Retirement Planning in St. Louis County, MO
Retirement Planning in St. Louis County, MO. 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. Louis County, MO residents who want to be comfortable in retirement but aren't sure they're going to make it where they want to go. 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 consultant at Correct Capital are here to help you get from where you are to where you're headed; whether your ideal retirement means on the sandy white beaches of the British Virgin Islands, or helping raise the next generations. Talk to one of our experienced and astute retirement consultants today by calling 877-930-4015 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 refers to financial strategies to meant to save for the future, like investment options, asset management, savings plans, and more.
Retirement planning, ideally, starts from the moment you enter the workforce and continues into a happy retirement. If the idea of planning for an event decades into the future is challenging, or if you you feel there just isn't enough time in the day to optimize your savings, give the St. Louis County, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we take a close look at your finances and goals and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
The Importance of Retirement Planning in St. Louis County, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But not enough people in St. Louis County, MO and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to a recent study 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 with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States spends about 20 years in retirement
Additional studies noted that four-fifths of Americans are apprehensive that they will not have enough for retirement. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are judicious in your savings, you should still reach out to a retirement planning consultant in St. Louis County, 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 deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Louis County, MO are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Ways to Improve Retirement Planning in St. Louis County, MO
Below are some vital tips to contemplate no matter how close you are to retirement:
- Don't wait to save
Most financial professionals suggest starting retirement savings in your early 20s, as soon as you have left college or otherwise entered the professional sphere. 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 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 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 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 watch all 162 Cardinals' games, your retirement plan can obviously vary considerably. It's imperative to have a clear understanding of the lifestyle you want in your retirement, or, you may not be able to be as adventurous or as comfortable as you were hoping.
- Don't forget about other priorities
While you should start saving as early as possible, you still need to be aware of other financial priorities in St. Louis County, MO like protecting your family and assets with proper insurance.
- 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 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 have a job with a 401(k), are considering moving the funds to an IRA, if they should conduct a 401(k) rollover, or are interested in alternative solutions. 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 sound life insurance plan will also ensure your St. Louis County, MO family's future is secure in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any industry, the experts know best. Qualified retirement consultants in St. Louis County, MO, like those at Correct Capital, know how to assess your finances, diagnose any potential problem areas and note potential areas for more growth; the same way a meteorologist can see weather patterns we can't.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your St. Louis County, MO retirement planning advisors 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:
- 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
St. Louis County, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors pride ourselves on 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 tools, and ethics to create a retirement plan that benefits you. If you'd like a retirement planning check-up in St. Louis County, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
