Retirement Planning in Swansea, IL
Professional, Honest, and Experienced Retirement Consultants and Financial Advisors
Retirement Planning in Swansea, IL. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Swansea, IL residents who want to be comfortable in retirement but don't know if they're really saving enough and investing it wisely. Whether you're interested in modifying an existing plan or need to develop a plan, the Swansea, IL retirement planning consultant at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be on first-class flights to Lake Como, or perfecting your crossword skills. Speak to one of our seasoned and knowledgeable wealth managers today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Swansea, IL?
Retirement planning is an integral part of of financial planning and wealth management that refers to financial strategies to meant to save for the future, like portfolios, asset management, 401(k)s or IRAs, and more.
Successful retirement planning should begin years before you leave the workforce. If the prospect of planning for an event still decades away is nerve-racking, or if you you don't have the abilities or time to actively manage a great retirement plan, give the Swansea, IL 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 help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Swansea, IL
Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in Swansea, IL 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 about 50% of adults in the United States have planned for how much income they will need in retirement
- More than one-fourth of workers with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average worker in the U.S. spends roughly two decades in retirement
Another survey noted that over three-quarters of Americans lack retirement planning knowledge. At some point, you'll go from acquiring money and assets, to going through them. Even if you are consciously preparing for retirement, it is likely best to set up a meeting with a retirement planning consultant in Swansea, IL to see if there is anything you are missing, for instance analyzing 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 PLANNERS™ in Swansea, IL are here to offer comprehensive consultations and to identify how to best position your savings.
8 Ways to Upgrade Retirement Planning in Swansea, IL
Below are some key tips to follow no matter how much money you've saved:
- Don't wait to save
Most economists recommend starting retirement savings in your early 20s, 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.
- Decide on your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to add a few more years onto your retirement? 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? A key understanding of your time horizon is essential when you need to 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 expensive travel destinations, or prefer to watch every Cardinals' game of the season, 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 adventurous or as comfortable as you were hoping.
- Don't forget about other priorities
While you should never undervalue the benefits of retirement planning as early as possible, do not forget about other financial priorities in Swansea, IL like paying down debt.
- 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 Swansea, IL residents feel their current 401(k) company is the best place to keep the money. Others may have a job with a 401(k), wonder if their money might be best in an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Pay attention to 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 safeguard your Swansea, IL family if something happens to you.
- Seek the services of professional retirement consultants
Like in any sphere, there's no replacement for a professional. Veteran retirement consultants in Swansea, IL, like those at Correct Capital, know how to assess your finances, locate any potential issues and make any necessary adjustments; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your Swansea, IL retirement planning specialists at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Swansea, IL include:
- Rollover 401(k)
- Wealth Management
- 401k Companies
- Financial Advisor
- Asset Management
- Retirement Consultant
- Financial Portfolio Management
- 401(k) Rollover
- Financial Advice
Swansea, IL Retirement Planning | Correct Capital
At Correct Capital, our wealth managers 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 morals to do what's best for you and only you. If you want to make sure you're on the right track in Swansea, IL, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.