Retirement Planning in Crestwood, MO
Retirement Planning in Crestwood, MO. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning can be daunting for many Crestwood, MO residents who know what they want their retirement years to look like but aren't sure they're going to make it where they want to go. Whether you're interested in a second opinion on an existing plan or need to develop a plan, the Crestwood, MO retirement planning advisors at Correct Capital are here to help get you where you want to go; whether your ideal retirement means on first-class flights to Lake Como, or kicking back on the porch with a cigar. Talk to one of our experienced and astute financial planners today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in Crestwood, MO?
Retirement planning is an important facet of financial planning and wealth management that refers to financial strategies to meant to save for the future, like portfolios, asset management, savings plans, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event decades into the future is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Crestwood, MO financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we help you understand how we can merge your finances and goals and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Crestwood, MO
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are set up 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 data from the U.S. Department of Labor:
- Only about 50% of adults in the United States have thought about how much in savings will be required for retirement
- More than 25% of workers whose employers' offered a 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
More research found 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 set up a meeting with a retirement planning professional in Crestwood, 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 moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Crestwood, MO are here to answer any questions and to identify what is working well and what could be improved.
8 Tips to Successful Retirement Planning in Crestwood, MO
Below are some of the most important tips to follow no matter where you are in your retirement planning journey:
- Start saving early
Most experts advise starting retirement savings as early as you can, as soon as you have left college or otherwise entered the professional sphere. While it's never too late to start contributing to a retirement plan, 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 retire early? Or would you be happier working as long as possible? Are you 5, 15, or 30 years away from retirement? The answers to those questions and more will help define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to the south of France, or prefer to help raise the future generations of your family, your retirement plan can obviously vary considerably. It's important to have a clear understanding of how you'd like to live out your retirement, or, you may not be able to be as venturesome or as comfortable as you were hoping.
- Don't forget about other priorities
While you should start saving when you're still far away from retirement, do not forget about other financial priorities 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 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), 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. Depending on your time horizon, certain tax considerations, and more.
- 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 Crestwood, MO family's future is secure if the tragic happens.
- Hire professional retirement consultants
Like in any industry, the experts know best. Qualified retirement consultants in Crestwood, 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 problem areas and see where you can improve; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're focusing on working hard to accumulate the funds needed 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:
- 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
Crestwood, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners 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 tools, and legal and ethical imperative to only act in your best interest. If you want to make sure you're on the right track in Crestwood, MO, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.
