Retirement Planning in O'Fallon, MO

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Retirement Planning in O'Fallon, MO. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning can be daunting for many O'Fallon, MO residents who know what they want their retirement years to look like but aren't sure if they're going to make it where they want to go. Whether you're interested in fine-tuning an existing plan or need to develop a plan, the O'Fallon, MO retirement planning consultant at Correct Capital will create a customized plan aimed at attaining your dreams; whether your ideal retirement means on cruise ships around Greek islands, or kicking back on the porch with a cigar. Talk to one of our accomplished and astute retirement consultants today by calling 314-930-401K or by contacting us online.

What is Retirement Planning in O'Fallon, MO?

Retirement planning is one of the most important aspects 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, 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 still decades away is nerve-racking, 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 O'Fallon, MO financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we 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 O'Fallon, 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 too few people in O'Fallon, MO and beyond understand 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 Americans have thought about how much income they will need in 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. lives for approximately two decades

More research found that four-fifths of Americans lack retirement planning knowledge. At some point, you'll go from a consistent inflow of money and assets, to taking money out of your savings rather than putting them in. Even if you are consciously preparing for retirement, you should still reach out to a retirement planning specialist in O'Fallon, MO to see if your savings plan has any blind spots, for instance analyzing 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 PLANNERS™ in O'Fallon, MO are here to offer comprehensive consultations and to identify areas of your savings that are safe and those that could use improvement.

Retirement Planning O'Fallon, MO | Financial Advisors | Retirement Consultants Near O'Fallon

8 Keys to Productive Retirement Planning in O'Fallon, MO

Below are some vital tips to consider no matter how close you are to retirement:

  1. Start saving early

    Most economists suggest starting retirement savings young, as soon as you start working full time. While even if you are closer to retirement you can still 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.

  2. Have a good grasp of your time horizon

    Your time horizon refers to an investment timeline based on when you want to retire. Would you like to leave the workforce sooner than most? Or are you more content working and want to delay full retirement for a few extra years? 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 where you money is better off growing.

  3. Understand what kind of life you want to live in retirement

    If you dream of yearly trips to Bora Bora, or prefer to be home as much as possible, your income needs will be different. If you don't understand your lifestyle goals, you may find you do not have enough to be as adventurous or as comfortable as you were hoping.

  4. Balance your retirement goals with other priorities

    While it's always a good idea to prioritize retirement planning when you're young, do not forget about other financial goals in O'Fallon, MO like savings for your children's college education.

  5. 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.

  6. Choose the ideal retirement account(s) for you

    Many O'Fallon, MO 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 transferring the funds to an IRA, if they should perform a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.

  7. Don't forget about estate planning

    Estate planning ensures the people you care about most will be taken care of once you're gone. A dependable life insurance plan will also protect your O'Fallon, MO family in the event that the unexpected happens.

  8. Seek the services of professional retirement consultants

    Like in any field, there's no replacement for a professional. Accomplished retirement consultants in O'Fallon, 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 make any necessary adjustments; the same way a dentist can notice cavities we don't.

    While you're busy earning money for your retirement plan, your O'Fallon, MO retirement planning advisors at Correct Capital will be working hard to ensure your hard work is paying off as much as it can.

Other services we offer in O'Fallon, MO include:

Retirement Planning O'Fallon, MO | Financial Advisors | Retirement Consultants Near O'Fallon

O'Fallon, MO Retirement Planning | Correct Capital

At Correct Capital, our retirement planners 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 ethics to create a retirement plan that benefits you. If you'd like a retirement planning check-up in O'Fallon, MO, 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.


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