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Financial Planning Services – Homer Glen

The most typical misconception 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 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 targets. It is a holistic method that can help you make better decisions by turning vague targets into concrete strategies, offering a road map for action. Having a financial plan - and sticking with it - will give you a real advantage when it comes to planning your retirement and also other long-term financial and life goals.

Saving For Retirement and Your Child's Education - Homer Glen

Frequently folks say that they're saving for retirement or saving for their children's education. They seem like specific goals, but they're really quite vague. Financial planning can find the important numbers - How much must you save and also by when? If you're 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 offers peace of mind and confidence. When your situation changes from single to married, from renting to buying a home, having children or caring for aging mothers and fathers, financial planning will help you make better-informed choices.

Certified Financial Planner - Homer Glen

Many people do not have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed decisions 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 targets, but you only have Rs. 1,000 extra each year to achieve these targets, 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 situation and that you are doing something beneficial for your financial situation. Financial planning provides a road map with an action plan that - if implemented diligently - will take you where you want to go in financial terms.

Missing the big picture is an issue seen all too often with clients. If you are focused on the near-term rather than on broader long-term implications, then you could end up impairing the accumulation of wealth. For example, depending on pre-tax returns for financial decision-making as opposed to understanding that different types of investments are subject to differing tax rates might be damaging for your financial health. A Certified Financial Planner can make you understand that the type of investment you choose impacts the after-tax return. Keep in mind, it isn't about the returns an investment creates; it's about the net income that comes in your hands. Lots of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you're worried about and you fail to 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.

Influence of Financial Planning - Homer Glen

The influence of sound financial planning on over-all 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 one of the various elements of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your ideal car, debt management and so on - are spokes to the wheel. Once you begin to make progress along each one of those spokes, you are going to begin to gain traction overall, and you will see your ability to recognize your financial targets really start to take off. Further, everyone knows that one of the greatest sources 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 is a life process. Essentially, you should meet a financial planner as soon as possible in your life and generate a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.

For more info, please feel free to contact us at any time and we will be happy to help you!

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