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Florissant Financial Planners

Florissant financial planners can help Missouri residents achieve a secure future during their retirement while developing a budget that allows you to live life to the fullest along the way. From creating a short-term budget to finalizing an investment plan or even getting out of debt, a Florissant financial planner is an excellent resource for preparing a long and fulfilling retirement. Some Florissant residents might feel that only the wealthy or people with complex finances need the help of Missouri financial planners. The truth is, people with modest incomes or moderate savings are often the people who need planning services the most. A Florissant financial planner can help you with all aspects of planning your retirement no matter what your income or financial situation is.

Starting Your Retirement Plan

Anyone can start planning for retirement, whether you realize that's what you're doing or not. Simply paying off high-interest debt is one of the biggest steps toward a secure monetary future that MO residents can take. When you pay off revolving debt, including major and retail credit cards, payday loans and other short-term debt, you are freeing your resources for future investments. Since no long-term retirement investment is likely to pay as much interest as your credit cards, most financial planners advice paying off this debt before you invest in stocks, bonds or others securities. A Florissant financial planner with the help of his or her financial planning software can assist you with developing a budget and calendar for paying off your debt quickly so you can avoid paying more interest than is necessary.

One of the next steps that Florissant financial planners are likely to recommend after paying off your debt is building an emergency savings account. Florissant residents should save a minimum of three months' living expenses in a high-interest account for emergencies. Missouri residents can eventually put this toward their retirement account, but having a safety net for medical emergencies, lay-offs or tough times can help you refrain from using your credit cards or other loans. Retirement funds are excellent for future needs, but as your Florissant financial planner will advise, these accounts are not terribly liquid and often involve penalties for early withdrawals.

Reaching Your Long-term Goals

Once you have developed your savings account and freed yourself from debt, financial planners often advise opening a 401k account through your employer or a simple IRA. These accounts allow you to contribute a certain annual amount tax-free until you retire, at which point your withdrawals will be taxed at your income during retirement. You can contribute up to $16,500 a year to your 401k and $5,000 a year to your IRA. Once you reach the age of 50, you can contribute additional "catch up" funds to better build your nest egg for retirement. Your Florissant financial planner can best explain how 401k and IRA accounts work while recommending the best account for you.

One of the most important aspects of planning your retirement is determining your desired lifestyle. For example, you might want to keep your MO home, or you might want to sell it and move to Florida. You might even want to find a way to have the best of both worlds, with a home in Florissant and a condo outside Missouri. Florissant residents have many options for entertainment within the city, from a thriving live theater scene to fine dining restaurants. Retirees who want to continue attending shows and frequenting eateries can develop a plan with their MO financial advisor to fit these little pleasures in their budget. Financial planners can also help you determine how realistic your goals are and what kind of compromises you might have to make along the way.

Choosing a Florissant Advisor

Florissant residents have many factors to consider when choosing certified personal finance planners. One of the most important factors is open communication. Even the best planners will have a difficult time offering personalized advice if your long-term goals are not clearly understood. Only when Florissant financial planners fully understand your needs can they determine the full range of services that you need, including foreign investments, help selling your home or advice on planning other aspects of your estate if necessary. Your personal finance advisor can even help you with specific planning needs, like developing a strategy for your children's college tuition.

One final factor to consider when researching Florissant financial planners is the size of the company that you prefer. If you hope to work with a single personal finance planner with whom you can communicate and share your long-term goals and progress, you probably want to investigate smaller firms. If you seek a solid reputation and don't mind working with a team, you will likely thrive with a large company. No matter what kind of firm you choose, having a certified advisor at your side can help you plan for a financially secure retirement.

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