Retirement Planning in Tower Grove, MO

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Retirement Planning in Tower Grove, MO. It's never too early — or too late — to start planning for a happy and healthy retirement. Retirement planning is a necessary but sometimes confusing topic for many Tower Grove, MO residents who know what they want their retirement years to look like but aren't confident they're headed in the right direction. Whether you're interested in modifying an existing plan or are just starting on your retirement planning journey, the Tower Grove, MO retirement planning consultant at Correct Capital will create a bespoke plan aimed at attaining your dreams; whether you want to be on cruise ships around Greek islands, or perfecting your sudoku skills. Speak to one of our seasoned and knowledgeable wealth managers today by calling 314-930-401K or by contacting us online.

What is Retirement Planning in Tower Grove, MO?

Retirement planning is an integral part of of financial planning and wealth management that sets goals for your retirement income and lifestyle and developes a sound strategy to get there, which includes investment options, asset management, 401(k)s or IRAs, and more.

Retirement planning, ideally, starts from the moment you enter the workforce and continues into a relaxing retirement. If the prospect of planning for an event still decades away is daunting, or if you simply don't have the time, knowledge, or interest to feel like you can to optimize your savings, give the Tower Grove, MO 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 Tower Grove, MO

Americans are living longer than ever, which means retirement planning is becoming more and more important. But not enough people in Tower Grove, MO and throughout the country recognize how large of an effect poor retirement planning could have on their lives. According to reporting from the U.S. Department of Labor:

  • Only half of adults in the United States have considered how much they need to save for retirement
  • Over 25% of employees who were able to contribute to defined contribution plan such as a 401(k) did not put any money into it
  • The average person in the United States spends roughly 20 years in retirement

Another survey noted that 80% of Americans are concerned about their retirement funds. While it can be tempting to put off retirement planning as more immediate 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 our families. Even if you are judicious in your savings, you should still set up a meeting with a retirement planning consultant in Tower Grove, MO to see if your savings plan has any blind spots, 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 Tower Grove, MO are here to perform a comprehensive evaluation of your finances and to identify how to best move forward with your savings.

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8 Keys to Productive Retirement Planning in Tower Grove, MO

Below are some of the most important tips to contemplate no matter how close you are to retirement:

  1. Start saving early

    Most financial professionals advise starting retirement savings young, as soon as you have left college or otherwise entered the professional sphere. While at any age you can start contributing to a retirement plan, starting a few years earlier can result in a difference of tens of thousands, if not hundreds of thousands of dollars.

  2. Have a good grasp of 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 are you more content working and want to avoid full retirement for a few extra years? Are you retiring soon, or several decades down the line? when you know that, you will be able to define your risk tolerance and determine how to optimize your savings.

  3. 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 drastically. If you don't understand your lifestyle goals, you may not be able to live the retirement you dreamed of.

  4. Balance your retirement goals with other priorities

    While it's always a good idea to prioritize retirement planning when you're young, you still need to be aware of other financial goals in Tower Grove, MO like savings for your children's college education.

  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. Choose the best retirement account(s) for you

    Many Tower Grove, MO residents are happy with their current 401(k) company. Others may not have access to a 401(k), are considering moving the savings to an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.

  7. Don't forget about 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 Tower Grove, MO family's future is secure if something happens to you.

  8. Hire professional retirement consultants

    Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Veteran retirement consultants in Tower Grove, MO, like those at Correct Capital, know how to assess the path you're currently on, diagnose any potential problem areas and see where you can improve; the same way a vet can notice symptoms in a pet that the owner doesn't.

    While you're busy earning money for your retirement plan, your Tower Grove, MO retirement planning consultants at Correct Capital will be working hard to identify areas of risk and opportunity.

Other services we offer in Tower Grove, MO include:

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Tower Grove, MO Retirement Planning | Correct Capital

At Correct Capital, our wealth managers pride ourselves on 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 tools, and honesty to create a retirement plan that benefits you. If you'd like a retirement planning check-up in Tower Grove, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.


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