Retirement Planning in Edwardsville, IL

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Retirement Planning in Edwardsville, IL. It's never too early — or too late — to start saving for a happy and healthy retirement. Retirement planning can be an uphill battle for many Edwardsville, IL residents who want to be comfortable in retirement but don't know if 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 Edwardsville, IL retirement planning advisors at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years in Tuscan villas, or just spending some quality time in the garden. Talk to one of our accomplished and skilled wealth managers today by calling 314-930-401K or by getting in touch with us online.

What is Retirement Planning in Edwardsville, IL?

Retirement planning is one of the most important aspects of financial planning and wealth management that refers to financial strategies to meant to save for the future, like stock options, 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 decades into the future is challenging, or if you you don't have the abilities or time to actively manage a great retirement plan, give the Edwardsville, IL financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we take a close look at your finances and goals 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

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 too few people in Edwardsville, IL and throughout the country appreciate how much good or bad retirement planning will determine the final 20%-33% of their lives. According to reporting from the U.S. Department of Labor:

  • Only about 50% 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 contribute to it
  • The average American spends roughly 20 years in retirement

More research reported that over 75% of Americans are anxious about their retirement funds. 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, you should still consult with a retirement planning specialist in Edwardsville, IL to see if your plan could be improved, for instance analyzing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNERS™ in Edwardsville, IL are here to answer any questions and to identify how to best position your savings.

Retirement Planning Edwardsville, IL | Financial Advisors | Retirement Consultants Near Edwardsville

8 Ways to Upgrade Retirement Planning in Edwardsville, IL

Below are some crucial tips to follow no matter how close you are to retirement:

  1. Start saving early

    Most experts suggest starting retirement savings as young as you can, as soon as you get your first paycheck. While even if you are closer to retirement you can still start saving, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.

  2. Understand 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 more years? Are you retiring soon, or do you still have more promotions and accolades to earn? when you know that, you will be able to define your risk tolerance and determine where you money is better off growing.

  3. Understand your lifestyle goals for retirement

    If you have always envisioned yearly trips to expensive travel destinations, or prefer to be home as much as possible, your income needs will be different. It's imperative to know how you'd like to live out your retirement, or, you may not have sufficient income to be as venturesome or as comfortable as you were hoping.

  4. Balance your retirement goals with 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 issues in Edwardsville, IL like paying down debt.

  5. 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.

  6. Choose the ideal retirement account(s) for you

    Many Edwardsville, IL 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 be offered a 401(k), wonder if their money might be best in an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Depending on your age, tax liability, and other factors.

  7. Remember estate planning

    Estate planning ensures the people you care about most will be taken care of once you're gone. A good life insurance plan will also safeguard your Edwardsville, IL family if something happens to you.

  8. Hire professional retirement consultants

    Like in any industry, the experts know best. Professional retirement consultants in Edwardsville, IL, 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 make any necessary corrections; 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 Edwardsville, IL retirement planning advisors at Correct Capital will be working hard to ensure your hard work is not being wasted.

Other services we offer in Edwardsville, IL include:

Retirement Planning Edwardsville, IL | Financial Advisors | Retirement Consultants Near Edwardsville

Edwardsville, IL Retirement Planning | Correct Capital

At Correct Capital, our wealth managers give you 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 analytics, and legal and moral imperative to create a retirement plan that benefits you. If you want to make sure you're on the right track in Edwardsville, IL, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.

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