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Retirement Planning Services Bridgewater MA

It’s never too early to start your retirement planning. The sooner you start the more money you collect. It’s important to look for quality jobs that have benefits packages you can take full advantage of. A 401(k) is a retirement plan set up by employers that allows employees to defer or invest a portion of their income, pre-tax, to their retirement plan. Here you’ll find useful retirement tips that will definitely help you with your retirement planning. Please scroll down for more information and access to the retirement financial advisors in Bridgewater, MA listed below that can explain more and even get you started on your retirement savings.

Linda Gadkowski
Beacon Financial Planning, Inc.
(508) 230-3588
45 Bristol Drive, Suite 101
South Easton, MA
Expertises
Ongoing Investment Management, Advising Employee Benefit Plan Participants, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, M.Ed.

Robert Hurley
Stoddard Management Co.
(781) 982-9932
800 Hingham Street
Rockland, MA
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Advising Employee Benefit Plan Participants, Tax Planning, High Net Worth Client Needs
Certifications
NAPFA Registered Financial Advisor

Joan Gagnon
Gagnon Wealth Mangement, LLC
(508) 339-8339
P.O. Box 334
Mansfield, MA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Women's Financial Planning Issues, Professional Athletes or Entertainers, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MST, PFS

Daniel Candura
PennyTree Advisers, LLC
(781) 930-3027
25 Braintree Hill Office Park
Braintree, MA
Expertises
Hourly Financial Planning Services, Investment Advice without Ongoing Management, Retirement Plan Investment Advice, Middle Income Client Needs, Advising Employee Benefit Plan Participants, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Stephen Gorman
Gorman Financial Management
(781) 556-1001
99 Derby Street, Suite 200
Hingham, MA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Financial Issues Between Generations
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Walter Herlihy
Beacon Financial Planning, Inc.
(508) 230-3588
45 Bristol Drive, Suite 101
South Easton, MA
Expertises
Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, ChFc, CLU

Carroll Hayes
Charles Carroll Financial Partners, LLC
(781) 444-7700
17 Rocky Nook Avenue
Kingston, MA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Charitable Giving - Trusts & Foundations, Real Estate Investments, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

David McPherson
Four Ponds Financial Planning, LLC
(508) 403-0060
20 Cabot Boulevard, Suite 300
Mansfield, MA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Middle Income Client Needs, Hourly Financial Planning Services, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®

Maxine Johnson
Foresight Personal Financial Planning, LLC
(508) 728-9454
P.O. Box 1059
Attleboro, MA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Investment Advice without Ongoing Management, Socially Responsible Investments, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CTFA, MBA

David McPherson
Four Ponds Financial Planning, LLC
(781) 561-1135
99 Derby St., Suite 200
Hingham, MA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Middle Income Client Needs, Hourly Financial Planning Services, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®

Investing in 401(k)s and IRAs

By Christopher Stella

So it’s the first day of work and HR asks whether or not you want to open up a 401(k) retirement account. “Heaven’s to Betsy” you say in your most petulant grandfatherly voice: why the hell do I need a retirement account? Ahh…so you say that now. But what happens when you’re 50 years old and realize that had you contributed a measly $100 a month to an account earning a reasonably conservative 6% interest rate, you could have been sitting on a cool $120,000. Not exactly a chunk of change to shake a cane at. But there’s more. Firstly, each of those piddly $100 contributions is tax free, meaning that had you not deposited them into the account, you would have only received about $60 to spend. Secondly, your employer (depending on their level of altruism) will frequently match those contributions up to a certain amount (usually between $1,000 and $2,000 a year). So now you’re talking close to a quarter of a million dollars, half of which was free!!!! Alright, so there’s a little more to it than that, but that’s the basic gist.

Statistics show that you need about 75% of your pre-retirement income to maintain a similar standard of living. So if you're making $150,000 a year, retire at 60, and stick around until you're 90, you'll need to save over $3,000,000. Here's are two easy ways you can make you can make that happen.

What’s a 401(k)?

A 401(k) is a retirement plan set up by employers that allows employees to defer (or invest) a portion of their income, pre-tax, to their plan. For example, if you make $45,000 a year, and contribute $2,000 to our 401(k), then you will only be taxed on $43,000 of your salary at the end of the year. Taxes on $2,000 are paid later when you take out the money during retirement. So why bother contributing?

A 401(k) is like a savings account on steroids. Because your deferral is pre-tax, it means you have more money to contribute, and a larger account grows faster. Further, employers often “match” or contribute a percentage of your deferral as well.

But don’t think that this is just some cash give-away-free-for-all. There are rules. First, the money can’t be withdrawn before the age of 59.5, unless there is an extenuating circumstance, such as serious financial hardship or disability. Otherwise, early withdrawals are subject to a 10% penalty, paid to the IRS. However, if you need to withdraw the money, as a result of the tax deferment on interest, the penalty isn’t significant. If your employer is also matching your funds, then the penalty is negligible.

The maximum current amount that can be invested each year is $15,000, as stated by the IRS. However, that number changes pretty regularly so check with your employer to figure out what the exact numbers are. But what if you leave your job? Well, it doesn’t really matter. You get to keep everything you’ve put in your account plus whatever portion of the money your employer has matched. And there are no penalt...

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