Retirement Planning in St. Clair County, IL

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Retirement Planning in St. Clair County, IL. You work hard every day to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning can be daunting for many St. Clair County, IL residents who know that saving for retirement is important but don't know if they're on the right track. Whether you're interested in modifying an existing plan or are just starting on your retirement planning journey, the St. Clair County, IL retirement planning specialists at Correct Capital are here to help you get from where you are to where you're headed; whether that means spending your retirement years on first-class flights to Lake Como, or perfecting your sudoku skills. Talk to one of our seasoned and knowledgeable financial planners today by calling 314-930-401K or by getting in touch with us online.

What is Retirement Planning in St. Clair County, IL?

Retirement planning is one of the most important aspects of financial planning and wealth management that refers to financial strategies to meant to save for the future, like portfolios, asset management, 401(k)s or IRAs, 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 challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the St. Clair County, IL financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we help you understand how we can merge your finances and goals and help you determine a retirement plan that works best for you.

The Importance of Retirement Planning in St. Clair County, IL

Americans are living longer than ever, and more and more of us will need judicious retirement planning in order to be comfortable and happy our golden years. But not enough people in St. Clair County, IL and throughout the country recognize 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 half of Americans have calculated how much they need to save for retirement
  • More than 25% of workers who were able to contribute to defined contribution plan such as a 401(k) did not contribute to it
  • The average American spends about two decades in retirement

Additional studies found that four-fifths of Americans lack retirement planning knowledge. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is neglecting to set up a sound retirement plan can have negative consequences for ourselves and our families. Even if you are judicious in your savings, you should still set up a meeting with a retirement planning professional in St. Clair County, IL to see if your money is set up as well as it can be for long-term growth, for instance analyzing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNERS™ in St. Clair County, IL are here to perform a thorough evaluation of your finances and to identify what is working well and what could be improved.

Retirement Planning St. Clair County, IL | Financial Advisors | Retirement Consultants Near St. Clair County

8 Tips to Successful Retirement Planning in St. Clair County, IL

Below are some key steps to follow no matter how close you are to retirement:

  1. Don't wait to save

    Most experts suggest starting retirement savings as early as possible, as soon as you start working full time. While at any age you can start putting money aside, you want the money to grow for as much time as possible.

  2. 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 for a few extra 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 your lifestyle goals for retirement

    If you dream of yearly trips to Bora Bora, or prefer to watch every Cardinals' game of the season, your income needs will be different. If you don't understand your lifestyle goals, you may not be able to be as venturesome or as relaxed as you were hoping.

  4. Balance your retirement goals with other priorities

    While you should start saving when you're still far away from retirement, it's also likely not a good idea to avoid other financial priorities in St. Clair County, IL like savings for your children's college education.

  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. Choose the ideal retirement account(s) for you

    Many St. Clair County, IL 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 carry out a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.

  7. Don't forget about estate planning

    Estate planning ensures the people you care about most will be taken care of once you're gone. A sound life insurance plan will also protect your St. Clair County, IL family if the tragic happens.

  8. Seek the services of professional retirement consultants

    Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in St. Clair County, IL, like those at Correct Capital, know how to evaluate the path you're currently on, locate any possible problem areas and make any necessary adjustments; the same way a doctor may see something on an MRI that a patient might not.

    While you're working hard to make a living and save for your retirement plan, your St. Clair County, IL retirement planning consultants at Correct Capital will be working hard to identify areas of risk and opportunity.

Other services we offer in St. Clair County, IL include:

Retirement Planning St. Clair County, IL | Financial Advisors | Retirement Consultants Near St. Clair County

St. Clair County, IL Retirement Planning | Correct Capital

At Correct Capital, our retirement 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 resources, and morals to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in St. Clair County, IL, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.

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