Financial Planning Company – Bartlett, IL
The most typical misconception regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make intelligent investment choices, but there's so much more to it. Financial Planning is the process of developing strategies to help you control your financial affairs effectively and meet financial goals. It is a holistic process that helps you make smarter decisions by turning vague targets into concrete plans, offering a road map for action. Having a financial plan - and sticking with it - gives you a true edge 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 - Bartlett, IL
Frequently individuals say that they are saving for retirement or saving for their little one's education. They sound like specific 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 anxiety. But when you know what you should do and that you are following the financial plan, it offers peace of mind and self-assurance. When 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 choices.
Certified Financial Planner - Bartlett, IL
Many people do not have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated choices and prudently use the limited resources for attaining financial freedom. Say, if you have identified retirement and funding your son or daughter's education as your financial goals, but you only have Rs. 1,000 extra every year to achieve these targets, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you will have the peace of mind of knowing that a professional has reviewed your needs and that you're doing something beneficial for your financial situation. Financial planning supplies a road map with an action plan that - if implemented faithfully - will take you where you want to go fiscally.
Missing the big picture is a problem seen all too often with clients. If you're devoted to the near-term rather than on much wider long-term implications, then you may end up impairing the build up of wealth. For example, counting on pre-tax returns for financial decision-making instead of knowing that different types of investments are subject to differing tax rates might be harmful for your financial wellness. 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 comes down to the net income that comes in your hand. Lots of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It is pre-tax returns you are concerned with 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's waiting for you.
Impact of Financial Planning - Bartlett, IL
The influence of sound financial planning on overall financial well-being is multifold and also multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the center, each one of the various elements of your financial life - like buying a house, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so on - are spokes to the wheel. Once you begin to make progress along every one of those spokes, you will begin to gain traction overall, and you'll see your ability to recognize your financial goals really start to take off. Additionally, everyone knows that one of the greatest sources of stress and conflict in relationships is money. Individuals and also families who have planned out a financial path appreciate greater well-being, worry less, sleep much better and have vibrant relationships.
Financial Planning is a life process. Ideally, you should meet a financial planner as early as possible in your lifetime and establish a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on track.
For more information, please feel free to contact us at any time and we will be glad to help you!
