Retirement Planning in Chesterfield, MO
Retirement Planning in Chesterfield, MO. It's never a bad time to start coming up with a financial path to your golden years. Retirement planning can be daunting for many Chesterfield, 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 already have a plan and want insight as to how it's performing or are just starting on your retirement planning journey, the Chesterfield, MO retirement planning consultant at Correct Capital will create a customized plan aimed at accomplishing your dreams; whether your ideal retirement means as a frequent flyer to Hawaii, or just spending some relaxing time in the garden. Talk to one of our experienced and astute retirement planners today by calling 314-930-401K 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 seeks to prepare for your future life today by choosing the best investment options, asset management, 401(k)s or IRAs, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you become a full-time worker. If the idea of planning for an event still decades away is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to stay on top of market trends and familiarize yourself with financial law and lingo, give the Chesterfield, 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 Chesterfield, MO
Americans are living longer than ever, and more and more of us will need wise retirement planning in order to be comfortable and happy our golden years. But too few people in Chesterfield, MO and throughout the country understand the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to a recent study from the U.S. Department of Labor:
- Only about 50% of adults in the United States have considered 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 add any savings to it
- The average person in the United States lives for approximately 20 years
Additional studies noted that over three-quarters of Americans are worried that they will not have enough for retirement. 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 responsibly putting money aside, you should still reach out to a retirement planning specialist in Chesterfield, MO to see if your plan could be improved, 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 Chesterfield, MO are here to answer any questions and to identify areas of your savings that are well-positioned and those that could use an upgrade.
8 Keys to Productive Retirement Planning in Chesterfield, MO
Below are some of the most important steps to contemplate no matter how much money you've saved:
- Don't wait to save
Most experts suggest starting retirement savings as early as possible, as soon as you get your first paycheck. While it's never too late to start putting money aside, the earlier you start saving the more your money will grow by the time you are ready to leave the workforce.
- 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 retire early? 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 imperative when you need to define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to expensive travel destinations, or prefer to be home as much as possible, your retirement plan can obviously vary significantly. It's imperative to know the lifestyle you want in your golden years, or, you may find you do not have enough to be as adventurous or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never undervalue the advantages of retirement planning when you're young, you still need to be aware of other financial priorities in Chesterfield, MO 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 Chesterfield, 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 transferring the savings to an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Depending on your age, tax liability, and other factors.
- 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 dependable life insurance plan will also protect your Chesterfield, MO family if the tragic happens.
- Speak to professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Professional 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 note any potential issues and see where you can improve; the same way a chiropractor can notice issues with your alignment.
While you're working hard to make a living and save for your retirement plan, your Chesterfield, MO retirement planning specialists 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 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
- Social Security Consultants Near Me
Chesterfield, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners pride ourselves on our I.O.U. promise: everything we tell you will be independent, objective, and unbiased. As fiduciary advisors and a Registered Investment Advisor, we have the tools, and integrity to do what's best for you and only you. If you'd like a retirement planning check-up in Chesterfield, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.
