Dependable Retirement Planning Advisors

Oakland Retirement Planning

Oakland retirement planning involves calculating the necessary savings for your later years, and creating a balanced portfolio of investments. Of course, that's not all! You'll also need to save money, which may involve budgeting. You'll want to choose the appropriate retirement accounts, too, for the sake of tax benefits.

Following a series of simple steps can make your Oakland retirement planning easier. Step number one: begin! The sooner you start planning your savings for your later years, the better. Easier said than done, sure, but it's a good idea to get going on your retirement planning as soon as you can. Getting started is the hardest part.

Retirement Planning Steps

If you haven't yet begun your Oakland retirement planning, now is the time to begin. With investments, slow and steady wins the race. If you start putting aside money early, it will have more time to grow. Compounding interest is one of the keys to growing your Oakland savings accounts and California retirement investments.

So, the first step is to start saving money. Saving money, depending on your lifestyle and income, could seem like a challenge. If you make a decent income, though, there's a pretty good chance that you could cut back on your spending to put money aside for your later years. For example, it may be time to stop eating out so frequently in downtown Oakland. Or, perhaps you need to stop planning such extravagant vacations?

One of the best ways to start saving is to put money automatically aside. If you make automatic contributions to a savings account, you may find that you don't even miss the money. Again, if you make a decent income at your Oakland, California job, you can probably figure out a way to save money by changing your habits slightly.

If your Oakland, CA company offers a 401(k), it's a good idea to take advantage of it by automatically putting a portion of your paycheck aside. A matching 401(k) is an especially good idea, because if your Oakland, CA employer offers to match a percentage of your contribution you're basically getting free money. Also, your contributions are tax-free.

Once you start saving, you need to figure out a way to invest your money so it grows. Your 401(k) plan will have some investment options which you should look into early on. If your California employer doesn't offer a 401(k), you might want to consider an IRA. An IRA offers some of the same benefits of a 401(k), and allows your money to grow tax deferred.

You might also want to consider a Roth IRA. In a Roth IRA, your money grows tax-free, but you don't get a tax deduction on your contribution. However, when you take the money out, you don't have to pay taxes on it. So, if you're planning to be in a higher tax bracket when you retire, you might want to consider a Roth IRA. This makes your Oakland retirement planning easier, too, as you don't have to anticipate that tax bite.

Finding a Financial Planning Advisor

At some point during your Oakland retirement planning, you'll probably want to seek professional help. An Oakland retirement planning expert can make saving for your California retirement much easier. You can consider buying stocks and mutual funds directly, if you want, though in most cases it's easier to have a broker.

If you want, you can set up a discount brokerage account, rather than a full service one, and do your own searching. However, if you don't want to spend a lot of time looking at stocks, you're probably better off looking for a full-service stock broker in Oakland, CA. He or she will offer you advice, prepare reports regarding your portfolio, and purchase and sell stocks on your behalf.

As you might guess, full-service brokers are more expensive. If you're interested in help with your Oakland retirement planning, though, a full service firm may be helpful. They will offer you access to research on stocks, tax help, and particular investment options. Also, a full service firm will offer you personalized help for your Oakland retirement planning.

If you do choose to go with a full service broker to help you with your retirement savings, be sure to choose carefully. Do your research to find a trustworthy company that you believe you will like working with. Interview a few potential brokers before you choose one, and take your time with the decision.

No one will take your money as seriously as you do, of course, so learn about the basics of investing before entrusting your money to someone. You want to understand what stocks and mutual funds are, so you can create a solid retirement portfolio. Remember, careful Oakland retirement planning will allow you to enjoy your golden years.

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Retirement Planners In Oakland

Personal Capital
Personal Capital
250 Montgomery Street
Suite 700
San Francisco, CA 94104

Elevate Capital
Elevate Capital
One Embarcadero Center
Suite 400
San Francisco, CA 94111

David Bobrowsky, CFP
David Bobrowsky, CFP
1261 Locust St.
Suite #60
Walnut Creek, CA 94596

Mark Palmer
Mark Palmer
2175 North California Boulevard
Suite 800
Walnut Creek, CA 94596

George  Salter II, JD, MBA, CFP
George Salter II, JD, MBA, CFP
PO Box 125
Danville, CA 94526

Mallory Dinis
Mallory Dinis
4301 Hacienda Drive, Suite 100
Pleasanton, CA 94588

William Callahan
William Callahan
2169 Francisco Blvd E Ste E
San Rafael, CA 94901

Kerry Lee
Kerry Lee
4040 Civic Center Drive
Suite 200
San Rafael, CA 94903

Ken Sakamoto
Ken Sakamoto
1050 Enterprise Way, 3rd Floor
Sunnyvale, CA 94089

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