Retirement planner in Kansas City, KS. Retirement planning is a critical facet of your financial life. At Correct Capital Wealth Management, we guide Kansas City, KS business owners and individuals and families develop personalized retirement plans to live out the retirement of their dreams. By partnering with our Kansas City, KS retirement planners, you can set yourself up for a comfortable and rewarding retirement. A better-planned retirement is often a more enjoyable retirement. Give us a call at 877-930-4015, contact us online, or schedule an appointment with a member of our advisor team to get started.
Not sure you're ready to work with a financial advisor? Take a look at our process to learn how simple we make it to get started, or read our FAQs about our services.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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Key Components of Retirement Planning
Retirement planning is essential for securing your future and living your retirement as you always dreamed, whether that means filling out your cigar collection or learning every beach in the Caribbean by name. At Correct Capital, we view retirement planning as the process of establishing retirement income objectives and making actions and decisions necessary to achieve those goals.
Key components of a comprehensive retirement plan include:
- Savings: Accumulating funds through different savings accounts and retirement plans. This involves regularly allocating a portion of your income into accounts like 401(k)s, IRAs, and other savings vehicles, ensuring that you have a significant fund accumulated for retirement.
- Investments: Enhancing your wealth by diversifying investments in stocks, bonds, and other financial tools. A diversified investment portfolio can help increase your retirement savings, taking advantage of market growth while mitigating risk. We'll work with you to formulate an investment approach that aligns with your risk tolerance and retirement timeline.
- Income Sources: Recognizing and optimizing various income sources, such as Social Security, pensions, and part-time work. Understanding when and how to claim Social Security benefits, utilizing employer pension opportunities, and considering additional income opportunities can profoundly influence your retirement earnings.
- Expenses: Projecting future expenses, including healthcare, housing, and leisure activities. Our retirement plans help account for inflation, rising healthcare costs, and potential long-term care needs. We'll assist you in estimating these costs and devising a plan to manage them without sacrificing your quality of life.
At Correct Capital, we guide our Kansas City, KS clients towards a secure retirement by using customized strategies, such as the bucket system, to support you in maintaining the income needed to fulfill your retirement dreams.
Why You Need a Retirement Planner in Kansas City, KS
Having a professional Kansas City, KS financial advisor as a retirement planner can profoundly impact your financial future. Here are some key benefits:
Specialized Knowledge in Financial Planning
Retirement planners bring deep knowledge and experience to financial planning. We remain informed on current market trends, regulations, and strategies, ensuring your retirement strategy is fine-tuned to meet your unique requirements.
Personalized Retirement Strategy
Retirement goals and financial situations vary for each person. A retirement planner creates a personalized strategy that aligns with your lifestyle, goals, and financial status, ensuring you reach your retirement aspirations.
Maximizing Retirement Savings
A retirement planner can help you maximize your retirement savings through strategic investments, tax-advantaged planning, and selecting the most suitable retirement accounts. We help your money grow effectively, growing your savings over time.
Navigating Complex Financial Decisions
Retirement entails navigating complicated financial decisions, from choosing the right investment options to figuring out the best time to claim Social Security. A retirement planner assists you in making these decisions, ensuring you make well-informed decisions.
Managing Risks
Retirement planning entails handling several risks, such as market volatility, inflation, and longevity risk. A retirement planner formulates approaches to manage these risks, keeping your retirement funds secure and sufficient to maintain your retirement living standards.
Preventing Common Retirement Errors
Many people commit typical errors during retirement planning, such as underestimating living expenses, not accounting for healthcare costs, or failing to diversify investments. A retirement planner in Kansas City, KS helps you avoid these pitfalls.
Long-Term Support
Retirement planning is not a single event but an continuous endeavor. A retirement planner offers long-term support, frequently evaluating and updating your strategy to reflect changes in your personal circumstances, financial situation, or market conditions.
Comprehensive Retirement Services in Kansas City, KS
At Correct Capital Wealth Management, our clients receive an extensive range of financial planning services to help you achieve your retirement goals. When you work with us, you get:
- Comprehensive Financial Assessment: Our retirement planners conduct a thorough evaluation of your current financial situation, including assets, expenses, money coming in, and your debts.
- Personalized Retirement Planning: Based on your current finances and retirement goals, a Correct Capital Kansas City, KS retirement planner crafts a tailored plan that maps out the necessary steps to realize your retirement goals.
- Investment Management: Our retirement planners help you develop an investment strategy that aligns with your risk tolerance, time horizon, and retirement objectives. We provide ongoing management and adjustments to your investment portfolio to ensure it remains in-line with your retirement goals.
- Tax Planning: Effective tax planning can significantly impact your retirement savings. Retirement planners offer strategies to reduce your tax burden, such as tax-efficient investment options, Roth conversions, and timing of withdrawals.
- Social Security Optimization: Strategically maximizing your Social Security benefits is crucial. Our retirement planners review your individual case to ensure you are positioned for maximum benefits before retirement and find the best time to commence benefits.
- Retirement Income Planning: A critical aspect of retirement planning is ensuring a steady income stream throughout your retirement years. Retirement planners assist in developing a long-term income strategy, harmonizing withdrawals from multiple sources.
- Estate Planning: Estate planning secures the distribution of your assets per your intentions and can help reduce estate tax burdens. Our retirement planners collaborate with estate lawyers to draft the required wills, trusts, and paperwork.
- Healthcare Planning: Healthcare expenses can be a significant concern during retirement. Retirement planners help you plan for these costs by reviewing insurance choices, such as Medicare and long-term care insurance, to safeguard your finances.
- Risk Management: Mitigating risks including market changes, inflation, and longevity is vital in retirement. Retirement planners create plans to minimize these risks and secure your retirement nest egg.
- Debt Management: If you have existing debt, a retirement planner can help you develop a strategy to pay it down, ensuring it doesn’t hinder your retirement plans.
- Continuous Monitoring and Adjustments: Retirement planning is an ongoing process. Our Kansas City, KS retirement planners regularly oversee your progress, frequently evaluate your plan, and make adjustments as needed to keep you aligned with your objectives.
Why Choose Correct Capital Wealth Management as Your Kansas City, KS Retirement Planner
The right choice in retirement planning in Kansas City, KS greatly affects your retirement experience. Here’s why Correct Capital Wealth Management stands out:
- Qualifications: Our team comprises seasoned professionals with deep expertise and professional credentials in financial planning, including retirement plan specialists, an Accredited Investment Fiduciary (AIF®), and CERTIFIED FINANCIAL PLANNER™ professionals. As a Registered Investment Advisor (RIA), we have access to a wealth of investment solutions and investment research sources.
- Client-Centric Approach: We begin with your specific financial circumstances and help you get where you want to go, ensuring your retirement roadmap is personalized for your individual circumstances.
- Fiduciary Duty: We offer transparent, truthful, and impartial advice, free from conflicts of interest. As fiduciary financial advisors, our recommendations are centered on what benefits you most.
- Holistic Approach: Our comprehensive services address every facet of financial planning, ensuring no detail is overlooked in your retirement preparation.
- Financial Resources: We provide our clients with valuable insights through regular webinars, podcasts, newsletters, and one-on-one meetings.
- Proactive Communication: We ensure consistent communication to keep you updated and involved, making necessary changes to stay on track with your goals.
Other services we offer in Kansas City, KS include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
Frequently Asked Questions (FAQs) About Retirement Planning
Q: When should I begin planning for retirement?
A: Ideally, you should start planning for retirement as early as you can. Beginning in your 20s or 30s provides your investments with ample growth time, but even starting later is beneficial.
Q: What amount is required for a comfortable retirement?
A: The amount needed is influenced by lifestyle, health, and other considerations. A general rule many people follow is to aim for 70-80% of your pre-retirement income each year, but your Kansas City, KS retirement planner will assist in determining the necessary income based on your lifestyle goals.
Q: What key elements should I focus on in retirement planning?
A: Important considerations are future expense estimation, income source understanding, investment diversification, and accounting for inflation and healthcare costs.
Q: How can I maximize my Social Security benefits?
A: To maximize Social Security benefits, think about waiting until full retirement age or beyond to claim benefits, learn about the spousal benefits you can receive, and design your retirement income approach to lower tax consequences.
Q: How do I ensure my retirement savings last throughout my lifetime?
A: Implement a withdrawal strategy, such as the 4% rule, make adjustments for market changes, and think about annuities and other income-producing investments for a stable income. We may also suggest a “bucket” strategy in which you deliberately diversify your investments to better manage your expenses over time.
Q: What should I do if I'm behind on my retirement savings?
A: Increase your savings rate, delay retirement if possible, fully utilize retirement account contributions, and review your investment strategy to ensure it's aligned with your goals. You may also consider working part-time to increase your income, especially in the first years of retirement.
Q: How are my retirement income sources taxed?
A: Taxes apply differently to Social Security, pensions, and retirement account withdrawals. Planning with a financial advisor can help minimize your tax burden.
Q: How important is healthcare in retirement planning?
A: Healthcare expenses often increase as you and your spouse age. Planning for these expenses with health savings accounts (HSAs), long-term care insurance, and being aware of Medicare options is crucial.
Q: What strategies can I use to safeguard my retirement savings from market fluctuations?
A: Diversify your portfolio, consider a mix of stocks, bonds, and other assets, and rebalance periodically to manage risk and ensure alignment with your retirement goals.
Hire Correct Capital as Your Kansas City, KS Retirement Planner Today
Retirement planning is essential for a secure and enjoyable future. At Correct Capital Wealth Management, our Kansas City, KS retirement planners are dedicated to helping you attain the retirement funds necessary for the lifestyle you envision. Our personalized, comprehensive approach ensures that every aspect of your financial life is taken into account and maximized.
Contact us today to book a meeting with our knowledgeable Kansas City, KS retirement planners. You can speak to a team member at 877-930-4015, contact us online, or schedule an appointment with a member of our advisor team to get started.
