Retirement Planning in Des Peres, MO
Professional, Honest, and Accomplished Retirement Consultants and Financial Advisors
Retirement Planning in Des Peres, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Des Peres, MO residents who want to be comfortable in retirement but aren't sure they're headed in the right direction. Whether you're interested in modifying an existing plan or are looking to create an entirely new one, the Des Peres, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at attaining your dreams; whether you want to be snorkeling the coral gardens of Bora Bora, or just spending some quality time in the garden. Speak to one of our experienced and astute retirement consultants today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in Des Peres, MO?
Retirement planning is an aspect of financial planning and wealth management that sets goals for your retirement income and lifestyle and developes a sound strategy to get there, which includes portfolios, asset management, 401(k)s, 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 prospect of planning for an event still decades away is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Des Peres, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will get to know you and your finances personally and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Des Peres, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But too few people in Des Peres, MO and throughout the country recognize the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to a recent study from the U.S. Department of Labor:
- Only half of Americans have calculated how much in savings will be required for retirement
- More than 25% of workers with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average American lives for approximately 20 years
Additional studies found that over three-quarters 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 acquiring money and assets, to going through them. Even if you are judicious in your savings, it is likely best to reach out to a retirement planning specialist in Des Peres, MO to see if your savings plan has any blind spots, 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 Des Peres, MO are here to answer any questions and to identify what is working well and what could be improved.
8 Ways to Upgrade Retirement Planning in Des Peres, MO
Below are some key tips to abide by no matter where you are in your retirement planning journey:
- Start saving early
Most financial professionals suggest starting retirement savings as early as possible, as soon as you enter the workforce. While at any age you can start saving, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.
- Have a good grasp of your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to add a few more years onto your retirement? Or are you more content working and want to delay full retirement for a few extra years? Are you 5, 15, or 30 years away from retirement? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine which types of savings account may be best for you.
- Understand what kind of life you want to live in retirement
If you can't stop thinking about yearly trips to expensive travel destinations, or prefer to finally be able to sit back and relax, your retirement plan can obviously vary considerably. It's important to know how you'd like to live out your retirement, or, you may not have sufficient income to live the retirement you envisioned.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're young, you still need to be aware of other financial goals in Des Peres, MO like protecting your family and assets with proper insurance.
- 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 Des Peres, 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 perform a 401(k) rollover, or are interested in alternative solutions. 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 sound life insurance plan will also ensure your Des Peres, MO family's future is secure if the tragic happens.
- Seek the services of professional retirement consultants
Like in any industry, the experts know best. Qualified retirement consultants in Des Peres, 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 blind spots and optimize your savings plan; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your Des Peres, 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 Des Peres, 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
- Retirement Calculator
Des Peres, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers always offer 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 analytics, and honesty to create a retirement plan that benefits you. If you'd like a retirement planning check-up in Des Peres, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.