Financial Planning Company – Lansing, Illinois

The most typical misunderstanding about financial planning is that it is all about investing. Of course investing is a part of financial planning as you should make sensible investment choices, but there is much more to it. Financial Planning is the method of developing strategies to help you manage your financial affairs effectively and meet financial goals. It is a holistic process that can help you make better decisions by turning vague objectives into concrete plans, supplying a guide for action. Having a financial plan - and sticking with it - will give you a true advantage when it comes to planning your retirement as well as other long-term financial and life goals.

Saving For Retirement and Your Child's Education - Lansing, Illinois

Often people say that they are saving for retirement or saving for their little one's schooling. They sound like precise goals, but they're really quite vague. Financial planning can find the key numbers - How much should you save and by when? If you are not sure whether or not you will have enough to live on post-retirement, it can create anxiety. But once you know what you have to do and that you are following the financial plan, it gives you peace of mind and assurance. When your situation changes from single to married, from renting to buying a home, having children or caring for aging mothers and fathers, financial planning can help you make better-informed choices.

Certified Financial Planner - Lansing, Illinois

Many 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 choices and prudently use the restricted resources for attaining financial freedom. Say, if you have identified retirement and funding your son or daughter's education as your financial goals, but you only have Rs. 1,000 extra each and every year to achieve these objectives, a Certified Financial Planner can help you select among your priorities. Whatever you decide, you will have the reassurance of knowing that an expert has reviewed your situation and that you are doing something positive for your financial situation. Financial planning provides 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 too often with clients. If you are focused on the near-term rather than on broader long-term implications, then you could end up impairing the build up of wealth. For instance, relying on pre-tax returns for financial decision-making instead of knowing that different types of investments are susceptible to differing tax rates might be harmful for your financial health. A Certified Financial Planner can make you realize that the kind of investment you choose impacts the after-tax return. Bear in mind, it isn't 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 foreseeable future nest eggs. It is pre-tax returns you are concerned with 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's waiting for you.

Influence of Financial Planning - Lansing, Illinois

The impact of sound financial planning on over-all 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 of the different aspects of your financial life - like buying a house, saving for retirement, planning for children's education, owning your dream car, debt management and so forth - are spokes to the wheel. Once you begin to make progress along every one of those spokes, you will start to gain traction overall, and you'll see your ability to realize your financial goals really start to take off. Additionally, we all know that one of the greatest causes of stress and conflict in relationships is cash. Individuals and families who've planned out a financial path enjoy greater well-being, fret less, sleep better and have strong relationships.

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

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