Financial Planning Services – Highland Park, Illinois
The most common misunderstanding regarding financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as you should make wise investment decisions, but there is a whole lot more to it. Financial Planning is the method of creating strategies to help you manage your financial affairs effectively and meet financial goals. It's a holistic method that can help you make smarter decisions by turning vague goals into concrete strategies, supplying a road map for action. Having a financial plan - and sticking to it - gives you a real edge when it comes to planning your retirement along with other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Highland Park, Illinois
Frequently folks say that they are saving for retirement or saving for their little one's schooling. They sound like distinct goals, however they are really quite vague. Financial planning can find the key numbers - How much must 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 provides peace of mind and confidence. Whenever your situation changes from single to married, from renting to buying a home, having children or caring for aging parents, financial planning can help you make better-informed decisions.
Certified Financial Planner - Highland Park, Illinois
Most people don't have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed decisions and prudently use the restricted resources for attaining 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 every year to achieve these goals, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a specialist has reviewed your needs and that you're doing something positive for your financial predicament. Financial planning offers a map with an action plan that - if implemented diligently - will take you where you want to go financially.
Missing the big picture is an issue seen all too often with clients. If you are centered on the near-term rather than on broader long-term implications, then you may end up impairing the build up of wealth. For instance, counting on pre-tax returns for financial decision-making rather than knowing that various kinds of investments are subject to differing tax rates might be damaging for your financial health. A Certified Financial Planner can make you realize that the type of investment you choose affects the after-tax return. Remember, it's not about the returns an investment produces; it comes down to the net income that comes in your hand. Lots 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 cash you'll have because of the tax liability that is awaiting you.
Influence of Financial Planning - Highland Park, Illinois
The impact of sound financial planning on over-all financial well-being is multifold and multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the center, each one of the different elements of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your ideal car, debt management and so on - are spokes on the wheel. Once you begin to make progress along each one of those spokes, you'll start to gain traction overall, and you'll see your ability to realize your financial goals really start to take off. Further, everyone knows that one of the greatest causes of stress and conflict in relationships is money. Individuals and families who have planned out a financial path appreciate greater well-being, fret less, sleep much better and have vibrant 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're on the right track.
For more info, please don't hesitate to contact us at any time and we'll be glad to help you!
