Retirement Planning in Belleville, IL
Retirement Planning in Belleville, IL. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Belleville, IL residents who understand the value of planning ahead but aren't sure they're going to make it where they want to go. Whether you're interested in modifying an existing plan or need to develop a plan, the Belleville, IL retirement planning specialists at Correct Capital will create a bespoke plan aimed at achieving your dreams; whether you want to be touring French vineyards, or kicking back on the porch with a cigar. Speak to one of our accomplished and astute financial planners today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Belleville, IL?
Retirement planning is an important facet of financial planning and wealth management that refers to financial strategies to meant to save for the future, like stock options, asset management, savings plans, and more.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a relaxing retirement. If the prospect of planning for an event decades into the future is nerve-racking, or if you you don't have the abilities or time to actively manage a great retirement plan, give the Belleville, IL financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we get to know you and your finances personally and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Belleville, IL
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But not enough people in Belleville, IL and beyond appreciate 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 Americans have planned for how much they need to save for retirement
- Over one-fourth of workers who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends about 20 years in retirement
Another survey found that 80% of Americans are worried that they will not have enough for retirement. At some point, you'll go from a consistent inflow of money and assets, to taking money out of your savings rather than putting them in. Even if you are responsibly putting money aside, you should still consult with a retirement planning specialist in Belleville, IL 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 your savings would be better positioned if you roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Belleville, IL are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Ways to Upgrade Retirement Planning in Belleville, IL
Below are some of the most important steps to consider no matter how close you are to retirement:
- Don't wait to save
Most experts suggest starting retirement savings as early as possible, as soon as you enter the workforce. While at any age you can start saving, 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 leave the workforce sooner than most? Or are you more content working and want to avoid full retirement for a few extra years? 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 where you money is better off growing.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to the south of France, or prefer to watch all 162 Cardinals' games, your retirement planning needs will be different. It's imperative to know how you'd like to live out your golden years, or, you may find you do not have enough to live the retirement you dreamed of.
- Don't forget about other priorities
While you should start saving as early as possible, do not forget about other financial issues in Belleville, IL like establishing an emergency fund.
- 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 Belleville, IL 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 have a job with a 401(k), are considering transferring the funds to an IRA, if they should carry out a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also protect your Belleville, IL family in the event that the unexpected happens.
- Seek the services of professional retirement consultants
Like in any sphere, the experts know best. Professional retirement consultants in Belleville, IL, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and locate any potential blind spots and see where you can improve; the same way a chiropractor can notice issues with your alignment.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Belleville, IL retirement planning advisors at Correct Capital will be working hard to rebalance your portfolio in the interest of keeping your money and savings performing for you.
Other services we offer in Belleville, IL 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
Belleville, IL Retirement Planning | Correct Capital
At Correct Capital, our retirement planners 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 integrity to do what's best for you and only you. If you want to make sure you're on the right track in Belleville, IL, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.
