Retirement Planning in University City, MO
Retirement Planning in University City, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning can be an uphill battle for many University City, MO residents who know what they want their retirement years to look like but aren't sure they're on the right track. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the University City, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether you want to be in Tuscan villas, or perfecting your crossword skills. Talk to one of our accomplished and knowledgeable wealth managers today by calling 877-930-4015 or by reaching out to us online.
What is Retirement Planning in University City, 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 portfolios, asset management, savings plans, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you receive your first paycheck. If the prospect of planning for an event decades into the future 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 University City, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will develop a deep understanding of where you are and where you want to be financially and give you objective and unbiased advice with the objective of getting your ideal retirement plan in place.
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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.
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The Importance of Retirement Planning in University City, MO
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are set up for the remainder of our lives. But not enough people in University City, MO and beyond recognize how much good or bad retirement planning will determine the final 20%-33% of 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 in savings will be required for retirement
- More than a quarter of workers whose employers' offered a defined contribution plan such as a 401(k) did not contribute to it
- The average person in the United States lives for approximately 20 years
More research noted that over three-quarters of Americans lack retirement planning knowledge. While it can be tempting to put off retirement planning as more pressing concerns arise in our day-to-day lives, the truth is neglecting to take a comprehensive view of our retirement plan can have negative consequences for ourselves and our families. Even if you are consciously preparing for retirement, it is likely best to get in touch with a retirement planning specialist in University City, MO to see if there is anything you are missing, for instance analyzing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in University City, MO are here to perform a comprehensive evaluation of your finances and to identify areas of your savings that are well-positioned and those that could use an upgrade.
8 Ways to Upgrade Retirement Planning in University City, MO
Below are some crucial tips to follow no matter where you are in your retirement planning journey:
- Start saving early
Most financial professionals advise starting retirement savings young, as soon as you start working full time. While even if you are closer to retirement you can still start putting money aside, the earlier you start saving the more your money will grow by the time you are ready to leave the workforce.
- Have a good grasp of your time horizon
Your time horizon refers to when you'll need to withdraw savings or sell investments. Would you like to start your golden years? Or are you more content working and want to delay full retirement for a few extra years? Are you 5, 15, or 30 years away from retirement? when you know that, you will be able to define your risk tolerance and determine how to optimize your savings.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to Bora Bora, or prefer to be home as much as possible, your income needs will be different. It's important to have a clear understanding of the lifestyle you want in your retirement, or, you may not have sufficient income to be as adventurous or as relaxed as you were hoping.
- Balance your retirement goals with other priorities
While you should never undervalue the advantages of retirement planning as early as possible, it's also likely not a good idea to avoid other financial goals in University City, MO 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.
- Choose the best retirement account(s) for you
Many University City, 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), are considering moving the funds to an IRA, if they should perform a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- 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 wise life insurance plan will also ensure your University City, MO family's future is secure in the event that the unexpected happens.
- Seek the services of professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished retirement consultants in University City, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and locate any potential problem areas and note potential areas for more growth; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your University City, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in University City, MO include:
University City, MO Retirement Planning | Correct Capital
At Correct Capital, our wealth managers always offer 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 insight, and ethics to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in University City, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
