Financial Planning Services – Elmwood Park, Illinois

The most popular misconception about financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as one should make wise investment decisions, but there's so much more to it. Financial Planning is the process of creating strategies to help you take care of your financial affairs efficiently and meet financial targets. It is a holistic method that can help you make smarter decisions by turning vague targets into concrete strategies, providing a guide for action. Having a financial plan - and sticking to it - will give you a true edge when it comes to planning your retirement and other long-term financial and life goals.

Retirement Planning/Children's Education Funds - Elmwood Park, Illinois

Often individuals say that they're saving for retirement or saving for their little one's education. They seem like distinct goals, but they're really quite vague. Financial planning can find the key numbers - How much should you save and by when? If you are not sure whether or not 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 house, having children or caring for aging parents, financial planning can help you make better-informed decisions.

Certified Financial Planners - Elmwood Park, Illinois

The majority of 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 options and prudently use the limited 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 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 a specialist has reviewed your situation and that you're doing something positive for your financial predicament. Financial planning offers a map with an action plan that - if followed 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 focused on the near-term rather than on broader long-term implications, then you may end up impairing the accumulation of wealth. For instance, relying on pre-tax returns for financial decision-making rather than understanding that various kinds of investments are susceptible to differing tax rates could be damaging for your financial well-being. A Certified Financial Planner will make you understand that the kind of investment you choose affects the after-tax return. Don't forget, it's not about the returns an investment produces; it comes down to the net income that comes in your hands. Many of you do not realize the delayed tax implications on the foreseeable future nest eggs. It is pre-tax returns you're concerned about and you do not realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability that is awaiting you.

Influence of Financial Planning - Elmwood Park, Illinois

The influence of sound financial planning on over-all financial well-being is multifold and also multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the heart, each one of the various components of your financial life - like buying a home, saving for retirement, planning for your children's education, owning your ideal car, debt management and so on - are spokes to the wheel. Once you start to make progress along every one of those spokes, you are going to start to gain traction overall, and you will see your ability to understand your financial targets really begin to take off. Additionally, everyone knows 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 enjoy greater well-being, fret less, sleep better and have strong relationships.

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

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