Retirement Planning in St. Charles County, MO
Retirement Planning in St. Charles County, MO. It's never a bad time to start saving for a happy and healthy retirement. Retirement planning can be daunting for many St. Charles County, 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 already have a plan and want insight as to how it's performing or are looking to create an entirely new one, the St. Charles County, MO retirement planning specialists at Correct Capital will create a customized plan aimed at realizing your dreams; whether your ideal retirement means on first-class flights to Lake Como, or helping raise the next generations. Talk to one of our seasoned and skilled financial planners today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in St. Charles County, MO?
Retirement planning is an integral part of 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.
Ideally, retirement planning starts as early as possible. If the prospect 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 optimize your savings, give the St. Charles County, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will help you understand how we can merge your finances and goals and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in St. Charles County, MO
Americans are living longer 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 appreciate how large of an effect poor retirement planning could have on their lives. According to research from the U.S. Department of Labor:
- Only about 50% of Americans have planned for how much in savings will be required for retirement
- Over 25% of employees who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
- The average person in the United States lives for roughly two decades
Additional studies noted that over three-quarters of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are judicious in your savings, it is likely best to get in touch with a retirement planning consultant in St. Charles County, MO to see if your savings plan has any blind spots, for instance analyzing 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 St. Charles County, MO are here to answer any questions and to identify areas of your savings that are well-positioned and those that could use an upgrade.
8 Ways to Improve Retirement Planning in St. Charles County, MO
Below are some key tips to contemplate no matter how close you are to retirement:
- Don't wait to save
Most experts suggest starting retirement savings as early as possible, as soon as you enter the workforce. While even if you are closer to retirement you can still start putting money aside, 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 far you are from your ideal retirement date. 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 have always envisioned yearly trips to exotic beaches, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary considerably. It's imperative to have a clear understanding of the lifestyle you want in your golden years, or, you may not be able to be as venturesome or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never underestimate the benefits of retirement planning as early as possible, you still need to be aware of other financial goals 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.
- Put your money in the appropriate retirement account(s) for you
Many St. Charles County, MO residents feel their current 401(k) company is the best place to keep the money. 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 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 the people you care about most will be taken care of once you're gone. A wise life insurance plan will also ensure your St. Charles County, MO family's future is secure if something happens to you.
- Hire professional retirement consultants
Like in any industry, there's no replacement for a professional. Accomplished retirement consultants in St. Charles County, MO, like those at Correct Capital, know how to analyze your finances, locate any possible issues and note potential areas for more growth; the same way a dentist can notice cavities we don't.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your St. Charles County, MO retirement planning advisors 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 give you our I.O.U. promise: all the advice we give will be independent, objective, and unbiased. As fiduciary advisors and a Registered Investment Advisor, we have the insight, and integrity to only act in your best interest. If you'd like a retirement planning check-up in St. Charles County, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
