Financial Planning – Calumet City, Illinois

The most prevalent misconception about financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make wise investment choices, but there is so much more to it. Financial Planning is the process of developing strategies to help you take care of your financial affairs efficiently and meet financial goals. It's a holistic method that can help you make better decisions by turning vague goals into concrete strategies, providing a guide for action. Having a financial plan - and sticking to it - provides you with a true advantage with regards to planning your retirement and also other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Calumet City, Illinois

Often people say that they are saving for retirement or saving for their children's education. They seem like specific goals, however they are really quite vague. Financial planning can discover the key numbers - How much should you save and also by when? If you're not sure whether or not you'll 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 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 choices.

Certified Financial Planner - Calumet City, Illinois

Many people do not have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make knowledgeable decisions 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 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 an expert has reviewed your circumstances and that you're doing something positive for your financial situation. Financial planning offers a map with an action plan that - if implemented diligently - will take you where you want to go fiscally.

Missing the big picture is a problem seen all too often with clients. If you are focused on the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For instance, relying on pre-tax returns for financial decision-making instead of knowing that various kinds of investments are susceptible to differing tax rates could be damaging for your financial health. A Certified Financial Planner will make you understand that the type of investment you choose affects the after-tax return. Bear 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 do not realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you are concerned about 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's awaiting you.

Impact of Financial Planning - Calumet City, Illinois

The impact of sound financial planning on over-all financial well-being is multifold and also multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the center, each of the different aspects of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your dream car, debt management etc - are spokes to the wheel. Once you start to make progress along every one of those spokes, you'll start to gain traction all round, and you'll see your ability to realize your financial goals really begin to take off. Further, we all know that one of the greatest causes of stress and conflict in relationships is cash. Individuals and also families who have mapped out a financial path appreciate greater well-being, worry less, sleep better and have strong relationships.

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

For more information, please do not hesitate to contact us at any time and we will be glad to help you!