Retirement Planning in St. Clair County, IL
Retirement Planning in St. Clair County, IL. It's never a bad time to start coming up with a financial path to a happy and healthy retirement. Retirement planning can be an uphill battle for many St. Clair County, IL residents who know that saving for retirement is important but aren't confident they're really saving enough and investing it wisely. Whether you're interested in fine-tuning an existing plan or are just starting on your retirement planning journey, the St. Clair County, IL retirement planning specialists at Correct Capital will create a bespoke plan aimed at achieving your dreams; whether your ideal retirement means as a frequent flyer to Hawaii, or perfecting your crossword skills. Speak to one of our experienced and knowledgeable wealth managers today by calling 877-930-4015 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 stock options, asset management, savings plans, 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 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. Clair County, IL financial advisors at Correct Capital a call at 877-930-4015. When you hire our retirement planning services, we take a close look at 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
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But too few people in St. Clair County, IL and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to reporting from the U.S. Department of Labor:
- Only about 50% of adults in the United States 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. spends about 20 years in retirement
More research found that 80% of Americans lack retirement planning knowledge. At some point, you'll go from a consistent inflow of money and assets, to taking money out of your savings rather than putting them in. Even if you are responsibly putting money aside, it is likely best to get in touch with a retirement planning professional in St. Clair County, IL to see if your plan could be improved, for instance evaluating tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Clair County, IL are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Ways to Enhance Retirement Planning in St. Clair County, IL
Below are some of the most important tips to contemplate no matter how much money you've saved:
- Don't wait to save
Most experts recommend starting retirement savings in your early 20s, as soon as you enter the workforce. While even if you are closer to retirement you can still 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 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 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 the south of France, or prefer to finally be able to sit back and relax, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may not have sufficient income to be as venturesome or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While it's always a good idea to prioritize retirement planning as early as possible, do not forget about other financial priorities in St. Clair County, IL 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.
- Choose the ideal retirement account(s) for you
Many St. Clair County, IL 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 not have access to 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 other savings plan options. Different plans work for different people.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also ensure your St. Clair County, IL family's future is secure if something happens to you.
- Hire professional retirement consultants
Like in any sphere, the experts know best. Accomplished retirement consultants in St. Clair County, IL, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any potential blind spots and make any necessary adjustments; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your St. Clair County, IL retirement planning specialists at Correct Capital will be working hard to actively manage your account.
Other services we offer in St. Clair County, IL 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. Clair County, IL Retirement Planning | Correct Capital
At Correct Capital, our retirement planners always offer 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 legal and moral imperative to only act in your best interest. If want us to evaluate your current plan in in St. Clair County, IL, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
