Financial Planning – Broadview, Illinois

The most common misunderstanding about 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 choices, but there is much more to it. Financial Planning is the process of developing strategies to help you take care of your financial affairs effectively and meet financial targets. It is a holistic process that helps you make smarter decisions by turning vague targets into concrete plans, offering a road map for action. Having a financial plan - and sticking to it - provides you with a real advantage with regards to planning your retirement and other long-term financial and life goals.

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

Often individuals say that they are saving for retirement or saving for their children's schooling. They could be seen as 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 aren't 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 mothers and fathers, financial planning will help you make better-informed choices.

Certified Financial Planners - Broadview, Illinois

Many people don't have limitless resources. In such a situation, Financial Planning through a Certified Financial Planner can provide 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 son or daughter's education as your financial targets, 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 reassurance of knowing that a specialist has reviewed your situation and that you're doing something beneficial for your financial situation. Financial planning provides a road map with an action plan that - if implemented 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 centered on the near-term rather than on much wider long-term implications, then you might wind up impairing the accumulation of wealth. For example, relying on pre-tax returns for financial decision-making as opposed to understanding that various kinds of investments are susceptible to differing tax rates might be damaging for your financial health. A Certified Financial Planner will make you realize that the kind of investment you choose impacts the after-tax return. Don't forget, it isn't about the returns an investment generates; it comes down to the net income that comes in your hands. Many of you fail to realize the delayed tax implications on the foreseeable future nest eggs. It's pre-tax returns you are worried about and you fail to realize that there will be a drag on the ultimate amount of cash you'll have because of the tax liability that is awaiting you.

Influence of Financial Planning - Broadview, Illinois

The influence 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 middle, each one of the different elements of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your dream car, debt management etc - are spokes to the wheel. Once you start to make progress along each one of those spokes, you are going to start to gain traction overall, and you will see your ability to realize your financial targets really start to take off. Further, everyone knows that one of the greatest sources 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 much better and have vibrant relationships.

Financial Planning is a life process. Preferably, 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 information, please don't hesitate to contact us at any time and we'll be glad to help you!