Retirement Planning in Shrewsbury, MO
Retirement Planning in Shrewsbury, MO. It's never a bad time to start saving for your golden years. Retirement planning is a necessary but sometimes mysterious subject for many Shrewsbury, MO residents who want to be comfortable in retirement but aren't sure they're going to make it where they want to go. Whether you already have a plan and want insight as to how it's performing or are have just started saving, the Shrewsbury, MO retirement planning advisors at Correct Capital will create a bespoke plan aimed at accomplishing your dreams; whether you want to be as a frequent flyer to Hawaii, or just spending some quality time in the garden. Speak to one of our experienced and astute wealth managers today by calling 877-930-4015 or by contacting us online.
What is Retirement Planning in Shrewsbury, MO?
Retirement planning is an integral part of of financial planning and wealth management that refers to financial strategies to meant to save for the future, like portfolios, asset management, 401(k)s or IRAs, 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 decades into the future is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the Shrewsbury, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will develop a deep understanding of where you are and where you want to be financially and help you determine a retirement plan that works best for you.
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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 Shrewsbury, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in Shrewsbury, MO and beyond recognize the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to research from the U.S. Department of Labor:
- Only half of Americans have considered how much they need to save for retirement
- More than 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 American spends about 20 years in retirement
Another survey found that over 75% of Americans are concerned that they will not have enough for retirement. While it can be tempting to put off retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have dire consequences for ourselves and our families. Even if you are consciously preparing for retirement, you should still consult with a retirement planning consultant in Shrewsbury, 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 changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Shrewsbury, MO are here to answer any questions and to identify areas of your savings that are safe and those that could use improvement.
8 Steps to Productive Retirement Planning in Shrewsbury, MO
Below are some crucial tips to consider no matter where you are in your retirement planning journey:
- Don't wait to save
Most experts suggest starting retirement savings as early as you can, as soon as you start working full time. While at any age you can start saving, you want the money to spend as much time collecting interest and growing from investments as possible.
- Have a good grasp of 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 retire early? Or would you be happier working as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? when you know that, you will be able 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 dream of yearly trips to expensive travel destinations, or prefer to watch every Cardinals' game of the season, your retirement plan can obviously vary significantly. If you don't understand your lifestyle goals, you may find you do not have enough to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should never undervalue the benefits of retirement planning when you're young, do not forget about other financial goals in Shrewsbury, 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.
- Put your money in the ideal retirement account(s) for you
Many Shrewsbury, MO residents feel their current 401(k) company is the best place to save. Others may not be offered a 401(k), wonder if their money might be best in an IRA, if they should perform a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Remember estate planning
Estate planning ensures you'll leave a legacy for your children, grandchildren, and anyone else you'd like to include in your will. A good life insurance plan will also safeguard your Shrewsbury, MO family if the tragic happens.
- Hire professional retirement consultants
Like in any industry, the experts know best. Professional retirement consultants in Shrewsbury, 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 blind spots and note potential areas for more growth; the same way a meteorologist can see weather patterns we can't.
While you're busy earning money for your retirement plan, your Shrewsbury, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.
Other services we offer in Shrewsbury, MO include:
Shrewsbury, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants 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 analytics, and honesty to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Shrewsbury, MO, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 877-930-4015 or contact us online.
