Retirement Planning in St. Charles County, MO
Retirement Planning in St. Charles County, MO. It's never a bad time to start planning for your golden years. Retirement planning is a necessary but sometimes mysterious topic for many St. Charles County, MO residents who understand the value of planning ahead but don't know if they're going to make it where they want to go. Whether you're interested in a second opinion on an existing plan or are just starting on your retirement planning journey, the St. Charles County, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at accomplishing your dreams; whether that means spending your retirement years as a frequent flyer to Hawaii, or perfecting your sudoku skills. Speak to one of our experienced and astute retirement planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in St. Charles County, 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 investment options, asset management, 401(k)s, and more.
Successful retirement planning should begin years before you leave the workforce. If the idea of planning for an event decades into the future 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 St. Charles County, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we take a close look at your finances and goals and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in St. Charles County, MO
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are set up for the remainder of our lives. But not enough people in St. Charles County, MO and throughout the country 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 about 50% of adults in the United States have thought about how much income they will need in retirement
- Over a quarter of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends about 20 years in retirement
Another survey reported that over 75% of Americans lack retirement planning knowledge. 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 consult with a retirement planning professional in St. Charles County, MO to see if your plan could be improved, for instance assessing 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 PLANNER™ professionals in St. Charles County, MO are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Tips to Productive Retirement Planning in St. Charles County, MO
Below are some crucial tips to follow no matter how close you are to retirement:
- Don't wait to save
Most financial professionals recommend starting retirement savings in your early 20s, as soon as you get your first paycheck. While even if you are closer to retirement you can still start contributing to a retirement plan, you want the money to grow for as much time as possible.
- Have a good grasp of your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to add a few more years onto your retirement? 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 have always envisioned yearly trips to some of the world's most incredible landmarks, or prefer to watch every Cardinals' game of the season, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may not be able to live the retirement you dreamed of.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're young, you still need to be aware of other financial priorities in St. Charles County, MO like establishing an emergency fund.
- 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 St. Charles County, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering moving the savings to an IRA, if they should conduct a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Remember estate planning
Estate planning ensures you'll leave a legacy for latter generations and anyone else you'd like to include in your will. A wise life insurance plan will also protect your St. Charles County, MO family in the event that the unexpected happens.
- Hire professional retirement consultants
Like in any sphere, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in St. Charles County, MO, like those at Correct Capital, know how to evaluate your finances, diagnose any possible issues and note potential areas for more growth; the same way a dentist can notice cavities we don't.
While you're working hard to make a living and save for your retirement plan, your St. Charles County, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.
Other services we offer in St. Charles County, 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
St. Charles County, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners pride ourselves on 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 integrity to create a retirement plan that benefits you. If you want to make sure you're on the right track in St. Charles County, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
