Retirement Planning in Eureka, MO
Retirement Planning in Eureka, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning can be an uphill battle for many Eureka, MO residents who know what they want their retirement years to look like but aren't confident they're really saving enough and investing it wisely. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the Eureka, MO retirement planning consultant at Correct Capital will create a bespoke plan aimed at accomplishing your dreams; whether your ideal retirement means touring French vineyards, or kicking back on the porch with a cigar. Speak to one of our accomplished and astute retirement planners today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Eureka, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate investment options, asset management, 401(k)s, and more.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a happy retirement. If the prospect of planning for an event decades into the future is challenging, 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 Eureka, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we help you understand how we can merge your finances and goals and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
Schedule a Meeting With an Advisor Today
Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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The Importance of Retirement Planning in Eureka, MO
Life expectancy in the United States is higher than ever, and more and more of us will need wise retirement planning in order to be comfortable and happy our golden years. But too few people in Eureka, MO and beyond 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 they need to save for retirement
- More than one-fourth of employees who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
- The average person in the United States lives for approximately two decades
More research found that over 75% of Americans are uncertain that they will not have enough for retirement. At some point, you'll go from a consistent inflow of 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 consultant in Eureka, MO to see if there is anything you are missing, for instance evaluating tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Eureka, MO are here to answer any questions and to identify areas of your savings that are safe and those that could use an upgrade.
8 Ways to Enhance Retirement Planning in Eureka, MO
Below are some key tips to consider no matter how much money you've saved:
- Start saving early
Most experts recommend starting retirement savings in your early 20s, 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.
- Decide on 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 retire early? Or would you be happier working as long as possible? Are you a few years or a few decades away from retirement? The answers to those questions and more will help define your risk tolerance and determine which types of savings account may be best for you.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to expensive travel destinations, or prefer to help raise the future generations of your family, your retirement plan can obviously vary significantly. If you don't understand your lifestyle goals, you may not have sufficient income to live the retirement you envisioned.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning as early as possible, do not forget about other financial issues in Eureka, MO like valuable real estate investments.
- 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 appropriate retirement account(s) for you
Many Eureka, 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 have employment with a 401(k), are considering moving the funds to an IRA, if they should look into a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- 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 ensure your Eureka, MO family's future is secure if something happens to you.
- Speak to professional retirement consultants
Like in any field, there's no replacement for a professional. Professional retirement consultants in Eureka, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any possible problem areas and optimize your savings plan; the same way a meteorologist can see weather patterns we can't.
While you're working hard to make a living and save for your retirement plan, your Eureka, MO retirement planning specialists at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Eureka, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Eureka, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners 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 insight, and legal and ethical imperative to do what's best for you and only you. If want us to evaluate your current plan in in Eureka, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
