Financial Planning Services – Crestwood
The most popular misconception about financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make intelligent investment choices, but there's a lot 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 method that can help you make better decisions by turning vague targets into concrete plans, giving a road map for action. Having a financial plan - and sticking to it - will give you a true edge when it comes to planning your retirement and also other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Crestwood
Frequently people say that they are saving for retirement or saving for their child's education. They sound like specific goals, however they are really quite vague. Financial planning can find the important numbers - How much should you save and also by when? If you are not sure whether or not you will 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 provides 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 can help you make better-informed choices.
Certified Financial Planners - Crestwood
Many people don't have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated 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 targets, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the reassurance of knowing that a specialist has reviewed your situation and that you are doing something beneficial for your financial predicament. Financial planning provides 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 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 accumulation of wealth. For instance, depending on pre-tax returns for financial decision-making rather than knowing that various kinds 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 kind of investment you choose has an effect on the after-tax return. Remember, it isn't about the returns an investment generates; it comes down to the net income that comes in your hand. Many 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 money you'll have because of the tax liability that's waiting for you.
Influence of Financial Planning - Crestwood
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 one of the various aspects of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your dream car, debt management and so forth - are spokes on the wheel. Once you start to make progress along every one of those spokes, you'll begin to gain traction overall, and you'll see your ability to realize your financial targets really start to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who've planned out a financial path enjoy greater well-being, worry less, sleep better and have vibrant 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 regularly to review the Financial Plan to make sure you are on track.
For more details, please do not hesitate to contact us at any time and we will be glad to help you!
