Investing for Retirement Frederick MD

You may look at your portfolio today and think you have plenty of money to start giving out gifts to your children in tax-free amounts generally up to $12,000 per year if you are single and $24,000 per year if you are married. But your spending may change in retirement.

Mr. Chris M. Moran, CFP®
(240) 855-0007
3535 Urbana Pike
Frederick, MD
Firm
PRIME Wealth Management/ Commonwealth Financial Network

Data Provided by:
Mr. Daniel Schiffman, CFP®
50 Citizens Way Ste 303
Frederick, MD
Firm
Northwestern Mutual

Data Provided by:
Nathan S Harris, CFP®
(301) 698-4730
30 West Patrick Street
Frederick, MD
Firm
Merrill Lynch

Data Provided by:
Cherie M Edwards, CFP®
(301) 698-4710
30 W Patrick St Fl 4
Frederick, MD
Firm
Merrill Lynch
Areas of Specialization
Comprehensive Financial Planning, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided by:
Mr. Scott H. Geisbert, CFP®
(301) 624-1717
149 West Patrick Street
Frederick, MD
Firm
Legacy Financial Associates
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial 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. Scott A Mccaskill, CFP®
(301) 668-7366
220 West Patrick Street
Frederick, MD
Firm
McCaskill Financial
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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



Data Provided by:
Ms. Laura E. Johnson, CFP®
(240) 285-5579
9624 Woodsboro Rd
Frederick, MD
Firm
Cetera Advisors LLC

Data Provided by:
Mr. Jason A. Jennings, CFP®
(240) 215-4709
6 W 2nd St
Frederick, MD
Firm
Key Financial Group, LLC
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Ms. Catharine V. Fairley, CFP®
(301) 694-7411
365 W Patrick St
Frederick, MD
Firm
Draper McGinley Planning Group

Data Provided by:
Mr. Dario Cavazos, CFP®
(301) 360-9973
10 N Jefferson St Ste 201
Frederick, MD
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Education Planning, Estate Planning, General Financial Planning, Insurance Planning, Long-Term Care, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

Investing for Retirement

The goal of investing for retirement is to have enough money so you will never run out for your entire lifetime. But how do you guarantee the cash you put away each month will flourish into a beautiful money tree that just keeps sprouting hundreds? And if it does grow forever, how do you ensure your family will have tax-free access in the future? Start by sitting down with your financial advisor to determine what you will need for your future, says Paul Palazzo, managing director of financial planning with L.J. Altfest & Company.

You may look at your portfolio today and think you have plenty of money to start giving out gifts to your children in tax-free amounts generally up to $12,000 per year if you are single and $24,000 per year if you are married. But your spending may change in retirement. For instance, while you are working, you may eat dinner every night at home and vacation twice a year. However, you may want to eat out three times a week and travel four times a year when you retire because you have unlimited time to try new restaurants and go on trips to exotic locales.

It's generally best to give small gifts to your children now and let them wait until inheritance time to get more money, which may or may not require them to pay income tax. This is because there is more than one type of IRA or individual retirement account.

All your IRAs can house your buckets of investments set aside for long-term retirement savings.

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