Retirement Planning Winchester VA

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.

Julia Connell
Hoxton Financial, Inc.
(540) 450-1500
35 North Braddock Street
Winchester, VA
Expertises
High Net Worth Client Needs, Advising Medical Professionals, Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Archibald Hoxton
Hoxton Financial, Inc.
(540) 450-1500
35 North Braddock Street
Winchester, VA
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor, AAMS, AIF, CFP®

Mr. Thomas E. Stine, CFP®
(540) 450-1500
35 N Braddock St
Winchester, VA
Firm
HFI Wealth Management
Areas of Specialization
Asset Allocation, Budget Development, Charitable Giving, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning

Data Provided by:
Mrs. Julia M Connell, CFP®
(540) 450-1500
35 N. Braddock Street
Winchester, VA
Firm
Hoxton Financial, Inc.

Data Provided by:
Mr. Paul Magness, CFP®
(540) 723-2467
440 W Jubal Early Dr Ste 260
Winchester, VA
Firm
Morgan Stanley
Areas of Specialization
Comprehensive Financial Planning, Government and Military, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Christine Mistr
Dominion Financial Consultants, LLC
(540) 535-0505
45 East Boscawen Street, 3rd Floor
Winchester, VA
Expertises
Tax Planning, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Planning Issues for Business Owners, Hourly Financial Planning Services, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CPA/PFS, JD

Blaine Dunn
Dunn Financial Advisors, LLC
(540) 665-8006
115 Bedford Drive
Winchester, VA
Expertises
Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Advising Medical Professionals, Tax Planning, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MA

Mr. John R. Clawson, CFP®
(540) 662-4642
2971 Valley Ave
Winchester, VA
Firm
Waddell & Reed Financial Advisors
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Jeremy D. Nichols, CFP®
(540) 662-5233
24 W Piccadilly St
Winchester, VA
Firm
Winchester Wealth Management

Data Provided by:
Mr. J. Stephen Bauserman, CFP®
(703) 667-4272
609 S Braddock St
Winchester, VA
Firm
Bauserman Financial Services,Inc.
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

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....

Click here to read the rest of this article at Zacks.com