Retirement Planning in Lemay, MO
Retirement Planning in Lemay, MO. You work hard for your money to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning is a necessary but sometimes perplexing topic for many Lemay, MO residents who understand the value of planning ahead but don't know if they're really saving enough and investing it wisely. Whether you're interested in a second opinion on an existing plan or are have just started saving, the Lemay, MO retirement planning consultant at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years on first-class flights to Lake Como, or kicking back on the porch with a cigar. Talk to one of our seasoned and astute financial advisors today by calling 877-930-4015 or by getting in touch with 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.
Ideally, retirement planning starts as early as possible. If the prospect of planning for an event decades into the future is daunting, or if you you don't have the abilities or time to optimize your savings, give the Lemay, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Lemay, MO
Americans are living longer than ever, and more and more of us will need judicious retirement planning in order to live the lifestyle we want in our golden years. But not enough people in Lemay, MO and throughout the country understand the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to reporting 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 one-fourth of employees whose employers' offered a defined contribution plan such as a 401(k) did not add any savings to it
- The average worker in the U.S. spends approximately two decades in retirement
More research found that 80% of Americans lack retirement planning knowledge. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are responsibly putting money aside, you should still consult with a retirement planning professional in Lemay, MO to see if your money is set up as well as it can be for long-term growth, for instance evaluating tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Lemay, MO are here to answer any questions and to identify what is working well and what could be improved.
8 Tips to Successful Retirement Planning in Lemay, MO
Below are some vital steps to contemplate no matter how close you are to retirement:
- Start saving early
Most experts recommend starting retirement savings in your early 20s, as soon as you get your first paycheck. While it's never too late to start saving, you want the money to spend as much time collecting interest and growing from investments as possible.
- Understand your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to retire early? Or would you be happier working for a few more years? Are you retiring soon, or do you still have more promotions and accolades to earn? when you know that, you will be able to define your risk tolerance and determine how to optimize your savings.
- 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 be home as much as possible, your retirement planning needs will be different. It's imperative to have a clear understanding of how you'd like to live out your golden years, or, you may not be able to live the retirement you dreamed of.
- Don't forget about other priorities
While you should start saving when you're still far away from retirement, do not forget about other financial goals in Lemay, 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 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 consider 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.
- Pay attention to 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 ensure your Lemay, MO family's future is secure in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Qualified retirement consultants in Lemay, MO, like those at Correct Capital, know how to evaluate the path you're currently on, locate any potential issues and note potential areas for more growth; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're busy earning money for your retirement plan, your Lemay, MO retirement planning consultants 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 Lemay, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Lemay, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants always offer 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 resources, and morals to only act in your best interest. If you'd like a retirement planning check-up in Lemay, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
