Retirement Planning in Crestwood, MO
Retirement Planning in Crestwood, MO. It's never too early — or too late — to start planning for the retirement of your dreams. Retirement planning is a necessary but sometimes confusing subject for many Crestwood, MO residents who know that saving for retirement is important but aren't sure if they're headed in the right direction. Whether you're interested in modifying an existing plan or are have just started saving, the Crestwood, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether your ideal retirement means in Tuscan villas, or helping raise the next generations. Talk to one of our experienced and skilled financial advisors today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Crestwood, 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.
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 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 Crestwood, MO financial advisors at Correct Capital a call at 877-930-4015. When you hire our retirement planning services, we get to know you and your finances personally and help you determine a retirement plan that works best for you.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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The Importance of Retirement Planning in Crestwood, MO
Americans are living longer than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But not enough people in Crestwood, MO and beyond understand how large of an effect poor retirement planning could have on their lives. According to reporting from the U.S. Department of Labor:
- Only about 50% of Americans have thought about how much income they will need in retirement
- Over a quarter of employees with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. lives for about two decades
Another survey reported that over 75% of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are judicious in your savings, it is likely best to get in touch with a retirement planning consultant in Crestwood, MO to see if your plan could be improved, for instance evaluating 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 PLANNER™ professionals in Crestwood, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Steps to Productive Retirement Planning in Crestwood, MO
Below are some of the most important steps to contemplate no matter how close you are to retirement:
- Start saving early
Most economists advise starting retirement savings as early as you can, as soon as you start working full time. While even if you are closer to retirement you can still start putting money aside, you want the money to spend as much time collecting interest and growing from investments as possible.
- 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 add a few more years onto your retirement? Or would you be happier working for a few extra 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 how to best position your savings.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to exotic beaches, or prefer to finally be able to sit back and relax, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may not have sufficient income to be as venturesome or as comfortable as you were hoping.
- Balance your retirement goals with other priorities
While it's always a good idea to prioritize retirement planning when you're young, do not forget about other financial goals in Crestwood, 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.
- Choose the ideal retirement account(s) for you
Many Crestwood, 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 conduct 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 the people you care about most will be taken care of once you're gone. A dependable life insurance plan will also safeguard your Crestwood, MO family if something happens to you.
- Speak to professional retirement consultants
Like in any industry, the experts know best. Accomplished retirement consultants in Crestwood, MO, like those at Correct Capital, know how to analyze the path you're currently on, locate any potential problem areas and note potential areas for more growth; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your Crestwood, 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 Crestwood, MO include:
Crestwood, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners pride ourselves on 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 tools, and integrity to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Crestwood, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
