Retirement Planning in Madison County, IL
Professional, Honest, and Experienced Retirement Consultants and Financial Advisors
Retirement Planning in Madison County, IL. It's never too early — or too late — to start planning for your golden years. Retirement planning can be an uphill battle for many Madison County, IL residents who want to be comfortable in retirement but aren't sure if they're going to make it where they want to go. Whether you already have a plan and want insight as to how it's performing or are just starting on your retirement planning journey, the Madison County, IL retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be on the sandy white beaches of the British Virgin Islands, or just spending some relaxing time in the garden. Talk to one of our accomplished and skilled retirement consultants today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Madison County, IL?
Retirement planning is one of the most important aspects of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate stock options, asset management, 401(k)s, 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 decades into the future is nerve-racking, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Madison County, IL 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 with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in Madison County, IL
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 not enough people in Madison County, IL and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to a recent study from the U.S. Department of Labor:
- Only half of adults in the United States have planned for how much in savings will be required for retirement
- More than 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 roughly 20 years in retirement
More research reported that over 75% of Americans are concerned that they will not have enough for retirement. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are dutifully putting money aside, you should still get in touch with a retirement planning specialist in Madison County, IL to see if your plan could be improved, for instance assessing 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 PLANNER™ professionals in Madison County, IL are here to answer any questions and to identify areas of your savings that are secure and those that could use improvement.
8 Steps to Productive Retirement Planning in Madison County, IL
Below are some crucial steps to follow no matter how much money you've saved:
- Start saving early
Most financial professionals suggest starting retirement savings as early as you can, as soon as you get your first paycheck. While at any age you can start putting money aside, you want the money to spend as much time collecting interest and growing from investments as possible.
- Decide on 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 as long as possible? 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 where you money is better off growing.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to be home as much as possible, your income needs will be different. It's important to have a clear understanding of how you'd like to live out your golden years, or, you may not have sufficient income to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should never underestimate the benefits of retirement planning when you're still far away from retirement, do not forget about other financial issues in Madison County, IL like savings for your children's college education.
- 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 ideal retirement account(s) for you
Many Madison County, IL residents are happy with their current 401(k) company. Others may not have access to a 401(k), wonder if their money might be best in an IRA, if they should consider a 401(k) rollover, or have any of countless other doubts. Depending on when you'll need to take the money out, certain tax considerations, and more.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your Madison County, IL family's future is secure if the tragic happens.
- Seek the services of professional retirement consultants
Like in any sphere, there's no replacement for a professional. Professional retirement consultants in Madison County, IL, like those at Correct Capital, know how to assess your finances, diagnose any possible blind spots and note potential areas for more growth; the same way a dentist can notice cavities we don't.
While you're working hard to make a living and save for your retirement plan, your Madison County, IL 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 Madison County, IL include:
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
- Small Business Retirement Plans
- Tax Planning
- Social Security Consultants Near Me
- Retirement Calculator
Madison County, IL Retirement Planning | Correct Capital
At Correct Capital, our financial 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 insight, and legal and moral imperative to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in Madison County, IL, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 314-930-401(k) or contact us online.