Retirement Planning in Frontenac, MO
Professional, Honest, and Accomplished Retirement Consultants and Wealth Managers
Retirement Planning in Frontenac, MO. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Frontenac, MO residents who want to be comfortable in retirement but aren't sure if they're going to make it where they want to go. Whether you're interested in modifying an existing plan or are have just started saving, the Frontenac, MO retirement planning consultant at Correct Capital will create a bespoke plan aimed at realizing your dreams; whether your ideal retirement means snorkeling the coral gardens of Bora Bora, or kicking back on the porch with a cigar. Speak to one of our seasoned and knowledgeable wealth managers today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Frontenac, MO?
Retirement planning is an aspect of financial planning and wealth management that refers to financial strategies to meant to save for the future, like portfolios, asset management, savings plans, and more.
Successful retirement planning should begin years before you leave the workforce. If the prospect of planning for an event decades into the future is challenging, or if you you don't have the abilities or time to optimize your savings, give the Frontenac, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will take a close look at your finances and goals and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Frontenac, 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 Frontenac, MO and beyond appreciate how much good or bad retirement planning will determine the final 20%-33% of their lives. According to research from the U.S. Department of Labor:
- Only half of Americans have calculated how much they need to save for retirement
- Over 25% of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. spends approximately 20 years in retirement
Additional studies found that 80% of Americans are concerned about their retirement funds. While it can be tempting to delay retirement planning as more immediate concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have dire consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still consult with a retirement planning professional in Frontenac, MO to see if your savings plan has any blind spots, for instance analyzing 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 perform a thorough evaluation of your finances and to identify how to best move forward with your savings.
8 Keys to Productive Retirement Planning in Frontenac, MO
Below are some key steps to consider no matter how much money you've saved:
- Start saving early
Most economists recommend starting retirement savings as early as possible, as soon as you enter the workforce. While at any age you can start putting money aside, 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 an investment timeline based on when you want to retire. Would you like to start your golden years? Or would you be happier working for a few extra years? Are you retiring soon, or do you still have more promotions and accolades to earn? A key understanding of your time horizon is essential when you need to define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to expensive travel destinations, or prefer to be home as much as possible, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may not be able to be as adventurous or as comfortable as you were hoping.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're young, it's also likely not a good idea to avoid other financial priorities in Frontenac, MO like establishing an emergency fund.
- 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 Frontenac, 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 not have access to a 401(k), are considering transferring the funds to an IRA, if they should conduct a 401(k) rollover, or are interested in other savings plan options. Depending on how close you are to retirement, certain tax considerations, and more.
- Don't forget about 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 Frontenac, MO family's future is secure if the tragic happens.
- Seek the services of professional retirement consultants
Like in any sphere, the experts know best. 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 locate any potential issues and optimize your savings plan; the same way a chiropractor can notice issues with your alignment.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Frontenac, MO retirement planning specialists at Correct Capital will be working hard to rebalance your portfolio in the interest of keeping your money and savings performing for you.
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
- Small Business Retirement Plans
- Tax Planning
- Social Security Consultants Near Me
- Retirement Calculator
Frontenac, 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 insight, and integrity to help you achieve the retirement of your dreams. 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 314-930-401(k) or contact us online.