Retirement Planning in Des Peres, MO
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 is a necessary but sometimes perplexing topic for many Des Peres, MO residents who know that saving for retirement is important but aren't sure they're on the right track. Whether you already have a plan and want insight as to how it's performing or are have just started saving, the Des Peres, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at accomplishing your dreams; whether that means spending your retirement years as a frequent flyer to Hawaii, or kicking back on the porch with a cigar. Speak to one of our accomplished and skilled wealth managers today by calling 877-930-4015 or by contacting us online.
What is Retirement Planning in Des Peres, MO?
Retirement planning is an integral part of of financial planning and wealth management that refers to financial strategies to meant to save for the future, like investment options, asset management, savings plans, 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 still decades away is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the Des Peres, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will take a close look at your finances and goals 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, 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 Des Peres, MO and throughout the country 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 half of adults in the United States have calculated how much in savings will be required for retirement
- Over a quarter of employees with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average American spends roughly two decades in retirement
Another survey reported 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 acquiring money and assets, to taking money out of your savings rather than putting them in. Even if you are consciously preparing for retirement, it is likely best to set up a meeting with a retirement planning specialist in Des Peres, MO to see if there is anything you are missing, for instance assessing 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 crucial steps to consider no matter where you are in your retirement planning journey:
- Start saving early
Most financial professionals recommend starting retirement savings in your early 20s, as soon as you start working full time. While even if you are closer to retirement you can still start contributing to a retirement plan, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.
- Decide on 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 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 what kind of life you want to live in retirement
If you have always envisioned yearly trips to expensive travel destinations, or prefer to watch every Cardinals' game of the season, your retirement plan can obviously vary considerably. It's important to know the lifestyle you want in your golden years, or, you may not have sufficient income to live the retirement you envisioned.
- Don't forget about other priorities
While you should start saving when you're young, you still need to be aware of other financial priorities in Des Peres, 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 best retirement account(s) for you
Many Des Peres, 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), are considering transferring the funds to an IRA, if they should conduct a 401(k) rollover, or are interested in alternative solutions. Depending on how close you are to retirement, certain tax considerations, and other factors.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A dependable 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. Professional 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 locate any possible issues and make any necessary adjustments; the same way a dentist can notice cavities we don't.
While you're working hard to make a living and save for your retirement plan, your Des Peres, MO retirement planning advisors at Correct Capital will be working hard to ensure your hard work is paying off as much as it can.
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
Des Peres, 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 legal and ethical imperative to create a retirement plan that benefits you. If you want to make sure you're on the right track in Des Peres, MO, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 877-930-4015 or contact us online.
