Retirement Planning in Warson Woods, MO
Qualified, Honest, and Accomplished Retirement Planners and Wealth Managers
Retirement Planning in Warson Woods, MO. You work hard for your money to live the lifestyle you want; not only now, but after you've left the workforce. Retirement planning is a necessary but sometimes confusing topic for many Warson Woods, 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're interested in fine-tuning an existing plan or are just starting on your retirement planning journey, the Warson Woods, MO retirement planning consultant at Correct Capital will create a personalized plan aimed at attaining your dreams; whether that means spending your retirement years on the sandy white beaches of the British Virgin Islands, or perfecting your sudoku skills. Talk to one of our accomplished and astute retirement consultants today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Warson Woods, MO?
Retirement planning is an important facet 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 stock 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 happy retirement. If the idea 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 actively manage a great retirement plan, give the Warson Woods, 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 Warson Woods, MO
Life expectancy in the United States is higher than ever, which means retirement planning is becoming more and more important. But too few people in Warson Woods, MO and throughout the country appreciate the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to a recent study from the U.S. Department of Labor:
- Only half of adults in the United States have calculated how much they need to save for retirement
- More than 25% of employees with access to a defined contribution plan such as a 401(k) did not contribute to it
- The average American spends approximately 20 years in retirement
Additional studies noted that 80% of Americans lack retirement planning knowledge. At some point, you'll go from a consistent inflow of money and assets, to going through them. Even if you are responsibly putting money aside, it is likely best to consult with a retirement planning specialist in Warson Woods, MO to see if your plan could be improved, 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 Warson Woods, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Ways to Enhance Retirement Planning in Warson Woods, MO
Below are some key tips to follow no matter how much money you've saved:
- Don't wait to save
Most financial professionals advise starting retirement savings in your early 20s, as soon as you get your first paycheck. While at any age you can start contributing to a retirement plan, the earlier you start contributing to a savings account the more your money will grow by the time you retire.
- Understand your time horizon
Your time horizon refers to when you'll need to access savings or sell investments. Would you like to retire early? Or would you be happier working as long as possible? Are you retiring soon, or several decades down the line? The answers to those questions and more will help define your risk tolerance and determine how to optimize your savings.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to the south of France, or prefer to watch all 162 Cardinals' games, your retirement plan can obviously vary drastically. It's important to have a clear understanding of the lifestyle you want in your golden years, or, you may not have sufficient income to be as adventurous or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never underestimate the advantages of retirement planning when you're still far away from retirement, do not forget about other financial goals in Warson Woods, MO 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 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 not be offered a 401(k), wonder if their money might be best in an IRA, if they should look into a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Pay attention to estate planning
Estate planning ensures a safe financial future for those you love most. A wise life insurance plan will also ensure your Warson Woods, MO family's future is secure if the tragic happens.
- Speak to professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Accomplished 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 identify any potential blind spots and optimize your savings plan; the same way a chiropractor can notice issues with your alignment.
While you're working hard to make a living and save for your retirement plan, your Warson Woods, MO retirement planning specialists 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 Warson Woods, MO include:
- 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
- Rollover 401(k)
Warson Woods, MO 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 ethics to only act in your best interest. If you want to make sure you're on the right track in Warson Woods, MO, or need to start a plan, call Correct Capital today at 314-930-401(k) or contact us online.