Financial Planning Services – Aurora, Illinois

The most typical misconception about financial planning is that it is all about investing. Of course investing is a part of financial planning as you should make wise investment decisions, but there is a whole lot more to it. Financial Planning is the method of creating strategies to help you control your financial affairs efficiently and meet financial targets. It's a holistic method that helps you make smarter decisions by turning vague targets into concrete strategies, offering a road map for action. Having a financial plan - and sticking to it - gives you a real advantage when it comes to planning your retirement and also other long-term financial and life goals.

Financial Planning For the Future - Aurora, Illinois

Often folks say that they're saving for retirement or saving for their child's education. They seem like specific goals, however they are really quite vague. Financial planning can discover the important numbers - How much do you need to save and by when? If you are not sure whether 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 gives you peace of mind and confidence. 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 decisions.

Certified Financial Planners - Aurora, Illinois

Many people do not have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make knowledgeable choices 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 targets, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the reassurance of knowing that a professional has reviewed your circumstances and that you are doing something beneficial for your financial situation. Financial planning provides a map with an action plan that - if implemented diligently - will take you where you want to go financially.

Missing the big picture is an issue seen too frequently with clients. If you are centered on the near-term rather than on much wider long-term implications, then you may wind up impairing the accumulation of wealth. For instance, relying on pre-tax returns for financial decision-making as opposed to understanding 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 understand that the type of investment you choose affects the after-tax return. Remember, it's not about the returns an investment generates; it's about the net income that comes in your hand. Many of you fail to realize the delayed tax implications on the future nest eggs. It is 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 will have because of the tax liability that is waiting for you.

Influence of Financial Planning - Aurora, Illinois

The impact of sound financial planning on overall financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the middle, each of the different components of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your favorite luxury car, debt management and so forth - are spokes on the wheel. Once you start to make progress along each one of those spokes, you'll start to gain traction overall, and you'll see your ability to realize your financial targets really start to take off. Additionally, we all know that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who have planned out a financial path appreciate greater well-being, worry less, sleep better and have vibrant relationships.

Financial Planning can be a life process. Ideally, you should meet a financial planner as soon as possible in your lifetime and establish a long-term relationship. Then meet regularly to review the Financial Plan to make sure you are on track.

For more details, please do not hesitate to contact us at any time and we will be happy to help you!