Financial Planning Services – Naperville, IL
The most prevalent misconception about financial planning is that it is all about investing. Of course investing is a part of financial planning as you should make smart investment decisions, but there is a lot more to it. Financial Planning is the method of developing strategies to help you control your financial affairs efficiently and meet financial goals. It is a holistic process that can help you make smarter decisions by turning vague targets into concrete strategies, supplying a road map for action. Having a financial plan - and sticking with it - gives you a true advantage when it comes to planning your retirement and other long-term financial and life goals.
Retirement Planning/Children's Education Funds - Naperville, IL
Often people say that they're saving for retirement or saving for their little one's schooling. They sound like distinct goals, but they're really quite vague. Financial planning can find the important numbers - How much should you save and by when? If you're not sure whether you'll 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. Whenever 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 - Naperville, IL
The majority of people do not have unlimited resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make educated choices 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 goals, but you only have Rs. 1,000 extra each and every year to achieve these targets, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you'll have the secure feeling of knowing that a specialist has reviewed your needs and that you are doing something positive for your financial predicament. Financial planning provides a road map with an action plan that - if implemented diligently - will take you where you want to go financially.
Missing the big picture is a problem seen all too often with clients. If you are centered on the near-term rather than on much wider long-term implications, then you could wind up impairing the build up of wealth. For example, counting on pre-tax returns for financial decision-making instead of understanding that various kinds 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 kind of investment you choose affects the after-tax return. Don't forget, it isn't about the returns an investment produces; it's about the net income that comes in your hands. Many of you do not realize the delayed tax implications on the future nest eggs. It is pre-tax returns you are worried about 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 which is awaiting you.
Influence of Financial Planning - Naperville, IL
The influence 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 of the various elements of your financial life - like buying a house, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so on - are spokes to the wheel. Once you start to make progress along each 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. Further, everyone knows that one of the greatest causes of stress and conflict in relationships is cash. Individuals and also families who have planned out a financial path appreciate greater well-being, worry less, sleep better and have strong relationships.
Financial Planning is really a life process. Preferably, you should meet a financial planner as soon as possible in your lifetime and establish a long-term relationship. Then meet regularly 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 happy to help you!
