Retirement Planning in Fenton, MO
Professional, Honest, and Accomplished Retirement Consultants and Financial Advisors
Retirement Planning in Fenton, MO. It's never a bad time to start coming up with a financial path to a happy and healthy retirement. Retirement planning can be an uphill battle for many Fenton, MO residents who understand the value of planning ahead but aren't sure if they're going to make it where they want to go. Whether you're interested in tweaking an existing plan or are looking to create an entirely new one, the Fenton, MO retirement planning consultant at Correct Capital will create a customized plan aimed at achieving your dreams; whether that means spending your retirement years snorkeling the coral gardens of Bora Bora, or helping raise the next generations. Talk to one of our accomplished and skilled retirement consultants today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in Fenton, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to prepare for your future life today by choosing the best investment options, asset management, 401(k)s, and more.
Successful retirement planning should begin years before you leave the workforce. If the idea of planning for an event still decades away is challenging, or if you you feel there just isn't enough time in the day to optimize your savings, give the Fenton, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will help you understand how we can merge your finances and goals and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Fenton, MO
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But too few people in Fenton, MO and beyond recognize how much good or bad retirement planning will determine the final quarter to a third. According to a recent study from the U.S. Department of Labor:
- Only about 50% of adults in the United States have thought about how much in savings will be required for retirement
- More than 25% of workers whose employers' offered a defined contribution plan such as a 401(k) did not put any money into it
- The average American lives for approximately 20 years
More research found that over three-quarters of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. While it can be tempting to put off retirement planning as more pressing concerns arise in our day-to-day lives, the truth is neglecting to set up a sound retirement plan can have negative consequences for ourselves and our families. Even if you are judicious in your savings, you should still get in touch with a retirement planning specialist in Fenton, MO to see if your savings plan has any blind spots, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Fenton, MO are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Steps to Productive Retirement Planning in Fenton, MO
Below are some key steps to consider no matter how much money you've saved:
- Don't wait to save
Most experts advise starting retirement savings young, as soon as you start working full time. While at any age you can start contributing to a retirement plan, 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 when you'll need to withdraw savings or sell investments. Would you like to start your golden years? Or are you more content working and want to put off full retirement as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? The answers to those questions and more will help define your risk tolerance and determine where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to exotic beaches, 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 be as venturesome or as relaxed as you were hoping.
- Don't forget about other priorities
While you should start saving as early as possible, you still need to be aware of other financial goals in Fenton, MO like paying down debt.
- 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 Fenton, 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 consider a 401(k) rollover, or have any of countless other doubts. Depending on your time horizon, certain tax considerations, and other factors.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your Fenton, MO family's future is secure in the event that the unexpected happens.
- Hire professional retirement consultants
Like in any field, the experts know best. Veteran retirement consultants in Fenton, MO, like those at Correct Capital, know how to analyze your finances, note any possible blind spots and make any necessary corrections; the same way a doctor may see something on an MRI that a patient might not.
While you're working hard to make a living and save for your retirement plan, your Fenton, MO retirement planning specialists at Correct Capital will be working hard to actively manage your account.
Other services we offer in Fenton, 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
- Social Security Consultants Near Me
- Retirement Calculator
Fenton, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors pride ourselves on 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 resources, and legal and moral imperative to only act in your best interest. If want us to evaluate your current plan in in Fenton, MO, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.