Retirement Planning in Edwardsville, IL
Retirement Planning in Edwardsville, IL. It's never too early — or too late — to start coming up with a financial path to the retirement of your dreams. Retirement planning can be an uphill battle for many Edwardsville, IL residents who know what they want their retirement years to look like but aren't sure if they're on the right track. Whether you're interested in tweaking an existing plan or need to develop a plan, the Edwardsville, IL retirement planning consultant at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be snorkeling the coral gardens of Bora Bora, or kicking back on the porch with a cigar. Speak to one of our experienced and knowledgeable financial planners today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Edwardsville, IL?
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 stock options, asset management, 401(k)s, and more.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a relaxing retirement. If the prospect of planning for an event still decades away is daunting, or if you you feel there just isn't enough time in the day to stay on top of market trends and familiarize yourself with financial law and lingo, give the Edwardsville, IL financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in Edwardsville, IL
Americans are living longer 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 Edwardsville, IL and throughout the country appreciate how large of an effect poor retirement planning could have on their lives. According to reporting from the U.S. Department of Labor:
- Only half of adults in the United States have calculated how much they need to save for retirement
- Over 25% of workers who were able to contribute to defined contribution plan such as a 401(k) did not add any savings to it
- The average American spends approximately two decades in retirement
Additional studies found that four-fifths of Americans are uncertain 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 set up a sound retirement plan can have negative consequences for ourselves and our families. Even if you are dutifully putting money aside, it is likely best to consult with a retirement planning professional in Edwardsville, IL to see if your plan could be improved, for instance analyzing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Edwardsville, IL are here to offer comprehensive consultations and to identify how to best move forward with your savings.
8 Ways to Enhance Retirement Planning in Edwardsville, IL
Below are some of the most important steps to follow no matter where you are in your retirement planning journey:
- Start saving early
Most experts suggest starting retirement savings young, as soon as you start working full time. While at any age you can start saving, 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 add a few more years onto your retirement? Or are you more content working and want to put off full retirement as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? A key understanding of your time horizon is essential when you need to define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to the south of France, or prefer to watch every Cardinals' game of the season, your retirement plan can obviously vary drastically. It's imperative to know how you'd like to live out your golden years, or, you may find you do not have enough to live the retirement you dreamed of.
- Don't forget about other priorities
While you should never underestimate the advantages of retirement planning as early as possible, do not forget about other financial goals in Edwardsville, IL like establishing an emergency fund.
- 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 ideal retirement account(s) for you
Many Edwardsville, IL 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 consider a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your Edwardsville, IL family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in Edwardsville, IL, like those at Correct Capital, know how to analyze the path you're currently on, note any possible problem areas and see where you can improve; the same way a dentist can notice cavities we don't.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Edwardsville, IL retirement planning specialists at Correct Capital will be working hard to actively manage your account.
Other services we offer in Edwardsville, IL 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
Edwardsville, IL Retirement Planning | Correct Capital
At Correct Capital, our financial advisors give you 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 integrity to help you achieve the retirement of your dreams. If you want to make sure you're on the right track in Edwardsville, IL, 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.
