Retirement Planning in Olivette, MO
Retirement Planning in Olivette, MO. It's never too early — or too late — to start planning for a happy and healthy retirement. Retirement planning can be an uphill battle for many Olivette, MO residents who understand the value of planning ahead 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 are looking to create an entirely new one, the Olivette, MO retirement planning specialists at Correct Capital will create a customized plan aimed at realizing your dreams; whether you want to be as a frequent flyer to Hawaii, or helping raise the next generations. Speak to one of our accomplished and astute financial advisors today by calling 877-930-4015 or by contacting us online.
What is Retirement Planning in Olivette, MO?
Retirement planning is an aspect 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.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a relaxing retirement. If the idea 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 stay on top of market trends and familiarize yourself with financial law and lingo, give the Olivette, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will get to know you and your finances personally and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
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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 Olivette, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in Olivette, MO and beyond understand 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 half of adults in the United States have considered how much in savings will be required for retirement
- Over one-fourth of employees whose employers' offered a defined contribution plan such as a 401(k) did not put any money into it
- The average American spends about two decades in retirement
Additional studies noted that 80% of Americans are concerned that they will not have enough for retirement. At some point, you'll go from acquiring money and assets, to going through them. Even if you are consciously preparing for retirement, you should still reach out to a retirement planning specialist in Olivette, MO to see if there is anything you are missing, for instance assessing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Olivette, MO are here to perform a thorough evaluation of your finances and to identify what is working well and what could be improved.
8 Tips to Productive Retirement Planning in Olivette, MO
Below are some vital tips to consider no matter how much money you've saved:
- Start saving early
Most economists recommend starting retirement savings in your early 20s, as soon as you enter the workforce. While even if you are closer to retirement you can still 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.
- 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 start your golden years? Or would you be happier working for a few extra years? Are you 5, 15, or 30 years 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 what kind of life you want to live in retirement
If you dream of yearly trips to Bora Bora, or prefer to finally be able to sit back and relax, your retirement planning needs will be different. It's imperative to have a clear understanding of how you'd like to live out your golden years, or, you may not be able to be as venturesome or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While you should never undervalue the benefits of retirement planning as early as possible, it's also likely not a good idea to avoid other financial priorities in Olivette, MO like paying down debt.
- 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 Olivette, 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 have a job with a 401(k), are considering transferring 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 other factors.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A sound life insurance plan will also safeguard your Olivette, MO family if something happens to you.
- Speak to professional retirement consultants
Like in any sphere, there's rarely a substitute for an experienced and knowledgeable professional. Qualified retirement consultants in Olivette, MO, like those at Correct Capital, know how to analyze your finances, note any potential issues 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 Olivette, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in Olivette, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Olivette, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners give you 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 integrity to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Olivette, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
