Retirement Planning in Shrewsbury, MO
Retirement Planning in Shrewsbury, MO. It's never a bad time to start planning for your golden years. Retirement planning is a necessary but sometimes confusing subject for many Shrewsbury, MO residents who know that saving for retirement is important but aren't sure if they're really saving enough and investing it wisely. Whether you're interested in tweaking an existing plan or need to develop a plan, the Shrewsbury, MO retirement planning specialists at Correct Capital will create a personalized plan aimed at attaining your dreams; whether you want to be touring French vineyards, or perfecting your crossword skills. Talk to one of our accomplished and skilled financial planners today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in Shrewsbury, 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 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 prospect of planning for an event still decades away is challenging, or if you you feel there just isn't enough time in the day to actively manage a great retirement plan, give the Shrewsbury, 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 Shrewsbury, MO
Life expectancy in the United States is higher than ever, and more and more of us will need prudent retirement planning in order to live the lifestyle we want in our golden years. But not enough people in Shrewsbury, MO and beyond appreciate how much good or bad retirement planning will determine the final quarter to a third. According to research from the U.S. Department of Labor:
- Only half of adults in the United States have planned for how much income they will need in retirement
- More than a quarter of workers with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average person in the United States lives for approximately 20 years
More research reported that four-fifths of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are consciously preparing for retirement, you should still get in touch with a retirement planning consultant in Shrewsbury, MO to see if your plan could be improved, for instance evaluating tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Shrewsbury, MO are here to perform a comprehensive evaluation of your finances and to identify how to best position your savings.
8 Keys to Successful Retirement Planning in Shrewsbury, MO
Below are some crucial tips to contemplate no matter how much money you've saved:
- Don't wait to save
Most financial professionals suggest starting retirement savings as young as you can, as soon as you have left college or otherwise entered the professional sphere. While even if you are closer to retirement you can still start contributing to a retirement plan, 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 an investment timeline based on when you want to retire. Would you like to retire early? Or are you more content working and want to avoid full retirement as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? The answers to those questions and more will help define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you can't stop thinking about yearly trips to the south of France, or prefer to watch every Cardinals' game of the season, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may not be able to be as adventurous or as relaxed as you were hoping.
- Don't forget about other priorities
While you should start saving when you're still far away from retirement, do not forget about other financial issues in Shrewsbury, MO 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 appropriate retirement account(s) for you
Many Shrewsbury, 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 conduct a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- Pay attention to 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 ensure your Shrewsbury, MO family's future is secure if something happens to you.
- Hire professional retirement consultants
Like in any field, the experts know best. Professional retirement consultants in Shrewsbury, MO, like those at Correct Capital, know how to evaluate your finances, identify any potential blind spots and optimize your savings plan; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your Shrewsbury, MO retirement planning advisors at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Shrewsbury, 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
Shrewsbury, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners pride ourselves on 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 morals to only act in your best interest. If you'd like a retirement planning check-up in Shrewsbury, 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.
