Retirement Planning in Lemay, MO
Retirement Planning in Lemay, MO. It's never a bad time to start coming up with a financial path to a happy and healthy retirement. Retirement planning is a necessary but sometimes confusing topic for many Lemay, MO residents who know what they want their retirement years to look like but aren't confident they're headed in the right direction. Whether you're interested in tweaking an existing plan or are have just started saving, the Lemay, MO retirement planning specialists at Correct Capital will create a customized plan aimed at attaining your dreams; whether your ideal retirement means snorkeling the coral gardens of Bora Bora, or just spending some relaxing time in the garden. Talk to one of our seasoned and knowledgeable financial advisors today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in Lemay, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to prepare for your future life today by choosing the best stock 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 prospect of planning for an event decades into the future is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the Lemay, MO financial advisors at Correct Capital a call at 877-930-4015. 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 Lemay, MO
Life expectancy in the United States is higher 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 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 half of Americans have thought about how much in savings will be required for retirement
- More than one-fourth of workers with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average American lives for about 20 years
More research reported that over 75% of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. While it can be tempting to put off retirement planning as more pressing 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 responsibly putting money aside, you should still reach out to a retirement planning professional in Lemay, MO to see if your savings plan has any blind spots, for instance assessing 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 key steps to consider no matter how much money you've saved:
- Don't wait to save
Most experts advise starting retirement savings as early 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 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 long you have to before you'll need to start withdrawing from your savings. Would you like to retire early? Or would you be happier working for a few extra years? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you can't stop thinking about yearly trips to Bora Bora, or prefer to watch every Cardinals' game of the season, your income needs will be different. If you don't understand your lifestyle goals, 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 it's always a good idea to prioritize retirement planning when you're still far away from retirement, do not forget about other financial priorities 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.
- Put your money in the appropriate retirement account(s) for you
Many Lemay, MO residents feel their current 401(k) company is the best place to keep the money. Others may not be offered a 401(k), are considering moving the funds to an IRA, if they should carry out a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A dependable life insurance plan will also protect your Lemay, MO family 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. Professional retirement consultants in Lemay, 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 issues and see where you can improve; the same way a meteorologist can see weather patterns we can'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 ensure your hard work is paying off as much as it can.
Other services we offer in Lemay, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
- Small Business Retirement Plans
- Tax Planning
Lemay, 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 analytics, and integrity to help you achieve the retirement of your dreams. If want us to evaluate your current plan in 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 877-930-4015 or contact us online.
