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Financial Planning Company – Lincolnwood

The most prevalent 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 so much more to it. Financial Planning is the process of creating strategies to help you control your financial affairs effectively and meet financial targets. It is a holistic process that can help you make smarter decisions by turning vague targets into concrete strategies, giving a road map for action. Having a financial plan - and sticking with it - gives you a real edge when it comes to planning your retirement along with other long-term financial and life goals.

Saving For Retirement and Your Child's Education - Lincolnwood

Often people say that they are saving for retirement or saving for their child's education. They sound like distinct goals, however they are really quite vague. Financial planning can discover the important numbers - How much should you save and by when? If you're 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 offers peace of mind and self-assurance. When your situation changes from single to married, from renting to buying a house, having kids or caring for aging mothers and fathers, financial planning can help you make better-informed choices.

Certified Financial Planners - Lincolnwood

Most people do not have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can provide 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 can help you choose among your priorities. Whatever you decide, you will have the secure feeling of knowing that a professional 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 implemented diligently - will take you where you want to go fiscally.

Missing the big picture is an issue seen all too often with clients. If you are centered on the near-term rather than on broader long-term implications, then you might wind up impairing the build up of wealth. For example, depending on pre-tax returns for financial decision-making rather than understanding that different types of investments are susceptible to differing tax rates might be damaging for your financial wellness. A Certified Financial Planner will 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 hand. A lot of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It is pre-tax returns you're concerned with and you fail to realize that there will be a drag on the ultimate amount of money you will have because of the tax liability which is waiting for you.

Influence of Financial Planning - Lincolnwood

The influence of sound financial planning on overall 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 different aspects of your financial life - like purchasing a home, saving for retirement, planning for children's education, owning your dream car, debt management etc - are spokes on the wheel. Once you begin to make progress along each one of those spokes, you'll start to gain traction overall, and you'll see your ability to realize your financial targets really start to take off. Additionally, everyone knows that one of the greatest causes of stress and conflict in relationships is money. Individuals and families who have mapped out a financial path appreciate greater well-being, fret less, sleep better and have strong relationships.

Financial Planning can be a life process. Essentially, you should meet a financial planner as early 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 track.

For more info, please don't hesitate to contact us at any time and we'll be happy to help you!

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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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