Retirement Planning in University City, MO
Retirement Planning in University City, MO. It's never a bad time to start saving for a happy and healthy retirement. Retirement planning can be an uphill battle for many University City, MO residents who understand the value of planning ahead but aren't confident they're on the right track. 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 University City, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at achieving your dreams; whether your ideal retirement means snorkeling the coral gardens of Bora Bora, or just spending some quality time in the garden. Speak to one of our experienced and astute wealth managers today by calling 314-930-401K or by getting in touch with us online.
What is Retirement Planning in University City, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to prepare for your future life today by choosing the best portfolios, asset management, 401(k)s or IRAs, and more.
Successful retirement planning should begin years before you leave the workforce. If the idea of planning for an event still decades away is challenging, or if you you feel there just isn't enough time in the day to stay on top of market trends and familiarize yourself with financial law and lingo, give the University City, MO financial advisors at Correct Capital a call at 314-930-401(k). When you hire our retirement planning services, we develop a deep understanding of where you are and where you want to be financially and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in University City, MO
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 University City, MO 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 half of Americans have considered how much in savings will be required for retirement
- More than one-fourth 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. lives for roughly 20 years
Additional studies reported that over 75% of Americans lack retirement planning knowledge. At some point, you'll go from acquiring money and assets, to only withdrawing money. Even if you are dutifully putting money aside, you should still set up a meeting with a retirement planning consultant in University City, MO to see if your savings plan has any blind spots, for instance evaluating tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in University City, MO are here to perform a comprehensive evaluation of your finances and to identify how to best position your savings.
8 Ways to Improve Retirement Planning in University City, MO
Below are some of the most important steps to follow when beginning or fine-tuning your retirement planning:
- Start saving early
Most experts advise starting retirement savings as early as you can, as soon as you start working full time. While it's never too late to 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.
- Have a good grasp of your time horizon
Your time horizon refers to how long you have to before you'll need to start withdrawing from your savings. Would you like to add a few more years onto your retirement? Or are you more content working and want to delay full retirement for a few more years? Are you 5, 15, or 30 years away from retirement? A key understanding of your time horizon is crucial when you need to define your risk tolerance and determine where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you can't stop thinking about yearly trips to the south of France, or prefer to be home as much as possible, your retirement plan can obviously vary considerably. It's imperative to have a clear understanding of the lifestyle you want in your golden years, or, you may not be able 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, do not forget about other financial issues in University City, MO 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.
- Put your money in the appropriate retirement account(s) for you
Many University City, MO residents are happy with their current 401(k) company. Others may not have access to 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. Depending on your time horizon, tax liability, and more.
- 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 ensure your University City, MO family's future is secure if something happens to you.
- Seek the services of professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Veteran 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 identify any possible problem areas and optimize your savings plan; the same way a chiropractor can notice issues with your alignment.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your University City, MO retirement planning advisors 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 University City, MO 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
University City, MO Retirement Planning | Correct Capital
At Correct Capital, our financial planners give you 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 morals to create a retirement plan that benefits you. If you'd like a retirement planning check-up in University City, MO, 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.
