Financial Planning Services – Lisle, Illinois

The most popular misconception regarding financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as you should make wise investment decisions, but there is much more to it. Financial Planning is the process of creating strategies to help you manage your financial affairs efficiently and meet financial targets. It is a holistic process that helps you make better decisions by turning vague targets into concrete strategies, supplying a map for action. Having a financial plan - and sticking to it - provides you with a real edge with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning/Children's Education Funds - Lisle, Illinois

Often individuals say that they're saving for retirement or saving for their child's schooling. They seem like specific goals, but they're really quite vague. Financial planning can discover the key numbers - How much must you save and by when? If you're not sure whether or not you'll have enough to live on post-retirement, it can create stress and 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. Whenever your situation changes from single to married, from renting to buying a house, having kids or caring for aging parents, financial planning can help you make better-informed decisions.

Certified Financial Planners - Lisle, Illinois

Many people don't have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed options and prudently use the restricted resources for reaching financial freedom. Say, if you have identified retirement and funding your son or daughter'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 select among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a professional has reviewed your circumstances and that you are doing something beneficial for your financial predicament. Financial planning supplies a map with an action plan that - if followed faithfully - will take you where you want to go fiscally.

Missing the big picture is an issue seen all too often with clients. If you're focused on the near-term rather than on much wider long-term implications, then you could end up impairing the accumulation of wealth. For example, counting on pre-tax returns for financial decision-making instead of knowing that different types of investments are susceptible to differing tax rates could be damaging for your financial well-being. A Certified Financial Planner can make you understand that the type of investment you choose affects the after-tax return. Remember, it's not about the returns an investment creates; it comes down to the net income that comes in your hands. Lots of you fail to realize the delayed tax implications on the future nest eggs. It's 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 will have because of the tax liability that is awaiting you.

Influence of Financial Planning - Lisle, Illinois

The impact of sound financial planning on overall financial well-being is multifold and also multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the center, each one of the different aspects of your financial life - like buying a house, saving for retirement, planning for children's education, owning your dream car, debt management etc - are spokes on the wheel. Once you start to make progress along each one of those spokes, you will start to gain traction overall, and you'll see your ability to realize your financial targets really begin to take off. Further, we all know that one of the greatest sources of stress and conflict in relationships is money. Individuals and also families who have mapped out a financial path appreciate greater well-being, fret less, sleep much better and have strong relationships.

Financial Planning is really a life process. Preferably, you should meet a financial planner as early as possible in your lifetime and begin a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on the right track.

For more info, please feel free to contact us at any time and we'll be glad to help you!