Retirement Planning in Cottleville, MO
Retirement Planning in Cottleville, MO. It's never too early — or too late — to start planning for your golden years. Retirement planning can be daunting for many Cottleville, MO residents who know that saving for retirement is important but aren't confident they're really saving enough and investing it wisely. Whether you're interested in modifying an existing plan or are looking to create an entirely new one, the Cottleville, MO retirement planning advisors at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years on the sandy white beaches of the British Virgin Islands, or just spending some relaxing time in the garden. Speak to one of our experienced and skilled retirement consultants today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Cottleville, MO?
Retirement planning is an aspect 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.
In a best case scenario, you would start saving and planning for retirement from the moment you receive your first paycheck. If the idea of planning for an event decades into the future is challenging, or if you you don't have the abilities or time to stay on top of market trends and familiarize yourself with financial law and lingo, give the Cottleville, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we get to know you and your finances personally and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in Cottleville, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But not enough people in Cottleville, MO and beyond appreciate 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 about 50% of adults in the United States have considered how much income they will need in retirement
- More than a quarter of employees who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends roughly two decades in retirement
Another survey reported that four-fifths of Americans are anxious that they will not have enough for 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 neglecting 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, it is likely best to get in touch with a retirement planning professional in Cottleville, 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 Cottleville, 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 Tips to Productive Retirement Planning in Cottleville, MO
Below are some of the most important steps to contemplate no matter how close you are to retirement:
- Start saving early
Most financial professionals advise starting retirement savings in your early 20s, as soon as you get your first paycheck. While at any age you can start contributing to a retirement plan, you want the money to grow for as much time as possible.
- Have a good grasp of your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to retire early? Or would you be happier working as long as possible? 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 how to optimize your savings.
- Understand your lifestyle goals for retirement
If you can't stop thinking about yearly trips to the south of France, or prefer to watch all 162 Cardinals' games, your income needs will be different. If you don't understand your lifestyle goals, you may not have sufficient income to be as venturesome or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While you should start saving when you're young, you still need to be aware of other financial issues in Cottleville, 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 Cottleville, 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 conduct a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also ensure your Cottleville, MO family's future is secure if something happens to you.
- Hire professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in Cottleville, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and identify any possible issues and optimize your savings plan; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're busy earning money for your retirement plan, your Cottleville, 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 Cottleville, 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
Cottleville, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants always offer 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 analytics, and honesty to do what's best for you and only you. If want us to evaluate your current plan in in Cottleville, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 877-930-4015 or contact us online.
