Retirement Planning in Jefferson County, MO
Retirement Planning in Jefferson County, MO. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be an uphill battle for many Jefferson County, MO residents who want to be comfortable in retirement but aren't confident 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 are looking to create an entirely new one, the Jefferson County, MO retirement planning advisors at Correct Capital will create a personalized plan aimed at achieving your dreams; whether you want to be on first-class flights to Lake Como, or perfecting your crossword skills. Talk to one of our experienced and skilled financial planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Jefferson County, MO?
Retirement planning is an aspect of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate stock options, asset management, 401(k)s or IRAs, and more.
Retirement planning, ideally, starts from the moment you get your first paycheck and continues into a happy retirement. If the prospect of planning for an event still decades away is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Jefferson County, 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 help you determine a retirement plan that works best for you.
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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.
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The Importance of Retirement Planning in Jefferson County, 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 not enough people in Jefferson County, 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 half of adults in the United States have planned for how much in savings will be required for retirement
- Over 25% of workers who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends about 20 years in retirement
More research noted that 80% of Americans are worried that they will not have enough for retirement. At some point, you'll go from acquiring money and assets, to only withdrawing money. Even if you are judicious in your savings, it is likely best to consult with a retirement planning consultant in Jefferson County, MO to see if your plan could be improved, for instance assessing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Jefferson County, MO are here to answer any questions and to identify areas of your savings that are safe and those that could use an upgrade.
8 Ways to Upgrade Retirement Planning in Jefferson County, MO
Below are some of the most important tips to follow no matter where you are in your retirement planning journey:
- Don't wait to save
Most experts recommend starting retirement savings as early as possible, as soon as you enter the workforce. While it's never too late to start saving, the earlier you start contributing to a savings account the more your money will grow by the time you retire.
- Understand your time horizon
Your time horizon refers to when you'll need to access savings or sell investments. Would you like to retire early? Or are you more content working and want to put off full retirement for a few extra years? Are you 5, 15, or 30 years away from retirement? The answers to those questions and more will help define your risk tolerance and determine which types of savings account may be best for you.
- 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 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.
- Balance your retirement goals with other priorities
While it's always a good idea to prioritize retirement planning when you're young, you still need to be aware of other financial issues in Jefferson County, 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 ideal retirement account(s) for you
Many Jefferson County, 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 are interested in other savings plan options. Depending on how close you are to retirement, certain tax considerations, 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 Jefferson County, MO family's future is secure if the tragic happens.
- Seek the services of professional retirement consultants
Like in any sphere, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in Jefferson County, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any potential blind spots and make any necessary corrections; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your Jefferson County, MO retirement planning advisors 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 Jefferson County, MO include:
Jefferson County, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners give you 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 tools, and legal and ethical imperative to do what's best for you and only you. If want us to evaluate your current plan in in Jefferson County, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 877-930-4015 or contact us online.
