Retirement Planning West Palm Beach FL

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.

Robert Keats
Keats, Connelly and Associates, LLC
(561) 569-7401
1880 N. Congress Avenue, Suite 302
Boynton Beach, FL
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Financial Issues Between Generations, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MSFS

Dale Walters
Keats, Connelly and Associates, LLC
(561) 569-7401
1880 N. Congress Avenue, Suite 302
Boynton Beach, FL
Expertises
High Net Worth Client Needs, Estate & Generational Planning Issues, College/Education Planning, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CPA/PFS

Penny Marlin
Marlin Financial
(561) 381-0867
13129 Aliso Beach Drive
Delray Beach, FL
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Hourly Financial Planning Services, Charitable Giving - Trusts & Foundations, Women's Financial Planning Issues, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFP®, MA

Mr. Donald C. Jacobs, CFP®
(561) 207-3155
560 Village Blvd
West Palm Beach, FL
Firm
Prudential Financial
Areas of Specialization
Comprehensive Financial Planning, Investment Management, Social Security Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Dennis S. Gelfand, CFP®
(561) 686-2252
380 Columbia Dr.
West Palm Beach, FL
Firm
Hough, Gelfand & Assoc., P.A.
Areas of Specialization
Accounting, General Financial Planning, Tax Planning, Tax Preparation

Data Provided by:
Michael Pilato
Quantum Financial Advisors, Inc.
(561) 350-1632
2407 Quantum Blvd.
Boynton Beach, FL
Expertises
Hourly Financial Planning Services, College/Education Planning, Middle Income Client Needs
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA

Patrick Horan
Horan Capital Management, LLC
(561) 350-1410
6111 Via Venetia N
Delray Beach, FL
Expertises
High Net Worth Client Needs, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc

Mr. Steve A. Goindoo, CFP®
(561) 686-1110
420 Columbia Drive, Suite 110
West Palm Beach , FL
Firm
Divine, Blalock, Martin & Sell

Data Provided by:
Mr. Henry I. Pritchatt, CFP®
(561) 242-7990
603 Village BLVD.
West Palm Beach, FL
Firm
H I Pritchatt & Associates
Areas of Specialization
Accounting, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Aaron P. Jackson, CFP®
(561) 688-6306
580 Village Blvd
West Palm Beach, FL
Firm
VALIC

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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