Financial Planning Services – Harwood Heights, Illinois

The most common misunderstanding about financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make smart investment choices, but there's a lot more to it. Financial Planning is the process of developing strategies to help you take care of your financial affairs effectively and meet financial goals. It's a holistic method that can help you make smarter decisions by turning vague targets into concrete plans, offering a guide for action. Having a financial plan - and sticking with it - provides you with a real edge with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning/Children's Education Funds - Harwood Heights, Illinois

Often folks say that they are saving for retirement or saving for their children's education. They could be seen as distinct goals, but they're really quite vague. Financial planning can discover the key numbers - How much do you need to save and by when? If you are not sure whether or not 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 assurance. Whenever your situation changes from single to married, from renting to buying a house, having children or caring for aging parents, financial planning will help you make better-informed choices.

Certified Financial Planner - Harwood Heights, Illinois

The majority of people do not have limitless 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 limited resources for attaining 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 each 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 needs and that you are doing something beneficial for your financial situation. Financial planning offers a road map with an action plan that - if followed diligently - will take you where you want to go fiscally.

Missing the big picture is a problem seen too often with clients. If you are centered on the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For instance, counting on pre-tax returns for financial decision-making instead of knowing that different types of investments are subject to differing tax rates could be harmful for your financial health. A Certified Financial Planner can make you understand that the type of investment you choose impacts the after-tax return. Bear in mind, it's not about the returns an investment produces; 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's 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 which is awaiting you.

Influence of Financial Planning - Harwood Heights, Illinois

The influence of sound financial planning on overall financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the center, each one of the various components of your financial life - like buying a house, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so forth - are spokes on the wheel. Once you begin to make progress along every one of those spokes, you are going to begin to gain traction all round, and you will see your ability to recognize your financial goals really begin to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who have planned out a financial path enjoy greater well-being, worry less, sleep much better and have strong relationships.

Financial Planning can be a life process. Essentially, you should meet a financial planner as early as possible in your lifetime and establish a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on the right track.

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