Retirement Planning in Webster Groves, MO
Retirement Planning in Webster Groves, MO. It's never too early — or too late — to start saving for your golden years. Retirement planning can be daunting for many Webster Groves, MO residents who know what they want their retirement years to look like but aren't sure if they're headed in the right direction. Whether you're interested in modifying an existing plan or are have just started saving, the Webster Groves, MO retirement planning specialists at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years as a frequent flyer to Hawaii, or just spending some quality time in the garden. Talk to one of our experienced and astute retirement planners today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Webster Groves, MO?
Retirement planning is one of the most important aspects of financial planning and wealth management that seeks to prepare for your future life today by choosing the best investment options, asset management, savings plans, and more.
Ideally, retirement planning starts as early as possible. If the idea of planning for an event decades into the future 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 Webster Groves, MO financial advisors at Correct Capital a call at 877-930-4015. When you enlist our retirement planning services, we help you understand how we can merge your finances and goals and give you objective and unbiased advice aimed at getting your ideal retirement plan in place.
The Importance of Retirement Planning in Webster Groves, MO
Americans are living longer than ever, and more and more of us will need wise retirement planning in order to live the lifestyle we want in our golden years. But too few people in Webster Groves, MO and beyond 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 about 50% of adults in the United States have calculated how much they need to save for retirement
- Over a quarter of employees 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
More research found that 80% of Americans lack retirement planning knowledge. While it can be tempting to delay retirement planning as more immediate concerns arise in our day-to-day lives, the truth is failing to set up a sound retirement plan can have negative consequences for ourselves and for future generations. Even if you are dutifully putting money aside, you should still reach out to a retirement planning professional in Webster Groves, MO to see if your plan could be improved, 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 PLANNER™ professionals in Webster Groves, MO are here to offer comprehensive consultations and to identify how to best position your savings.
8 Keys to Productive Retirement Planning in Webster Groves, MO
Below are some key steps to consider no matter where you are in your retirement planning journey:
- Don't wait to save
Most experts recommend starting retirement savings as early as you can, as soon as you enter the workforce. 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.
- Decide on 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 delay full retirement for a few more years? 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 which types of savings account may be best for you.
- Understand what kind of life you want to live in retirement
If you dream of yearly trips to some of the world's most incredible landmarks, or prefer to help raise the future generations of your family, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may not be able to live the retirement you dreamed of.
- Don't forget about other priorities
While it's always a good idea to prioritize retirement planning when you're still far away from retirement, you still need to be aware of other financial goals in Webster Groves, 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.
- Put your money in the ideal retirement account(s) for you
Many Webster Groves, MO residents are happy with their current 401(k) company. Others may not have access to a 401(k), are considering transferring the savings to an IRA, if they should look into a 401(k) rollover, or have any of countless other doubts. Depending on how close you are to retirement, certain tax considerations, and more.
- Remember estate planning
Estate planning ensures you'll leave a legacy for future generations and anyone else you'd like to include in your will. A sound life insurance plan will also protect your Webster Groves, MO family if the tragic happens.
- 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 Webster Groves, 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 dentist can notice cavities we don't.
While you're working hard to make a living and save for your retirement plan, your Webster Groves, 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 Webster Groves, MO include:
- Succession Planning
- 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
Webster Groves, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants 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 analytics, and ethics to help you achieve the retirement of your dreams. If want us to evaluate your current plan in in Webster Groves, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
