Retirement Planning in O'Fallon, IL
Qualified, Honest, and Veterant Retirement Planners and Financial Advisors
Retirement Planning in O'Fallon, IL. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning is a necessary but sometimes confusing subject for many O'Fallon, IL residents who want to be comfortable in retirement but aren't sure they're headed in the right direction. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the O'Fallon, IL retirement planning specialists at Correct Capital will create a bespoke plan aimed at attaining your dreams; whether your ideal retirement means as a frequent flyer to Hawaii, or kicking back on the porch with a cigar. Talk to one of our seasoned and skilled wealth managers today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in O'Fallon, IL?
Retirement planning is an aspect of financial planning and wealth management that refers to financial strategies to meant to save for the future, like stock options, asset management, 401(k)s or IRAs, and more.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a happy retirement. If the idea of planning for an event still decades away is nerve-racking, or if you you feel there just isn't enough time in the day to actively manage a great retirement plan, give the O'Fallon, IL financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in O'Fallon, 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 O'Fallon, IL and throughout the country understand how large of an effect poor retirement planning could have on their lives. According to research 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 employees with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends about two decades in retirement
More research reported that 80% of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is neglecting to set up a sound retirement plan can have negative consequences for ourselves and our families. Even if you are judicious in your savings, you should still consult with a retirement planning consultant in O'Fallon, IL to see if your savings plan has any blind spots, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNERS™ in O'Fallon, IL are here to answer any questions and to identify how to best position your savings.
8 Ways to Upgrade Retirement Planning in O'Fallon, IL
Below are some of the most important steps to follow no matter how much money you've saved:
- Start saving early
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 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 when you'll need to withdraw savings or sell investments. Would you like to leave the workforce sooner than most? Or are you more content working and want to avoid full retirement as long as possible? Are you retiring soon, or several decades down the line? when you know that, you will be able to define your risk tolerance and determine how to best position your savings.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to help raise the future generations of your family, your income needs will be different. It's imperative to know the lifestyle you want in your retirement, or, you may find you do not have enough to live the retirement you envisioned.
- Balance your retirement goals with 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 goals in O'Fallon, IL like valuable real estate investments.
- 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 best retirement account(s) for you
Many O'Fallon, IL residents find that the 401(k) company offered by their current or past employer meets their needs and are comfortable that their savings are growing well. Others may not be offered a 401(k), are considering moving the funds to an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. Depending on when you'll need to take the money out, tax liability, and more.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also protect your O'Fallon, IL family if the tragic happens.
- Seek the services of professional retirement consultants
Like in any field, the experts know best. Qualified retirement consultants in O'Fallon, IL, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any potential issues and make any necessary adjustments; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're busy earning money for your retirement plan, your O'Fallon, IL retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in O'Fallon, IL include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
O'Fallon, 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 analytics, and legal and moral imperative to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in O'Fallon, IL, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.