Retirement Planning in Lake St. Louis, MO
Qualified, Honest, and Experienced Retirement Planners and Financial Advisors
Retirement Planning in Lake St. Louis, MO. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning is a necessary but sometimes perplexing subject for many Lake St. Louis, MO residents who understand the value of planning ahead but don't know if they're going to make it where they want to go. Whether you're interested in modifying an existing plan or need to develop a plan, the Lake St. Louis, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether that means spending your retirement years on the sandy white beaches of the British Virgin Islands, or just spending some relaxing time in the garden. Speak to one of our seasoned and skilled financial planners today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Lake St. Louis, MO?
Retirement planning is an integral part of 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 portfolios, asset management, 401(k)s, and more.
Successful retirement planning should begin years before you leave the workforce. If the prospect of planning for an event still decades away is daunting, or if you you feel there just isn't enough time in the day to actively manage a great retirement plan, give the Lake St. Louis, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will get to know you and your finances personally and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Lake St. Louis, 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 Lake St. Louis, MO and throughout the country appreciate 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 about 50% of Americans have considered how much they need to save for retirement
- More than a quarter of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends roughly 20 years in retirement
Another survey noted that four-fifths of Americans lack retirement planning knowledge. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is neglecting to take a comprehensive view of our retirement plan can have negative consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still reach out to a retirement planning consultant in Lake St. Louis, MO to see if there is anything you are missing, for instance analyzing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNERS™ in Lake St. Louis, MO are here to answer any questions and to identify how to best position your savings.
8 Steps to Successful Retirement Planning in Lake St. Louis, MO
Below are some key tips to abide by no matter where you are in your retirement planning journey:
- Start saving early
Most experts suggest starting retirement savings young, as soon as you get your first paycheck. While at any age you can start putting money aside, the earlier you start saving the more your money will grow by the time you retire.
- Have a good grasp of your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to add a few more years onto your retirement? Or are you more content working and want to avoid full retirement as long as possible? 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 where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to exotic beaches, or prefer to be home as much as possible, your income needs will be different. It's imperative to have a clear understanding of the lifestyle you want in your retirement, or, you may find you do not have enough to be as venturesome or as comfortable as you were hoping.
- Don't forget about other priorities
While you should never underestimate 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 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 Lake St. Louis, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering moving the funds to an IRA, if they should perform a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A dependable life insurance plan will also safeguard your Lake St. Louis, MO family if the tragic happens.
- Seek the services of professional retirement consultants
Like in any field, the experts know best. Accomplished retirement consultants in Lake St. Louis, MO, like those at Correct Capital, know how to analyze your finances, diagnose any possible blind spots and make any necessary corrections; the same way a doctor may see something on an MRI that a patient might not.
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 identify areas of risk and opportunity.
Other services we offer in Lake St. Louis, MO include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Lake St. Louis, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners 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 tools, and ethics to only act in your best interest. If you want to make sure you're on the right track in Lake St. Louis, MO, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.