Retirement Planning in Swansea, IL
Retirement Planning in Swansea, IL. It's never too early — or too late — to start coming up with a financial path to the retirement of your dreams. Retirement planning can be an uphill battle for many Swansea, IL residents who want to be comfortable in retirement but aren't confident they're really saving enough and investing it wisely. Whether you're interested in tweaking an existing plan or need to develop a plan, the Swansea, IL retirement planning advisors at Correct Capital will create a bespoke plan aimed at attaining your dreams; whether you want to be on the sandy white beaches of the British Virgin Islands, or helping raise the next generations. Speak to one of our accomplished and knowledgeable financial planners today by calling 877-930-4015 or by getting in touch with 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 stock options, asset management, 401(k)s, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event still decades away is daunting, or if you you feel there just isn't enough time in the day to actively manage a great retirement plan, give the Swansea, IL financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will get to know you and your finances personally and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Swansea, IL
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 Swansea, IL and beyond recognize how large of an effect poor retirement planning could have on their lives. According to research from the U.S. Department of Labor:
- Only half of Americans have planned for how much they need to save for retirement
- Over a quarter of workers who were able to contribute to defined contribution plan such as a 401(k) did not contribute to it
- The average worker in the U.S. spends roughly two decades in retirement
More research found that over three-quarters of Americans lack retirement planning knowledge. While it can be tempting to delay retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing 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 set up a meeting with a retirement planning professional in Swansea, IL to see if your plan could be improved, for instance analyzing tax planning considerations or whether or not it might be beneficial to roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Swansea, IL are here to answer any questions and to identify how to best position your savings.
8 Tips to Productive Retirement Planning in Swansea, IL
Below are some of the most important tips to abide by when beginning or fine-tuning your retirement planning:
- Don't wait to save
Most experts advise starting retirement savings young, as soon as you start working full time. While it's never too late to start putting money aside, the earlier you start saving the more your money will grow by the time you retire.
- Understand your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to start your golden years? Or would you be happier working for a few more years? Are you a few years or a few decades away from retirement? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine which types of savings account may be best for you.
- Understand your lifestyle goals for retirement
If you dream of yearly trips to expensive travel destinations, or prefer to help raise the future generations of your family, your retirement plan can obviously vary drastically. If you don't understand your lifestyle goals, you may not have sufficient income to live the retirement you envisioned.
- Balance your retirement goals with other priorities
While you should start saving as early as possible, do not forget about other financial issues in Swansea, IL 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.
- Choose the ideal retirement account(s) for you
Many Swansea, IL 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 transferring the funds to an IRA, if they should perform a 401(k) rollover, or have any of countless other doubts. Depending on your age, certain tax considerations, and more.
- Don't forget about estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also ensure your Swansea, IL family's future is secure in the event that the unexpected happens.
- Speak to professional retirement consultants
Like in any sphere, the experts know best. Professional retirement consultants in Swansea, IL, like those at Correct Capital, know how to analyze your finances, diagnose any possible issues and make any necessary corrections; the same way a meteorologist can see weather patterns we can't.
While you're working hard to make a living and save for your retirement plan, your Swansea, IL retirement planning specialists at Correct Capital will be working hard to ensure your hard work is paying off as much as it can.
Other services we offer in Swansea, IL include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
Swansea, IL Retirement Planning | Correct Capital
At Correct Capital, our retirement planners 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 create a retirement plan that benefits you. If want us to evaluate your current plan in in Swansea, IL, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
