Financial Planning Services – Crest Hill, IL
The most popular 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 smart investment decisions, but there's much more to it. Financial Planning is the method of developing strategies to help you control your financial affairs effectively and meet financial targets. It is a holistic process that helps you make better decisions by turning vague targets into concrete strategies, offering a guide for action. Having a financial plan - and sticking with it - gives you a true advantage with regards to planning your retirement as well as other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Crest Hill, IL
Frequently folks say that they're saving for retirement or saving for their child's schooling. They could be seen as distinct goals, however they are really quite vague. Financial planning can find the important 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 stress and anxiety. But when you know what you have to do and that you are following the financial plan, it offers peace of mind and self-assurance. When your situation changes from single to married, from renting to buying a home, having kids or caring for aging mothers and fathers, financial planning can help you make better-informed decisions.
Certified Financial Planner - Crest Hill, IL
The majority of people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated decisions and prudently use the limited resources for attaining financial freedom. Say, if you have identified retirement and funding your child's education as your financial targets, but you only have Rs. 1,000 extra each and every year to achieve these targets, 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 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 in financial terms.
Missing the big picture is a problem seen too often with clients. If you're devoted to the near-term rather than on broader long-term implications, then you might end up impairing the accumulation of wealth. For example, counting on pre-tax returns for financial decision-making rather than understanding that various kinds of investments are subject 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 impacts the after-tax return. Bear in mind, it's not about the returns an investment creates; 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 will have because of the tax liability that's waiting for you.
Impact of Financial Planning - Crest Hill, IL
The impact of sound financial planning on over-all financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the middle, each of the various elements of your financial life - like buying a home, saving for retirement, planning for children's education, owning your dream car, debt management etc - 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 realize your financial targets really start to take off. Further, we all know that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who have mapped out a financial path appreciate greater well-being, fret less, sleep better and have strong relationships.
Financial Planning is a life process. Preferably, you should meet a financial planner as early as possible in your lifetime and begin a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on the right track.
For more details, please feel free to contact us at any time and we will be happy to help you!
