Financial Planning Services – Lemont
The most common misunderstanding about financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make wise investment decisions, but there's much more to it. Financial Planning is the process of developing strategies to help you take care of your financial affairs efficiently and meet financial targets. It is a holistic method that helps you make smarter decisions by turning vague targets into concrete strategies, giving a road map for action. Having a financial plan - and sticking to it - will give you a real edge with regards to planning your retirement along with other long-term financial and life goals.
Financial Planning For the Future - Lemont
Frequently individuals say that they're saving for retirement or saving for their child's education. They sound like 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're not sure whether you will 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 decisions.
Certified Financial Planner - Lemont
The majority of 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 knowledgeable choices and prudently use the limited 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 will help you choose among your priorities. Whatever you decide, you will have the reassurance of knowing that a professional has reviewed your circumstances and that you are doing something beneficial for your financial predicament. Financial planning offers a road map with an action plan that - if followed faithfully - will take you where you want to go financially.
Missing the big picture is an issue seen all too often with clients. If you're devoted to the near-term rather than on broader long-term implications, then you could end up impairing the accumulation of wealth. For instance, counting on pre-tax returns for financial decision-making rather than knowing that different types of investments are subject to differing tax rates could be harmful for your financial well-being. A Certified Financial Planner will make you realize that the type of investment you choose affects the after-tax return. Remember, it isn't about the returns an investment generates; it's about 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 are 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.
Impact of Financial Planning - Lemont
The impact 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 heart, 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 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 will start to gain traction all round, 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 cash. Individuals and families who have mapped out a financial path appreciate greater well-being, fret less, sleep better and have strong relationships.
Financial Planning is really a life process. Ideally, you should meet a financial planner as soon as possible in your life and generate a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you are on track.
For more information, please don't hesitate to contact us at any time and we'll be glad to help you!
