Financial Planning – Aurora, IL
The most common misunderstanding about financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make sensible investment decisions, but there's a whole lot more to it. Financial Planning is the method of creating strategies to help you manage your financial affairs efficiently and meet financial goals. It's a holistic process that helps you make smarter decisions by turning vague goals into concrete strategies, supplying a guide for action. Having a financial plan - and sticking to it - will give you a real edge with regards to planning your retirement and other long-term financial and life goals.
Financial Planning For the Future - Aurora, IL
Frequently folks say that they are saving for retirement or saving for their little one's education. They could be seen as distinct goals, but they're really quite vague. Financial planning can discover the important numbers - How much must you save and by when? If you are not sure whether you will have enough to live on post-retirement, it can create stress and anxiety. But once you know what you have to do and that you are following the financial plan, it provides peace of mind and confidence. When your situation changes from single to married, from renting to buying a house, having children or caring for aging parents, financial planning will help you make better-informed decisions.
Certified Financial Planners - Aurora, IL
Many people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated options and prudently use the restricted resources for attaining 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 select among your priorities. Whatever you decide, you will have the peace of mind of knowing that an expert has reviewed your needs and that you are doing something positive for your financial situation. Financial planning offers a road map with an action plan that - if followed diligently - 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 centered on the near-term rather than on much wider long-term implications, then you might wind up impairing the build up of wealth. For instance, counting on pre-tax returns for financial decision-making rather than understanding 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 type of investment you choose impacts the after-tax return. Don't forget, it isn't about the returns an investment generates; it's about the net income that comes in your hand. Many of you do not realize the delayed tax implications on the future nest eggs. It is pre-tax returns you are worried about and you do not realize that there will be a drag on the ultimate amount of money you'll have because of the tax liability which is awaiting you.
Impact of Financial Planning - Aurora, 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 one of the various components of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your dream car, debt management and so on - are spokes on the wheel. Once you begin to make progress along every one of those spokes, you are going to start to gain traction overall, and you will see your ability to realize your financial goals really begin to take off. Further, we all know that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who've mapped out a financial path appreciate greater well-being, worry less, sleep much better and have vibrant relationships.
Financial Planning is really a life process. Essentially, you need to meet a financial planner as early as possible in your life and begin a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.
For more details, please don't hesitate to contact us at any time and we'll be glad to help you!
