Financial Planning Services – Lake Zurich, IL
The most popular misunderstanding regarding financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as you should make intelligent investment decisions, but there's much more to it. Financial Planning is the method of creating strategies to help you control your financial affairs efficiently and meet financial goals. It is a holistic method that can help you make better decisions by turning vague goals into concrete plans, providing a map for action. Having a financial plan - and sticking to it - provides you with a real advantage when it comes to planning your retirement and also other long-term financial and life goals.
Financial Planning For the Future - Lake Zurich, IL
Often people say that they're saving for retirement or saving for their children's schooling. They could be seen as specific goals, however they are really quite vague. Financial planning can discover the important numbers - How much do you need to save and also by when? If you are not sure whether or not you will have enough to live on post-retirement, it can create anxiety. But once you know what you have to 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 home, having kids or caring for aging mothers and fathers, financial planning will help you make better-informed decisions.
Certified Financial Planner - Lake Zurich, IL
Most 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 informed options and prudently use the restricted resources for reaching financial freedom. Say, if you have identified retirement and funding your child's education as your financial goals, but you only have Rs. 1,000 extra every year to achieve these goals, a Certified Financial Planner will help you choose among your priorities. Whatever you decide, you will have the peace of mind of knowing that an expert has reviewed your circumstances and that you are doing something positive for your financial predicament. Financial planning provides 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 a problem seen too often with clients. If you're focused on the near-term rather than on broader long-term implications, then you could end up impairing the accumulation of wealth. For instance, relying on pre-tax returns for financial decision-making instead of knowing that different types of investments are subject to differing tax rates could be damaging for your financial health. A Certified Financial Planner will make you realize that the kind of investment you choose impacts the after-tax return. Keep in mind, it isn't about the returns an investment creates; it's about the net income that comes in your hands. Lots of you do not realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you're worried about and you do not realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability which is awaiting you.
Impact of Financial Planning - Lake Zurich, IL
The impact 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 center, each of the various elements of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your ideal car, debt management and so forth - are spokes to the wheel. Once you start to make progress along every one of those spokes, you will start to gain traction overall, and you will see your ability to understand your financial goals really start to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who have planned out a financial path appreciate greater well-being, worry less, sleep much better and have strong relationships.
Financial Planning is really a life process. Preferably, you should meet a financial planner as soon as possible in your life and generate a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you are on track.
For more information, please don't hesitate to contact us at any time and we will be happy to help you!
