Retirement Planning in St. Charles, MO
Retirement Planning in St. Charles, MO. It's never a bad time to start coming up with a financial path to your golden years. Retirement planning can be daunting for many St. Charles, MO residents who know what they want their retirement years to look like but aren't sure 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, MO retirement planning consultant at Correct Capital will create a customized plan aimed at realizing your dreams; whether you want to be on first-class flights to Lake Como, or just spending some quality time in the garden. Speak to one of our accomplished and astute financial advisors today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in St. Charles, MO?
Retirement planning is one of the most important aspects 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 prospect of planning for an event still decades away is nerve-racking, or if you you don't have the abilities or time to actively manage a great retirement plan, give the St. Charles, MO financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we 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, MO
Americans are living longer 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 too few people in St. Charles, MO and beyond appreciate how much good or bad retirement planning will determine the final quarter to a third. According to a recent study from the U.S. Department of Labor:
- Only about 50% of adults in the United States have calculated how much they need to save for retirement
- Over one-fourth of employees whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. lives for approximately 20 years
More research found that over three-quarters of Americans lack retirement planning knowledge. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are judicious in your savings, it is likely best to 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 whether or not it might be beneficial to roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Charles, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Ways to Upgrade Retirement Planning in St. Charles, MO
Below are some vital steps to abide by when beginning or fine-tuning your retirement planning:
- Start saving early
Most financial professionals advise starting retirement savings as early as you can, as soon as you start working full time. While at any age you can start contributing to a retirement plan, the earlier you start saving the more your money will grow by the time you are ready to leave the workforce.
- Have a good grasp of your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to add a few more years onto your retirement? Or would you be happier working as long as possible? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is essential when you need to define your risk tolerance and determine where you money is better off growing.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to some of the world's most incredible landmarks, or prefer to be home as much as possible, your income needs will be different. It's important to have a clear understanding of how you'd like to live out your golden years, or, you may not be able to be as venturesome or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While you should start saving as early as possible, do not forget about other financial issues in St. Charles, MO like savings for your children's college education.
- 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, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering transferring the savings to an IRA, if they should perform a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Pay attention to 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 ensure your St. Charles, MO family's future is secure if something happens to you.
- Seek the services of professional retirement consultants
Like in any industry, the experts know best. Veteran retirement consultants in St. Charles, MO, like those at Correct Capital, know how to assess your finances, note any possible issues and note potential areas for more growth; the same way a chiropractor can notice issues with your alignment.
While you're working hard to make a living and save for your retirement plan, your St. Charles, MO retirement planning consultants at Correct Capital will be working hard to ensure your hard work is not being wasted.
Other services we offer in St. Charles, 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
St. Charles, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors 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 resources, and legal and moral imperative 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.
