Retirement Planning in St. Charles, MO
Retirement Planning in St. Charles, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many St. Charles, MO residents who know what they want their retirement years to look like but don't know if they're headed in the right direction. Whether you're interested in fine-tuning an existing plan or need to develop a plan, the St. Charles, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether your ideal retirement means on cruise ships around Greek islands, or helping raise the next generations. Talk to one of our seasoned and astute wealth managers today by calling 877-930-4015 or by getting in touch with 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 portfolios, asset management, savings plans, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event decades into the future is challenging, or if you you don't have the abilities or time to optimize your savings, give the St. Charles, 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.
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 not enough people in St. Charles, MO and throughout the country appreciate the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to reporting from the U.S. Department of Labor:
- Only about 50% of Americans have considered how much they need to save for retirement
- Over one-fourth of workers with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average worker in the U.S. lives for roughly two decades
Additional studies reported that 80% of Americans lack retirement planning knowledge. At some point, you'll go from acquiring money and assets, to taking money out of your savings rather than putting them in. Even if you are consciously preparing for retirement, it is likely best to consult with a retirement planning consultant in St. Charles, MO to see if your savings plan has any blind spots, for instance analyzing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Charles, MO are here to perform a extensive evaluation of your finances and to identify areas of your savings that are secure and those that could use improvement.
8 Tips to Productive Retirement Planning in St. Charles, MO
Below are some vital steps to abide by no matter how much money you've saved:
- Start saving early
Most financial professionals suggest starting retirement savings as early as you can, as soon as you enter the workforce. While even if you are closer to retirement you can still start saving, 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 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 for a few extra years? Are you retiring soon, or do you still have more promotions and accolades to earn? 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 your lifestyle goals for retirement
If you can't stop thinking about yearly trips to some of the world's most incredible landmarks, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary drastically. It's imperative to know how you'd like to live out your retirement, or, you may find you do not have enough to be as venturesome or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never undervalue the benefits of retirement planning when you're still far away from retirement, do not forget about other financial issues in St. Charles, MO like paying down debt.
- 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 best 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), wonder if their money might be best in an IRA, if they should look into a 401(k) rollover, or are interested in other savings plan options. Depending on how close you are to retirement, tax liability, and other factors.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A good 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 field, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in St. Charles, MO, like those at Correct Capital, know how to assess your finances, identify any possible issues and note potential areas for more growth; the same way a doctor may see something on an MRI that a patient might not.
While you're focusing on working hard to accumulate the funds needed 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:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
St. Charles, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners always offer 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 honesty to do what's best for you and only you. If want us to evaluate your current plan in in St. Charles, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
