Retirement Planning in Chesterfield, MO
Retirement Planning in Chesterfield, MO. It's never too early — or too late — to start coming up with a financial path to your golden years. Retirement planning can be daunting for many Chesterfield, MO residents who understand the value of planning ahead but don't know if they're headed in the right direction. Whether you're interested in modifying an existing plan or need to develop a plan, the Chesterfield, MO retirement planning specialists at Correct Capital will create a customized plan aimed at attaining your dreams; whether you want to be on cruise ships around Greek islands, or just spending some relaxing time in the garden. Talk to one of our accomplished and astute financial advisors today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Chesterfield, MO?
Retirement planning is an integral part of 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 portfolios, asset management, 401(k)s, and more.
Retirement planning, ideally, starts from the moment you get your first paycheck and continues into a happy retirement. If the prospect of planning for an event still decades away is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Chesterfield, MO financial advisors at Correct Capital a call at 877-930-4015. 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 Chesterfield, MO
Americans are living longer than ever, and more and more of us will need sage retirement planning in order to be comfortable and happy our golden years. But too few people in Chesterfield, MO and throughout the country understand 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 about 50% of Americans have calculated how much income they will need in retirement
- Over a quarter of workers with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. spends roughly 20 years in retirement
Another survey noted that four-fifths of Americans are concerned that they will not have enough for retirement. 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 for future generations. Even if you are dutifully putting money aside, it is likely best to consult with a retirement planning professional in Chesterfield, 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 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 Chesterfield, MO are here to perform a extensive evaluation of your finances and to identify areas of your savings that are secure and those that could use an upgrade.
8 Tips to Productive Retirement Planning in Chesterfield, MO
Below are some vital steps to contemplate 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 saving, you want the money to spend as much time collecting interest and growing from investments as possible.
- Decide on your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to retire early? Or would you be happier working for a few more years? Are you a few years or a few decades away from retirement? when you know that, you will be able to 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 Bora Bora, or prefer to watch every Cardinals' game of the season, your retirement planning needs will be different. It's important to know the lifestyle you want in your golden years, or, you may not be able to be as adventurous or as comfortable as you were hoping.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're still far away from retirement, you still need to be aware of other financial goals in Chesterfield, MO like protecting your family and assets with proper insurance.
- 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 best retirement account(s) for you
Many Chesterfield, MO residents are happy with their current 401(k) company. Others may not have access to a 401(k), wonder if their money might be best in an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Pay attention to estate planning
Estate planning ensures you'll leave a legacy for your children, grandchildren, and anyone else you'd like to include in your will. A good life insurance plan will also ensure your Chesterfield, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in Chesterfield, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and diagnose any possible blind spots and note potential areas for more growth; 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 Chesterfield, MO retirement planning advisors at Correct Capital will be working hard to ensure your hard work is not being wasted.
Other services we offer in Chesterfield, 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
Chesterfield, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants 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 tools, and ethics to only act in your best interest. If want us to evaluate your current plan in in Chesterfield, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
