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Financial Planning Company – Blue Island

The most prevalent 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 wise investment decisions, but there's so much more to it. Financial Planning is the process of creating strategies to help you control your financial affairs efficiently and meet financial targets. It's a holistic process that can help you make better decisions by turning vague targets into concrete strategies, giving a guide for action. Having a financial plan - and sticking with it - gives you a real advantage with regards to planning your retirement and also other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Blue Island

Often people say that they're saving for retirement or saving for their little one's schooling. They sound like specific goals, but they're really quite vague. Financial planning can discover the key numbers - How much should you save and by when? If you are not sure whether you'll have enough to live on post-retirement, it can create anxiety. But once you know what you should do and that you are following the financial plan, it gives you peace of mind and assurance. When 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 Planners - Blue Island

Many people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make educated choices 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 targets, but you only have Rs. 1,000 extra each year to achieve these targets, a Certified Financial Planner will help you choose among your priorities. Whatever you decide, you'll have the peace of mind of knowing that an expert has reviewed your needs and that you're doing something beneficial for your financial situation. Financial planning offers a map with an action plan that - if implemented faithfully - will take you where you want to go fiscally.

Missing the big picture is an issue seen too frequently with clients. If you are focused on the near-term rather than on broader long-term implications, then you might wind up impairing the build up of wealth. For instance, relying on pre-tax returns for financial decision-making rather than understanding that different types of investments are susceptible to differing tax rates might be damaging 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 generates; it comes down to the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the future nest eggs. It's 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 which is waiting for you.

Impact of Financial Planning - Blue Island

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 one of the different elements of your financial life - like buying a house, saving for retirement, planning for children's education, owning your ideal car, debt management etc - are spokes to the wheel. Once you start to make progress along each one of those spokes, you'll begin to gain traction overall, and you will see your ability to recognize your financial targets 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've planned out a financial path enjoy greater well-being, worry less, sleep better and have strong relationships.

Financial Planning is a life process. Essentially, you need to meet a financial planner as soon as possible in your lifetime and set up a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you're on track.

For more info, please feel free to contact us at any time and we'll be happy to help you!

Areas We Serve

Proudly Serving:

Arlington Heights - Aurora - Batavia - Bolingbrook - Bloomingdale - Buffalo Grove - Chicago - Cicero - Deerfield - Des Plaines - Dupage County - Elgin - Elmhurst - Evanston - Geneva - Highland Park - Lockport - Lombard - Naperville - New Lenox - North Barrington - Northbrook - Oak Lawn - Orland Park - Plainfield - Romeoville - Schaumburg - Wheaton

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