Retirement Planning in St. Louis County, MO
Professional, Honest, and Experienced Retirement Planners and Wealth Managers
Retirement Planning in St. Louis County, MO. It's never too early — or too late — to start saving for the retirement of your dreams. Retirement planning is a necessary but sometimes confusing subject for many St. Louis County, MO residents who want to be comfortable in retirement but aren't confident they're headed in the right direction. Whether you already have a plan and want insight as to how it's performing or are just starting on your retirement planning journey, the St. Louis County, MO retirement planning specialists at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years in Tuscan villas, or kicking back on the porch with a cigar. Speak to one of our seasoned and skilled wealth managers today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in St. Louis County, 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, 401(k)s or IRAs, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you receive your first paycheck. If the prospect of planning for an event still decades away is nerve-racking, 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. Louis County, MO financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we get to know you and your finances personally and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in St. Louis County, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But not enough people in St. Louis County, MO and beyond understand how large of an effect poor retirement planning could have on their lives. According to data from the U.S. Department of Labor:
- Only half of adults in the United States have calculated how much income they will need in retirement
- Over 25% of employees who were able to contribute to defined contribution plan such as a 401(k) did not add any savings to it
- The average American spends about two decades in retirement
More research noted that four-fifths of Americans are uncertain about their retirement funds. While it can be tempting to delay retirement planning as more immediate concerns arise in our day-to-day lives, the truth is failing to set up a sound retirement plan can have dire consequences for ourselves and for future generations. Even if you are responsibly putting money aside, it is likely best to get in touch with a retirement planning consultant in St. Louis County, MO to see if your plan could be improved, for instance analyzing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNERS™ in St. Louis County, MO are here to perform a comprehensive evaluation of your finances and to identify areas of your savings that are safe and those that could use improvement.
8 Tips to Productive Retirement Planning in St. Louis County, MO
Below are some vital steps to contemplate no matter how close you are to retirement:
- Don't wait to save
Most economists suggest starting retirement savings young, as soon as you enter the workforce. While at any age you can start contributing to a retirement plan, you want the money to grow for as much time as possible.
- 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 add a few more years onto your retirement? Or are you more content working and want to delay full retirement for a few extra years? Are you a few years or a few decades away from retirement? The answers to those questions and more will help define your risk tolerance and determine where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to the south of France, or prefer to watch every Cardinals' game of the season, your income needs will be different. It's important to know the lifestyle you want in your golden years, or, you may not be able to be as venturesome or as comfortable 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 issues in St. Louis County, MO like valuable real estate investments.
- 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. Louis County, MO residents feel their current 401(k) company is the best place to see their money grow. Others may not be offered a 401(k), are considering moving the funds to an IRA, if they should look into a 401(k) rollover, or have any of countless other doubts. Depending on your time horizon, certain tax considerations, and other factors.
- Remember estate planning
Estate planning ensures the people you care about most will be taken care of once you're gone. A dependable life insurance plan will also ensure your St. Louis County, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any sphere, the experts know best. Qualified retirement consultants in St. Louis County, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and identify any potential blind spots and optimize your savings plan; the same way a meteorologist can see weather patterns we can't.
While you're working hard to make a living and save for your retirement plan, your St. Louis County, MO retirement planning consultants at Correct Capital will be working hard to rebalance your portfolio in the interest of keeping your money and savings performing for you.
Other services we offer in St. Louis County, MO include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
St. Louis County, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors give you 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 insight, and ethics to do what's best for you and only you. If you want to make sure you're on the right track in St. Louis County, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.