Financial Planning Company – Winfield

The most typical misunderstanding regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make wise investment decisions, but there's a lot more to it. Financial Planning is the method of developing strategies to help you manage your financial affairs effectively and meet financial targets. It is a holistic method that can help you make better decisions by turning vague objectives into concrete strategies, providing a road map for action. Having a financial plan - and sticking with it - gives you a true edge when it comes to planning your retirement and other long-term financial and life goals.

Saving For Retirement and Your Child's Education - Winfield

Often folks say that they're saving for retirement or saving for their little one's education. They seem like specific goals, but they're really quite vague. Financial planning can discover the important numbers - How much do you need to save and by when? If you are not sure whether you will 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 confidence. Whenever your situation changes from single to married, from renting to buying a home, having kids or caring for aging mothers and fathers, financial planning can help you make better-informed decisions.

Certified Financial Planners - Winfield

Most people don't have limitless resources. In such a situation, Financial Planning through a Certified Financial Planner can offer advice on how best to make knowledgeable decisions and prudently use the limited resources for attaining 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 every year to achieve these objectives, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the secure feeling of knowing that a specialist has reviewed your circumstances and that you're doing something beneficial for your financial predicament. Financial planning supplies a road map with an action plan that - if followed diligently - will take you where you want to go financially.

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 could end up impairing the build up of wealth. For instance, depending on pre-tax returns for financial decision-making rather than understanding that different types of investments are subject to differing tax rates might be harmful for your financial health. A Certified Financial Planner will make you understand that the type of investment you choose has an effect on the after-tax return. Bear in mind, it's not about the returns an investment generates; it's about the net income that comes in your hand. Many of you do not realize the delayed tax implications on the potential nest eggs. It's pre-tax returns you are 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 which is awaiting you.

Influence of Financial Planning - Winfield

The impact of sound financial planning on overall financial well-being is multifold and multidimensional. In fact if you think of your financial life as a flywheel, with financial planning as the middle, each one of the different aspects of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management and so on - 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 recognize your financial targets really begin to take off. Further, everyone knows that one of the greatest causes of stress and conflict in relationships is money. Individuals and families who've mapped out a financial path enjoy greater well-being, fret less, sleep much better and have strong relationships.

Financial Planning is a life process. Essentially, you should meet a financial planner as early as possible in your lifetime and set up a long-term relationship. Then meet on a regular basis to review the Financial Plan to make sure you're on the right track.

For more info, please do not hesitate to contact us at any time and we will be happy to help you!