Retirement Planning in Lake St. Louis, MO

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Retirement Planning in Lake St. Louis, MO. It's never too early — or too late — to start planning for a happy and healthy retirement. Retirement planning is a necessary but sometimes confusing topic for many Lake St. Louis, MO residents who understand the value of planning ahead but aren't confident they're headed in the right direction. Whether you're interested in tweaking an existing plan or are looking to create an entirely new one, the Lake St. Louis, MO retirement planning specialists at Correct Capital will create a personalized plan aimed at realizing your dreams; whether your ideal retirement means on the sandy white beaches of the British Virgin Islands, or helping raise the next generations. Speak to one of our accomplished and skilled financial planners today by calling 877-930-4015 or by contacting us online.

What is Retirement Planning in Lake St. Louis, MO?

Retirement planning is an important facet of financial planning and wealth management that refers to financial strategies to meant to save for the future, like investment options, asset management, 401(k)s or IRAs, and more.

In a best case scenario, you would start saving and planning for retirement from the moment you become a full-time worker. If the idea of planning for an event still decades away is nerve-racking, or if you you don't have the abilities or time to optimize your savings, give the Lake St. Louis, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will develop a deep understanding of where you are and where you want to be financially 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 Lake St. Louis, MO

Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But too few people in Lake St. Louis, MO and throughout the country appreciate 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 about 50% of Americans have planned for how much in savings will be required for retirement
  • Over a quarter of employees who were able to contribute to defined contribution plan such as a 401(k) did not add any savings to it
  • The average American lives for about 20 years

Additional studies noted that 80% of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are judicious in your savings, it is likely best to get in touch with a retirement planning consultant in Lake St. Louis, MO to see if there is anything you are missing, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Lake St. Louis, MO are here to offer comprehensive consultations and to identify how to best move forward with your savings.

Retirement Planning Lake St. Louis, MO | Financial Advisors | Retirement Consultants Near Lake St. Louis

8 Steps to Successful Retirement Planning in Lake St. Louis, MO

Below are some key tips to contemplate no matter how close you are to retirement:

  1. Don't wait to save

    Most economists suggest starting retirement savings young, as soon as you enter the workforce. While at any age you can start saving, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.

  2. Decide on 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 would you be happier working as long as possible? Are you 5, 15, or 30 years away from retirement? when you know that, you will be able to define your risk tolerance and determine how to best position your savings.

  3. Understand what kind of life you want to live in retirement

    If you have always envisioned yearly trips to expensive travel destinations, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary drastically. It's imperative to know the lifestyle you want in your retirement, or, you may not have sufficient income to live the retirement you envisioned.

  4. Balance your retirement goals with other priorities

    While you should never undervalue the benefits of retirement planning as early as possible, you still need to be aware of other financial priorities in Lake St. Louis, MO like valuable real estate investments.

  5. 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.

  6. Put your money in the ideal retirement account(s) for you

    Many Lake St. Louis, MO residents are happy with their current 401(k) company. Others may not have access to a 401(k), are considering moving the savings to an IRA, if they should conduct a 401(k) rollover, or have any of countless other doubts. Depending on when you'll need to take the money out, tax liability, and other factors.

  7. Don't forget about estate planning

    Estate planning ensures you'll leave a legacy for your children, grandchildren, and anyone else you'd like to include in your will. A sound life insurance plan will also protect your Lake St. Louis, MO family if the tragic happens.

  8. Seek the services of professional retirement consultants

    Like in any industry, there's no replacement for a professional. Qualified retirement consultants in Lake St. Louis, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and locate any possible problem areas and make any necessary adjustments; the same way a meteorologist can see weather patterns we can't.

    While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Lake St. Louis, 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 Lake St. Louis, MO include:

Retirement Planning Lake St. Louis, MO | Financial Advisors | Retirement Consultants Near Lake St. Louis

Lake St. Louis, MO Retirement Planning | Correct Capital

At Correct Capital, our wealth managers pride ourselves on 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 insight, and integrity to do what's best for you and only you. If you'd like a retirement planning check-up in Lake St. Louis, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.


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