Retirement Planning in Warson Woods, MO
Retirement Planning in Warson Woods, MO. You work hard every day to live the lifestyle you want; not only now, but in retirement. Retirement planning can be daunting for many Warson Woods, MO residents who know what they want their retirement years to look like but don't know if they're on the right track. Whether you already have a plan and want insight as to how it's performing or are just starting on your retirement planning journey, the Warson Woods, MO retirement planning specialists at Correct Capital will create a personalized plan aimed at realizing your dreams; whether that means spending your retirement years as a frequent flyer to Hawaii, or perfecting your crossword skills. Talk to one of our seasoned and knowledgeable financial planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Warson Woods, MO?
Retirement planning is an aspect 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 simply don't have the time, knowledge, or interest to feel like you can to actively manage a great retirement plan, give the Warson Woods, MO financial advisors at Correct Capital a call at 877-930-4015. When you hire our retirement planning services, we 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 Warson Woods, 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 Warson Woods, MO and throughout the country understand how much good or bad retirement planning will determine the final quarter to a third. According to data from the U.S. Department of Labor:
- Only about 50% of adults in the United States have considered how much income they will need in retirement
- More than a quarter of workers 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 approximately two decades in retirement
Another survey reported that over 75% of Americans are worried about their retirement funds. At some point, you'll go from acquiring money and assets, to only withdrawing money. Even if you are dutifully putting money aside, it is likely best to get in touch with a retirement planning consultant in Warson Woods, MO to see if your money is set up as well as it can be for long-term growth, for instance assessing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when changing jobs. Our CERTIFIED FINANCIAL PLANNER™ professionals in Warson Woods, MO are here to offer comprehensive consultations and to identify what is working well and what could be improved.
8 Ways to Improve Retirement Planning in Warson Woods, MO
Below are some key steps to follow no matter how close you are to retirement:
- Start saving early
Most experts suggest starting retirement savings in your early 20s, as soon as you enter the workforce. While it's never too late to start contributing to a retirement plan, you want the money to grow for as much time as possible.
- Understand your time horizon
Your time horizon refers to an investment timeline based on when you want to retire. Would you like to add a few more years onto your retirement? Or are you more content working and want to avoid full retirement as long as possible? Are you a few years or a few decades away from retirement? when you know that, you will be able to define your risk tolerance and determine how to best position your savings.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to expensive travel destinations, or prefer to help raise the future generations of your family, your income needs will be different. It's important to have a clear understanding of how you'd like to live out your retirement, or, you may find you do not have enough to live the retirement you dreamed of.
- Don't forget about other priorities
While you should start saving as early as possible, you still need to be aware of other financial goals in Warson Woods, MO like savings for your children's college education.
- 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 best retirement account(s) for you
Many Warson Woods, MO 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 have employment with a 401(k), wonder if their money might be best in an IRA, if they should consider a 401(k) rollover, or are interested in alternative solutions. Depending on your time horizon, certain tax considerations, and other factors.
- Remember estate planning
Estate planning ensures the people you care about most will be taken care of once you're gone. A dependable life insurance plan will also safeguard your Warson Woods, MO family if something happens to you.
- Seek the services of professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Qualified retirement consultants in Warson Woods, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and diagnose any potential issues and make any necessary corrections; the same way a meteorologist can see weather patterns we can't.
While you're busy earning money for your retirement plan, your Warson Woods, MO retirement planning consultants at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Warson Woods, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
Warson Woods, 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 do what's best for you and only you. If you'd like a retirement planning check-up in Warson Woods, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
