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Pembroke Pines Retirement Planning

Pembroke Pines retirement planning all comes down to a bit of preparation. Starting early and understanding your options are two ways to fully maximize your savings for when you retire and ensure that you can make the most out of your golden years. If you are like most residents in Pembroke Pines, you are a little concerned about whether you are doing the right thing with your earnings each month. Get the reassurance you need by speaking to a Florida financial planner in Pembroke Pines, FL about your Pembroke Pines retirement planning goals.

Cash Balance and 401 (K) Plans

The most common type of retirement plans across the state are 401 (k) plans. 401 (k) plans are defined contribution plans which allow you to contribute a certain amount of your income for your retirement. 401 (k) plans are established through your employer and make saving for your retirement a lot easier. However, this is only one of the many ways you can save for your golden years. Make sure you also look into the other options when doing your Pembroke Pines retirement planning.

A cash balance plan, for example, is another good option when looking into Pembroke Pines retirement planning. Unlike a 401 (k), cash balance plans are defined benefit plans. What this means is that you will be making money in this plan, regardless of whether you choose to participate or not. A cash balance plan is established through your place of employment and is monitored through your employer. While this alleviates you from some of the pressure, it also means that you are not in complete control of your money for when you retire. Furthermore, it also means that your money is safe from any problems down the road as it will be insure through the Pension Benefit Guaranty Corporation (PBGC). 401 (k) plans, in contrast, are not.

Most residents in Pembroke Pines, FL will look into both a 401 (k) plan and a cash balance plan, if this option is available. If not, then another thing to do is contribute to an IRA or Roth IRA, which are individual savings accounts for when you retire. You are able to contribute $5,000 per year and more if you are over the age of 50 to use when you retire. This money is tax free which means you are getting more for your money at the end of your life.

Planning for Today and Tomorrow

Pembroke Pines retirement planning is not just about savings accounts and pension plans. There are several other things you need to consider when looking at the big picture and planning for your golden years. Real estate investments are often used as part of your retirement funds. For example, you may want to sell your current family home and downsize to an apartment, condo or small house in a retirement community in Pembroke Pines, in Florida or even across the nation. That way you will have a little more money saved up for golden years. You don't want to be forced to sell your family home just to afford groceries but this is always a good thing to have on the side.

One of the biggest concerns when it comes to Pembroke Pines retirement planning is finding the right balance between all the other expenses in your life. If you have children, for example, then you are probably torn between planning their education and their future and planning for when you retire. Should you contribute your extra money to a Roth IRA or should you start a term deposit or education fund for them? This is entirely up to you; however, one thing to remember is that there are several different funding options for students these days, from scholarship to federal grants. Retirees in Florida and across the nation, on the other hand, are on their own.

Financial Planning and Advice

Another worry when it comes to Pembroke Pines retirement planning is whether or not you are making the most out of your money. Are you contributing too much or not enough? Are you paying more tax than you need to just because you do not have a IRA set up? Are you spending too much now and not saving enough for later? These are all common concerns for residents in Pembroke Pines.

Pembroke Pines retirement planning can be done a number of ways; however, speaking to a financial planner in Pembroke Pines, FL is one of the best ways to get a grip on your retirement and ensure you are planning and saving the right way. You will get the reassurance and advice you need to move forward with your Pembroke Pines retirement planning and prepare for what's to come.

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Retirement Planners In Pembroke Pines

Paul Porter,CFP
Paul Porter,CFP
808 Polk Street
Hollywood, FL 33019

Mark Rowley
Mark Rowley
18851 NE 29th Avenue
Suite 501
Aventura, FL 33180

Jonathon Kollra
Jonathon Kollra
2 S. University Dr. Suite 231
Plantation, FL 33324

Jonathon Kollra
Jonathon Kollra
201 South Biscayne Blvd. 28th Floor
Miami, FL 33131

Jimmy Gonzalez
Jimmy Gonzalez
4000 Ponce de Leon Blvd
Suite 470
Coral Gables, FL 33146

David Balestriere
David Balestriere
7900 Glades Road Suite 310
Miami Ii - Boca Raton (West), FL 33434

Jonathon Kollra
Jonathon Kollra
9100 S Dadeland Blvd. Suite 1500
Miami, FL 33156

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