Financial Planning – Lemont, Illinois

The most prevalent misunderstanding about financial planning is that it is centered on investing. Of course investing is a part of financial planning as you should make intelligent investment choices, but there's so much more to it. Financial Planning is the process of creating strategies to help you control your financial affairs efficiently and meet financial goals. It's a holistic method that can help you make better decisions by turning vague goals into concrete plans, offering a map for action. Having a financial plan - and sticking with it - provides you with a real edge when it comes to planning your retirement and also other long-term financial and life goals.

Financial Planning For the Future - Lemont, Illinois

Often individuals say that they're saving for retirement or saving for their child's schooling. They sound like distinct goals, however they are 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 once you know what you should do and that you are following the financial plan, it gives you peace of mind and self-assurance. When 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 Planner - Lemont, Illinois

Many people don't have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make knowledgeable options and prudently use the limited resources for reaching 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 each year to achieve these goals, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the reassurance of knowing that a specialist has reviewed your situation and that you're doing something positive for your financial predicament. Financial planning provides a map with an action plan that - if implemented faithfully - will take you where you want to go in financial terms.

Missing the big picture is a problem seen all too often with clients. If you are devoted to the near-term rather than on broader long-term implications, then you could wind up impairing the build up of wealth. For example, depending on pre-tax returns for financial decision-making as opposed to understanding that various kinds 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 kind of investment you choose has an effect on the after-tax return. Bear in mind, it isn't about the returns an investment creates; it's about the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you are concerned about and you fail to 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, Illinois

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 different components of your financial life - like buying a house, saving for retirement, planning for your children's education, owning your ideal car, debt management and so forth - are spokes to the wheel. Once you begin to make progress along every one of those spokes, you are going to start to gain traction all round, and you will see your ability to understand your financial goals really start to take off. Additionally, we all know that one of the greatest causes of stress and conflict in relationships is money. Individuals and families who have mapped out a financial path enjoy greater well-being, fret less, sleep much better and have strong relationships.

Financial Planning can be a life process. Essentially, you should meet a financial planner as soon as possible in your life 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 information, please feel free to contact us at any time and we'll be happy to help you!