Retirement Planning in St. Louis, MO
Retirement Planning in St. Louis, MO. It's never a bad time to start planning for your golden years. Retirement planning is a necessary but sometimes confusing subject for many St. Louis, MO residents who know what they want their retirement years to look like but aren't confident they're really saving enough and investing it wisely. Whether you're interested in a second opinion on an existing plan or are looking to create an entirely new one, the St. Louis, MO retirement planning specialists at Correct Capital will create a customized plan aimed at achieving your dreams; whether you want to be snorkeling the coral gardens of Bora Bora, or perfecting your crossword skills. Talk to one of our seasoned and astute wealth managers today by calling 877-930-4015 or by contacting 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 seeks to prepare for your future life today by choosing the best stock options, asset management, savings plans, and more.
Successful retirement planning should begin years before you leave the workforce. If the idea 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 optimize your savings, give the St. Louis, MO financial advisors at Correct Capital a call at 877-930-4015. 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, which means retirement planning is becoming more and more important. But not enough people in St. Louis, MO and throughout the country appreciate the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to research from the U.S. Department of Labor:
- Only half of adults in the United States have considered how much income they will need in retirement
- Over a quarter of workers with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average American spends about 20 years in retirement
Additional studies reported that 80% of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. While it can be tempting to put off retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have dire consequences for ourselves and our families. Even if you are consciously preparing for retirement, it is likely best to get in touch with a retirement planning professional in St. Louis, MO to see if your plan could be improved, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Louis, MO are here to offer comprehensive consultations and to identify how to best move forward with your savings.
8 Tips to Productive Retirement Planning in St. Louis, MO
Below are some of the most important steps to contemplate no matter where you are in your retirement planning journey:
- Start saving early
Most financial professionals suggest starting retirement savings as early as you can, as soon as you have left college or otherwise entered the professional sphere. While even if you are closer to retirement you can still start putting money aside, you want the money to spend as much time collecting interest and growing from investments as possible.
- Have a good grasp of 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 leave the workforce sooner than most? Or are you more content working and want to avoid full retirement for a few extra years? 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 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 Bora Bora, or prefer to finally be able to sit back and relax, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may find you do not have enough to live the retirement you envisioned.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're young, do not forget about 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 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 be offered a 401(k), are considering moving the savings to an IRA, if they should consider a 401(k) rollover, or are interested in other savings plan options. Depending on your time horizon, certain tax considerations, and other factors.
- 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 ensure your St. Louis, MO family's future is secure if something happens to you.
- Seek the services of professional retirement consultants
Like in any sphere, there's no replacement for a professional. Accomplished 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 issues and see where you can improve; the same way a dentist can notice cavities we don't.
While you're working hard to make a living and save for your retirement plan, your St. Louis, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in St. Louis, MO include:
- 401(k) Audit
- High-Net-Worth Wealth Management
- Retirement Planner
- Financial Planning
- Retirement Plan Consultants
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
St. Louis, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants 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 analytics, and honesty to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in St. Louis, MO, or want to develop a comprehensive plan that will help you get where you want to go, call Correct Capital today at 877-930-4015 or contact us online.
