Financial Planning Services – Crestwood
The most popular misconception regarding financial planning is that it is all about investing. Of course investing is a part of financial planning as one should make smart investment choices, but there is so much more to it. Financial Planning is the process of creating strategies to help you take care of your financial affairs efficiently and meet financial goals. It's a holistic process that helps you make better decisions by turning vague targets into concrete strategies, providing a guide for action. Having a financial plan - and sticking with it - provides you with a true advantage with regards to planning your retirement as well as other long-term financial and life goals.
Saving For Retirement and Your Child's Education - Crestwood
Frequently folks say that they're saving for retirement or saving for their little one's education. They sound like distinct goals, however they are really quite vague. Financial planning can discover the important 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 stress and anxiety. But when you know what you should do and that you are following the financial plan, it provides peace of mind and self-assurance. When 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 choices.
Certified Financial Planners - Crestwood
Most people don't have unlimited 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 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 can help you choose among your priorities. Whatever you decide, you will have the secure feeling of knowing that an expert has reviewed your needs and that you're doing something beneficial for your financial situation. Financial planning offers a map with an action plan that - if followed faithfully - will take you where you want to go fiscally.
Missing the big picture is an issue seen all too often with clients. If you are focused on the near-term rather than on broader long-term implications, then you may wind up impairing the build up of wealth. For example, counting on pre-tax returns for financial decision-making rather than knowing that different types of investments are susceptible to differing tax rates might be damaging for your financial wellness. A Certified Financial Planner will make you understand that the type of investment you choose impacts the after-tax return. Don't forget, it's not about the returns an investment produces; it's about the net income that comes in your hand. A lot of you fail to realize the delayed tax implications on the future nest eggs. It is pre-tax returns you are concerned about and you fail to realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability which is waiting for you.
Influence of Financial Planning - Crestwood
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 middle, each one of the different elements of your financial life - like purchasing a house, saving for retirement, planning for your children's education, owning your dream 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 realize your financial goals really start to take off. Additionally, everyone knows that one of the greatest causes of stress and conflict in relationships is cash. Individuals and also families who have mapped out a financial path appreciate greater well-being, worry less, sleep much better and have strong relationships.
Financial Planning can be a life process. Essentially, you should meet a financial planner as soon as possible in your life and generate a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on track.
For more details, please do not hesitate to contact us at any time and we will be glad to help you!
