Retirement Planning in Ballwin, MO
Professional, Honest, and Veterant Retirement Consultants and Financial Advisors
Retirement Planning in Ballwin, MO. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning can be daunting for many Ballwin, MO residents who want to be comfortable in retirement but aren't sure they're headed in the right direction. Whether you're interested in fine-tuning an existing plan or are just starting on your retirement planning journey, the Ballwin, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at achieving your dreams; whether that means spending your retirement years on the sandy white beaches of the British Virgin Islands, or helping raise the next generations. Talk to one of our accomplished and skilled financial advisors today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Ballwin, MO?
Retirement planning is an integral part of of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate stock options, asset management, savings plans, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event decades into the future is daunting, or if you you feel there just isn't enough time in the day to stay on top of market trends and familiarize yourself with financial law and lingo, give the Ballwin, MO financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we take a close look at your finances and goals and give you objective and unbiased advice with the objective of 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 retirement planning has never been more essential to ensuring we are set up for the remainder of our lives. But too few people in Ballwin, MO and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to a recent study from the U.S. Department of Labor:
- Only half of Americans have calculated how much in savings will be required for retirement
- Over 25% of workers who were able to contribute to defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. spends approximately 20 years in retirement
More research noted that 80% of Americans lack retirement planning knowledge. While it can be tempting to delay retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have negative consequences for ourselves and for future generations. Even if you are judicious in your savings, it is likely best to set up a meeting with a retirement planning specialist in Ballwin, MO to see if your money is set up as well as it can be for long-term growth, for instance evaluating tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNERS™ in Ballwin, MO are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Ways to Enhance Retirement Planning in Ballwin, MO
Below are some vital tips to consider no matter how much money you've saved:
- Start saving early
Most economists recommend starting retirement savings young, as soon as you start working full time. While it's never too late to start contributing to a retirement plan, the earlier you start saving the more your money will grow by the time you retire.
- Understand your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to retire early? Or are you more content working and want to avoid full retirement as long as possible? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine how to best position your savings.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to some of the world's most incredible landmarks, or prefer to be home as much as possible, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may not be able to live the retirement you dreamed of.
- Balance your retirement goals with other priorities
While it's always a good idea to prioritize retirement planning when you're young, do not forget about other financial priorities 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 appropriate retirement account(s) for you
Many Ballwin, MO residents find that the 401(k) company offered by their current or past employer meets their needs and are comfortable that their savings are growing well. Others may not have access to a 401(k), are considering moving the funds to an IRA, if they should perform a 401(k) rollover, or are interested in other savings plan options. Depending on when you'll need to take the money out, tax liability, and other factors.
- Remember estate planning
Estate planning ensures the people you care about most will be taken care of once you're gone. A wise life insurance plan will also ensure your Ballwin, MO family's future is secure in the event that the unexpected happens.
- Seek the services of professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in Ballwin, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and locate any potential problem areas and note potential areas for more growth; the same way a meteorologist can see weather patterns we can't.
While you're busy earning money for your retirement plan, your Ballwin, MO retirement planning consultants at Correct Capital will be working hard to ensure your hard work is paying off as much as it can.
Other services we offer in Ballwin, MO include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Ballwin, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers pride ourselves on our I.O.U. promise: all the advice we give will be independent, objective, and unbiased. As fiduciary advisors and a Registered Investment Advisor, we have the resources, and morals to help you achieve the retirement of your dreams. If you want to make sure you're on the right track in Ballwin, MO, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.