Retirement Planning in Edwardsville, IL
Retirement Planning in Edwardsville, IL. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning is a necessary but sometimes confusing topic for many Edwardsville, IL residents who know that saving for retirement is important but aren't sure if they're headed in the right direction. Whether you already have a plan and want insight as to how it's performing or are have just started saving, the Edwardsville, IL retirement planning advisors at Correct Capital will create a customized plan aimed at achieving your dreams; whether you want to be on first-class flights to Lake Como, or just spending some quality time in the garden. Talk to one of our accomplished and astute retirement planners today by calling 314-930-4015 or by getting in touch with us online.
What is Retirement Planning in Edwardsville, IL?
Retirement planning is an integral part of 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, savings plans, and more.
Retirement planning, ideally, starts from the moment you get your first paycheck and continues into a relaxing retirement. If the prospect of planning for an event still decades away is nerve-racking, or if you simply don't have the time, knowledge, or interest to feel like you can 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 314-930-4015. When you hire our retirement planning services, we get to know you and your finances personally 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 beyond understand 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 planned for how much income they will need in retirement
- More than one-fourth of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States lives for about two decades
Another survey reported that four-fifths of Americans lack retirement planning knowledge. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is neglecting to set up a sound retirement plan can have dire consequences for ourselves and our families. Even if you are judicious in your savings, it is likely best to reach out to a retirement planning specialist in Edwardsville, IL to see if your money is set up as well as it can be for long-term growth, for instance evaluating 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 answer any questions and to identify what is working well and what could be improved.
8 Ways to Upgrade Retirement Planning in Edwardsville, IL
Below are some key tips to consider no matter where you are in your retirement planning journey:
- Don't wait to save
Most financial professionals recommend starting retirement savings young, as soon as you enter the workforce. While even if you are closer to retirement you can still start contributing to a retirement plan, the earlier you start saving the more your money will grow by the time you retire.
- 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 leave the workforce sooner than most? Or are you more content working and want to put off full retirement for a few more years? Are you retiring soon, or several decades down the line? when you know that, you will be able to define your risk tolerance and determine how to best position your savings.
- Understand your lifestyle goals for retirement
If you can't stop thinking about yearly trips to expensive travel destinations, or prefer to help raise the future generations of your family, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may find you do not have enough to be as adventurous or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never undervalue the benefits of retirement planning as early as possible, do not forget about other financial priorities in Edwardsville, IL like savings for your children's college education.
- 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 Edwardsville, IL residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering transferring the savings to an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- Remember estate planning
Estate planning ensures you'll leave a legacy for latter generations and anyone else you'd like to include in your will. A good life insurance plan will also protect your Edwardsville, IL family if the tragic happens.
- Seek the services of professional retirement consultants
Like in any sphere, 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 assess your finances, identify any potential issues and make any necessary corrections; 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 consultants 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
- Social Security Consultants Near Me
Edwardsville, IL Retirement Planning | Correct Capital
At Correct Capital, our financial planners always offer 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 tools, and morals to only act in your best interest. If want us to evaluate your current plan in in Edwardsville, IL, or want to implement a plan for the first time, call Correct Capital today at 314-930-4015 or contact us online.
