Retirement Planning in Concord, MO
Professional, Honest, and Accomplished Retirement Planners and Financial Advisors
Retirement Planning in Concord, MO. You work hard for your money to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning is a necessary but sometimes confusing topic for many Concord, MO residents who want to be comfortable in retirement but aren't sure 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 Concord, MO retirement planning consultant at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years touring French vineyards, or kicking back on the porch with a cigar. Talk to one of our accomplished and skilled retirement planners today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Concord, 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 portfolios, asset management, 401(k)s or IRAs, and more.
Successful retirement planning should begin years before you leave the workforce. If the prospect of planning for an event still decades away is nerve-racking, or if you you don't have the abilities or time to actively manage a great retirement plan, give the Concord, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in Concord, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But not enough people in Concord, MO and throughout the country appreciate the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to data from the U.S. Department of Labor:
- Only half of Americans have calculated how much in savings will be required for retirement
- More than one-fourth of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends approximately two decades in retirement
Additional studies reported that over 75% of Americans have expressed anxiety that they have not saved enough to be financially independent in 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 consciously preparing for retirement, you should still get in touch with a retirement planning consultant in Concord, MO to see if there is anything you are missing, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNERS™ in Concord, MO 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 Concord, MO
Below are some of the most important steps to consider when beginning or fine-tuning your retirement planning:
- Don't wait to save
Most economists recommend starting retirement savings in your early 20s, as soon as you start working full time. While at any age you can start contributing to a retirement plan, you want the money to spend as much time collecting interest and growing from investments as possible.
- Understand your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to add a few more years onto your retirement? Or would you be happier working for a few extra years? Are you retiring soon, or do you still have more promotions and accolades to earn? A key understanding of your time horizon is essential when you need to define your risk tolerance and determine where you money is better off growing.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to the south of France, or prefer to be home as much as possible, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may not be able to be as adventurous or as comfortable as you were hoping.
- Balance your retirement goals with other priorities
While you should never underestimate the advantages of retirement planning as early as possible, do not forget about other financial issues in Concord, MO like paying down debt.
- 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 Concord, 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 have a job with a 401(k), wonder if their money might be best in an IRA, if they should carry out a 401(k) rollover, or are interested in alternative solutions. Depending on when you'll need to take the money out, tax liability, and more.
- Pay attention to estate planning
Estate planning ensures the people you care about most will be taken care of once you're gone. A dependable life insurance plan will also ensure your Concord, MO family's future is secure in the event that the unexpected happens.
- Hire professional retirement consultants
Like in any field, the experts know best. Qualified retirement consultants in Concord, MO, like those at Correct Capital, know how to assess your finances, identify any potential problem areas and optimize your savings plan; 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 Concord, MO retirement planning advisors at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Concord, MO include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Concord, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants give you 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 integrity to help you achieve the retirement of your dreams. If you want to make sure you're on the right track in Concord, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.