Financial Planning Services – Broadview
The most common misunderstanding about financial planning is that it is all about investing. Of course investing is a part of financial planning as you should make intelligent investment decisions, but there's much more to it. Financial Planning is the method of developing strategies to help you take care of your financial affairs effectively and meet financial goals. It's a holistic method that helps you make smarter decisions by turning vague objectives into concrete strategies, giving a guide for action. Having a financial plan - and sticking with it - provides you with a real advantage when it comes to planning your retirement and other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Broadview
Often people say that they are saving for retirement or saving for their children's education. They seem like distinct goals, however they are really quite vague. Financial planning can discover the important numbers - How much do you need to save and also by when? If you aren't sure whether or not 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 gives you peace of mind and confidence. Whenever your situation changes from single to married, from renting to buying a house, having kids or caring for aging mothers and fathers, financial planning will help you make better-informed decisions.
Certified Financial Planners - Broadview
Most people don't have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed choices 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 objectives, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you will have the reassurance of knowing that an expert has reviewed your circumstances and that you're doing something positive 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 in financial terms.
Missing the big picture is an issue seen all too often with clients. If you're focused on the near-term rather than on much wider long-term implications, then you could end up impairing the accumulation of wealth. For example, counting on pre-tax returns for financial decision-making rather than knowing that different types of investments are subject to differing tax rates could be harmful for your financial wellness. A Certified Financial Planner can make you realize that the kind 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 hands. Lots of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you're worried about and you fail to 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 - Broadview
The influence of sound financial planning on overall 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 of the various components 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 start to make progress along each one of those spokes, you will begin to gain traction all round, and you'll see your ability to recognize your financial goals really start to take off. Further, 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 enjoy greater well-being, fret less, sleep better and have vibrant relationships.
Financial Planning is really a life process. Preferably, you should meet a financial planner as soon as possible in your lifetime and begin a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you're on the right track.
For more information, please don't hesitate to contact us at any time and we will be happy to help you!
