Retirement Planning in Brentwood, MO
Retirement Planning in Brentwood, MO. It's never too early — or too late — to start saving for a happy and healthy retirement. Retirement planning can be an uphill battle for many Brentwood, 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're interested in modifying an existing plan or need to develop a plan, the Brentwood, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at accomplishing your dreams; whether you want to be on cruise ships around Greek islands, or perfecting your crossword skills. Talk to one of our seasoned and knowledgeable financial advisors today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Brentwood, MO?
Retirement planning is one of the most important aspects of financial planning and wealth management that sets goals for your retirement income and lifestyle and developes a sound strategy to get there, which includes investment 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 daunting, or if you you feel there just isn't enough time in the day to optimize your savings, give the Brentwood, MO financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Brentwood, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But too few people in Brentwood, MO and throughout the country understand 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 thought about how much income they will need in retirement
- Over one-fourth of employees 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. lives for about two decades
More research reported that 80% of Americans are apprehensive about their retirement funds. 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 judicious in your savings, you should still set up a meeting with a retirement planning specialist in Brentwood, MO to see if your savings plan has any blind spots, for instance evaluating 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 Brentwood, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Ways to Enhance Retirement Planning in Brentwood, MO
Below are some vital steps to abide by when beginning or fine-tuning your retirement planning:
- Don't wait to save
Most experts suggest starting retirement savings as early as you can, as soon as you get your first paycheck. While at any age you can start contributing to a retirement plan, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.
- 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 are you more content working and want to avoid full retirement for a few more years? Are you retiring soon, or do you still have more promotions and accolades to earn? A key understanding of your time horizon is crucial when you need to define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to Bora Bora, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary drastically. It's imperative to have a clear understanding of how you'd like to live out your retirement, or, you may find you do not have enough to be as adventurous or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While you should never underestimate the benefits of retirement planning when you're still far away from retirement, it's also likely not a good idea to avoid other financial goals in Brentwood, MO like valuable real estate investments.
- 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.
- Choose the best retirement account(s) for you
Many Brentwood, 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 be offered a 401(k), wonder if their money might be best in an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. 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 good life insurance plan will also ensure your Brentwood, MO family's future is secure if something happens to you.
- Hire professional retirement consultants
Like in any field, the experts know best. Qualified retirement consultants in Brentwood, MO, like those at Correct Capital, know how to evaluate your finances, note any potential blind spots and note potential areas for more growth; the same way a doctor may see something on an MRI that a patient might not.
While you're busy earning money for your retirement plan, your Brentwood, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in Brentwood, 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
Brentwood, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors 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 ethics to create a retirement plan that benefits you. If you want to make sure you're on the right track in Brentwood, MO, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 314-930-401(k) or contact us online.
