Retirement Plan on Track Utica NY

With the significant fluctuations of the stock market in Utica as well as the potential for a long-term economic down turn there are many things that need to be considered as you plan for retirement.

Mr. Brant William Ford, CFP®
(315) 624-0940
2714 Genesee St
Utica, NY
Firm
Ford English Financial Group, LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Mark Lewandrowski, CFP®
(315) 724-5078
2406 Genesee St
Utica, NY
Firm
Ameriprise Financial
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Mr. Richard E. Tennant, CFP®
(315) 733-5995
2502 State Route 5
Utica, NY
Firm
Ameriprise Financial Services

Data Provided by:
Mr. Robert A. Dicks Jr., CFP®
(315) 768-3808
587 Main St Ste 107
New York Mills, NY
Firm
Robert A. Dicks Jr. Inc

Data Provided by:
Mrs. Michele A. Sheridan, CFP®
(315) 738-4578
555 French Rd Ste 2
New Hartford, NY
Firm
M Griffith Investment Services
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Elder Care, Insurance Planning, Investment Planning, Life Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. David R. Depiazza, CFP®
(321) 282-3569
121 Tarlton Dr
Utica, NY
Firm
Plan.Protect.Invest.
Areas of Specialization
Asset Allocation, Banking, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Education Planning

Data Provided by:
Mr. Alan R. Leist Jr., CFP®
(315) 735-7553
114 Business Park Dr
Utica, NY
Firm
Alan R Leist Planning Group, Inc.

Data Provided by:
Mr. Michael T. Beck, CFP®
(315) 235-0071
270 Genesee St
Utica, NY
Firm
NBT Bank Financial Group
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management

Data Provided by:
Mr. Daniel Brace Jones, CFP®
19 Campion Rd
New Hartford, NY
Firm
Northwestern Mutual

Data Provided by:
Mr. Christopher C. Giambrone, CFP®
(315) 765-6032
610 French Rd
New Hartford, NY
Firm
CoughlinGiambrone
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Data Provided by:

Retirement Plan on Track

With the future of Social Security unclear, fewer and fewer workers having a company sponsored pension plan and health care costs continuing to increase, being financially prepared for retirement looms as a significant challenge for many. With the significant fluctuations of the stock market as well as the potential for a long-term economic down turn there are many things that need to be considered as you plan for retirement.

Here are some basic strategies to consider:

  • Investors in their peak earning years should take full advantage of employer-sponsored retirement plans, individual retirement accounts and potentially annuities.

  • Asset allocation should be age appropriate and investors should avoid two common retirement savings mistakes: being overly cautious or taking excessive risks when deciding how much of their assets to invest in cash, stocks or bonds. Remember, though, that this does not ensure a profit or protect against a loss.

  • You should consider simple trade offs that can reduce expenses and increase savings, such as holding on to the family car a few extra years once it has been paid off.

  • Once you retire, stretching retirement savings to make it last is very important. Some folks are planning to work in retirement while others are postponing retirement to take advantage of added income and continued health care benefits. Given that Americans are living longer, and that market returns are unpredictable, smaller withdrawals in the early years of retirement could lead to greater long-term financial security.

  • Develop a detailed retirement plan. Typically, investors who are able to achieve the retirement lifestyle they want have created a detailed, realistic budget for retirement living expenses. Investors should plan for rising health care costs and other financial contingencies. To help stay on track, individuals and their spouses should review their plans annually, including expenses, investments and asset allocation.

  • Creating a successful retirement takes more than a one-step solution. Whether it’s finding a “fun” part-time job, eliminating one of the family cars or taking a vacation locally, retirees have implemented multiple strategies to extend their incomes, control their spending and maximize their savings.

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