Retirement Planning in Oakland, MO
Retirement Planning in Oakland, 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 subject for many Oakland, MO residents who know what they want their retirement years to look like but don't know if they're headed in the right direction. Whether you're interested in fine-tuning an existing plan or need to develop a plan, the Oakland, MO retirement planning consultant at Correct Capital will create a bespoke plan aimed at realizing your dreams; whether you want to be in Tuscan villas, or kicking back on the porch with a cigar. Speak 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 Oakland, MO?
Retirement planning is an important facet 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.
Retirement planning, ideally, starts from the moment you get your first paycheck and continues into a happy retirement. If the idea of planning for an event decades into the future is daunting, or if you you don't have the abilities or time to actively manage a great retirement plan, give the Oakland, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will develop a deep understanding of where you are and where you want to be financially and help you determine a retirement plan that works best for you.
Schedule a Meeting With an Advisor Today
Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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The Importance of Retirement Planning in Oakland, MO
Americans are living longer than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But not enough people in Oakland, MO and throughout the country appreciate how much good or bad retirement planning will determine the final 20%-33% of their lives. According to a recent study 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 25% of workers 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. lives for roughly two decades
More research reported that four-fifths of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are consciously preparing for retirement, it is likely best to set up a meeting with a retirement planning professional in Oakland, MO to see if your money is set up as well as it can be for long-term growth, for instance analyzing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Oakland, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Keys to Productive Retirement Planning in Oakland, MO
Below are some of the most important tips to consider no matter how close you are to retirement:
- Don't wait to save
Most economists recommend starting retirement savings as young as you can, as soon as you have left college or otherwise entered the professional sphere. While it's never too late to start saving, 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 an investment timeline based on when you want to retire. Would you like to start your golden years? Or are you more content working and want to put off full retirement as long as possible? Are you 5, 15, or 30 years away from retirement? 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 can't stop thinking about yearly trips to Bora Bora, or prefer to help raise the future generations of your family, your retirement plan can obviously vary drastically. It's imperative to know 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.
- Balance your retirement goals with 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 Oakland, MO like establishing an emergency fund.
- 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 Oakland, MO residents are happy with their current 401(k) company. Others may not be offered 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 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 Oakland, MO family if something happens to you.
- Seek the services of professional retirement consultants
Like in any sphere, there's no replacement for a professional. Accomplished retirement consultants in Oakland, MO, like those at Correct Capital, know how to analyze your finances, diagnose any possible blind spots and make any necessary corrections; the same way a chiropractor can notice issues with your alignment.
While you're working hard to make a living and save for your retirement plan, your Oakland, 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 Oakland, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Oakland, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners give you 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 honesty to create a retirement plan that benefits you. If you want to make sure you're on the right track in Oakland, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
