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Financial Planning Services – Franklin Park, Illinois

The most popular misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make smart investment choices, but there is much more to it. Financial Planning is the process of developing strategies to help you manage your financial affairs efficiently and meet financial goals. It's a holistic process that helps you make smarter decisions by turning vague goals into concrete plans, offering a guide for action. Having a financial plan - and sticking with it - will give you 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 - Franklin Park, Illinois

Often folks say that they are saving for retirement or saving for their child's education. They seem like specific goals, however they are really quite vague. Financial planning can find the key numbers - How much do you need to save and also 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 should do and that you are following the financial plan, it gives you peace of mind and confidence. When your situation changes from single to married, from renting to buying a house, having kids or caring for aging mothers and fathers, financial planning will help you make better-informed choices.

Certified Financial Planners - Franklin Park, Illinois

Many 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 options 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 goals, but you only have Rs. 1,000 extra each year to achieve these goals, a Certified Financial Planner will help you choose among your priorities. Whatever you decide, you'll have the secure feeling of knowing that an expert has reviewed your needs and that you're doing something positive for your financial predicament. Financial planning offers 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 an issue seen too often with clients. If you're focused on the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For instance, depending on pre-tax returns for financial decision-making rather than knowing that different types of investments are susceptible to differing tax rates could be harmful for your financial wellness. A Certified Financial Planner will make you realize that the type of investment you choose impacts the after-tax return. Don't forget, it isn't about the returns an investment creates; it comes down to the net income that comes in your hand. Many of you do not realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you're concerned with and you do not 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.

Influence of Financial Planning - Franklin Park, Illinois

The impact 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 of the various components of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your favorite luxury car, debt management and so on - are spokes to the wheel. Once you start to make progress along each one of those spokes, you will start to gain traction all round, and you will see your ability to realize your financial goals really start to take off. Additionally, everyone knows 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 vibrant relationships.

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

For more details, please feel free to contact us at any time and we'll be happy to help you!

Areas We Serve

Proudly Serving:

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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