Retirement planner in Kansas City, MO. Retirement planning is one of the most important financial decisions you'll ever make. At Correct Capital Wealth Management, we assist Kansas City, MO business owners and individuals and families craft personalized retirement plans to experience the retirement of their dreams. By working with our Kansas City, MO retirement planners, you can confidently look forward to a comfortable and fulfilling retirement. A thoroughly-planned retirement frequently a happier retirement. Give us a call at 877-930-4015, fill out our online form, or request 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 see how easy it is 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
Securing your future through retirement planning is crucial and sustaining the lifestyle you want after retirement, be it frequenting the golf course or learning every beach in the Caribbean by name. At Correct Capital, we view retirement planning as the process of determining retirement income goals and executing the necessary actions and decisions to meet those goals.
Essential elements of a complete retirement plan include:
- Savings: Accumulating funds through different savings accounts and retirement plans. This involves consistently saving part of your earnings 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, utilizing market gains and managing risks. We'll work with you to create an investment plan that aligns with your risk tolerance and retirement timeline.
- Income Sources: Identifying and maximizing different income streams, such as Social Security, pensions, and part-time work. Knowing the optimal times and methods to claim Social Security, utilizing employer pension opportunities, and evaluating supplementary income options can greatly affect your retirement funds.
- Expenses: Forecasting upcoming living costs, including healthcare, housing, and recreational pursuits. Our retirement plans consider inflation, increasing healthcare expenses, and long-term care requirements. 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, MO clients towards a secure retirement by using tailored methods, such as the bucket system, to ensure you have sufficient income to enjoy your retirement years.
Why You Need a Retirement Planner in Kansas City, MO
Having a professional Kansas City, MO financial advisor as a retirement planner can greatly influence your financial security. Here are some key benefits:
Specialized Knowledge in Financial Planning
Retirement planners have a wealth of expertise in financial planning. We keep abreast of the latest market trends, rules, and strategies, ensuring your retirement plan is optimized for your specific needs.
Customized Retirement Plans
Each individual's retirement goals and financial circumstances are distinct. A retirement planner develops a customized plan that aligns with your lifestyle, goals, and financial status, supporting you in realizing your retirement ambitions.
Optimizing Your Retirement Savings
A retirement planner can help you maximize your retirement savings through effective investment strategies, tax-advantaged planning, and selecting the most suitable retirement accounts. We ensure your money works hard for you, growing your savings over time.
Navigating Complex Financial Decisions
Retirement entails navigating complicated financial decisions, from choosing the right investment options to determining the optimal time to start Social Security benefits. A retirement planner guides you through these decisions, helping you make informed choices.
Mitigating Retirement Risks
Retirement planning entails handling several risks, such as changes in the market, inflation, and longevity risk. A retirement planner develops strategies to mitigate these risks, keeping your retirement funds secure and capable of supporting your retirement lifestyle.
Preventing Common Retirement Errors
Many people often encounter pitfalls in retirement planning, such as underestimating living expenses, not accounting for healthcare costs, or failing to diversify investments. A retirement planner in Kansas City, MO guides you to sidestep these common errors.
Ongoing Assistance
Retirement planning is not a one-time task but an ongoing process. A retirement planner delivers continuous guidance, frequently evaluating and updating your strategy to accommodate changes in your life, financial situation, or market conditions.
Comprehensive Retirement Services in Kansas City, MO
At Correct Capital Wealth Management, we offer an extensive range of financial planning services to help you achieve your retirement goals. By partnering with us, you receive:
- Comprehensive Financial Assessment: Our retirement planners carry out a detailed assessment of your financial status, including assets, liabilities, income, and expenses.
- Personalized Retirement Planning: Taking into account your current finances and retirement goals, a Correct Capital Kansas City, MO retirement planner creates a personalized plan that details the actions required to realize your retirement goals.
- Investment Management: Our retirement planners assist in creating an investment plan that aligns with your risk tolerance, time horizon, and retirement objectives. We provide continuous monitoring 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 analyze your situation to help you set yourself up for the maximum benefit pre-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 help you create a sustainable income plan, managing withdrawals from different accounts and investments.
- Estate Planning: Planning your estate guarantees your assets are allocated as you desire and can help minimize estate taxes. 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 protect your financial well-being.
- Risk Management: Addressing risks like market fluctuations, inflation, and longevity is essential for retirement planning. 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 assist in creating a plan to reduce it, making sure it doesn’t impact your retirement goals.
- Continuous Monitoring and Adjustments: Retirement planning is an ongoing process. Our Kansas City, MO retirement planners consistently track your progress, frequently evaluate your plan, and modify it when necessary to ensure you continue to meet your goals.
Benefits of Choosing Correct Capital Wealth Management for Your Kansas City, MO Retirement Planning
The right choice in retirement planning in Kansas City, MO greatly affects your retirement experience. Here’s why Correct Capital Wealth Management stands out:
- Qualifications: Our team comprises highly qualified specialists 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 guide you towards your retirement goals, 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 focused entirely on your best interests.
- Holistic Approach: Our comprehensive services address every facet of financial planning, ensuring no detail is overlooked in your retirement preparation.
- Financial Resources: We equip our clients with essential information through regular webinars, podcasts, newsletters, and one-on-one meetings.
- Proactive Communication: We ensure consistent communication to keep you informed and engaged, adjusting as needed to align with your objectives.
Other services we offer in Kansas City, MO include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Financial Planning
- Retirement Plan Consultants
- Fiduciary Financial Advisor
- Self-Employed Retirement Plans
Frequently Asked Questions (FAQs) About Retirement Planning
Q: What is the best age to start retirement planning?
A: Starting retirement planning early is highly recommended. If you begin in your 20s or 30s, your investments have more time to mature, but it's never too late to start.
Q: What amount is required for a comfortable retirement?
A: The amount needed depends on your lifestyle, health, and various other factors. A general rule many people follow is to aim for 70-80% of your pre-retirement income each year, but your Kansas City, MO retirement planner will help you understand how much income you need based on your lifestyle goals.
Q: What key elements should I focus on in retirement planning?
A: Critical elements to focus on are projecting future costs, knowing your income sources, diversifying your investments, and considering inflation and healthcare expenses.
Q: What steps can I take to increase my Social Security benefits?
A: To maximize Social Security benefits, consider postponing benefits until reaching or surpassing full retirement age, learn about the spousal benefits you can receive, and strategize your retirement income to reduce tax liabilities.
Q: How do I ensure my retirement savings last throughout my lifetime?
A: Use a withdrawal strategy like the 4% rule, adjust for market fluctuations, and explore annuities or similar investments to ensure a consistent income. We may also suggest a “bucket” strategy in which you strategically allocate your funds in various securities to manage your spending effectively over time.
Q: How can I catch up if I'm behind on retirement savings?
A: Raise your savings contributions, consider postponing retirement, fully utilize retirement account contributions, and evaluate your investment approach to ensure goal alignment. 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: Different income sources, like Social Security, pensions, and withdrawals from retirement accounts, may be taxed differently. Planning with a financial advisor can help minimize your tax burden.
Q: What role does healthcare play 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: How can I protect my retirement savings from market volatility?
A: Diversify your portfolio, by incorporating a balance of stocks, bonds, and other investments, and regularly adjust your portfolio to maintain risk levels and stay aligned with your retirement objectives.
Hire Correct Capital as Your Kansas City, MO Retirement Planner Today
Ensuring a secure and fulfilling future requires careful retirement planning. At Correct Capital Wealth Management, our Kansas City, MO retirement planners are dedicated to helping you achieve the retirement income you need to live the lifestyle you want. Our tailored, all-encompassing strategy ensures that every aspect of your financial life is reviewed and enhanced.
Contact us today to schedule a consultation with our experienced Kansas City, MO 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.
