Joe Allaria

CFP®
Retirement, Investing, Insurance
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107
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2
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“Helping you reach complete financial fulfillment is our team's purpose. Building strong relationships through collaboration is the key to our success. The result is a financial plan that you can be confident in.”
Firm:

Visionary Wealth Advisors, LLC

Job Title:

Wealth Management Advisor

Biography:

Joe is a CERTIFIED FINANCIAL PLANNER™ professional who works to help clients plan for a state of complete financial fulfillment. He and his team build long-lasting relationships with their clients and collaborate with them and the other financial professionals they work with to help create a cohesive financial plan.

Joe has been featured in The Wall Street Journal, on Yahoo Finance, USAToday.com, Nasdaq.com, Christian Science Monitor and NerdWallet. Joe has a Masters of Business Administration from Southern Illinois University Edwardsville and a Bachelor’s Degree in Marketing from Southern Illinois University Carbondale and a . He holds a Life & Health Insurance License and a Series 65 Securities License.

Joe works primarily with individuals and families at or nearing retirement, and highly successful "up-and-comers" in the medical, legal, and sales industries. 

Joe was born and raised in Edwardsville, Illinois and lives with his wife, Jacki and son Brooks. Joe, Jacki, and Brooks are members of Enjoy Church and Matthew Allaria Ministries (led by Joe’s brother, Matthew). His family enjoys travel, golf, playing music and spending time with family and friends.

Education:

BS, Marketing, Southern Illinois University Carbondale
MBA, Southern Illinois University Edwardsville

Assets Under Management:

$130 million

Fee Structure:

Fee-Based

CRD Number:

6122862

Insurance License:

#16560319

Disclaimer:

Investing involves the risk of loss and investors should be prepared to bear potential losses. Past performance may not be indicative of future results and may have been impacted by events and economic conditions that will not prevail in the future. Therefore, it should not be assumed that future performance of any specific security, investment product or investment strategy referenced in the Article, either directly or indirectly, will be profitable or equal to the corresponding indicated performance level(s). No portion of the Article shall be construed as a solicitation to buy or sell any specific security or investment product or to engage in any particular investment strategy. In addition, this Article shall not constitute  the provision of personalized investment, tax or legal advice, and investors shall not assume this Article serves as a substitute for personalized individual advice. Information contained in this  Article may have been derived from third-party sources that VWA believes to be reliable; however VWA does not control such information and does not guarantee the accuracy or timeliness of such information and disclaims all liability for damages resulting from such sources. Links or references to third-party websites are provided as a convenience and do not constitute an endorsement by VWA, and the Firm is not responsible for the content of any such websites.  Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the performance of an actual investment portfolio.

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April 2016
    Insurance, Senior Care
September 2016
    Career / Compensation, Personal Finance

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    Retirement Savings, Retirement Plans
What are some nearing retirement tips?
100% of people found this answer helpful

Thank you for your question. And, congrats on what seems like a great position you've put yourselves in thus far. It sounds like you're dealing with a very common issue in planning for retirement. You share the same concerns with many Americans, but honestly, not many have done such a great job saving like you have. With the right guidance, I believe you should be able to enjoy a wonderful retirement.

However, the biggest piece of information that I don't have from your description is how much you think you'll need to live on per month in retirement. While you do seem to have a solid foundation of retirement savings and minimal debt obligations, the outcome of your retirement plan is going to depend on how significant your outflows are.

To give you a quick comparison though, economists used to agree mostly on what's known as the 4% withdrawal rule. This rule roughly stated that if you invest your retirement accounts in a moderate manner (60% stocks, 40% bonds) and withdraw only 4% of your account each year, that your money should last you for 30 years, effectively lasting your entire retirement. However, with today's interest rate environment being what it is, the 4% withdraw rule has become somewhat obsolete and some advisors think 3% is more realistic.

Either way, a 3% withdraw rate would provide you with $39,000 per year from you investment portfolio in year 1 of retirement. So, what will your Social Security benefits look like? Do you have pension income as well? Any inheritances expected for the future? Planning for retirement can be difficult because the smallest inaccuracies in your assumptions can really sway the outcome in either direction. That's why it takes a qualified, Certified Financial Planner to guide you on these factors.

If you'd like to contact me directly, I'd be happy to help you get a better idea of what kind of track you're on for your retirement years. Again, kudos for what you've done up to this point and good luck in the future!

Joe Allaria, CFP®

August 2016
    401(k)
Is it a risk to do a 401K with the company I work for?
100% of people found this answer helpful
January 2016
    Investing, Choosing an Advisor
What should a prudent investor pay per year to manage a $100K-$250K portfolio?
100% of people found this answer helpful
June 2016
    Investing, Mutual Funds
Is our investment manager making too many mutual fund trades?
100% of people found this answer helpful
June 2016
    Retirement Savings, 401(k), IRAs
Am I eligible to make and deduct contributions to an individual (traditional) IRA?
100% of people found this answer helpful
April 2016