Retirement Planning in Oakland, MO
Retirement Planning in Oakland, MO. It's never a bad time to start saving for a happy and healthy retirement. Retirement planning can be daunting for many Oakland, MO residents who know that saving for retirement is important but aren't sure 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 need to develop a plan, the Oakland, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at accomplishing your dreams; whether that means spending your retirement years snorkeling the coral gardens of Bora Bora, or helping raise the next generations. Speak to one of our accomplished and astute financial advisors today by calling 314-930-4015 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 sets goals for your retirement income and lifestyle and developes a sound strategy to get there, which includes stock options, asset management, 401(k)s or IRAs, 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 feel there just isn't enough time in the day to stay on top of market trends and familiarize yourself with financial law and lingo, give the Oakland, MO financial advisors at Correct Capital a call at 314-930-4015. Our retirement planning services will 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 Oakland, MO
Americans are living longer than ever, and more and more of us will need wise retirement planning in order to be comfortable and happy our golden years. But too few people in Oakland, MO and throughout the country 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 about 50% of adults in the United States have calculated how much in savings will be required for retirement
- More than a quarter 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. lives for about 20 years
Additional studies reported that 80% of Americans are uncertain about their retirement funds. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are judicious in your savings, it is likely best to consult with a retirement planning professional in Oakland, MO to see if your savings plan has any blind spots, for instance evaluating tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Oakland, 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 Oakland, MO
Below are some key tips to abide by no matter where you are in your retirement planning journey:
- Don't wait to save
Most experts advise starting retirement savings as young as you can, as soon as you get your first paycheck. While at any age you can start saving, the earlier you start contributing to a savings account the more your money will grow by the time you are ready to leave the workforce.
- Decide on 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 would you be happier working 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 which types of savings account may be best for you.
- Understand what kind of life you want to live in retirement
If you can't stop thinking about yearly trips to the south of France, or prefer to help raise the future generations of your family, your income needs will be different. If you don't understand your lifestyle goals, you may find you do not have enough to live the retirement you envisioned.
- 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, you still need to be aware of other financial issues in Oakland, 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.
- Put your money in the best retirement account(s) for you
Many Oakland, MO residents feel their current 401(k) company is the best place to keep the money. Others may have employment with a 401(k), wonder if their money might be best in an IRA, if they should look into a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- 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 dependable life insurance plan will also ensure your Oakland, MO family's future is secure in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Veteran retirement consultants in Oakland, MO, like those at Correct Capital, know how to analyze the path you're currently on, diagnose any potential blind spots 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 focusing on working hard to accumulate the funds needed for your retirement plan, your Oakland, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.
Other services we offer in Oakland, 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
Oakland, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants give you 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 tools, and integrity to do what's best for you and only you. If you want to make sure you're on the right track in Oakland, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 314-930-4015 or contact us online.
