Financial Planning Services – La Grange Park, Illinois

The most popular 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 intelligent investment choices, but there is much more to it. Financial Planning is the process of developing strategies to help you manage your financial affairs efficiently and meet financial targets. It's a holistic method that helps you make smarter decisions by turning vague objectives into concrete plans, providing a map for action. Having a financial plan - and sticking to it - provides you with a real edge when it comes to planning your retirement as well as other long-term financial and life goals.

Financial Planning For the Future - La Grange Park, Illinois

Often people say that they are saving for retirement or saving for their child's schooling. They could be seen as distinct goals, but they're really quite vague. Financial planning can discover the key numbers - How much must you save and by when? If you're not sure whether you'll have enough to live on post-retirement, it can create 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 house, having children or caring for aging parents, financial planning will help you make better-informed choices.

Certified Financial Planner - La Grange Park, Illinois

The majority of 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 informed options 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 will help you select among your priorities. Whatever you decide, you'll have the reassurance of knowing that a professional has reviewed your circumstances and that you're doing something beneficial for your financial predicament. Financial planning offers a map with an action plan that - if followed diligently - will take you where you want to go financially.

Missing the big picture is a problem seen all too often with clients. If you are centered on the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For instance, counting on pre-tax returns for financial decision-making instead of knowing that different types of investments are susceptible to differing tax rates could be harmful for your financial wellness. A Certified Financial Planner will make you realize 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 creates; it's about the net income that comes in your hand. Lots of you fail to realize the delayed tax implications on the potential nest eggs. It is pre-tax returns you are worried about 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.

Influence of Financial Planning - La Grange Park, Illinois

The influence of sound financial planning on overall financial well-being is multifold and multidimensional. Actually if you think of your financial life as a flywheel, with financial planning as the center, each one of the different aspects of your financial life - like purchasing a home, saving for retirement, planning for 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 every one of those spokes, you are going to start to gain traction all round, and you'll see your ability to recognize your financial targets really begin to take off. Further, everyone knows that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who have mapped out a financial path appreciate greater well-being, fret less, sleep much better and have vibrant relationships.

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

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