Retirement Planning in Fenton, MO
Retirement Planning in Fenton, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning is a necessary but sometimes confusing topic for many Fenton, MO residents who know that saving for retirement is important but aren't sure they're going to make it where they want to go. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the Fenton, MO retirement planning advisors at Correct Capital are here to help get you where you want to go; whether you want to be snorkeling the coral gardens of Bora Bora, or perfecting your crossword skills. Speak to one of our experienced and astute retirement planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Fenton, MO?
Retirement planning is an integral part of 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 prospect 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 Fenton, MO financial advisors at Correct Capital a call at 877-930-4015. When you hire our retirement planning services, we get to know you and your finances personally and give you objective and unbiased advice 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.
Schedule a 15-Minute Introductory Call
More From Correct Capital Wealth Management
Explore how Correct Capital Wealth Management can help guide you toward smarter decisions, clearer goals, and lasting financial success.
Subscribe To Our Newsletter Listen To Our Podcast Watch Our YouTube Channel
The Importance of Retirement Planning in Fenton, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But not enough people in Fenton, MO and throughout the country understand 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 Americans have considered how much income they will need in 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 person in the United States spends roughly two decades in retirement
More research found that 80% of Americans are worried that they will not have enough for 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 dire consequences for ourselves and for future generations. Even if you are consciously preparing for retirement, you should still set up a meeting with a retirement planning professional in Fenton, 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 deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Fenton, MO are here to perform a thorough evaluation of your finances and to identify what is working well and what could be improved.
8 Tips to Productive Retirement Planning in Fenton, MO
Below are some of the most important steps to consider no matter how much money you've saved:
- Don't wait to save
Most financial professionals advise starting retirement savings as early as you can, as soon as you enter the workforce. While it's never too late to start contributing to a retirement plan, you want the money to spend as much time collecting interest and growing from investments as possible.
- 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 add a few more years onto your retirement? Or are you more content working and want to avoid full retirement for a few extra years? 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 how to optimize your savings.
- Understand your lifestyle goals for retirement
If you can't stop thinking about yearly trips to expensive travel destinations, or prefer to finally be able to sit back and relax, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may not have sufficient income to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should start saving when you're still far away from retirement, you still need to be aware of other financial goals in Fenton, 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 ideal 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), 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. Depending on how close you are to retirement, tax liability, and other factors.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also ensure your Fenton, MO family's future is secure if something happens to you.
- Seek the services of professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in Fenton, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and diagnose any potential problem areas and make any necessary adjustments; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your Fenton, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in Fenton, MO include:
Fenton, 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 morals to help you achieve the retirement of your dreams. If you want to make sure you're on the right track in Fenton, MO, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 877-930-4015 or contact us online.
