Retirement Planning in Ballwin, MO
Retirement Planning in Ballwin, MO. It's never too early — or too late — to start coming up with a financial path to a happy and healthy retirement. Retirement planning can be daunting for many Ballwin, MO residents who know that saving for retirement is important but aren't confident they're going to make it where they want to go. Whether you're interested in a second opinion on an existing plan or are looking to create an entirely new one, the Ballwin, MO retirement planning advisors at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years on first-class flights to Lake Como, or kicking back on the porch with a cigar. Speak to one of our seasoned and knowledgeable retirement planners today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Ballwin, MO?
Retirement planning is one of the most important aspects of financial planning and wealth management that seeks to prepare for your future life today by choosing the best stock options, asset management, savings plans, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you receive your first paycheck. If the idea of planning for an event decades into the future is challenging, or if you you don't have the abilities or time to optimize your savings, give the Ballwin, MO financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we get to know you and your finances personally and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Ballwin, MO
Life expectancy in the United States is higher than ever, and more and more of us will need judicious retirement planning in order to be comfortable and happy our golden years. But too few people in Ballwin, MO and throughout the country recognize how much good or bad retirement planning will determine the final 20%-33% of their lives. According to a recent study from the U.S. Department of Labor:
- Only half of adults in the United States have planned for how much in savings will be required for retirement
- Over a quarter of workers whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average American lives for about 20 years
Another survey reported that over three-quarters of Americans lack retirement planning knowledge. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have dire consequences for ourselves and our families. Even if you are responsibly putting money aside, you should still get in touch with a retirement planning consultant in Ballwin, MO to see if there is anything you are missing, for instance assessing 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 Ballwin, MO are here to answer any questions and to identify areas of your savings that are safe and those that could use an upgrade.
8 Ways to Upgrade Retirement Planning in Ballwin, MO
Below are some crucial tips to contemplate no matter how close you are to retirement:
- Start saving early
Most financial professionals recommend starting retirement savings as young as you can, as soon as you start working full time. While even if you are closer to retirement you can still start contributing to a retirement plan, you want the money to spend as much time collecting interest and growing from investments as possible.
- Understand your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to start your golden years? Or are you more content working and want to put off full retirement as long as possible? Are you retiring soon, or several decades down the line? The answers to those questions and more will help define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to some of the world's most incredible landmarks, or prefer to watch every Cardinals' game of the season, your retirement planning needs will be different. It's important to have a clear understanding of the lifestyle you want in your retirement, or, you may not be able to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should never undervalue the benefits of retirement planning as early as possible, it's also likely not a good idea to avoid other financial goals in Ballwin, MO like savings for your children's college education.
- 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 ideal retirement account(s) for you
Many Ballwin, MO residents feel their current 401(k) company is the best place to keep the money. Others may have employment with a 401(k), are considering moving the funds to an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A dependable life insurance plan will also protect your Ballwin, MO family in the event that the unexpected happens.
- Seek the services of professional retirement consultants
Like in any field, the experts know best. Veteran retirement consultants in Ballwin, MO, like those at Correct Capital, know how to assess the path you're currently on, identify any possible issues 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 focusing on working hard to accumulate the funds needed for your retirement plan, your Ballwin, MO retirement planning consultants at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Ballwin, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
- Small Business Retirement Plans
- Tax Planning
- Social Security Consultants Near Me
Ballwin, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers pride ourselves on 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 analytics, and ethics to only act in your best interest. If want us to evaluate your current plan in in Ballwin, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 314-930-401(k) or contact us online.
