 Near Ft Drum 8489 South Main St
Evans Mills, NY
Services
Branch Services: Wheelchair Accessible Lobby, Deposit Drop Box, Night Deposit Drop Box, Notary Available, Foreign Currency Exchange
ATM Services:
Office Hours
MONDAY: 09:00 am - 04:00 pm
TUESDAY: 09:00 am - 04:00 pm
WEDNESDAY: 09:00 am - 04:00 pm
THURSDAY: 09:00 am - 05:00 pm
FRIDAY: 09:00 am - 05:00 pm
SATURDAY: -
SUNDAY: -
Drive Up Hours
MONDAY: -
TUESDAY: -
WEDNESDAY: -
THURSDAY: -
FRIDAY: -
SATURDAY: -
SUNDAY: -

HSBC Bank
1.800.975.HSBC (4722)
Post Office 26 E Church St
Adams, NY
Services
Branch Services: Wheelchair Accessible Lobby, Deposit Drop Box, Night Deposit Drop Box, Notary Available
ATM Services: ATMs: 1, Wheelchair Accessible ATM
Office Hours
MONDAY: 09:00 am - 04:00 pm
TUESDAY: 09:00 am - 04:00 pm
WEDNESDAY: 09:00 am - 04:00 pm
THURSDAY: 09:00 am - 05:00 pm
FRIDAY: 09:00 am - 05:00 pm
SATURDAY: -
SUNDAY: -
Drive Up Hours
MONDAY: 08:30 am - 05:00 pm
TUESDAY: 08:30 am - 05:00 pm
WEDNESDAY: 08:30 am - 05:00 pm
THURSDAY: 08:30 am - 05:00 pm
FRIDAY: 08:30 am - 05:00 pm
SATURDAY: -
SUNDAY: -

Karen Altfest
Altfest Personal Wealth Management
(212) 406-0850
425 Park Avenue, 24th Floor
New York, NY
Expertises
Women's Financial Planning Issues, Ongoing Investment Management, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Alternative or Private Investments
Certifications
NAPFA Registered Financial Advisor, CFP®, MA, PhD

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