Retirement Planning in Weldon Spring, MO
Retirement Planning in Weldon Spring, MO. It's never too early — or too late — to start saving for a happy and healthy retirement. Retirement planning can be an uphill battle for many Weldon Spring, MO residents who understand the value of planning ahead but aren't sure if they're headed in the right direction. Whether you're interested in tweaking an existing plan or need to develop a plan, the Weldon Spring, MO retirement planning consultant at Correct Capital are here to help get you where you want to go; whether that means spending your retirement years touring French vineyards, or just spending some relaxing time in the garden. Speak to one of our seasoned and knowledgeable financial advisors today by calling 314-930-4015 or by getting in touch with us online.
What is Retirement Planning in Weldon Spring, MO?
Retirement planning is an aspect of financial planning and wealth management that seeks to determine retirement income and lifestyle goals and merge them with sound and appropriate stock options, asset management, savings plans, and more.
Successful retirement planning should begin years before you leave the workforce. If the idea of planning for an event decades into the future is daunting, or if you you don't have the abilities or time to optimize your savings, give the Weldon Spring, MO financial advisors at Correct Capital a call at 314-930-4015. When you enlist our retirement planning services, we get to know you and your finances personally and help you determine a retirement plan that works best for you.
The Importance of Retirement Planning in Weldon Spring, MO
Life expectancy in the United States is higher than ever, and retirement planning has never been more essential to ensuring we are happy and comfortable for the remainder of our lives. But not enough 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 Americans have calculated how much income they will need in retirement
- More than one-fourth of employees with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average American spends approximately two decades in retirement
Another survey noted that over three-quarters of Americans have expressed anxiety that they have not saved enough to be financially independent in retirement. While it can be tempting to put off retirement planning as more immediate concerns arise in our day-to-day lives, the truth is failing to take a comprehensive view of our retirement plan can have dire consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still get in touch with a retirement planning specialist in Weldon Spring, MO to see if there is anything you are missing, for instance analyzing 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 Weldon Spring, MO are here to perform a extensive evaluation of your finances and to identify areas of your savings that are safe and those that could use an upgrade.
8 Ways to Improve Retirement Planning in Weldon Spring, MO
Below are some crucial steps to consider no matter how close you are to retirement:
- Start saving early
Most financial professionals advise starting retirement savings in your early 20s, as soon as you have left college or otherwise entered the professional sphere. While it's never too late to start contributing to a retirement plan, the earlier you start saving the more your money will grow by the time you are ready to leave the workforce.
- Understand 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 as long as possible? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is imperative when you need to define your risk tolerance and determine where you money is better off growing.
- Understand your lifestyle goals for retirement
If you have always envisioned yearly trips to exotic beaches, or prefer to watch every Cardinals' game of the season, your retirement planning needs will be different. If you don't understand your lifestyle goals, you may not be able to be as adventurous 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 young, it's also likely not a good idea to avoid other financial priorities 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 ideal retirement account(s) for you
Many Weldon Spring, MO residents are happy with their current 401(k) company. Others may have employment with a 401(k), are considering moving the savings to an IRA, if they should perform a 401(k) rollover, or have any of countless other doubts. Different plans work for different people.
- Remember 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 safeguard your Weldon Spring, MO family if the tragic happens.
- Speak to professional retirement consultants
Like in any field, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in Weldon Spring, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and diagnose any possible blind spots and make any necessary corrections; the same way a vet can notice symptoms in a pet that the owner doesn't.
While you're busy earning money for your retirement plan, your Weldon Spring, MO retirement planning specialists at Correct Capital will be working hard to identify areas of risk and opportunity.
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
- Small Business Retirement Plans
- Tax Planning
- Social Security Consultants Near Me
Weldon Spring, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants always offer our I.O.U. promise: everything we tell you will be independent, objective, and unbiased. As fiduciary advisors and a Registered Investment Advisor, we have the analytics, and morals to create a retirement plan that benefits you. If you want to make sure you're on the right track in Weldon Spring, MO, or need to start a plan, call Correct Capital today at 314-930-4015 or contact us online.
