Financial Planning – Brookfield, Illinois
The most popular misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make sensible investment decisions, but there is a lot more to it. Financial Planning is the process of creating strategies to help you manage your financial affairs efficiently and meet financial targets. It's a holistic process that helps you make better decisions by turning vague goals into concrete plans, giving a map for action. Having a financial plan - and sticking with it - provides you with a real edge when it comes to planning your retirement as well as other long-term financial and life goals.
Saving For Retirement and Your Child's Education - Brookfield, Illinois
Frequently individuals say that they're saving for retirement or saving for their children's education. They sound like precise goals, however they are really quite vague. Financial planning can discover the important numbers - How much should you save and also by when? If you are not sure whether you'll have enough to live on post-retirement, it can create stress and anxiety. But when you know what you should do and that you are following the financial plan, it provides peace of mind and self-assurance. Whenever your situation changes from single to married, from renting to buying a house, having kids or caring for aging parents, financial planning can help you make better-informed decisions.
Certified Financial Planner - Brookfield, Illinois
The majority of people do not have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer 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 targets, but you only have Rs. 1,000 extra each and every year to achieve these goals, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a specialist has reviewed your circumstances and that you are doing something positive for your financial predicament. Financial planning provides a map with an action plan that - if implemented faithfully - will take you where you want to go financially.
Missing the big picture is an issue seen all too often with clients. If you're centered on the near-term rather than on broader long-term implications, then you could wind up impairing the build up 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 might be damaging for your financial well-being. A Certified Financial Planner will make you understand that the kind 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 hand. Lots of you do not realize the delayed tax implications on the future nest eggs. It is pre-tax returns you are concerned with and you do not realize that there will be a drag on the ultimate amount of cash you'll have because of the tax liability that is awaiting you.
Influence of Financial Planning - Brookfield, Illinois
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 heart, each of the different elements of your financial life - like buying 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 start to make progress along each one of those spokes, you are going to start to gain traction overall, and you'll see your ability to recognize your financial targets really start to take off. Further, everyone knows that one of the greatest causes of stress and conflict in relationships is cash. Individuals and families who have planned out a financial path appreciate greater well-being, fret less, sleep much better and have vibrant relationships.
Financial Planning is really a life process. Essentially, you need to meet a financial planner as early as possible in your lifetime and generate a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you are on the right track.
For more information, please do not hesitate to contact us at any time and we'll be happy to help you!
