Retirement Planning in Wentzville, MO
Professional, Honest, and Experienced Retirement Planners and Financial Advisors
Retirement Planning in Wentzville, MO. You work hard for your money to live the lifestyle you want; not only now, but in retirement. Retirement planning is a necessary but sometimes perplexing topic for many Wentzville, MO residents who want to be comfortable in retirement but aren't confident they're headed in the right direction. Whether you're interested in tweaking an existing plan or are have just started saving, the Wentzville, MO retirement planning advisors at Correct Capital are here to help you get from where you are to where you're headed; whether your ideal retirement means on first-class flights to Lake Como, or perfecting your crossword skills. Speak to one of our accomplished and astute wealth managers today by calling 314-930-401K or by contacting us online.
What is Retirement Planning in Wentzville, 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 investment options, asset management, savings plans, and more.
Successful retirement planning should begin years before you leave the workforce. 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 314-930-401(k). Our retirement planning services will 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
Americans are living longer than ever, which means retirement planning is becoming more and more important. But too few people in Wentzville, MO and throughout the country understand how much good or bad retirement planning will determine the final quarter to a third. According to data from the U.S. Department of Labor:
- Only about 50% of Americans have considered how much in savings will be required for retirement
- More than a quarter of workers with access to a defined contribution plan such as a 401(k) did not add any savings to it
- The average worker in the U.S. lives for roughly two decades
More research reported that four-fifths of Americans lack retirement planning knowledge. While it can be tempting to delay retirement planning as more pressing concerns arise in our day-to-day lives, the truth is failing to set up a sound retirement plan can have dire consequences for ourselves and for future generations. Even if you are judicious in your savings, you should still reach out to a retirement planning professional in Wentzville, MO to see if your plan could be improved, for instance analyzing tax planning considerations or if it might be better to keep your 401(k) or roll over your 401(k) when deciding to take a new position. Our CERTIFIED FINANCIAL PLANNER™ professionals in Wentzville, MO are here to answer any questions and to identify how to best move forward with your savings.
8 Ways to Upgrade Retirement Planning in Wentzville, MO
Below are some vital tips to follow no matter where you are in your retirement planning journey:
- Start saving early
Most experts advise starting retirement savings as young as you can, as soon as you enter the workforce. While even if you are closer to retirement you can still 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 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 put off full retirement as long as possible? Are you retiring soon, or several decades down the line? A key understanding of your time horizon is essential when you need to 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 expensive travel destinations, or prefer to help raise the future generations of your family, your retirement plan can obviously vary significantly. It's imperative to have a clear understanding of how you'd like to live out your golden years, or, you may find you do not have enough to be as venturesome or as relaxed as you were hoping.
- Don't forget about other priorities
While you should never underestimate the benefits of retirement planning when you're young, you still need to be aware of other financial goals in Wentzville, 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 Wentzville, 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 have a job with a 401(k), wonder if their money might be best in an IRA, if they should conduct a 401(k) rollover, or are interested in other savings plan options. Different plans work for different people.
- Remember estate planning
Estate planning ensures a safe financial future for those you love most. A good life insurance plan will also ensure your Wentzville, MO family's future is secure if something happens to you.
- Seek the services of professional retirement consultants
Like in any industry, there's rarely a substitute for an experienced and knowledgeable professional. Professional retirement consultants in Wentzville, MO, like those at Correct Capital, know how to take a look at someone's finances, goals, and current retirement funds and identify any possible issues and see where you can improve; the same way a dentist can notice cavities we don't.
While you're busy earning money for your retirement plan, your Wentzville, MO retirement planning consultants 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 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
- Social Security Consultants Near Me
- Retirement Calculator
Wentzville, MO Retirement Planning | Correct Capital
At Correct Capital, our financial advisors 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 honesty to create a retirement plan that benefits you. If you want to make sure you're on the right track in Wentzville, MO, or want to implement a plan for the first time, call Correct Capital today at 314-930-401(k) or contact us online.