Retirement Planning in Arnold, MO
Retirement Planning in Arnold, MO. It's never too early — or too late — to start saving for your golden years. Retirement planning can be daunting for many Arnold, MO residents who know that saving for retirement is important but aren't sure if they're really saving enough and investing it wisely. Whether you already have a plan and want insight as to how it's performing or are have just started saving, the Arnold, MO retirement planning specialists at Correct Capital are here to help you get from where you are to where you're headed; whether your ideal retirement means on first-class flights to Lake Como, or helping raise the next generations. Talk to one of our experienced and knowledgeable wealth managers today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Arnold, MO?
Retirement planning is an integral part of of financial planning and wealth management that seeks to prepare for your future life today by choosing the best stock options, asset management, 401(k)s or IRAs, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event still decades away is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the Arnold, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will take a close look at your finances and goals and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Arnold, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But not enough people in Arnold, MO and beyond recognize the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to a recent study from the U.S. Department of Labor:
- Only about 50% of Americans have planned for how much income they will need in retirement
- Over 25% of employees whose employers' offered a defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends roughly 20 years in retirement
More research noted that over three-quarters of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. At some point, you'll go from acquiring money and assets, to taking money out of your savings rather than putting them in. Even if you are consciously preparing for retirement, it is likely best to reach out to a retirement planning consultant in Arnold, MO to see if your savings plan has any blind spots, for instance analyzing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Arnold, MO are here to perform a comprehensive evaluation of your finances and to identify areas of your savings that are safe and those that could use improvement.
8 Steps to Successful Retirement Planning in Arnold, MO
Below are some key steps to abide by no matter how much money you've saved:
- Don't wait to save
Most financial professionals advise starting retirement savings in your early 20s, as soon as you start working full time. While at any age you can start saving, the earlier you start contributing to a savings account the more your money will grow by the time you retire.
- Decide on your time horizon
Your time horizon refers to how long you have to before you'll need to start withdrawing from your savings. Would you like to add a few more years onto your retirement? Or would you be happier working as long as possible? Are you a few years or a few decades away from retirement? The answers to those questions and more will help define your risk tolerance and determine how to best position your savings.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to exotic beaches, or prefer to finally be able to sit back and relax, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may find you do not have enough to live the retirement you dreamed of.
- Balance your retirement goals with other priorities
While you should start saving when you're young, you still need to be aware of other financial priorities in Arnold, MO like paying down debt.
- Strive for a well-balanced financial portfolio
In order to best attain long-term growth, it's crucial to have a diversified portfolio, understand your risk tolerance as it relates to your time horizon, and maximize your tax benefits. While stocks are often seen as the keystone to a high-performing portfolio, you'll always want to invest in bonds, cash equivalents, mutual funds, ETFs, and more.
- Put your money in the appropriate retirement account(s) for you
Many Arnold, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering moving the savings to an IRA, if they should perform a 401(k) rollover, or are interested in alternative solutions. Depending on when you'll need to take the money out, tax liability, and more.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your Arnold, MO family's future is secure if the tragic happens.
- Hire professional retirement consultants
Like in any industry, the experts know best. Professional retirement consultants in Arnold, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any possible problem areas and see where you can improve; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're working hard to make a living and save for your retirement plan, your Arnold, MO retirement planning specialists at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Arnold, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Arnold, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners always offer our I.O.U. promise: we are independent, objective, and unbiased in all of the services and advice we offer. As fiduciary advisors and a Registered Investment Advisor, we have the insight, and morals to do what's best for you and only you. If you want to make sure you're on the right track in Arnold, MO, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 877-930-4015 or contact us online.
