Retirement Planning in Kirkwood, MO
Retirement Planning in Kirkwood, MO. It's never a bad time to start coming up with a financial path to your golden years. Retirement planning is a necessary but sometimes mysterious subject for many Kirkwood, MO residents who know what they want their retirement years to look like but aren't sure they're headed in the right direction. 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 Kirkwood, MO retirement planning consultant at Correct Capital are here to help get you where you want to go; whether your ideal retirement means as a frequent flyer to Hawaii, or perfecting your crossword skills. Talk to one of our seasoned and skilled retirement planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Kirkwood, 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 stock 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 decades into the future 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 Kirkwood, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we take a close look at your finances and goals and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in Kirkwood, MO
Americans are living longer than ever, and more and more of us will need judicious retirement planning in order to be comfortable and happy our golden years. But not enough people in Kirkwood, MO and beyond recognize how large of an effect poor retirement planning could have on their lives. According to a recent study from the U.S. Department of Labor:
- Only half of adults in the United States have calculated how much they need to save for retirement
- Over one-fourth of employees with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average worker in the U.S. spends about 20 years in retirement
More research noted that four-fifths of Americans are worried that they will not have enough for retirement. At some point, you'll go from acquiring money and assets, to taking money out of your savings rather than putting them in. Even if you are dutifully putting money aside, it is likely best to set up a meeting with a retirement planning consultant in Kirkwood, MO to see if there is anything you are missing, for instance assessing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Kirkwood, MO are here to perform a comprehensive evaluation of your finances and to identify areas of your savings that are secure and those that could use improvement.
8 Ways to Improve Retirement Planning in Kirkwood, MO
Below are some vital steps to contemplate no matter where you are in your retirement planning journey:
- Start saving early
Most financial professionals advise starting retirement savings in your early 20s, as soon as you get your first paycheck. While it's never too late to start saving, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.
- 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 would you be happier working for a few more years? Are you 5, 15, or 30 years away from retirement? A key understanding of your time horizon is essential when you need to define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to expensive travel destinations, or prefer to watch every Cardinals' game of the season, your income needs will be different. It's imperative to know the lifestyle you want in your golden years, or, 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, do not forget about other financial goals in Kirkwood, 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 Kirkwood, 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 be offered a 401(k), are considering moving the funds to an IRA, if they should consider a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A dependable life insurance plan will also safeguard your Kirkwood, MO family if the tragic happens.
- Speak to professional retirement consultants
Like in any sphere, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in Kirkwood, 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 issues 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 Kirkwood, MO retirement planning advisors 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 Kirkwood, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Kirkwood, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers always offer 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 honesty to do what's best for you and only you. If you want to make sure you're on the right track in Kirkwood, 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.
