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Financial Planning Services – Mount Prospect, IL

The most common misconception regarding financial planning is that it is all about investing. Needless to say investing is a part of financial planning as you should make intelligent investment decisions, but there's so much more to it. Financial Planning is the process of developing strategies to help you manage your financial affairs efficiently and meet financial goals. It is a holistic process that helps you make smarter decisions by turning vague goals into concrete plans, providing a map for action. Having a financial plan - and sticking to it - will give you a true edge with regards to planning your retirement and other long-term financial and life goals.

Retirement Planning/Children's Education Funds - Mount Prospect, IL

Often individuals say that they're saving for retirement or saving for their children's education. They could be seen as specific 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 aren't sure whether or not you will have enough to live on post-retirement, it can create anxiety. But when you know what you should do and that you are following the financial plan, it gives you 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 can help you make better-informed decisions.

Certified Financial Planners - Mount Prospect, IL

Most people do not have unlimited resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated decisions and prudently use the limited resources for attaining 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 every year to achieve these goals, a Certified Financial Planner can help you choose among your priorities. Whatever you decide, you will have the secure feeling of knowing that a specialist has reviewed your circumstances and that you are doing something positive for your financial predicament. Financial planning provides 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 an issue seen too frequently 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 build up of wealth. For example, counting on pre-tax returns for financial decision-making rather than understanding that different types of investments are subject to differing tax rates could be harmful for your financial well-being. A Certified Financial Planner can make you understand that the kind of investment you choose has an effect on the after-tax return. Don't forget, it's not about the returns an investment produces; it comes down to the net income that comes in your hand. 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 money you will have because of the tax liability which is awaiting you.

Impact of Financial Planning - Mount Prospect, IL

The impact of sound financial planning on over-all 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 various aspects of your financial life - like purchasing a house, saving for retirement, planning for children's education, owning your dream car, debt management and so on - are spokes on the wheel. Once you begin to make progress along every one of those spokes, you'll start to gain traction all round, 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 also families who've planned out a financial path enjoy greater well-being, worry less, sleep better and have strong relationships.

Financial Planning can be a life process. Preferably, you need to meet a financial planner as soon as possible in your lifetime and generate a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.

For more details, please do not hesitate to contact us at any time and we will 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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