Retirement Planning in Frontenac, MO
Retirement Planning in Frontenac, MO. It's never a bad time to start planning for the retirement of your dreams. Retirement planning can be an uphill battle for many Frontenac, MO residents who know what they want their retirement years to look like but aren't sure they're really saving enough and investing it wisely. Whether you're interested in fine-tuning an existing plan or are looking to create an entirely new one, the Frontenac, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be touring French vineyards, or just spending some quality time in the garden. Talk to one of our accomplished and knowledgeable wealth managers today by calling 877-930-4015 or by contacting us online.
What is Retirement Planning in Frontenac, 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, savings plans, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event still decades away is nerve-racking, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Frontenac, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will 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.
The Importance of Retirement Planning in Frontenac, MO
Americans are living longer than ever, and more and more of us will need wise retirement planning in order to live the lifestyle we want in our golden years. But too few people in Frontenac, MO and throughout the country recognize the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to research from the U.S. Department of Labor:
- Only half of adults in the United States have calculated how much income they will need in retirement
- Over a quarter of workers with access to 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 noted that four-fifths 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 for future generations. Even if you are judicious in your savings, it is likely best to consult with a retirement planning consultant in Frontenac, MO 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 moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Frontenac, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Ways to Improve Retirement Planning in Frontenac, MO
Below are some key tips to contemplate no matter how close you are to retirement:
- Start saving early
Most experts recommend starting retirement savings as early as you can, as soon as you enter the workforce. While even if you are closer to retirement you can still start putting money aside, you want the money to grow for as much time as possible.
- Decide on your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to add a few more years onto your retirement? 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? A key understanding of your time horizon is imperative when you need 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 expensive travel destinations, or prefer to help raise the future generations of your family, your retirement planning needs will be different. 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.
- Balance your retirement goals with other priorities
While you should start saving as early as possible, you still need to be aware of other financial priorities in Frontenac, 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.
- Choose the appropriate retirement account(s) for you
Many Frontenac, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering transferring the funds to an IRA, if they should look into a 401(k) rollover, or are interested in other savings plan options. Depending on your age, tax liability, and more.
- 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 protect your Frontenac, MO family if something happens to you.
- Speak to professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in Frontenac, 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 blind spots and see where you can improve; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're busy earning money for your retirement plan, your Frontenac, MO retirement planning advisors at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Frontenac, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
Frontenac, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers pride ourselves on 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 morals to do what's best for you and only you. If want us to evaluate your current plan in in Frontenac, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
