Financial Planning Services – Golf
The most prevalent misconception regarding financial planning is that it is centered on investing. Needless to say investing is a part of financial planning as one should make sensible investment decisions, but there is much more to it. Financial Planning is the method of developing strategies to help you take care of your financial affairs effectively and meet financial goals. It is a holistic process that can help you make smarter decisions by turning vague targets into concrete plans, giving a map for action. Having a financial plan - and sticking with it - provides you with a true advantage when it comes to planning your retirement along with other long-term financial and life goals.
Retirement Planning and Funding Your Child's Education - Golf
Often people say that they're saving for retirement or saving for their child's education. They could be seen as precise goals, but they're really quite vague. Financial planning can discover the key numbers - How much must you save and also 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 once you know what you should do and that you are following the financial plan, it offers peace of mind and confidence. When your situation changes from single to married, from renting to buying a house, having children or caring for aging parents, financial planning will help you make better-informed decisions.
Certified Financial Planners - Golf
Most 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 restricted resources for attaining 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 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 professional has reviewed your needs and that you're doing something beneficial for your financial situation. Financial planning provides a map with an action plan that - if implemented faithfully - will take you where you want to go fiscally.
Missing the big picture is a problem seen too frequently with clients. If you are centered on the near-term rather than on broader long-term implications, then you could wind up impairing the build up of wealth. For example, relying on pre-tax returns for financial decision-making rather than knowing that various kinds of investments are susceptible to differing tax rates could be harmful for your financial well-being. A Certified Financial Planner can make you realize that the type of investment you choose affects the after-tax return. Bear in mind, it's not about the returns an investment produces; it comes down to the net income that comes in your hand. Lots of you fail to realize the delayed tax implications on the future nest eggs. It's pre-tax returns you are concerned with and you fail to realize that there will be a drag on the ultimate amount of money you'll have because of the tax liability that is awaiting you.
Impact of Financial Planning - Golf
The influence 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 heart, each of the different aspects of your financial life - like purchasing a home, saving for retirement, planning for your children's education, owning your favorite luxury car, debt management etc - are spokes to the wheel. Once you start to make progress along every one of those spokes, you'll start to gain traction overall, and you'll see your ability to realize your financial goals really begin to take off. Further, we all know that one of the greatest causes of stress and conflict in relationships is cash. Individuals and families who have mapped out a financial path appreciate greater well-being, worry less, sleep better and have vibrant relationships.
Financial Planning is really a life process. Ideally, you need to meet a financial planner as early as possible in your life and begin a long-term relationship. Then meet regularly to review the Financial Plan to make sure you're on track.
For more details, please feel free to contact us at any time and we'll be glad to help you!