Financial Planning Company – Cicero, IL
The most prevalent misconception regarding financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make sensible investment choices, but there's so much more to it. Financial Planning is the method of creating strategies to help you manage your financial affairs efficiently and meet financial targets. It's a holistic process that helps you make better decisions by turning vague targets into concrete plans, offering a map for action. Having a financial plan - and sticking to it - gives you a real advantage when it comes to planning your retirement as well as other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Cicero, IL
Often people say that they're saving for retirement or saving for their little one's education. They sound like specific goals, however they are really quite vague. Financial planning can discover the key numbers - How much must you save and also by when? If you're not sure whether or not you will have enough to live on post-retirement, it can create anxiety. But when you know what you should do and that you are following the financial plan, it provides peace of mind and self-assurance. Whenever your situation changes from single to married, from renting to buying a home, having children or caring for aging mothers and fathers, financial planning can help you make better-informed choices.
Certified Financial Planner - Cicero, IL
Many people don't have limitless resources. In such a situation, Financial Planning through a Certified Financial Planner can provide advice on how best to make informed options and prudently use the limited resources for reaching financial freedom. Say, if you have identified retirement and funding your son or daughter's education as your financial targets, but you only have Rs. 1,000 extra each year to achieve these targets, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you will have the secure feeling of knowing that a specialist has reviewed your circumstances and that you are doing something beneficial for your financial predicament. Financial planning supplies a map with an action plan that - if implemented faithfully - will take you where you want to go in financial terms.
Missing the big picture is a problem seen all too often with clients. If you are focused on the near-term rather than on broader long-term implications, then you may end up impairing the accumulation of wealth. For example, depending on pre-tax returns for financial decision-making as opposed to knowing that various kinds of investments are subject to differing tax rates could be damaging for your financial well-being. A Certified Financial Planner can make you realize that the type of investment you choose impacts the after-tax return. Don't forget, it's not about the returns an investment produces; it comes down to the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you are concerned about and you fail to realize that there will be a drag on the ultimate amount of cash you'll have because of the tax liability that's waiting for you.
Influence of Financial Planning - Cicero, IL
The influence of sound financial planning on over-all financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the heart, each one of the various components of your financial life - like buying a house, saving for retirement, planning for your children's education, owning your dream car, debt management and so forth - are spokes on the wheel. Once you begin to make progress along each one of those spokes, you will begin to gain traction all round, and you will see your ability to recognize your financial targets really begin to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who have mapped out a financial path appreciate greater well-being, worry less, sleep much better and have strong relationships.
Financial Planning can be a life process. Ideally, you need to meet a financial planner as soon as possible in your lifetime and set up a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you are on track.
For more details, please feel free to contact us at any time and we will be glad to help you!
