Retirement Planning in Concord, MO
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 can be daunting for many Concord, MO residents who know what they want their retirement years to look like but aren't sure they're really saving enough and investing it wisely. Whether you're interested in a second opinion on an existing plan or are looking to create an entirely new one, the Concord, MO retirement planning specialists at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years on cruise ships around Greek islands, or kicking back on the porch with a cigar. Speak to one of our experienced and skilled wealth managers today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Concord, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to prepare for your future life today by choosing the best 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 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 Concord, MO financial advisors at Correct Capital a call at 877-930-4015. When you hire our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Concord, MO
Americans are living longer than ever, and more and more of us will need judicious retirement planning in order to live the lifestyle we want in our golden years. But too few people in Concord, MO and throughout the country appreciate 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 half of Americans have thought about how much they need to save for retirement
- Over 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 roughly two decades in retirement
Another survey noted that over three-quarters of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. While it can be tempting to put off 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 our families. Even if you are judicious in your savings, it is likely best to set up a meeting with a retirement planning specialist in Concord, MO to see if your plan could be improved, for instance assessing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Concord, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Steps to Productive Retirement Planning in Concord, MO
Below are some key steps to follow no matter where you are in your retirement planning journey:
- Don't wait to save
Most experts advise starting retirement savings young, as soon as you have left college or otherwise entered the professional sphere. While it's never too late to start saving, the earlier you start saving the more your money will grow by the time you retire.
- Have a good grasp of 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 would you be happier working as long as possible? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is crucial when you need to define your risk tolerance and determine where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to expensive travel destinations, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary significantly. If you don't understand your lifestyle goals, 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 start saving when you're still far away from retirement, it's also likely not a good idea to avoid other financial issues in Concord, 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 ideal retirement account(s) for you
Many Concord, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), wonder if their money might be best in an IRA, if they should perform 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 ensure your Concord, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any industry, the experts know best. Accomplished retirement consultants in Concord, MO, like those at Correct Capital, know how to assess your finances, identify any potential issues and make any necessary corrections; the same way a doctor may see something on an MRI that a patient might not.
While you're working hard to make a living and save for your retirement plan, your Concord, MO retirement planning specialists at Correct Capital will be working hard to ensure your hard work is not being wasted.
Other services we offer in Concord, 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
Concord, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors always offer 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 resources, and integrity to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Concord, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
