Financial Planning – Darien, Illinois
The most common misconception about financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make wise investment decisions, but there is 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 is a holistic method that helps you make smarter decisions by turning vague goals into concrete plans, offering a guide for action. Having a financial plan - and sticking with it - will give you a true edge when it comes to planning your retirement and other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Darien, Illinois
Frequently people say that they are saving for retirement or saving for their children's schooling. They seem like distinct goals, but they're really quite vague. Financial planning can discover the key numbers - How much must you save and by when? If you aren't sure whether you'll have enough to live on post-retirement, it can create stress and anxiety. But when you know what you should do and that you are following the financial plan, it offers peace of mind and confidence. Whenever your situation changes from single to married, from renting to buying a house, having children or caring for aging mothers and fathers, financial planning can help you make better-informed decisions.
Certified Financial Planner - Darien, Illinois
The majority of people don't have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated decisions and prudently use the restricted resources for attaining 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 and every year to achieve these goals, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a specialist has reviewed your needs and that you're doing something positive for your financial predicament. Financial planning supplies a road map with an action plan that - if implemented diligently - will take you where you want to go in financial terms.
Missing the big picture is an issue seen all too often with clients. If you're devoted to the near-term rather than on broader long-term implications, then you may end up impairing the build up of wealth. For example, relying on pre-tax returns for financial decision-making as opposed to understanding that different types of investments are susceptible to differing tax rates might be harmful for your financial health. A Certified Financial Planner will make you realize that the kind of investment you choose impacts the after-tax return. Remember, it's not about the returns an investment creates; it's about the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the future nest eggs. It is pre-tax returns you're 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 is awaiting you.
Influence of Financial Planning - Darien, Illinois
The influence of sound financial planning on over-all financial well-being is multifold and multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the heart, each of the different elements of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your ideal car, debt management etc - are spokes on the wheel. Once you begin to make progress along each one of those spokes, you will start to gain traction overall, and you will see your ability to understand your financial targets really begin to take off. Further, everyone knows that one of the greatest causes of stress and conflict in relationships is cash. Individuals and families who've mapped out a financial path enjoy greater well-being, worry less, sleep better and have strong relationships.
Financial Planning is really a life process. Preferably, you should meet a financial planner as early as possible in your life and establish a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on the right track.
For more details, please do not hesitate to contact us at any time and we'll be glad to help you!
