Retirement Planning in St. Charles, MO

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Retirement Planning in St. Charles, MO. It's never a bad time to start saving for your golden years. Retirement planning can be an uphill battle for many St. Charles, MO residents who want to be comfortable in retirement but don't know if they're headed in the right direction. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the St. Charles, MO retirement planning specialists at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be on cruise ships around Greek islands, or just spending some relaxing time in the garden. Talk to one of our experienced and knowledgeable wealth managers today by calling 314-930-401K or by reaching out to us online.

What is Retirement Planning in St. Charles, MO?

Retirement planning is an aspect of financial planning and wealth management that seeks to prepare for your future life today by choosing the best stock options, asset management, savings plans, and more.

Ideally, retirement planning starts as early as possible. If the prospect of planning for an event decades into the future is challenging, or if you you don't have the abilities or time to stay on top of market trends and familiarize yourself with financial law and lingo, give the St. Charles, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will get to know you and your finances personally and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.

The Importance of Retirement Planning in St. Charles, MO

Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in St. Charles, MO and beyond recognize 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 Americans have thought about how much in savings will be required for retirement
  • More than one-fourth 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 American spends roughly 20 years in retirement

Additional studies reported that over 75% of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. While it can be tempting to delay retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to set up a sound retirement plan can have negative consequences for ourselves and for future generations. Even if you are dutifully putting money aside, you should still reach out to a retirement planning specialist in St. Charles, MO to see if your money is set up as well as it can be for long-term growth, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNERS™ in St. Charles, 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.

Retirement Planning St. Charles, MO | Financial Advisors | Retirement Consultants Near St. Charles

8 Ways to Upgrade Retirement Planning in St. Charles, MO

Below are some key steps to consider when beginning or fine-tuning your retirement planning:

  1. Don't wait to save

    Most experts advise starting retirement savings as early as possible, 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 saving, you want the money to spend as much time collecting interest and growing from investments as possible.

  2. 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 retire early? Or are you more content working and want to delay full retirement for a few more years? Are you 5, 15, or 30 years away from retirement? when you know that, you will be able to define your risk tolerance and determine how to best position your savings.

  3. Understand what kind of life you want to live in retirement

    If you can't stop thinking about yearly trips to Bora Bora, or prefer to be home as much as possible, your retirement plan can obviously vary drastically. It's important to have a clear understanding of how you'd like to live out your golden years, or, you may not have sufficient income to live the retirement you dreamed of.

  4. Don't forget about other priorities

    While you should never underestimate the advantages of retirement planning when you're still far away from retirement, you still need to be aware of other financial priorities in St. Charles, MO like establishing an emergency fund.

  5. 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.

  6. Put your money in the best retirement account(s) for you

    Many St. Charles, 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 have employment with a 401(k), are considering moving the funds to an IRA, if they should look into a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.

  7. Remember estate planning

    Estate planning ensures you'll leave a legacy for future generations and anyone else you'd like to include in your will. A wise life insurance plan will also safeguard your St. Charles, MO family if something happens to you.

  8. Speak to professional retirement consultants

    Like in any industry, there's no replacement for a professional. Qualified retirement consultants in St. Charles, MO, like those at Correct Capital, know how to evaluate your finances, note any possible blind spots and see where you can improve; the same way a dentist can notice cavities we don't.

    While you're busy earning money for your retirement plan, your St. Charles, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.

Other services we offer in St. Charles, MO include:

Retirement Planning St. Charles, MO | Financial Advisors | Retirement Consultants Near St. Charles

St. Charles, MO Retirement Planning | Correct Capital

At Correct Capital, our financial 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 analytics, and honesty to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in St. Charles, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.


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