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Financial Planning Company – Medinah, Illinois

The most common misunderstanding regarding financial planning is that it is centered on investing. Of course investing is a part of financial planning as you should make wise investment choices, but there is a lot more to it. Financial Planning is the method of creating strategies to help you control your financial affairs efficiently and meet financial goals. It's a holistic process that helps you make better decisions by turning vague objectives into concrete plans, providing a guide for action. Having a financial plan - and sticking with it - provides you with a true edge with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Medinah, Illinois

Frequently people say that they are saving for retirement or saving for their children's schooling. They seem like precise goals, but they're really quite vague. Financial planning can find the important numbers - How much must you save and by when? If you are not sure whether or not you'll 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 gives you peace of mind and self-assurance. Whenever your situation changes from single to married, from renting to buying a house, having children or caring for aging parents, financial planning can help you make better-informed choices.

Certified Financial Planners - Medinah, Illinois

Most people don't have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can offer advice on how best to make informed choices and prudently use the restricted resources for reaching financial freedom. Say, if you have identified retirement and funding your child's education as your financial goals, but you only have Rs. 1,000 extra every year to achieve these objectives, 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 specialist has reviewed your situation and that you're doing something beneficial for your financial predicament. Financial planning supplies a road map with an action plan that - if followed faithfully - will take you where you want to go in financial terms.

Missing the big picture is a problem seen too often with clients. If you are centered on the near-term rather than on much wider long-term implications, then you may end up impairing the build up of wealth. For instance, depending on pre-tax returns for financial decision-making instead of understanding that different types of investments are subject to differing tax rates might be damaging for your financial wellness. A Certified Financial Planner can make you realize that the type of investment you choose affects the after-tax return. Keep in mind, it's not about the returns an investment generates; it's about the net income that comes in your hand. A lot of you do not realize the delayed tax implications on the foreseeable 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 money you'll have because of the tax liability that is waiting for you.

Impact of Financial Planning - Medinah, Illinois

The influence of sound financial planning on over-all financial well-being is multifold and multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the center, each of the different aspects of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your ideal car, debt management and so on - are spokes on the wheel. Once you begin to make progress along every one of those spokes, you will start to gain traction overall, and you will see your ability to understand your financial goals 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 enjoy greater well-being, worry less, sleep much better and have strong relationships.

Financial Planning is a life process. Ideally, you need to meet a financial planner as soon as possible in your lifetime and begin a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on the right track.

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

Areas We Serve

Proudly Serving:

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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