Retirement Planning in Swansea, IL
Qualified, Honest, and Veterant Retirement Planners and Wealth Managers
Retirement Planning in Swansea, IL. 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 Swansea, IL residents who want to be comfortable in retirement but aren't sure 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 looking to create an entirely new one, the Swansea, IL retirement planning consultant at Correct Capital will create a bespoke plan aimed at accomplishing your dreams; whether that means spending your retirement years snorkeling the coral gardens of Bora Bora, or kicking back on the porch with a cigar. Speak to one of our seasoned and astute financial advisors today by calling 314-930-401K or by reaching out to us online.
What is Retirement Planning in Swansea, IL?
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.
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 simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Swansea, IL financial advisors at Correct Capital a call at 314-930-401(k). When you enlist our retirement planning services, we 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 Swansea, IL
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 Swansea, IL and beyond 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 calculated how much they need to save for retirement
- More than one-fourth of employees with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average American spends about two decades in retirement
Additional studies found that 80% of Americans are concerned that they will not have enough for 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 negative consequences for ourselves and for future generations. Even if you are consciously preparing for retirement, it is likely best to get in touch with a retirement planning consultant in Swansea, IL to see if there is anything you are missing, for instance evaluating tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Swansea, IL are here to perform a comprehensive evaluation of your finances and to identify how to best position your savings.
8 Keys to Successful Retirement Planning in Swansea, IL
Below are some vital tips to abide by no matter where you are in your retirement planning journey:
- Start saving early
Most economists recommend starting retirement savings as young as you can, as soon as you start working full time. While even if you are closer to retirement you can still start contributing to a retirement plan, the earlier you start contributing to a savings account the more your money will grow by the time you retire.
- Understand your time horizon
Your time horizon refers to how far you are from your ideal retirement date. Would you like to retire early? Or are you more content working and want to put off full retirement as long as possible? Are you retiring soon, or do you still have more promotions and accolades to earn? The answers to those questions and more will help define your risk tolerance and determine how to optimize your savings.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to exotic beaches, or prefer to finally be able to sit back and relax, your retirement planning needs will be different. It's important to know the lifestyle you want in your retirement, or, you may not have sufficient income to be as venturesome or as comfortable as you were hoping.
- Don't forget about other priorities
While you should never undervalue the advantages of retirement planning when you're still far away from retirement, it's also likely not a good idea to avoid other financial issues in Swansea, IL like valuable real estate investments.
- 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 appropriate retirement account(s) for you
Many Swansea, IL residents feel their current 401(k) company is the best place to see their money grow. Others may not be offered a 401(k), wonder if their money might be best in an IRA, if they should perform a 401(k) rollover, or are interested in alternative solutions. Depending on your age, certain tax considerations, and other factors.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A dependable life insurance plan will also safeguard your Swansea, IL family in the event that the unexpected happens.
- Speak to 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 take a look at someone's finances, goals, and current retirement funds and identify any potential issues and note potential areas for more growth; the same way a chiropractor can notice issues with your alignment.
While you're busy earning money for your retirement plan, your Swansea, IL retirement planning specialists at Correct Capital will be working hard to rebalance your portfolio in the interest of keeping your money and savings performing for you.
Other services we offer in Swansea, IL include:
- 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
Swansea, IL Retirement Planning | Correct Capital
At Correct Capital, our wealth managers give you 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 tools, and legal and moral imperative to only act in your best interest. If you'd like a retirement planning check-up in Swansea, IL, or want to develop a comprehensive plan that we can help you follow for years to come, call Correct Capital today at 314-930-401(k) or contact us online.