Retirement Planning in St. Louis, MO

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Retirement Planning in St. Louis, MO. You work hard for your money 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, MO residents who know what they want their retirement years to look like but aren't sure they're headed in the right direction. Whether you're interested in a second opinion on an existing plan or are have just started saving, the St. Louis, MO retirement planning specialists at Correct Capital are here to help get you where you want to go; whether you want to be touring French vineyards, or perfecting your sudoku skills. Speak to one of our accomplished and knowledgeable financial advisors today by calling 314-930-401K or by reaching out to us online.

What is Retirement Planning in St. Louis, MO?

Retirement planning is an integral part of of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate portfolios, asset management, 401(k)s, 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 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 stay on top of market trends and familiarize yourself with financial law and lingo, give the St. Louis, MO financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we help you understand how we can merge your finances and goals and help you determine a retirement plan that works best for you.

The Importance of Retirement Planning in St. Louis, MO

Americans are living longer 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. Louis, 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 Americans have thought about how much they need to save for retirement
  • More than a quarter of employees whose employers' offered a defined contribution plan such as a 401(k) did not put any money into it
  • The average American lives for roughly 20 years

More research reported that over 75% of Americans lack retirement planning knowledge. While it can be tempting to delay retirement planning as more immediate concerns arise in our day-to-day lives, the truth is neglecting to set up a sound retirement plan can have dire consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still reach out to a retirement planning specialist in St. Louis, MO to see if your money is set up as well as it can be for long-term growth, for instance evaluating tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNERS™ in St. Louis, MO are here to perform a thorough evaluation of your finances and to identify areas of your savings that are secure and those that could use improvement.

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8 Keys to Productive Retirement Planning in St. Louis, MO

Below are some crucial steps to follow no matter how much money you've saved:

  1. Don't wait to save

    Most experts suggest starting retirement savings as young 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 grow for as much time as possible.

  2. Have a good grasp of your time horizon

    Your time horizon refers to when you'll need to withdraw savings or sell investments. 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? 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.

  3. Understand your lifestyle goals for retirement

    If you dream of yearly trips to Bora Bora, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may find you do not have enough to be as venturesome or as comfortable as you were hoping.

  4. 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 goals in St. Louis, MO like protecting your family and assets with proper insurance.

  5. 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.

  6. 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 keep the money. Others may not have access to a 401(k), are considering moving the funds to an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Depending on when you'll need to take the money out, tax liability, and other factors.

  7. Pay attention to estate planning

    Estate planning ensures you'll leave a legacy for future generations and anyone else you'd like to include in your will. A sound life insurance plan will also ensure your St. Louis, MO family's future is secure if the tragic happens.

  8. Speak to professional retirement consultants

    Like in any sphere, there's no replacement for a professional. Professional 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 locate any possible issues and optimize your savings plan; 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 specialists at Correct Capital will be working hard to actively manage your account.

Other services we offer in St. Louis, MO include:

Retirement Planning St. Louis, MO | Financial Advisors | Retirement Consultants Near St. Louis

St. Louis, MO Retirement Planning | Correct Capital

At Correct Capital, our wealth managers 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 integrity to only act in your best interest. 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 314-930-401(k) or contact us online.

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