Financial Planning Services – Glendale Heights, IL
The most popular misunderstanding about financial planning is that it is all about investing. Of course investing is a part of financial planning as you should make intelligent investment choices, but there's a whole lot more to it. Financial Planning is the process of creating strategies to help you take care of your financial affairs effectively and meet financial targets. It is a holistic process that can help you make smarter decisions by turning vague targets into concrete plans, offering a map for action. Having a financial plan - and sticking with it - gives you a real edge with regards to planning your retirement and other long-term financial and life goals.
Saving For Retirement and Your Child's Education - Glendale Heights, IL
Often folks say that they're saving for retirement or saving for their children's schooling. They could be seen as specific goals, but they're really quite vague. Financial planning can discover the key numbers - How much should you save and by when? If you aren't sure whether or not you'll have enough to live on post-retirement, it can create stress and anxiety. But once 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 parents, financial planning will help you make better-informed choices.
Certified Financial Planners - Glendale Heights, IL
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 knowledgeable choices 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 every year to achieve these targets, a Certified Financial Planner will help you choose among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a professional has reviewed your situation and that you're doing something beneficial for your financial predicament. Financial planning offers a map with an action plan that - if followed diligently - will take you where you want to go fiscally.
Missing the big picture is an issue seen too often with clients. If you are devoted to the near-term rather than on broader long-term implications, then you may wind up impairing the build up of wealth. For instance, relying on pre-tax returns for financial decision-making as opposed to knowing that various kinds of investments are susceptible to differing tax rates could be damaging for your financial wellness. A Certified Financial Planner can make you realize that the kind of investment you choose affects the after-tax return. Keep 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 do not realize the delayed tax implications on the future nest eggs. It's pre-tax returns you are concerned about and you do not realize that there will be a drag on the ultimate amount of cash you'll have because of the tax liability which is waiting for you.
Influence of Financial Planning - Glendale Heights, IL
The influence of sound financial planning on overall 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 different elements of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your ideal car, debt management etc - are spokes to the wheel. Once you start to make progress along each one of those spokes, you'll begin to gain traction all round, and you will see your ability to recognize your financial targets really start to take off. Additionally, we all know that one of the greatest causes of stress and conflict in relationships is money. Individuals and also families who've planned out a financial path appreciate greater well-being, fret less, sleep much better and have strong relationships.
Financial Planning is a life process. Preferably, you need to meet a financial planner as soon as possible in your life and begin a long-term relationship. Then meet regularly 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!
