Retirement Planning in St. Louis, MO
Qualified, Honest, and Veterant Retirement Planners and Wealth Managers
Retirement Planning in St. Louis, MO. It's never too early — or too late — to start saving for your golden years. Retirement planning can be daunting for many St. Louis, MO residents who know that saving for retirement is important but aren't sure if 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, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at achieving your dreams; whether that means spending your retirement years in Tuscan villas, or helping raise the next generations. Talk to one of our accomplished and knowledgeable retirement consultants today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in St. Louis, 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, and more.
Ideally, retirement planning starts as early as possible. If the prospect of planning for an event decades into the future is challenging, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the St. Louis, MO financial advisors at Correct Capital a call at 314-930-401(k). Our retirement planning services will 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, MO
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 not enough people in St. Louis, MO and throughout the country appreciate 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 about 50% of Americans have considered how much income they will need in retirement
- More than a quarter of employees with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average person in the United States lives for approximately two decades
More research noted 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 consciously preparing for retirement, you should still consult with a retirement planning specialist in St. Louis, MO to see if your savings plan has any blind spots, for instance analyzing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Louis, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Tips to Productive Retirement Planning in St. Louis, MO
Below are some of the most important steps to contemplate no matter how close you are to retirement:
- Start saving early
Most financial professionals suggest starting retirement savings as early as you can, as soon as you get your first paycheck. While it's never too late to start saving, you want the money to spend as much time collecting interest and growing from investments as possible.
- Decide on 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 more 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 which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to expensive travel destinations, or prefer to finally be able to sit back and relax, your income needs will be different. If you don't understand your lifestyle goals, you may not be able to live the retirement you dreamed of.
- Balance your retirement goals with other priorities
While you should start saving when you're young, it's also likely not a good idea to avoid other financial issues in St. Louis, MO 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.
- Put your money in the ideal retirement account(s) for you
Many St. Louis, MO residents feel their current 401(k) company is the best place to save. Others may not have access to a 401(k), are considering transferring the funds to an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. Depending on your age, certain tax considerations, and more.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your St. Louis, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any industry, there's no replacement for a professional. Qualified retirement consultants in St. Louis, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and note any potential problem areas and make any necessary corrections; 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, MO retirement planning consultants at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in St. Louis, 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
- Social Security Consultants Near Me
- Retirement Calculator
St. Louis, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement planners 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 analytics, and legal and ethical imperative to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in St. Louis, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.