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Financial Planning Services – Dolton

The most common misunderstanding regarding financial planning is that it is all about investing. Needless to say investing is a part of financial planning as you should make smart investment choices, but there is 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 method that can help you make smarter decisions by turning vague objectives into concrete strategies, supplying a road map for action. Having a financial plan - and sticking to it - provides you with a real advantage when it comes to planning your retirement and other long-term financial and life goals.

Saving For Retirement and Your Child's Education - Dolton

Frequently individuals say that they're saving for retirement or saving for their children'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 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 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 parents, financial planning can help you make better-informed choices.

Certified Financial Planner - Dolton

The majority of people don't have limitless 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 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 year to achieve these objectives, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you will have the reassurance of knowing that a specialist 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 followed 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 are focused on the near-term rather than on broader long-term implications, then you could wind up impairing the build up of wealth. For instance, depending on pre-tax returns for financial decision-making instead of understanding that different types of investments are susceptible to differing tax rates might be damaging for your financial wellness. A Certified Financial Planner can make you realize that the kind of investment you choose impacts 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 hands. Lots of you fail to realize the delayed tax implications on the potential nest eggs. It's pre-tax returns you are concerned about and you fail to realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability that's waiting for you.

Impact of Financial Planning - Dolton

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 middle, each one of the various components of your financial life - like buying a house, saving for retirement, planning for children's education, owning your favorite luxury car, debt management and so forth - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you are going to begin to gain traction overall, and you will see your ability to recognize 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 cash. Individuals and also families who've mapped out a financial path appreciate greater well-being, fret less, sleep much better and have vibrant relationships.

Financial Planning is a life process. Preferably, you should meet a financial planner as soon as possible in your life and set up a long-term relationship. Then meet frequently 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!

Areas We Serve

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Arlington Heights - Aurora - Batavia - Bolingbrook - Bloomingdale - Buffalo Grove - Chicago - Cicero - Deerfield - Des Plaines - Dupage County - Elgin - Elmhurst - Evanston - Geneva - Highland Park - Lockport - Lombard - Naperville - New Lenox - North Barrington - Northbrook - Oak Lawn - Orland Park - Plainfield - Romeoville - Schaumburg - Wheaton

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