Retirement Planning in Wentzville, MO
Retirement Planning in Wentzville, MO. It's never too early — or too late — to start coming up with a financial path to the retirement of your dreams. Retirement planning can be an uphill battle for many Wentzville, MO residents who want to be comfortable in retirement but aren't sure if they're on the right track. Whether you already have a plan and want insight as to how it's performing or need to develop a plan, the Wentzville, MO retirement planning consultant at Correct Capital will create a bespoke plan aimed at realizing your dreams; whether your ideal retirement means in Tuscan villas, or helping raise the next generations. Speak to one of our seasoned and knowledgeable financial advisors today by calling 877-930-4015 or by getting in touch with us online.
What is Retirement Planning in Wentzville, MO?
Retirement planning is one of the most important aspects of financial planning and wealth management that refers to financial strategies to meant to save for the future, like stock options, asset management, savings plans, and more.
In a best case scenario, you would start saving and planning for retirement from the moment you receive your first paycheck. If the prospect of planning for an event still decades away is nerve-racking, or if you you feel there just isn't enough time in the day to optimize your savings, give the Wentzville, 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 Wentzville, MO
Life expectancy in the United States is higher 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 not enough people in Wentzville, MO and throughout the country understand how much good or bad retirement planning will determine the final 20%-33% of their lives. According to a recent study from the U.S. Department of Labor:
- Only half of Americans have thought about how much income they will need in retirement
- Over one-fourth of workers with access to a defined contribution plan such as a 401(k) did not put any money into it
- The average American spends about two decades in retirement
Another survey found that 80% of Americans have expressed anxiety that they have not saved enough to be take care of themselves 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 negative consequences for ourselves and our families. Even if you are dutifully putting money aside, you should still set up a meeting with a retirement planning professional in Wentzville, MO to see if your savings plan has any blind spots, for instance assessing tax planning considerations or if your savings would be better positioned if you roll over your 401(k) when moving to a new employer. Our CERTIFIED FINANCIAL PLANNER™ professionals in Wentzville, MO are here to perform a thorough evaluation of your finances and to identify what is working well and what could be improved.
8 Ways to Upgrade Retirement Planning in Wentzville, MO
Below are some crucial steps to follow no matter how much money you've saved:
- Start saving early
Most economists suggest starting retirement savings in your early 20s, as soon as you enter the workforce. While at any age you can start putting money aside, the earlier you start contributing to a savings account 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 start your golden years? Or are you more content working and want to put off full retirement for a few extra 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 your lifestyle goals for retirement
If you can't stop thinking about yearly trips to the south of France, or prefer to finally be able to sit back and relax, your retirement plan can obviously vary drastically. It's important to know how you'd like to live out your golden years, or, you may not be able to live the retirement you envisioned.
- 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 Wentzville, MO like valuable real estate investments.
- 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 appropriate retirement account(s) for you
Many Wentzville, MO residents are happy with their current 401(k) company. Others may not be offered a 401(k), are considering moving the funds to an IRA, if they should carry out a 401(k) rollover, or have any of countless other doubts. Depending on your age, certain tax considerations, and more.
- 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 dependable life insurance plan will also safeguard your Wentzville, MO family if something happens to you.
- Hire professional retirement consultants
Like in any industry, the experts know best. Professional retirement consultants in Wentzville, MO, like those at Correct Capital, know how to evaluate your finances, identify any potential issues and optimize your savings plan; 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 Wentzville, MO retirement planning specialists at Correct Capital will be working hard to identify areas of risk and opportunity.
Other services we offer in Wentzville, 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
Wentzville, MO Retirement Planning | Correct Capital
At Correct Capital, our retirement consultants 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 insight, and legal and moral imperative to help you achieve the retirement of your dreams. If you'd like a retirement planning check-up in Wentzville, MO, or need to start a plan, call Correct Capital today at 877-930-4015 or contact us online.
