Financial Planning Services – Palatine, IL
The most prevalent misconception regarding financial planning is that it is centered on investing. Of course investing is a part of financial planning as one should make sensible investment decisions, but there is a whole lot more to it. Financial Planning is the method of creating strategies to help you take care of your financial affairs effectively and meet financial goals. It's a holistic process that can help you make smarter decisions by turning vague targets into concrete strategies, providing a road map for action. Having a financial plan - and sticking with it - gives you a real advantage with regards to planning your retirement along with other long-term financial and life goals.
Financial Planning For the Future - Palatine, IL
Often folks say that they're saving for retirement or saving for their little one's schooling. They sound like distinct goals, however they are really quite vague. Financial planning can find the important numbers - How much should you save and by when? If you're not sure whether or not you'll 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 confidence. Whenever your situation changes from single to married, from renting to buying a home, having kids or caring for aging mothers and fathers, financial planning will help you make better-informed decisions.
Certified Financial Planners - Palatine, IL
The majority of people don't have limitless resources. In such a scenario, Financial Planning through a Certified Financial Planner can provide advice on how best to make educated 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 goals, but you only have Rs. 1,000 extra each year to achieve these targets, a Certified Financial Planner will help you select among your priorities. Whatever you decide, you'll have the peace of mind of knowing that a specialist has reviewed your needs and that you're doing something beneficial for your financial situation. Financial planning supplies a map with an action plan that - if implemented diligently - will take you where you want to go in financial terms.
Missing the big picture is a problem seen too often with clients. If you are devoted to the near-term rather than on broader long-term implications, then you could wind up impairing the accumulation of wealth. For example, relying on pre-tax returns for financial decision-making as opposed to knowing that various kinds of investments are susceptible to differing tax rates might be damaging for your financial well-being. A Certified Financial Planner can make you understand that the kind of investment you choose impacts the after-tax return. Remember, it's not about the returns an investment generates; it comes down to 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'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 which is waiting for you.
Influence of Financial Planning - Palatine, IL
The influence of sound financial planning on over-all 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 one of the various components 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 will begin to gain traction all round, and you will see your ability to recognize your financial goals really start to take off. Further, we all know that one of the greatest sources of stress and conflict in relationships is money. Individuals and families who've planned out a financial path appreciate 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 lifetime and establish a long-term relationship. Then meet frequently to review the Financial Plan to make sure you're on track.
For more information, please feel free to contact us at any time and we will be glad to help you!
