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Financial Planning Company – Harvey

The most prevalent misconception regarding financial planning is that it is all about investing. Needless to say investing is a part of financial planning as one should make intelligent investment decisions, but there's a lot more to it. Financial Planning is the process of developing strategies to help you take care of your financial affairs efficiently and meet financial targets. It is a holistic process that helps you make smarter decisions by turning vague goals into concrete plans, providing a road map for action. Having a financial plan - and sticking with it - provides you with a real advantage with regards to planning your retirement along with other long-term financial and life goals.

Retirement Planning and Funding Your Child's Education - Harvey

Frequently people say that they are saving for retirement or saving for their children's schooling. They could be seen as specific goals, however they are really quite vague. Financial planning can find the important numbers - How much must you save and also by when? If you aren't sure whether you will have enough to live on post-retirement, it can create anxiety. But once 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 house, having kids or caring for aging mothers and fathers, financial planning can help you make better-informed decisions.

Certified Financial Planners - Harvey

The majority of 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 informed decisions 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 targets, but you only have Rs. 1,000 extra each year to achieve these goals, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the peace of mind of knowing that a specialist has reviewed your circumstances and that you are doing something beneficial for your financial predicament. Financial planning supplies a 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 too often with clients. If you are focused on the near-term rather than on much wider long-term implications, then you may wind up impairing the accumulation of wealth. For instance, counting on pre-tax returns for financial decision-making rather than knowing that different types of investments are susceptible to differing tax rates could be harmful for your financial health. A Certified Financial Planner will make you realize that the kind of investment you choose has an effect on the after-tax return. Remember, it isn't about the returns an investment generates; it's about the net income that comes in your hand. Lots of you do not realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you are concerned with and you do not realize that there will be a drag on the ultimate amount of cash you will have because of the tax liability that is waiting for you.

Impact of Financial Planning - Harvey

The influence of sound financial planning on overall financial well-being is multifold and also multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the heart, each of the different components of your financial life - like purchasing a home, 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 start to make progress along every one of those spokes, you will begin to gain traction overall, and you will see your ability to realize your financial targets 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 planned out a financial path enjoy greater well-being, worry less, sleep much better and have strong relationships.

Financial Planning can be a life process. Preferably, you need to meet a financial planner as early as possible in your life and generate a long-term relationship. Then meet frequently to review the Financial Plan to make sure you are on track.

For more information, please feel free to contact us at any time and we will be glad to help you!

Areas We Serve

Proudly Serving:

Arlington Heights - Aurora - Batavia - Bolingbrook - Bloomingdale - Buffalo Grove - Chicago - Cicero - Deerfield - Des Plaines - Dupage County - Elgin - Elmhurst - Evanston - Geneva - Highland Park - Lockport - Lombard - Naperville - New Lenox - North Barrington - Northbrook - Oak Lawn - Orland Park - Plainfield - Romeoville - Schaumburg - Wheaton

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