Retirement Planning in Lemay, MO

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Retirement Planning in Lemay, MO. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning can be an uphill battle for many Lemay, MO residents who want to be comfortable in retirement but aren't sure they're headed in the right direction. Whether you're interested in modifying an existing plan or are looking to create an entirely new one, the Lemay, MO retirement planning specialists at Correct Capital will create a bespoke plan aimed at achieving your dreams; whether that means spending your retirement years as a frequent flyer to Hawaii, or helping raise the next generations. Speak to one of our accomplished and skilled financial advisors today by calling 314-930-401K or by contacting us online.

What is Retirement Planning in Lemay, MO?

Retirement planning is an integral part of of financial planning and wealth management that refers to financial strategies to meant to save for the future, like investment options, asset management, savings plans, and more.

Retirement planning, ideally, starts from the moment you enter the workforce and continues into a relaxing retirement. If the idea of planning for an event still decades away is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Lemay, 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 help you determine a retirement plan that works best for you.

The Importance of Retirement Planning in Lemay, MO

Americans are living longer than ever, and retirement planning has never been more essential to ensuring we are set up for the remainder of our lives. But too few people in Lemay, MO and beyond understand how much good or bad retirement planning will determine the final quarter to a third. According to data 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 workers 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 about 20 years in retirement

Another survey reported that over 75% of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. While it can be tempting to delay 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 dire consequences for ourselves and our families. Even if you are consciously preparing for retirement, it is likely best to consult with a retirement planning specialist in Lemay, MO to see if your plan could be improved, 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 Lemay, MO are here to answer any questions and to identify what is working well and what could be improved.

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8 Steps to Successful Retirement Planning in Lemay, MO

Below are some vital tips to contemplate no matter how much money you've saved:

  1. Start saving early

    Most experts recommend starting retirement savings as young as you can, as soon as you have left college or otherwise entered the professional sphere. While even if you are closer to retirement you can still start contributing to a retirement plan, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.

  2. 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 are you more content working and want to avoid full retirement for a few extra years? Are you a few years or a few decades away from retirement? when you know that, you will be able to define your risk tolerance and determine how to optimize your savings.

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

    If you have always envisioned yearly trips to exotic beaches, or prefer to finally be able to sit back and relax, your retirement planning needs will be different. It's imperative to have a clear understanding of the lifestyle you want in your golden years, or, you may not be able to be as venturesome or as comfortable as you were hoping.

  4. Don't forget about other priorities

    While it's always a good idea to prioritize retirement planning as early as possible, you still need to be aware of other financial priorities in Lemay, MO like paying down debt.

  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 Lemay, 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 carry out a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.

  7. 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 ensure your Lemay, MO family's future is secure in the event that the unexpected happens.

  8. Seek the services of professional retirement consultants

    Like in any field, the experts know best. Accomplished retirement consultants in Lemay, MO, like those at Correct Capital, know how to analyze your finances, locate any potential problem areas and optimize your savings plan; 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 Lemay, MO retirement planning consultants 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 Lemay, MO include:

Retirement Planning Lemay, MO | Financial Advisors | Retirement Consultants Near Lemay

Lemay, MO Retirement Planning | Correct Capital

At Correct Capital, our financial planners 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 tools, and morals to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Lemay, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 314-930-401(k) or contact us online.


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