Retirement Planning in Manchester, MO
Retirement Planning in Manchester, MO. It's never too early — or too late — to start saving for a happy and healthy retirement. Retirement planning can be an uphill battle for many Manchester, MO residents who know what they want their retirement years to look like but don't know if they're really saving enough and investing it wisely. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the Manchester, MO retirement planning advisors at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years snorkeling the coral gardens of Bora Bora, or perfecting your sudoku skills. Talk to one of our accomplished and astute wealth managers today by calling 314-930-4015 or by getting in touch with us online.
What is Retirement Planning in Manchester, 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 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 still decades away is nerve-racking, 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 Manchester, MO financial advisors at Correct Capital a call at 314-930-4015. Our retirement planning services will take a close look at your finances and goals and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Manchester, MO
Life expectancy in the United States is higher than ever, and more and more of us will need prudent retirement planning in order to be comfortable and happy our golden years. But not enough people in Manchester, MO and throughout the country appreciate how much good or bad retirement planning will determine the final quarter to a third. According to reporting from the U.S. Department of Labor:
- Only about 50% of adults in the United States have thought about how much in savings will be required for retirement
- Over a quarter of employees with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends approximately two decades in retirement
Another survey reported that over 75% of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are responsibly putting money aside, it is likely best to set up a meeting with a retirement planning specialist in Manchester, MO to see if there is anything you are missing, 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 Manchester, MO are here to answer any questions and to identify what is working well and what could be improved.
8 Steps to Successful Retirement Planning in Manchester, MO
Below are some crucial tips to follow no matter how close you are to retirement:
- Start saving early
Most economists recommend starting retirement savings in your early 20s, as soon as you enter the workforce. While at any age you can start putting money aside, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.
- Understand your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to start your golden years? Or are you more content working and want to avoid full retirement as long as possible? Are you a few years or a few decades away from retirement? The answers to those questions and more will help define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to the south of France, or prefer to watch all 162 Cardinals' games, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may not have sufficient income to live the retirement you dreamed of.
- Don't forget about other priorities
While you should never underestimate the advantages of retirement planning as early as possible, you still need to be aware of other financial issues in Manchester, MO 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.
- Choose the appropriate retirement account(s) for you
Many Manchester, MO 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 perform a 401(k) rollover, or are interested in other savings plan options. Depending on how close you are to retirement, tax liability, and more.
- Remember estate planning
Estate planning ensures you'll leave a legacy for future generations and anyone else you'd like to include in your will. A dependable life insurance plan will also ensure your Manchester, MO family's future is secure in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any sphere, the experts know best. Accomplished retirement consultants in Manchester, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and diagnose any potential problem areas and see where you can improve; the same way a chiropractor can notice issues with your alignment.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Manchester, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.
Other services we offer in Manchester, 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
- Social Security Consultants Near Me
Manchester, 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 insight, and honesty to create a retirement plan that benefits you. If you'd like a retirement planning check-up in Manchester, MO, or need to start a plan, call Correct Capital today at 314-930-4015 or contact us online.
