Financial Planning Services – Golf, Illinois
The most prevalent 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 decisions, but there is a lot more to it. Financial Planning is the method of developing strategies to help you manage your financial affairs efficiently and meet financial goals. It's a holistic process that can help you make smarter decisions by turning vague targets into concrete plans, providing a map for action. Having a financial plan - and sticking with it - gives you a real advantage with regards to planning your retirement as well as other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Golf, Illinois
Frequently individuals say that they're saving for retirement or saving for their children's schooling. They seem like specific goals, but they're really quite vague. Financial planning can discover the important numbers - How much should you save and also by when? If you're not sure whether or not you will have enough to live on post-retirement, it can create stress and anxiety. But once you know what you have to do and that you are following the financial plan, it gives you peace of mind and confidence. Whenever your situation changes from single to married, from renting to buying a home, having kids or caring for aging mothers and fathers, financial planning will help you make better-informed decisions.
Certified Financial Planner - Golf, Illinois
Most people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed choices and prudently use the limited resources for reaching financial freedom. Say, if you have identified retirement and funding your child's education as your financial goals, but you only have Rs. 1,000 extra every year to achieve these targets, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you will have the secure feeling of knowing that an expert has reviewed your circumstances and that you're doing something positive for your financial situation. Financial planning provides a map with an action plan that - if followed diligently - 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 devoted to the near-term rather than on much wider long-term implications, then you might end up impairing the build up of wealth. For example, counting on pre-tax returns for financial decision-making as opposed to knowing that various kinds of investments are susceptible to differing tax rates might be harmful for your financial well-being. A Certified Financial Planner will make you realize that the kind of investment you choose affects the after-tax return. Keep in mind, it isn't about the returns an investment creates; it comes down to the net income that comes in your hands. A lot of you do not realize the delayed tax implications on the foreseeable future nest eggs. It is 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 will have because of the tax liability that is awaiting you.
Impact of Financial Planning - Golf, Illinois
The impact of sound financial planning on overall financial well-being is multifold and also multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the middle, each of the different aspects of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so on - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you'll begin to gain traction overall, and you will see your ability to realize your financial goals really start to take off. Additionally, everyone knows that one of the greatest causes of stress and conflict in relationships is money. Individuals and also families who have planned out a financial path enjoy greater well-being, fret less, sleep better and have strong relationships.
Financial Planning can be a life process. Ideally, you need to meet a financial planner as soon as possible in your life and establish a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on track.
For more details, please do not hesitate to contact us at any time and we'll be happy to help you!
