Retirement Planning in Ellisville, MO
Retirement Planning in Ellisville, MO. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be an uphill battle for many Ellisville, MO residents who know that saving for retirement is important but aren't confident they're on the right track. Whether you're interested in modifying an existing plan or need to develop a plan, the Ellisville, MO retirement planning advisors at Correct Capital will create a bespoke plan aimed at accomplishing your dreams; whether that means spending your retirement years on cruise ships around Greek islands, or just spending some relaxing time in the garden. Speak to one of our seasoned and skilled retirement planners today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Ellisville, MO?
Retirement planning is an important facet 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 investment options, asset management, 401(k)s or IRAs, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you become a full-time worker. If the idea of planning for an event still decades away is nerve-racking, 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 Ellisville, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will get to know you and your finances personally and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Ellisville, MO
Americans are living longer than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But not enough people in Ellisville, MO and beyond recognize how large of an effect poor retirement planning could have on their lives. According to data from the U.S. Department of Labor:
- Only about 50% of Americans have calculated how much in savings will be required for retirement
- More than a quarter of workers with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. lives for roughly two decades
Additional studies reported that four-fifths of Americans are uncertain about their retirement funds. At some point, you'll go from acquiring money and assets, to only withdrawing money. Even if you are consciously preparing for retirement, it is likely best to consult with a retirement planning professional in Ellisville, 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 changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Ellisville, MO are here to perform a comprehensive evaluation of your finances and to identify how to best move forward with your savings.
8 Keys to Successful Retirement Planning in Ellisville, MO
Below are some of the most important tips to consider when beginning or fine-tuning your retirement planning:
- Start saving early
Most financial professionals suggest starting retirement savings as young as you can, as soon as you have left college or otherwise entered the professional sphere. While at any age you can 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.
- Understand your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to retire early? Or would you be happier working as long as possible? 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 how to optimize your savings.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to watch every Cardinals' game of the season, your income needs will be different. It's important to know the lifestyle you want in your retirement, or, you may not be able to live the retirement you dreamed of.
- Don't forget about other priorities
While you should start saving when you're young, do not forget about other financial goals in Ellisville, MO 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.
- Choose the appropriate retirement account(s) for you
Many Ellisville, 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 be offered a 401(k), wonder if their money might be best in an IRA, if they should conduct a 401(k) rollover, or have any of countless other doubts. Depending on when you'll need to take the money out, tax liability, and more.
- 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 dependable life insurance plan will also ensure your Ellisville, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any field, there's no replacement for a professional. Veteran retirement consultants in Ellisville, MO, like those at Correct Capital, know how to analyze the path you're currently on, diagnose any possible issues and make any necessary corrections; the same way a meteorologist can see weather patterns we can't.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Ellisville, MO retirement planning consultants 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 Ellisville, 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
Ellisville, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers give you 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 resources, and honesty to create a retirement plan that benefits you. If you'd like a retirement planning check-up in Ellisville, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
