Financial Planning Services – Lemont, IL
The most common misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make sensible investment choices, but there is much more to it. Financial Planning is the process of creating strategies to help you take care of your financial affairs effectively and meet financial targets. It's a holistic method that can help you make better decisions by turning vague targets into concrete plans, providing a map for action. Having a financial plan - and sticking to it - gives 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 - Lemont, IL
Frequently people say that they are saving for retirement or saving for their children's education. They could be seen as specific goals, but they're really quite vague. Financial planning can find the key numbers - How much must you save and also by when? If you aren't sure whether you will 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 offers peace of mind and self-assurance. Whenever your situation changes from single to married, from renting to buying a home, having kids or caring for aging parents, financial planning can help you make better-informed choices.
Certified Financial Planners - Lemont, IL
Most people don't have limitless resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make educated decisions 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 year to achieve these targets, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you will have the reassurance of knowing that a specialist has reviewed your needs and that you are doing something beneficial for your financial predicament. Financial planning supplies a map with an action plan that - if implemented faithfully - will take you where you want to go fiscally.
Missing the big picture is a problem seen too often with clients. If you're centered on the near-term rather than on much wider long-term implications, then you may wind up impairing the build up of wealth. For example, counting on pre-tax returns for financial decision-making instead of understanding that various kinds of investments are susceptible to differing tax rates could be harmful for your financial well-being. A Certified Financial Planner will make you realize that the kind of investment you choose impacts the after-tax return. Bear in mind, it isn't about the returns an investment produces; it comes down to the net income that comes in your hand. Many of you do not realize the delayed tax implications on the future nest eggs. It's pre-tax returns you're worried about 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's awaiting you.
Influence of Financial Planning - Lemont, IL
The influence of sound financial planning on over-all 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 of the various elements of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your dream car, debt management and so forth - are spokes to the wheel. Once you start to make progress along every one of those spokes, you are going to start to gain traction overall, and you'll see your ability to understand your financial targets really start to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is cash. Individuals and families who've planned out a financial path appreciate greater well-being, worry less, sleep better and have vibrant relationships.
Financial Planning is really a life process. Essentially, you need to meet a financial planner as soon as possible in your life and set up a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.
For more information, please feel free to contact us at any time and we will be glad to help you!
