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Financial Planning Services – Hometown

The most common misconception regarding financial planning is that it is all about investing. Needless to say investing is a part of financial planning as you should make sensible investment decisions, but there is much more to it. Financial Planning is the process of developing strategies to help you manage your financial affairs effectively and meet financial targets. It is a holistic process that helps you make smarter decisions by turning vague goals into concrete strategies, offering a map for action. Having a financial plan - and sticking with it - provides you with a real advantage with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Hometown

Frequently people say that they're saving for retirement or saving for their little one's schooling. They sound like distinct goals, but they're really quite vague. Financial planning can find the key numbers - How much should you save and also by when? If you are not sure whether or not you'll have enough to live on post-retirement, it can create anxiety. But once you know what you should do and that you are following the financial plan, it gives you peace of mind and assurance. 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 decisions.

Certified Financial Planner - Hometown

Many 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 choices and prudently use the restricted resources for attaining 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 and every year to achieve these goals, 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 circumstances and that you're doing something positive for your financial situation. Financial planning provides 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 an issue seen too often with clients. If you're devoted to the near-term rather than on broader long-term implications, then you might end up impairing the build up of wealth. For instance, depending on pre-tax returns for financial decision-making instead of understanding that different types of investments are susceptible to differing tax rates might be damaging for your financial wellness. A Certified Financial Planner can make you realize that the type of investment you choose has an effect on the after-tax return. Remember, it isn't about the returns an investment generates; it comes down to the net income that comes in your hands. Many 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.

Impact of Financial Planning - Hometown

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 of the different components of your financial life - like buying a house, saving for retirement, planning for children's education, owning your ideal car, debt management and so on - are spokes to the wheel. Once you start to make progress along every one of those spokes, you'll start to gain traction overall, and you will see your ability to understand your financial targets 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 better and have strong relationships.

Financial Planning is a life process. Preferably, you should meet a financial planner as early 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 information, please feel free to contact us at any time and we will be happy to help you!

Areas We Serve

Proudly Serving:

Arlington Heights - Aurora - Batavia - Bolingbrook - Bloomingdale - Buffalo Grove - Chicago - Cicero - Deerfield - Des Plaines - Dupage County - Elgin - Elmhurst - Evanston - Geneva - Highland Park - Lockport - Lombard - Naperville - New Lenox - North Barrington - Northbrook - Oak Lawn - Orland Park - Plainfield - Romeoville - Schaumburg - Wheaton

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