Retirement Planning Elmira NY

Retirement is a big decision for everyone working in today's economy. When you can retire comfortably is a matter that is different for every individual. Taking the proper steps today can help you plan an easy and comfortable retirement for tomorrow. There are many options to choose from to help make retirement the best years of your life.


1 . Local Companies

Mr. Peter Winnett, CFP®
(607)562-3918
2881 County Line Dr
Big Flats, NY
Mr. Jason Nickerson, CFP®
(607)936-3785 (124)
51 E Market St
Corning, NY
Ms. Sarah Creath, CFP®
607-936-3785
51 E Market St
Corning, NY
Mr. Todd Brost, CFP®
(607)936-3720 (170)
51 East Market Street
Corning, NY
Ms. Lynn Williams, CFP®
(607)733-1454
517 W 3rd St
Elmira, NY
Michael Dinich
2382 Elmira Street
Sayre, PA
Ms. Catherine Crandall, CFP®
(607)787-3840
PO Box 44
Corning, NY
Mrs. Nancy Socha, CFP®
(607)962-3332
181 E 2nd St
Corning, NY
Mr. Timothy Sallade, CFP®
(607)936-3785 (172)
3148 Goff Rd
Corning, NY
Andrew Clark, CFP®
607-734-2665
400 East Water Street
Elmira, NY
Data Provided by:
    

2 . Deciding When to Retire

You may be years from retiring, or it might be closer than you think. The reasons for retiring can be different for everyone, whether it is for health reasons, job reasons, money reasons, or simply because the time is right. To be prepared for retirement, it is best to start early preparing for this very important step in your life. It is never too late or too early to plan for your retirement.

One important step to deciding when to retire is thinking about how much money you would like to have saved. There are many questions that need to be answered when deciding this. How much money you need will depend on how many bills you will have in retirement, if you will want to travel, if your mortgage is paid off, the cost of living where you will be, inflation, and much more. These questions must be examined and answered when you start thinking about retirement.

Deciding how much money you will need to live the lifestyle you want while retired is important. According to experts, you may need at the very least 70 percent of your pre-retirement income if you plan to live at a comfortable pace. You may need more or less, depending on what activities you plan to partake in.

3 . Make Out a Will

A crucial element of retiring may just be the making of a will. It may sound morbid, but in reality it is a practical step in planning and ensuring that all your assets are distributed the way you desire.

What is a will?

A will is simply a legal document that spells out how you want your estate to be divided after your death. It is a simple process, although one that does require much thought and planning. You will establish how any of your assets will be distributed, and who gets what.

What are the requirements of making a will?

In most states, you must be 18 years old to make out a will. You must be of sound judgment and mind. The will must clearly state that it is your will. Most states require that a will be typewritten or computer generated, although there are a few states that accept handwritten wills. You must also sign a will in front of at least two witnesses.
It is not necessary to have a will notarized or done by a lawyer; however, you may want to do so to avoid any discrepancies after your death. You may also wish to have the legal advice of a lawyer when making a will, as they can explain to you the finer points and laws of your state.

4 . Employ a Financial Advisor

It is wise to receive the help of a financial advisor to help plan your finances for your retirement. A financial advisor, or planner, is a professional who can give quality investment advice and help plan financial issues with either individuals or businesses. The main job of a financial advisor is to help the person they are working with maximize their net worth by properly distributing their assets. Financial advisors may use stocks, bonds, and insurance products, for example, to meet the goals that the client has set forth.

A financial advisor typically does receive a commission for their services. A newer payment plan is called "fee-based" and is becoming a more popular way to plan in the industry.

When choosing a financial planner to help plan your retirement future, there are many things that should be asked first. Find out how much experience that person has and what their qualifications are. Ask what their approach is to financial planning to make sure you are on the right page when it comes to your future. Find out if the financial planner you would like to choose has had any criminal charges or allegations brought against him or her, and why. Finally, learn about their fee up front, and ask for everything in writing.
Related Articles
- Retirement Preparation Elmira NY
Do you know how much money you will need at retirement? Do you know if you will even have that much money? The best method to know for certain is for you to start putting together your retirement worksheet today.
- Certified Financial Planner Elmira NY
- Early Retirement and Health Care Elmira NY
- Retirement Planning Elmira NY
- Understanding your 403b Elmira NY
- Retirement Planning Elmira NY
- Financial Planning Elmira NY
- Simple IRA Elmira NY
- Retirement Planning Calculator Elmira NY
- Retirement Preparation Elmira NY