Retirement Planning in Weldon Spring, MO
Retirement Planning in Weldon Spring, 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 can be an uphill battle for many Weldon Spring, MO residents who know that saving for retirement is important but aren't confident they're headed in the right direction. Whether you're interested in tweaking an existing plan or are looking to create an entirely new one, the Weldon Spring, 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 kicking back on the porch with a cigar. Talk to one of our experienced and skilled financial advisors today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Weldon Spring, MO?
Retirement planning is an important facet of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate portfolios, asset management, savings plans, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you become a full-time worker. If the prospect of planning for an event still decades away 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 Weldon Spring, MO financial advisors at Correct Capital a call at 877-930-4015. Our retirement planning services will help you understand how we can merge your finances and goals and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Weldon Spring, MO
Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in Weldon Spring, MO and throughout the country recognize the importance of developing a comprehensive plan years and even decades before our ideal retirement date. According to data from the U.S. Department of Labor:
- Only half of adults in the United States have planned for how much they need to save for retirement
- Over one-fourth of employees who were able to contribute to defined contribution plan such as a 401(k) did not add any savings to it
- The average American lives for roughly 20 years
Additional studies reported that over 75% of Americans have expressed anxiety that they have not saved enough to be take care of themselves in retirement. At some point, you'll go from a consistent inflow of money and assets, to only withdrawing money. Even if you are consciously preparing for retirement, it is likely best to reach out to a retirement planning specialist in Weldon Spring, MO to see if your savings plan has any blind spots, for instance evaluating 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 Weldon Spring, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Ways to Improve Retirement Planning in Weldon Spring, MO
Below are some vital steps to contemplate when beginning or fine-tuning your retirement planning:
- Start saving early
Most economists recommend starting retirement savings in your early 20s, as soon as you get your first paycheck. While it's never too late to start putting money aside, 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 far you are from your ideal retirement date. Would you like to retire early? Or would you be happier working for a few more years? 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 where you money is better off growing.
- Understand what kind of life you want to live in retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to watch every Cardinals' game of the season, your retirement plan can obviously vary considerably. If you don't understand your lifestyle goals, you may find you do not have enough to be as adventurous or as comfortable as you were hoping.
- Balance your retirement goals with other priorities
While you should start saving when you're young, do not forget about other financial issues in Weldon Spring, 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 best retirement account(s) for you
Many Weldon Spring, 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 have access to a 401(k), wonder if their money might be best in an IRA, if they should perform a 401(k) rollover, or are interested in alternative solutions. Different plans work for different people.
- Pay attention to estate planning
Estate planning ensures you'll leave a legacy for latter generations and anyone else you'd like to include in your will. A good life insurance plan will also protect your Weldon Spring, MO family if the tragic happens.
- Seek the services of professional retirement consultants
Like in any field, the experts know best. Professional retirement consultants in Weldon Spring, MO, like those at Correct Capital, know how to assess the path you're currently on, note any potential problem areas and see where you can improve; the same way a meteorologist can see weather patterns we can't.
While you're focusing on working hard to accumulate the funds needed for your retirement plan, your Weldon Spring, MO retirement planning advisors at Correct Capital will be working hard to actively manage your account.
Other services we offer in Weldon Spring, MO include:
- Succession Planning
- Fiduciary Financial Advisor
- Company 401(k) Plans
- ESOP Advisor
- Self-Employed Retirement Plans
- 401(k) For Small Business
Weldon Spring, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement 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 analytics, and legal and moral imperative to help you achieve the retirement of your dreams. If you want to make sure you're on the right track in Weldon Spring, MO, or want to implement a plan for the first time, call Correct Capital today at 877-930-4015 or contact us online.
