Retirement Planning in St. Peters, MO
Retirement Planning in St. Peters, MO. It's never too early — or too late — to start planning for a happy and healthy retirement. Retirement planning can be an uphill battle for many St. Peters, MO residents who understand the value of planning ahead but aren't confident they're headed in the right direction. Whether you're interested in fine-tuning an existing plan or are just starting on your retirement planning journey, the St. Peters, MO retirement planning specialists at Correct Capital are here to help you get from where you are to where you're headed; whether that means spending your retirement years on the sandy white beaches of the British Virgin Islands, or helping raise the next generations. Talk to one of our seasoned and knowledgeable wealth managers today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in St. Peters, MO?
Retirement planning is an aspect of financial planning and wealth management that refers to financial strategies to meant to save for the future, like stock options, asset management, 401(k)s, and more.
Ideally, retirement planning starts as early as possible. 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 optimize your savings, give the St. Peters, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we help you understand how we can merge 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. Peters, MO
Life expectancy in the United States is higher than ever, and more and more of us will need wise retirement planning in order to be comfortable and happy our golden years. But not enough people in St. Peters, MO and throughout the country appreciate the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to a recent study from the U.S. Department of Labor:
- Only about 50% of adults in the United States have planned for how much they need to save for retirement
- More than a quarter of workers with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average person in the United States spends about two decades in retirement
Additional studies found that four-fifths of Americans are worried about their retirement funds. 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 negative consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still reach out to a retirement planning consultant in St. Peters, 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 if it might be better to keep your 401(k) or roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in St. Peters, MO are here to perform a thorough evaluation of your finances and to identify how to best move forward with your savings.
8 Steps to Successful Retirement Planning in St. Peters, MO
Below are some of the most important steps to abide by no matter how much money you've saved:
- Start saving early
Most economists suggest starting retirement savings as early as possible, as soon as you start working full time. While even if you are closer to retirement you can still start saving, the earlier you start saving the more your money will grow by the time you are ready to leave the workforce.
- 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 leave the workforce sooner than most? Or are you more content working and want to delay full retirement 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 how to best position your savings.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to some of the world's most incredible landmarks, or prefer to help raise the future generations of your family, your income needs will be different. If you don't understand your lifestyle goals, you may find you do not have enough to be as adventurous or as comfortable as you were hoping.
- Balance your retirement goals with other priorities
While you should never underestimate the benefits of retirement planning as early as possible, it's also likely not a good idea to avoid other financial priorities in St. Peters, MO like savings for your children's college education.
- 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.
- Choose the best retirement account(s) for you
Many St. Peters, MO residents feel their current 401(k) company is the best place to see their money grow. Others may have a job with a 401(k), wonder if their money might be best in an IRA, if they should look into a 401(k) rollover, or are interested in other savings plan options. Depending on how close you are to retirement, tax liability, and more.
- Remember estate planning
Estate planning ensures the people you care about most will be taken care of once you're gone. A good life insurance plan will also ensure your St. Peters, MO family's future is secure in the event that the unexpected happens.
- Hire professional retirement consultants
Like in any sphere, there's rarely a substitute for an experienced and knowledgeable professional. Qualified retirement consultants in St. Peters, MO, like those at Correct Capital, know how to evaluate the path you're currently on, locate any possible issues and optimize your savings plan; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your St. Peters, MO retirement planning consultants at Correct Capital will be working hard to actively manage your account.
Other services we offer in St. Peters, 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. Peters, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners always offer our I.O.U. promise: everything we tell you will be independent, objective, and unbiased. As fiduciary advisors and a Registered Investment Advisor, we have the insight, and honesty to only act in your best interest. If you want to make sure you're on the right track in St. Peters, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
