Planning for retirement is one of the most important things you can do in your lifetime. After a lifetime of working hard, you deserve to enjoy the fruits of your labor and retire comfortably. You can trust Investment Services at First Community to help you plan for and pursue the ideal retirement. Our retirement planning services are highly customized and customized to work towards the income you need to sustain the lifestyle you want to live.

Our Retirement Planning Process

Living comfortably when you’re done collecting a bi-weekly paycheck is possible, and we help people plan for it every day. Whether you plan to leave the workforce in your 30s or your 70s, we’ll outline the steps you need to take to get there. Our retirement planning process includes:

• Calculating your projected living expenses
• Figuring out a realistic timeline for retirement
• Providing guidance for savings and investments
• Calculating your future tax impact*
• Managing your goals versus your risks

Safeguard Your Future

Your retirement situation depends on the steps you take today. To safeguard your future and make sure you have enough money to live the lifestyle you want when you retire, contact us today.

Frequently Asked Questions About Retirement Planning

How much money do I need to retire comfortably?

The amount needed to retire comfortably depends on your desired lifestyle, expected expenses, retirement age, income sources, and healthcare costs. Retirement planning helps evaluate these factors and create a strategy designed to support long-term financial needs throughout retirement.

When should I start retirement planning?

Retirement planning can begin at any age, but starting earlier may provide more opportunities to save and benefit from long-term compounding. Even individuals approaching retirement can benefit from evaluating income sources, expenses, and retirement goals.

What is the difference between retirement planning and investment management?

Retirement planning takes a comprehensive view of your future financial needs, including income, savings, Social Security, taxes, and lifestyle goals. Investment management focuses primarily on managing investment portfolios designed to help support those broader retirement objectives.

Can I retire at age 60?

Retiring at age 60 may be possible depending on your savings, expected retirement income, healthcare coverage, and spending needs. A retirement plan can help determine whether your resources may support an earlier retirement timeline.

How do I know if I am financially ready for retirement?

Financial readiness typically involves evaluating retirement savings, projected income, debt levels, anticipated expenses, and potential healthcare costs. Reviewing these factors can help identify strengths and potential gaps before retirement begins.

What are the biggest retirement planning mistakes to avoid?

Common retirement planning mistakes include underestimating expenses, overlooking healthcare costs, claiming Social Security without evaluating options, and failing to maintain an appropriate investment strategy. Regular reviews can help address changing circumstances and goals.

How can retirement planning help during a major life transition?

Retirement planning can provide structure and clarity during significant life events such as career changes, divorce, inheritance, widowhood, or relocation. A financial plan can help individuals and families reassess priorities and make informed decisions during periods of change.

What sources of income can support retirement?

Retirement income may come from multiple sources, including retirement accounts, pensions, Social Security benefits, personal savings, and taxable investment accounts. The appropriate mix depends on individual circumstances and retirement goals.

Should I work with a financial advisor for retirement planning?

A financial advisor can help evaluate retirement goals, income needs, savings strategies, and investment allocation. Professional guidance may be especially valuable for pre-retirees, retirees, and individuals navigating complex financial decisions.

Where can I find retirement planning guidance in Chesterfield, Missouri?

Individuals in Chesterfield, Missouri, and the greater St. Louis area can seek retirement planning guidance from financial professionals who help evaluate retirement goals, income needs, savings strategies, and long-term financial priorities.

*Neither LPL Financial, nor its registered representatives, offer tax or legal advice. Always consult a qualified attorney and/or tax advisor to discuss your particular situation.