Financial Planning Services – Bedford Park, IL
The most popular misconception regarding 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 a lot more to it. Financial Planning is the process of developing strategies to help you manage your financial affairs efficiently and meet financial goals. It is a holistic method that can help you make smarter decisions by turning vague targets into concrete plans, offering a road map for action. Having a financial plan - and sticking to it - gives you a true edge with regards to planning your retirement along with other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Bedford Park, IL
Frequently people say that they are saving for retirement or saving for their children's schooling. They sound like specific goals, but they're really quite vague. Financial planning can find the key numbers - How much should you save and by when? If you're 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 provides peace of mind and assurance. 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 will help you make better-informed decisions.
Certified Financial Planner - Bedford Park, IL
The majority of people do not have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make informed decisions and prudently use the restricted resources for reaching 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 each and every year to achieve these targets, a Certified Financial Planner will help you choose among your priorities. Whatever you decide, you will have the secure feeling of knowing that a professional has reviewed your circumstances and that you're doing something positive for your financial predicament. Financial planning offers a map with an action plan that - if followed diligently - will take you where you want to go financially.
Missing the big picture is a problem seen all too often with clients. If you're focused on the near-term rather than on broader long-term implications, then you may end up impairing the accumulation of wealth. For example, counting on pre-tax returns for financial decision-making instead of knowing that various kinds of investments are subject to differing tax rates might be harmful for your financial wellness. A Certified Financial Planner can make you understand that the type of investment you choose has an effect on the after-tax return. Keep in mind, it isn't about the returns an investment creates; it comes down to the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the potential nest eggs. It's pre-tax returns you're concerned about and you fail to realize that there will be a drag on the ultimate amount of money you will have because of the tax liability which is waiting for you.
Influence of Financial Planning - Bedford Park, IL
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 heart, each of the various aspects 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 forth - 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 all round, and you'll see your ability to realize your financial goals really begin to take off. Additionally, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who've planned out a financial path appreciate greater well-being, worry less, sleep better and have vibrant relationships.
Financial Planning is a life process. Preferably, you should meet a financial planner as soon as possible in your life and set up a long-term relationship. Then meet regularly to review the Financial Plan to make sure you're on the right track.
For more information, please do not hesitate to contact us at any time and we will be happy to help you!
