Retirement Planning in Richmond Heights, MO
Professional, Honest, and Accomplished Retirement Consultants and Wealth Managers
Retirement Planning in Richmond Heights, 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 Richmond Heights, MO residents who want to be comfortable in retirement but don't know if they're on the right track. Whether you're interested in tweaking an existing plan or are looking to create an entirely new one, the Richmond Heights, MO retirement planning advisors at Correct Capital will create a customized plan aimed at attaining your dreams; whether your ideal retirement means as a frequent flyer to Hawaii, or perfecting your sudoku skills. Speak to one of our accomplished and knowledgeable financial advisors today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Richmond Heights, MO?
Retirement planning is one of the most important aspects of financial planning and wealth management that seeks to prepare for your future life today by choosing the best investment options, asset management, 401(k)s or IRAs, and more.
Successful retirement planning should begin years before you leave the workforce. If the prospect of planning for an event still decades away is challenging, 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 Richmond Heights, MO financial advisors at Correct Capital a call at 314-930-401(k). 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 Richmond Heights, MO
Americans are living longer than ever, and more and more of us will need judicious retirement planning in order to live the lifestyle we want in our golden years. But not enough people in Richmond Heights, MO and throughout the country understand how much good or bad retirement planning will determine the final 20%-33% of their lives. According to research from the U.S. Department of Labor:
- Only about 50% of adults in the United States have thought about how much income they will need in retirement
- Over a quarter of employees who were able to contribute to defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends roughly two decades in retirement
Another survey found that 80% of Americans are uncertain that they will not have enough for retirement. 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 consultant in Richmond Heights, MO to see if your plan could be improved, for instance analyzing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNERS™ in Richmond Heights, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Steps to Successful Retirement Planning in Richmond Heights, MO
Below are some crucial tips to abide by no matter where you are in your retirement planning journey:
- Start saving early
Most economists suggest starting retirement savings as early as possible, as soon as you start working full time. While it's never too late to start saving, you want the money to grow for as much time as possible.
- Understand your time horizon
Your time horizon refers to how long you have to before you'll need to start withdrawing from your savings. Would you like to add a few more years onto your retirement? Or are you more content working and want to put off full retirement as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine how to best position your savings.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may not be able to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should start saving as early as possible, you still need to be aware of other financial priorities in Richmond Heights, MO like protecting your family and assets with proper insurance.
- 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 Richmond Heights, 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 have access to a 401(k), wonder if their money might be best in an IRA, if they should look into a 401(k) rollover, or are interested in other savings plan options. Depending on your time horizon, certain tax considerations, and more.
- 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 wise life insurance plan will also protect your Richmond Heights, MO family in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any field, the experts know best. Qualified retirement consultants in Richmond Heights, MO, like those at Correct Capital, know how to evaluate your finances, note any potential blind spots and see where you can improve; the same way a doctor may see something on an MRI that a patient might not.
While you're working hard to make a living and save for your retirement plan, your Richmond Heights, MO retirement planning consultants 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 Richmond Heights, MO include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Richmond Heights, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement 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 tools, and honesty to create a retirement plan that benefits you. If you want to make sure you're on the right track in Richmond Heights, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.