Retirement Planning in Fairview Heights, IL
Retirement Planning in Fairview Heights, IL. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Fairview Heights, IL residents who want to be comfortable in retirement but aren't sure 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 Fairview Heights, IL retirement planning consultant at Correct Capital are here to help you get from where you are to where you're headed; whether that means spending your retirement years snorkeling the coral gardens of Bora Bora, or kicking back on the porch with a cigar. Speak to one of our accomplished and knowledgeable financial planners today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in Fairview Heights, IL?
Retirement planning is one of the most important aspects 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.
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 challenging, or if you you don't have the abilities or time to optimize your savings, give the Fairview Heights, IL financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will get to know you and your finances personally and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Fairview Heights, IL
Americans are living longer than ever, which means retirement planning is becoming more and more important. But not enough people in Fairview Heights, IL and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to a recent study from the U.S. Department of Labor:
- Only half of adults in the United States have planned for how much they need to save for retirement
- More than 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
Additional studies noted that over three-quarters of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. While it can be tempting to delay retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to set up a sound retirement plan can have negative consequences for ourselves and our families. Even if you are responsibly putting money aside, it is likely best to get in touch with a retirement planning professional in Fairview Heights, IL to see if your plan could be improved, for instance evaluating tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNERS™ in Fairview Heights, IL are here to perform a thorough evaluation of your finances and to identify what is working well and what could be improved.
8 Steps to Successful Retirement Planning in Fairview Heights, IL
Below are some of the most important tips to consider no matter where you are in your retirement planning journey:
- Start saving early
Most economists recommend 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 putting money aside, the earlier you start contributing to a savings account the more your money will grow by the time you retire.
- Have a good grasp of your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to leave the workforce sooner than most? Or are you more content working and want to put off full retirement as long as possible? Are you a few years or a few decades away from retirement? when you know that, you will be able to 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 can't stop thinking about yearly trips to some of the world's most incredible landmarks, or prefer to be home as much as possible, 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 you should start saving when you're still far away from retirement, do not forget about other financial goals in Fairview Heights, IL 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.
- Choose the ideal retirement account(s) for you
Many Fairview Heights, IL residents are happy with their current 401(k) company. Others may not be offered a 401(k), wonder if their money might be best in an IRA, if they should perform 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 Fairview Heights, IL family's future is secure if something happens to you.
- Speak to professional retirement consultants
Like in any industry, there's no replacement for a professional. Professional retirement consultants in Fairview Heights, IL, like those at Correct Capital, know how to evaluate your finances, note any possible blind spots and see where you can improve; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your Fairview Heights, IL retirement planning consultants at Correct Capital will be working hard to ensure your hard work is paying off as much as it can.
Other services we offer in Fairview Heights, IL include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Fairview Heights, IL Retirement Planning | Correct Capital
At Correct Capital, our financial advisors always offer 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 tools, and morals to do what's best for you and only you. If want us to evaluate your current plan in in Fairview Heights, IL, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 314-930-401(k) or contact us online.
